With the steady increase of global regulation and enforcement across all industries in today's commercial world, the conduct by companies of independent and credible internal investigations is swiftly being recognised as a standalone area of expertise
The Fraud Section of the U.S. Department of Justice (“DOJ”) has retained Hui Chen as its full-time, resident Compliance Counsel. Ms. Chen has a significant background in compliance at various multinational companies. The retention of Ms. Chen and accompanying commentary from leadership of the DOJ’s Criminal Division last week highlight the U.S. government’s distinct expectations with respect to compliance. This development also sends a clear message about how important the DOJ considers compliance in the resolution of enforcement matters and how closely a company’s program will be scrutinized during that process.
On September 21, 2015, the U.S. Treasury Department’s Office of Foreign Assets Control (“OFAC”) and the U.S. Commerce Department’s Bureau of Industry and Security...
European Union, United States, and Switzerland Move Forward on Sanctions Relief for Iran Following...
On 18 October 2015, Iran and the EU/E3+3 (China, France, Germany, the Russian Federation, the United Kingdom, and United States) began preparations to implement their respective commitments under the Joint Comprehensive Plan of Action related to Iran’s nuclear programme.
Adoption Day sees EU adopt legislative framework to lift nuclear-related economic and financial sanctions
On 18 October 2015, Iran's Foreign Minister and the EU Foreign Policy Chief issued a joint statement announcing the official adoption of the "Joint Comprehensive Plan of Action" between Iran and the EU/E3+3 (China, the EU, France, Germany, Russia, the UK and the USA).
The White House issued a “Fact Sheet” summarizing the outcome of the meetings between President Xi and President Obama with respect to areas in which the United States and Chinese governments agreed “to work together to constructively manage our differences” and decided “to expand and deepen cooperation.”
The Court of Justice of the European Union, following the opinion of the Advocate General, invalidated European Commission Decision 2000/520 dated July 27, 2000, which allowed transfers of personal data to US companies that self-certified under the US/EU Safe Harbor Program.
The Ontario Court of Appeal has recently released its decision in R. v. Michaud, 2015 ONCA 585 . This decision is of importance as the Court's endorsement of the hybrid model of ex ante / ex post legislation has the effect of recognizing the role of risk assessment as a legal necessity.
U.S. enforcement authorities in FCPA matters place great emphasis on obtaining and analyzing relevant documents, data, and other reviewable information. For this reason, it is incumbent upon any company in a cooperative posture with the government to disclose as much relevant, non-privileged information as practicable.
The U.S. Treasury Department’s Office of Foreign Assets Control and the U.S. Commerce Department’s Bureau of Industry and Security announced amendments to the Cuban Assets Control Regulations and the Export Administration Regulations in a continuing effort to relax certain aspects of the U.S. embargo against Cuba.