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Pages
Tag Archives: Compliance
Record-Breaking Countrywide Settlement Highlights Rising Exposures of US Businesses To Discrimination Prosecution
The Obama Administration sent another sharp reminder to U.S. businesses about their growing exposure to prosecution for illegal discrimination practices when it filed its largest residential fair lending settlement in history this week.
The latest in a stream of discrimination enforcement actions taken by the Obama Administration against U.S. businesses for alleged violations of U.S. civil rights and other discrimination laws, the settlement agreement announced December 21, 2011 provides for payment of $335 million in compensation to the more than 200,000 qualified African-American and Hispanic borrowers that Federal officials allege were victims of the widespread pattern or practice of illegal discrimination against qualified African-American and Hispanic borrowers by Countrywide Financial Corporation and its subsidiaries (Countrywide) while Countrywide served as one of the nation’s largest single-family mortgage lenders and originated more than 4 million residential mortgage loans. Bank of America now owns Countrywide.
Posted in Bankruptcy, CEO, D&O, Director Liabiloity, Employment, Fiduciary Responsibility, Fraud, Internal Controls, M&A, Officers, Reengineering, Shareholder Liability, Tax, Uncategorized
Tagged Compliance, directors liability, Employer, employment, facebook, Federal Sentencing Guidelines, Internal Controls, labor law, linkedin, NLRB, officers liability, Risk Management, Sarbanes-Oxley, social media, Sox, unfair labor practices, union
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IRS Releases Guidance on Foreign Financial Asset Reporting
The Internal Revenue Service in coming days will release a new information reporting form that taxpayers will use starting this coming tax filing season to report specified foreign financial assets for tax year 2011. US businesses with foreign assets or accounts need … Continue reading
Posted in Bankruptcy, CEO, D&O, Director Liabiloity, Employment, Fiduciary Responsibility, Fraud, Internal Controls, M&A, Officers, Reengineering, Shareholder Liability, Tax, Uncategorized
Tagged Compliance, directors liability, Employer, employment, facebook, Federal Sentencing Guidelines, Internal Controls, labor law, linkedin, NLRB, officers liability, Risk Management, Sarbanes-Oxley, social media, Sox, unfair labor practices, union
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New School Racial Accommodation Guidance Gives Important Insights For Schools & Other Organizations On Obama Administration Affirmative Action Enforcement
Race One Of Many Enforcement Priorities On Administration Agenda Schools as well as U.S. private businesses and governmental agencies generally should examine two new guidance documents available here detailing what voluntary affirmative action and racial integration options that the Obama … Continue reading
Posted in Bankruptcy, CEO, D&O, Director Liabiloity, Employment, Fiduciary Responsibility, Fraud, Internal Controls, M&A, Officers, Reengineering, Shareholder Liability, Tax, Uncategorized
Tagged affirmative action, Compliance, directors liability, education law, Employer, employment, facebook, Federal Sentencing Guidelines, Internal Controls, labor law, linkedin, NLRB, officers liability, public education, race discrimination, Risk Management, Sarbanes-Oxley, school, social media, Sox, unfair labor practices, union
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Justice Department Landlord Suit Shows Businesses Face Rising Disability Discrimination Enforcement Risks
DOJ Sues Another Landloard For Disability Discrimination Latest Action Shows Obama Justice Department Aggressively Enforcing Discrimination Laws The Justice Department on November 23, 2011 sued the University of Nebraska at Kearney (UNK), the Board of Regents of the University of … Continue reading
Posted in Bankruptcy, CEO, D&O, Director Liabiloity, Employment, Fiduciary Responsibility, Fraud, Internal Controls, M&A, Officers, Reengineering, Shareholder Liability, Tax, Uncategorized
Tagged Compliance, directors liability, Employer, employment, facebook, Federal Sentencing Guidelines, Internal Controls, labor law, linkedin, NLRB, officers liability, Risk Management, Sarbanes-Oxley, social media, Sox, unfair labor practices, union
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Businesses Face Rising Disability Discrimination Enforcement Risks
Enforcing disability discrimination laws is a high priority of the Obama Administration Business leaders increasingly recognize the need to tighten procedures to manage disability discrimination risks. The rising tide of enforcement actions highlights this expanding exposure. The July, 2011 Justice … Continue reading
Posted in Bankruptcy, CEO, D&O, Director Liabiloity, Employment, Fiduciary Responsibility, Fraud, Internal Controls, M&A, Officers, Reengineering, Shareholder Liability, Tax, Uncategorized
Tagged Compliance, directors liability, Employer, employment, facebook, Federal Sentencing Guidelines, Internal Controls, labor law, linkedin, NLRB, officers liability, Risk Management, Sarbanes-Oxley, social media, Sox, unfair labor practices, union
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Rising NLBR Enforcement Actions Signal Need To Prepare To Defend Anti-Union and Other Non-Union Specific Practices Against Potential Challenges
The National Labor Regulations Board (NLRB)’s announcement of a settlement against a Connecticut nursing home operator this week in conjunction with a series of other enforcement actions highlight the need for businesses to tighten defenses and exercise other caution to minimize their organization’s exposure to potential NLRB charges or investigation. As reflected by many of these enforcement acts, the exposures arise both from active efforts by businesses to suppress union organizing or contracting activities, as well as the failure to identify and manage hidden labor law exposures in the design and administration of more ordinary human resources, compliance, business operations and other policies and practices.
Posted in Bankruptcy, CEO, D&O, Director Liabiloity, Employment, Fiduciary Responsibility, Fraud, Internal Controls, M&A, Officers, Reengineering, Shareholder Liability, Tax, Uncategorized
Tagged Compliance, directors liability, Employer, employment, facebook, Federal Sentencing Guidelines, Internal Controls, labor law, linkedin, NLRB, officers liability, Risk Management, Sarbanes-Oxley, social media, Sox, unfair labor practices, union
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Executive’s Sentencing Reminder To Government Contractors, Subcontractors of Need To Manage Bid Rigging & Other Compliance Risks
The U.S. Department of Justice’s May 10 announcement of the sentencing of a company executive for conspiracy to commit mail and wire fraud in connection with bids on a contract for the repair of refuse carts for the city of Chicago highlights the need for businesses and business leaders to use care to ensure the honestly and accuracy of minority subcontractor and other representations made when bidding and contracting for government contracts and other conduct in connection with their business dealings with federal, state or local government agencies.
Posted in Bankruptcy, CEO, D&O, Director Liabiloity, Employment, Fiduciary Responsibility, Internal Controls, Officers, Reengineering, Shareholder Liability, Tax
Tagged bid rigging, Compliance, directors liability, Employer, employment, Federal Sentencing Guidelines, governemnt contractor, Internal Controls, minority recruiting, OFCCP, officers liability, Risk Management, Sarbanes-Oxley, Sox, subcontractor
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Improving the Effectiveness of Compliance & Risk Management By Getting HR On The Compliance Team
Businesses leaders concerned with managing risk that can arise when an employee or other workforce member violates Sentencing Guideline or other rules for which the business or leader is legally accountable should not overlook the value of getting their human resources department and others responsible for managing performance on the compliance team.
Posted in Bankruptcy, CEO, D&O, Director Liabiloity, Employment, Fiduciary Responsibility, Internal Controls, Officers, Shareholder Liability, Tax
Tagged Compliance, directors liability, Employer, employment, Federal Sentencing Guidelines, Internal Controls, officers liability, Risk Management, Sarbanes-Oxley, Sox
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Businesses, Their Leaders & Owners Risk Liability If Mismanage Employee Benefit Obligations
Businesses leaders struggling to deal with economic setbacks frequently may be tempted to use employee benefit plan contributions or funds for added liquidity or otherwise fail to take appropriate steps to protect and timely deposit plan contributions or other plan assets. A long and ever-mounting series of decisions demonstrates the risks that distressed businesses, their officers, directors and other employees fail to make appropriate arrangements for the proper fulfillment of employee benefit plan related obligations Continue reading
Cynthia Marcotte Stamer
slproc.com 