Computer System Requirements for New Massachusetts Privacy Regulations

As discussed in earlier alerts (Additional Guidance on the Massachusetts Privacy Regulations, Privacy and Security Alert: Massachusetts Has New Data Security Regulations and New Massachusetts Privacy Laws), starting on January 1, 2009, businesses will be held to a higher standard regarding the protection of Massachusetts residents’ personal information. The regulations set out in detail the

Effects of FinCEN’s Withdrawal of Rule-Making on Anti-Money Laundering

Last week, FinCEN withdrew a proposed rulemaking for anti-moneylaundering procedures for unregistered investment companies. [See: FinCEN Withdraws Proposed Rulemaking for Unregistered Investment Companies] FinCEN warned that they have not abandoned plans for rule-making. They merely felt that after six years the notice had gone stale. FinCEN may come out with AML program rule proposal, but would

FinCEN Rulemaking

The Financial Crimes Enforcement Network has put up a page dedicated to their pending rulemakings: FinCEN Pending Rulemakings.

Are Sovereign Wealth Funds State-Owned Enterprises?

Steve Tyrrell, Chief of the Fraud Section in DOJ’s Criminal Division, has observed that the DOJ may treat employees of sovereign wealth funds as government officials for purposes of the FCPA Sovereign wealth funds have been playing a larger role in the domestic securities markets as companies search for increasingly scarce supplies of capital. Mr.

KMPG Survey Shows Lack of FCPA Due Diligence

KPMG Forensic released aurvey of 103 U.S. executives with FCPA duties. The survey found: only one-third of respondents reported having an adequate due diligence process, and 27% said such compliance was only “minimal.” The survey also found that while 40% of companies include anti-corruption certifications in their normal business dealings, most of those companies apply

The Dangers of Bribery

The downfall of local politician can cast a shadow of filth across your company. Here in Boston, state Senator Diane Wilkerson was arrested for public corruption. In an editorial in the Boston Globe, the newspaper noted that Wilkerson’s arrest raised suspicions about real estate developments in her district that she aggressively supported: The Grimy Side

Blogging / Social Internet Policy

A variation of this post was originally published on my old blog: KM Space. When employees create their own blogs, comment on a blog, create a LinkedIn profile, use Facebook and/or contribute to or through any of the other online media (i.e., Wikis, blogs, chat rooms, Internet forums, electronic mailing lists, etc.) they are impacting

Avon Fall-Out

We are starting to see some of the fall-out from the Avon FCPA investigation [Ding Dong, FCPA Calling]. The Wall Street Journal [Regulators Detained by China in Probe] and Reuters [China probe may curb foreign deals: sources] are both reporting the detention of two officials from the Commerce Ministry. The Wall Street is reporting that

Military Whistleblowers Get Little Help

The AP released a story describing the poor performance of the Department of Defense Inspector General’s Office: Whistle-blowers get little help if punished. The inspector general’s office rejected claims of retaliation and stood by the military in more than 90 percent of nearly 3,000 cases during the past six years. More than 73 percent were