We had a talk with Richard L. Cassin, founder of the FCPA Blog, about financially rewarding whistleblowers, global enforcement trends, deregulation under U.S. president Donald Trump and the present "age of hyper transparency".1)
Living in the "Age of Hyper Transparency"
InternationalesCompliance Praxis 2018, 40 Heft 2 v. 1.6.2018
Inhalt
- Compliance Praxis: You founded the FCPA Blog about ten years ago. What was your professional background then and what was your motivation to start the blog?
- Who are the readers of the FCPA Blog?
- The U.S. Department of Justice is prosecuting corruption and bribery under the Foreign Corruption Practices Act (FCPA), not only in America, but worldwide. What‘s the purpose of this law?
- Since 2012 the United States Securities and Exchange Commission (SEC) has awarded more than USD 266 million to 55 individuals under the whistleblower program. Often, whistleblowers report FCPA violations. What do you think about the whistleblower program?
- Do you think financial incentives should be seen as best practice regarding whistleblower programs worldwide?
- To many people in Europe the word compliance sounds relatively new. How would you personally explain it to someone who does not know the word?
- Which elements of a compliance program do you regard as crucial for the effectiveness of the program?
- Anticorruption and compliance programs are becoming more common at companies worldwide. Nevertheless, big compliance scandals are hitting the news almost weekly. Is compliance failing?
- President Donald Trump seems to represent the very opposite of compliance culture. How is the Trump administration affecting the compliance and anti-corruption community in America (and worldwide)?
- What‘s your opinion about deregulation under the Trump administration, e.g. in the financial sector? What kind of consequences do you expect?
- In general: What are the current and likely future enforcement trends? What should companies in Austria expect?
