By Sidd Pattanayak:
I’m excited to be teaching Global Compliance: Introduction and Best Practices this fall, mainly as the topic is not only timely for lawyers and their clients, but also for the general public.
Just take a look at the home pages of newspapers such as the New York Times, Le Monde and the South China Morning Post, and you’ll see daily articles about corruption investigations involving senior governmental officials and multinational companies, money laundering cases involving prominent banks, sanctions changes and violations, data privacy breaches, and other compliance-related scandals.
You don’t have to represent a large multinational conglomerate to know that compliance issues affect everyone in this era of globalization. An American company that uses third party international distributors has to be mindful of FCPA/UK Bribery Act exposure. A Chinese conglomerate acquiring a European chemical company has to consider the impact of EU antitrust review. A website operated in Australia has to consider whether they are adequately protecting their users’ data not only in their home country, but users in faraway continents.
Those are just a few examples of how compliance affects almost everyone around the world. Of course, it is impossible to become an expert on literally hundreds of thousands of compliance laws in jurisdictions from Albania to Zaire. The key is to have a consistent, holistic approach to dealing with compliance issues, big and small.
That is the primary focus of this course – how lawyers and their clients can find an approach or “best practice” with respect to these issues. We will do a general survey of some of the key “alphabet soup” statutes – FCPA, UK Bribery Act, OFAC, and other prominent laws. Then we’ll look at some case studies of prominent companies and other organizations, including Google, HSBC, Wal-Mart and others, and take away learnings that students can use in their field of practice, enhancing their professional skills while adding value to their employers.
Students will be evaluated primarily on their approach to hypotheticals – whether it’s how to set forth guidelines for local salespersons regarding FCPA compliance, preparing a memo for a client’s CEO about senior management liability, or how simply to respond to their client’s chief financial officer, who wants to set aside a reserve for potential regulatory violations.
I look forward to a robust discussion among students on the discussion boards about what they think a “best practice” is, based on their own personal experiences (good and bad). Sharing of these experiences, along with the other elements in the course, will help students craft their own best practice approaches for tackling global compliance issues in the best manner possible.
Professor Pattanayak’s course, Global Compliance: Introduction and Best Practices, is offered in the all-online format this fall 2016. The course is an elective in the Executive LLM curriculum and is a core course in both the Concentration in Enterprise Risk Management and Compliance as well as the Certificate in Enterprise Risk Management and Compliance.