News and analysis for the well-informed compliance or audit exec.
Annual Membership best value
Subscribe now for $365
Our lowest price ($1 per day) for one year.
- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Adrianne Appel2023-03-16T13:58:00
Businesses and compliance professionals should expect the Department of Justice’s (DOJ) new compensation clawback policies to be applied on a case-by-case basis, with broad discretion, according to legal experts.
The clawback pilot program, announced March 2 by Deputy Attorney General Lisa Monaco, is part of a series of recent policy changes by the DOJ aimed at incentivizing companies to stay on the right side of ethics and the law. The agency also announced revisions to its Evaluation of Corporate Compliance Programs guidance regarding off-channel communications and new criteria for selecting compliance monitors in criminal cases.
The clawback pilot, launched Wednesday, will last three years and consists of two primary parts. First, companies are expected to link employee bonuses to compliance metrics. Second, businesses that get into trouble with the DOJ can earn a fine reduction, in whole or in part, if they seek to claw back compensation from corporate wrongdoers. If a company is successful and claws back the money, any potential fine could be reduced by the entire amount.
THIS IS MEMBERS-ONLY CONTENT. To continue reading, choose one of the options below.
News and analysis for the well-informed compliance or audit exec.
Annual Membership best value
Subscribe now for $365
Our lowest price ($1 per day) for one year.
2023-10-05T18:50:00Z By Kyle Brasseur
The Department of Justice’s push to incentivize companies to voluntarily self-disclose potential misconduct reached its next stage in the form of a safe harbor policy regarding mergers and acquisitions.
2023-06-21T14:06:00Z By Kyle Brasseur
Tool manufacturer Stanley Black & Decker avoided a civil penalty in settling with the Securities and Exchange Commission regarding alleged violations of executive perk disclosure rules.
2023-03-23T20:20:00Z By Kyle Brasseur
Compliance officers seeking clarity on what the Department of Justice means by “extraordinary” cooperation or “immediate” self-disclosure should look to the agency’s case history, said Assistant Attorney General Kenneth Polite Jr. during a speech.
2024-07-02T19:43:00Z By Aaron Nicodemus
The U.S. Supreme Court extended the statute of limitations for businesses attempting to challenge some federal regulations, allowing regulated entities a longer timeline to appeal a decision.
2024-06-28T19:55:00Z By Aaron Nicodemus
The Supreme Court of the United States overturned a long-held precedent in which courts deferred to federal agencies in interpreting complex or ambiguous regulations–a decision that could make thousands of federal regulations more vulnerable to legal challenges.
2024-06-28T17:00:00Z By Aaron Nicodemus
Financial institutions would be required to conduct more thorough risk assessments on their anti-money laundering/countering the financing of terrorism programs under a new rule proposed by the Treasury Department’s Financial Crimes Enforcement Network.
Site powered by Webvision Cloud