Compliance Week Keynote from David Ogden

compliance-week-sepia
My notes, live, from the keynote address by David Ogden, the Deputy Attorney General.

As we confront the current financial crisis and try to restore trust and accountability, we have a shared responsibility to make sure justice is done. Responsible corporate behavior must be encouraged and rewarded. There will continue to enforcement action on financial crimes.

The FBI has doubled the number of investigators looking into mortgage fraud. There is also going to be an emphasis on healthcare fraud. They are looking to get better access to financial records and information in the healthcare industry.

With the $4 trillion of TALF funds, there is a potential for fraud in procurement and the use of those funds. (It sounds like there will be a lot of investigations into the recovery efforts.)

The DOJ needs to be relentless in its enforcement activity. They need to ensure the integrity of the financial markets and preserve the public fisc.

He pointed out an emphasis on training the department attorneys on discovery and electronic records.

The new principles that are part of the DOJ handbook emphasizes the importance of the attorney-client privilege. Cooperation is based on sharing information. No longer is waiver of the privilege a requirement to get cooperation credit. Prosecutors may not request that a company deny advancement of attorney fees or hiring attorneys to defend individuals involved in wrong-doing.

(These notes are taken live, so I apologize if I left out anything or misquoted someone. Please forgive any typos or grammatical errors.)