For foreign firms with U.S. operations, the prospect of U.S. litigation is increasing, along with a wide range of regulatory requirements in different industries. To manage the risk, businesses will need to start with a comprehensive legal strategy. In dealing with globalization, intellectual property issues, and policy uncertainty, both stateside and abroad, companies face a widening range of worldwide liability — hastened in some cases by the growth of litigation funding vehicles. In this environment, the threat of U.S. litigation is increasingly real for nearly any business with stateside operations. Full report.
Category Archives: Compliance
Nearing its halfway mark, 2019 is on track for record penalty amounts under the Foreign Corrupt Practices Act, a trend that should worry multinational corporations navigating compliance challenges both stateside and abroad. Last year, more than a dozen companies paid out $2.89 billion to settle cases initiated under FCPA, noted Risk Advisory in its annual Corruption Challenges Index survey. While first quarter 2019 FCPA enforcement actions were up slightly from the same period last year, the penalty amounts showed a dramatic upward shift. “In the first quarter of 2019 alone, the Securities and Exchange Commission and Department of Justice racked […]
The apparel and footwear industry has long faced steep import tariffs. As general counsel for Columbia Sportswear Company, Peter Bragdon is accustomed to navigating similarly complex and often cost-prohibitive import regulations in the U.S. and around the globe. Here, Bragdon debriefs how the company has prospered for nearly as long as one still-extant tariff bill, dating back to the 1930s. In an industry where intellectual property fights are common, what measures help Columbia safeguard patented technologies? We have focused on developing an extensive intellectual property portfolio, such as patents and trademarks, across the globe that we believe distinguishes our products […]
The largest regulatory fine leveled against a company since the General Data Protection Regulation was enacted in May 2018 is poised to reshape business compliance practices across industries. In late January, CNIL fined a big-tech giant nearly $57 million, citing what the French data-protection regulator saw as failure to meet the core requirements of informed consent under GDPR. As the decision goes through appeal, the debate is far from settled about what constitutes informed consent in personal data collection. Nor will the scythe cut only the tallest grass. Read the full report.
As general counsel for Norwegian Cruise Line Holdings, Daniel S. Farkas guided the company through a successful initial public offering. In addition to helping it grow its combined fleet to 26 ships, Farkas has assisted with navigating new markets. He reflects on the IPO process and how general counsel can get potential investors excited about a company’s growth prospects. As Norwegian sails into new waters, what regulations are you watching most closely, and how have you adjusted your daily operations to address them? Prior to beginning operations to Cuba in March 2017, we had to become well versed in all […]