Everything Compliance-Episode 2

This episode is dedicated exclusively to where FCPA enforcement, SEC enforcement, the compliance profession and compliance programs may be headed under the Trump administration, with a dash of anti-trust enforcement and EU Privacy Shield.

• Mike Volkov about where FCPA enforcement may be headed. We explore how FCPA cases are largely self-funded through company internal investigations which are turned over to the Justice Department. Volkov discusses funding and resources for the Department’s FCPA unit. He also touches on potential (or the lack thereof) of anti-trust enforcement going forward.

For Volkov’s post, “A New Administration: A New FCPA Enforcement Regime?” click here.

• Matt Kelly leads a discussion on how the new administration may view the SEC going forward. He considers the announced resignation of SEC Chairman Mary Jo White and the appointment (and dismissal) of Kevin O’Connor from Trump’s transition team. Matt explains how Trump’s attacks on Dodd-Frank focus on easing rules for capital formation not on the whistleblower provisions or other sections more applicable to the compliance profession.

For Kelly’s posts, see the following:

1. Five Post-Election Points for CCOs to Ponder;
2. It’s Starting: Disclosure of ‘Trump Risk’;
3. Compliance in the Trump Era, Part I: The SEC;
4. A CCO Voice Emerges in Trump World; and
5. Well That Didn’t Last Long…

• Jonathan Armstrong leads a discussion of the view from across the pond on where anti-corruption compliance enforcement may be headed after the election. He considers what the effects might be on the UK Serious Fraud Office (SFO)? He also considers what the effect of the Trump election might mean for EU and UK privacy advocates, privacy protections and privacy legislation going forward. He also discusses issues surrounding Privacy Shield. Privacy Shield faces a number of challenges from regulators, courts and possibly from the European Parliament.  A new Trump administration is likely to make Privacy Shield’s future even more uncertain.  Jonathan’s thoughts on Privacy Shield are here - http://www.corderycompliance.com/privacy-shield-faqs/

For Armstrong’s blog post, “What does the election of President Trump mean for compliance?” click here.

• Jay Rosen takes us through how all of this may well be much ado about nothing. He points out that the compliance profession will continue to thrive as it becomes more as a part of business processes. From his role as ‘Mr. Translations’ he explains that companies have been moving compliance into the fabric of organizations and that by doing so, companies become better run, more efficient and more profitable.

For Rosen’s blog post (and great riff off of The Clash) “Should I Stay or Should I Go?”, click here.

• For my blogs posts on these topics see the following:

1. FCPA Enforcement Going Forward in the Trump Administration;
2. Compliance Isn’t Going Away (and neither should you), Part I;
3. Compliance Isn’t Going Away (and neither should you), Part II;
4. Compliance Isn’t Going Away (and neither should you), Part III; and
5. Why FCPA Compliance Makes America Great.

The members of the Everything Compliance panel include:

• Jay Rosen (Mr. Translations) – Jay is Vice President of Legal & Corporate Language Solutions at United Language Group. Rosen can be reached at [e-mail].
• Mike Volkov – One of the top FCPA commentators and practitioners around and is the Chief Executive Officer (CEO) and owner of The Volkov Law Group, LLC. Volkov can be reached at [e-mail].
• Matt Kelly – Founder and CEO of Radical Compliance, is the former Editor of the noted Compliance Week Kelly can be reached at [e-mail]
• Jonathan Armstrong – Rounding out is our UK colleague, who is an experienced lawyer with Cordery in London. Armstrong can be reached at [e-mail].

For additional reading check out some of the following posts:

1. Over at the Global Anti-Corruption Blog, Matt Stephenson talks about his nightmare version of a Trump administration for the global fight against anti-corruption.
2. NYT Times DealB%K- on what DOJ and SEC enforcement may look like going forward.
3. Sam Rubenfeld at the WSJ Corruptions Currents online site,a collection of some thoughts on what a Trump administration may mean for compliance.
4. SCCE CEO Roy Snell tells us how he has seen it all before and advises everyone to wait a year and see what happens.
5. Finally, in an uncharacteristically restrained post, the FCPA Professor advises everyone to take a deep breath, when it comes to FCPA enforcement under a Trump administration.
6. Mike Scher advises President-Elect Trump to consider compliance officers.