SEC’s Whistleblower Rewards Chief to Leave

Big news from the Securities and Exchange Commission this afternoon: Sean McKessy, the agency’s first and only director of the Office of the Whistleblower, is stepping down after five years on the job. The SEC’s prepared statement says McKessy will leave by the end of July, and does not say what he may do next.…

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More on Internal Investigations, Yates Memo

Last week we looked at a recent federal appeals court ruling, Gilman v. Marsh McLennan, that affirms a considerable amount of power for compliance and legal officers conducting internal investigations. The decision has enough potential implications to warrant a follow-up post, so let’s keep going. I won’t rehash my earlier post here. Suffice to say…

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What Adds ‘Wow’ to a Compliance Program?

Not long ago, someone leaked to me a short paper that Joe Murphy, compliance consultant extraordinaire, has been writing about “wow factors” in corporate compliance programs. That the leaker was Murphy himself, with a short note attached saying, “Hey Matt, why not put this on your blog?” is purely coincidence. Wow factors, as corny as…

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U.S. Chamber Aims Fire at Yates Memo

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The U.S. Chamber of Commerce published a lengthy critique of the Yates Memo yesterday, and cynics who believe the memo is a powerful threat to internal investigations will be pleased. Others who don’t believe the memo is a threat should be more cynical. Obviously the Chamber has an agenda with this paper, like it has…

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Dueling Perspectives on Compliance & Yates Memo

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There we were—me, the Lawyer from a large law firm in the United States, and the Ethics Consultant who works with large companies here and in Europe. We were talking about the Yates Memo, and its possible consequences for companies under investigation by the Justice Department. First, a refresher for anyone unfamiliar with the Yates…

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FCPA Action Against PTC Is Another Brick in the Wall

Yesterday the Securities and Exchange Commission set another precedent in regulatory enforcement: for the first time ever, it reached a deferred-prosecution deal with an executive (rather than a company) over foreign bribery charges. This is not exactly welcome news for corporate compliance officers. The executive is Yu Kai Yuan, a Chinese national who worked in…

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