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- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Kyle Brasseur2023-09-21T20:38:00
The Department of Justice (DOJ) is gearing up to provide more guidance on voluntary self-disclosures (VSD) in the mergers and acquisitions (M&A) space and the role compliance should play.
Principal Associate Deputy Attorney General Marshall Miller said in remarks delivered at an industry event Thursday that the agency has received “lots of feedback” from the private sector regarding self-disclosures in M&A since publishing its new VSD policy earlier this year. The policy is part of a wider DOJ push to incentivize companies self-reporting apparent instances of white-collar crime, including through increased leniency toward issues discovered during post-acquisition due diligence.
“Encouraging corporate responsibility includes avoiding unintended consequences, like deterring companies with good compliance programs from acquiring companies with histories of misconduct,” said Miller. “Acquiring companies should not be penalized when they engage in careful pre-acquisition diligence and timely post-acquisition integration to detect and remediate misconduct at the acquired company’s business.”
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2024-04-11T17:50:00Z By Kyle Brasseur
A proposal by the Treasury Department would allow the Committee on Foreign Investment in the United States to seek more information as part of its review activities and enable “substantially” larger penalties in instances of noncompliance with relevant regulations.
2023-10-27T16:25:00Z By Kyle Brasseur
It’s no secret the U.S. healthcare competition system has significant flaws. Where the debate exists is in determining the source of the issues and how to fix them, according to Deputy Assistant Attorney General Andrew Forman of the Department of Justice’s Antitrust Division.
2023-10-12T16:00:00Z By Kyle Brasseur
All the carrots being offered by the Department of Justice in the past year—greater penalty reduction thresholds, relief related to compensation clawbacks, voluntary self-disclosure incentives—are part of a strategy to strengthen the enforcement stick when companies don’t cooperate.
2024-07-02T20:35:00Z By Adrianne Appel
Three former executives of Chicago-based Outcome Health, a healthcare technology company, were sentenced for misleading an auditor, clients, lenders, and investors about a scheme to sell $45 million in overbilled advertisements.
2024-07-02T14:42:00Z By Adrianne Appel
A home health company operating in Indiana, Ohio, and Texas agreed to pay nearly $4.5 million to settle allegations it filed false claims by giving sports tickets and other kickbacks to assisted living facilities in exchange for referrals.
2024-07-02T13:50:00Z By Aaron Nicodemus
Crypto-friendly Silvergate Bank will pay a total of $63 million penalties to California and the Federal Reserve Board to settle charges that its anti-money laundering program failed to properly monitor more than $1 trillion worth of customer transactions.
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