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Business

Electronic Data Discovery and the New Federal Rules – More Risks To Be Addressed By Compliance and Ethics Programs

Introduction On December 1, 2006, significant changes to the Federal Rules of Civil Procedure (FRCP) specifically directed to discovery of electronic data (E-Discovery) went into effect. The rules were amended to provide guidance and mandatory direction necessitated by the explosion of electronically stored information (ESI) in the past several years. The amendments, read in their totality, express underlying principles which…
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October 5, 2018
Business

CONSTRUCTION FIRMS: Targets for Enforcement Initiatives (Part 1)

Iraq and Katrina combine with existing trends to form a perfect storm for construction firms that have government business The meltdowns at Enron, Tyco, Adelphia and WorldCom and many other corporate scandals have produced an explosion of legal and regulatory responses the likes of which corporate America has not seen since the Great Depression. The Sarbanes-Oxley Act of 2002 (SOX)…
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October 5, 2018
Business

CONSTRUCTION FIRMS: Targets for Enforcement Initiatives (Part 2)

This article is a continuation of our most recent corporate governance series. If you missed part 1, you can read it online here: Construction Firms Part 1 Iraq, Katrina and the suspension of procurement rules When awarding contracts, the government generally uses full-and-open competition procedures to protect taxpayers' interests and reduce the opportunity for fraud and abuse. This process generally…
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October 5, 2018
Business

CONSTRUCTION FIRMS: Targets for Enforcement Initiatives (Part 3)

This article is a continuation of our most recent corporate governance series. If you missed part 2, you can read it online here: Construction Firms Part 2 The Iraq war. The Office of the Special Inspector General for Iraq Reconstruction (SIGIR) is the successor to the Coalition Provisional Authority Office of Inspector General, a temporary organization created by Congress in…
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October 6, 2018
Business

CONSTRUCTION FIRMS: Targets for Enforcement Initiatives (Part 4)

This article is a continuation of our most recent corporate governance series. If you missed part 3, you can read it online here: Construction Firms Part 3 Protections from compliance and ethics programs On May 1, 2004, the U.S. Sentencing Commission (the "Commission") delivered to Congress proposed amendments to the United States Sentencing Guidelines for Organizations (the "Amended Guidelines"). The Amended…
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October 6, 2018
Business

CONSTRUCTION FIRMS: Targets for Enforcement Initiatives (Part 5)

This article is the final part in our most recent corporate governance series. If you missed part 4, you can read it online here: Construction Firms Part 4 The eighth element: Risk assessment? Although the Commission did not formally designate an eighth element, preferring to continue with the well-established concept of seven elements, it did state, "as an essential component of…
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October 6, 2018
Business

ANTI-MONEY LAUNDERING: The Criminal and Regulatory Framework, and Anti-Money Laundering Compliance Programs (Part 1)

1. WHAT IS MONEY LAUNDERING? Money laundering is the general term used to describe the processes used to conceal the true source, origin, ownership, destination or use of money or property. It "is the criminal practice of processing ill-gotten gains, or 'dirty' money, through a series of transactions; in this way the funds are 'cleaned' so that they appear to…
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October 6, 2018
Business

ANTI-MONEY LAUNDERING: The Criminal and Regulatory Framework, and Anti-Money Laundering Compliance Programs (Part 2)

This article is a continuation of our most recent corporate governance series. If you missed part 1, you can read it online here: Anti-Money Laundering Part 1 1. The Money Laundering Control Act The Money Laundering Control Act consists of two criminal statutes, 18 U.S.C. §§ 1956 and 1957. Generally, the Act makes it a federal crime to launder money. Violation…
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October 6, 2018
Business

ANTI-MONEY LAUNDERING: The Criminal and Regulatory Framework, and Anti-Money Laundering Compliance Programs (Part 3)

This article is a continuation of our most recent corporate governance series. If you missed part 2, you can read it online here: Anti-Money Laundering Part 2 2. The Bank Secrecy Act The Bank Secrecy Act (or "BSA") (31 U.S.C. 5311 et seq.) is the law that establishes the basic regulatory framework for anti-money laundering regulations.Unlike the Money Laundering Control Act,…
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October 6, 2018
Business

ANTI-MONEY LAUNDERING: The Criminal and Regulatory Framework, and Anti-Money Laundering Compliance Programs (Part 4)

This article is a continuation of our most recent corporate governance series. If you missed part 3, you can read it online here: Anti-Money Laundering Part 3 3. Reporting Large Cash Transactions The unique feature of cash is that it leaves little or no documentary evidentiary trail. Unlike credit card transactions or a check purchases, which leave records identifying the date…
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October 6, 2018
Business

ANTI-MONEY LAUNDERING: The Criminal and Regulatory Framework, and Anti-Money Laundering Compliance Programs (Part 5)

This article is a continuation of our most recent corporate governance series. If you missed part 4, you can read it online here: Anti-Money Laundering Part 4 4. Transactions With Prohibited Persons, Groups, Entities and Countries: A number of federal laws impose severe restrictions and sanctions against various persons, groups, entities and countries considered to be terrorists, supporters or terrorist activity, or…
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October 6, 2018
Business

CONSTRUCTION FIRMS: Targets for Enforcement Initiatives (Part 4)

This article is a continuation of our most recent corporate governance series. If you missed part 3, you can read it online here: Construction Firms Part 3 Protections from compliance and ethics programs On May 1, 2004, the U.S. Sentencing Commission (the "Commission") delivered to Congress proposed amendments to the United States Sentencing Guidelines for Organizations (the "Amended Guidelines"). The…
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October 6, 2018