INSIDE COMPLIANCE – Page 29 – Loyola University Chicago School of Law

Possible Pitfalls of the New DOJ Compliance Policy

September 15, 2022Fraud & Abuse

In March 2022, the U.S. Department of Justice (DOJ) introduced a new policy idea that requires a Chief Compliance Officer (CCO) undergo certification. This certification requires CCOs to attest at the end of company resolutions that their compliance program is reasonably designed to detect and promptly remedy behavior suspected or known to be in violation of applicable laws. The new policy is part of an effort to take more proactive measures against criminal behavior and activities such as fraud, bribery, corruption, etc. The certification is also aimed at empowering the CCOs as they speak on behalf of their company’s obligations to the compliance program.

CCODOJpersonal liabilityRegulationwhite-collar crime

DOJ Renews Efforts to Prosecute White-Collar Crime

September 15, 2022Uncategorized

In October of 2021, the Department of Justice (“DOJ”) announced it would ramp up its enforcement against corporate repeat offenders of white-collar crimes and prioritize action against individual actors to promote accountability. The new measures implemented permit the DOJ to consider all prior wrongdoing by a corporation when deciding how to resolve a new investigation. Leniency programs of the past will not be extended to wrongdoers unless all believed participants, whether employees or executives, are disclosed. There has also been a shift from financial penalties to probationary settlements, which require companies not only to admit fault and pay fines but also to improve their monitoring of employees to deter crime. This may require outside monitoring to verify compliance, which can be burdensome and expensive.

DOJenforcementJournal of Regulatory ComplianceprosecutionRegulationwhite-collar crime

Meta Sued for Unlawful Collection of Patient Data

September 15, 2022HIPAA & Health Information

A recent class action lawsuit alleges Meta (the parent company of Facebook) used an illegal tracking tool to retrieve patient information from over 664 hospitals for marketing purposes. Meta and a handful of US-based hospitals have violated privacy laws such as HIPAA that control the means and methods for lawfully handling covered medical information. John Doe filed the case on June 17, 2022, in the U.S. District Court for the Northern District of California, seeking class action certification for a jury trial to recover compensatory damages and attorney’s fees.

HIPAAMETAPrivacy & Security

The AMLA – Blowing the Whistle on Fraud

September 14, 2022Fraud & Abuse

Whistleblowing – a powerful weapon in the arsenal of defense against fraud – is a highly effective tool utilized by the government to enforce regulatory compliance. Nevertheless, many employees remain hesitant to initiate criminal proceedings. In 2021, in an effort to dispel such concerns and to empower potential whistleblowers to take action, Congress enacted the Anti-Money Laundering Act (AMLA).

abuseanti money laundering actfraudwhistleblower

The SEC and Its ESG Investment Disclosure Proposal

September 14, 2022Fraud & Abuse

The Securities and Exchange Commission (SEC) established the Environmental, Social, and Governance (“ESG”) Task Force in 2021. In March and May of 2022, the SEC proposed a disclosure rule “forcing publicly traded companies to disclose how climate change could threaten their businesses and describe their contributions to global warming.” The rule further accentuates the SEC’s mission “to protect investors, maintain fair, orderly, and efficient markets, and facilitate capital formation.” However, the proposal has faced substantial opposition, as some believe the proposal exceeds the SEC’s authority.

ESGInvestment advisorRegulationSEC

A New FDA Rule Will Change the Future of the Hearing Aid Industry

September 14, 2022Food and Drug Law

Thanks to a new FDA final rule, published in August of this year, Americans can soon purchase specific hearing aids over-the-counter (OTC) without a hearing exam, prescription, or fitting. Although this rule will improve access to hearing aid devices and lower the costs for those with hearing impairments, many critics are convinced the rule will do more harm than good.

FDAhealthcaremedical device

Patient Privacy in the Post Roe Era

September 9, 2022HIPAA & Health Information

On June 24, 2022, the Supreme Court finally handed down its long-awaited opinion in Dobbs v. Jackson Women’s Health Organization. In this decision, the Court set aside nearly 50 years of precedent and unequivocally overruled Roe v. Wade, declaring that there is no Constitutional right to abortion. This decision will unsurprisingly change laws and significantly impact millions of people across the country. Although pro-choice activists have been bracing for this outcome and mobilizing to maintain access to abortions, they have to contend with a consideration that did not exist to the same magnitude the last time that abortion was illegal in the US: anti-abortion laws’ impact on data privacy.

abortionbig techCivil Rightsdata privacyDepartment of Health & Human ServicesHIPAApatient dataPrivacy & SecurityprosecutionSupreme Court

Website Accessibility: What to Know About the ADA’s New Guide

September 9, 2022Uncategorized

In the recent years, there has been a significant increase in website accessibility lawsuits where plaintiffs claim that they cannot access websites because they are incompatible with assistive technology. Particularly, the number of Americans with Disabilities Act (ADA) Title III website accessibility lawsuits filed in federal courts in 2021 jumped 14% over 2020. This March, the U.S. Department of Justice published new guidance on website accessibility under ADA, however, businesses still struggle with understanding their compliance responsibilities.

ADAJournal of Regulatory ComplianceTitle III

Big-Name Company Exodus in Illinois: How Companies Leaving Illinois Affects the State and Its Future Outlook

September 8, 2022Finance & Banking

Several big-name companies, corporations with recognizable names, headquartered in Illinois are exiting the state in mass numbers for a variety of reasons. This blog discusses the impacts and outlook for Illinois as this corporation exodus affects the state’s revenue streams. It also looks at how lawmakers, in-house lawyers, and internal compliance teams can keep companies in Illinois.

Earlier this summer, Ken Griffin, CEO of Chicago’s largest hedge fund, Citadel, announced that it is moving the firm’s headquarters to Miami. This news follows the departure of several other companies that were headquartered in Chicago like Boeing, Caterpillar, and grocery stores like Aldi.

ChicagocompaniescomplianceCorporationsIllinoisOutlooktax

Is this JUUL’s Final Goodbye?

September 8, 2022Uncategorized

On June 23rd, 2022, the U.S. Food and Drug Administration (FDA) announced that JUUL Labs, Inc., the notorious e-cigarette manufacturer, is ordered to cease distribution of their products in the United States. Since the company’s rise, one of the biggest pushes towards restricting JUUL products in stores across the nation has been fueled by discouraging youth vaping and the uncertainty regarding future health implications. The National Youth Tobacco Survey found that in 2021, approximately two million middle and high school students have reported using e-cigarettes. Meanwhile, more studies are surfacing regarding the adverse health effects that nicotine and e-cigarette products may have.

Journal of Regulatory ComplianceRegulation