With both VW and ZTE having very bad weeks, Jay Rosen and myself are back in the saddle  again to take a look at some of the top compliance stories from the past week.

  1. Having a bad week-Part 1, Volkswagen. First the head of its Audi unit is announced to be under investigation (here). Then Germany fines the company €1 bn for the emissions-testing fraud (here). Finally German prosecutors rejct the myth of “rogue engineers” in the scandal, saying the company is responsible as a whole (here). All reported in the New York Times.
  2. Having a bad week-Part 2, ZTE. After having reached a settlement between ZTE and the Department of Commerce, Congress moves to block the settlement. Michael C. Bender,  Siobhan Hughes and  Kate O’Keeffe report on the political perspective in the Wall Street Journal. From the compliance angle, many questions abound. Gerry Zack, writing in the FCPA Blog, says don’t call the persons reporting to the DOC mandated compliance officers as they are monitors. Matt Kelly offers up informative FAQs on the monitorship in Radical Compliance. Tom considers the uncharted waters of the settlement in Compliance Week(sub req’d)
  3. The court evisserates the DOJ’s argument against the AT&T purchase of Time Warner. Henry Cutter uses the merger go-ahead from Judge Leon to explore the compliance challenges in mega-mergers (and small ones too). In the WSJ Risk & Compliance Journal.
  4. Bill Steinmann says (yet again) that FCPA enforcement is not dead. It’s not that he’s tired of saying it, he just wishes the nay-sayers would unplug their ears and start to listen. On the FCPA Blog.
  5. Goldman Sachs made $600 peddling 1MDB bonds. The new Malaysian government wants some of that money back. Alexandra Stephenson and Hannah Beech report in the New York Times.
  6. CCO’s behaving badly. The Standard Chartered CCO has left the bank for inappropriate behavior. Sam Rubenfeld reports in the WSJ Risk & Compliance Journal.
  7. Looking to do business with Trump’s newest buddy North Korea? Dick Cassin says be careful, be very careful in the FCPA Blog.
  8. Anti-piling on is a two-way street, as it requires responsible actions by companies as well. Michael Griffiths reports in GIRon remarks by Justice Department FCPA Unit Chief Dan Kahn.
  9. Need some CLE or Compliance know-how? Join Tom’s Compliance Master Class, which next week Houston on June 21 & 22. Just a couple of seats left. Information and registration is available here. Learn about compliance from the guy who wrote the book on compliance.
  10. Support your local book sellers! River Oaks Bookstore, 3270 Westheimer, in Houston is now stockingThe Complete Compliance Handbook. Tom will be on hand for a book signing on Thursday, June 28 from 5:30 to 7.
  11. Tom’s new book The Complete Compliance Handbookremains a hot seller. It is available oncom. Purchase an autographed copy here. It is reviewed in the FCPA Blog, Radical Complianceand Corruption, Crime and Compliance.
  12. Serving up some Breakfast and Compliance. Join Tom in Boston on June 25 at the offices of Affiliated Monitors to learn here about show the story of compliance is the story of innovation. For more information and registration, click here.


For more information on how an independent monitor can help improve your company’s ethics and compliance program, visit our sponsor Affiliated Monitors at www.affiliatedmonitors.com.