–Raymond Donovan, former Labor Secretary under President Reagan, after being acquitted
Over the past few months, we started a series of articles in Forbes on the criminalization of the boardroom. Each time we finished one article in the series, a lawyer or former defendant would contact us with a story which inspired yet more articles. Now, the Corporate Counsel Business Journal has decided to reissue the entire series for its 40,000 general counsel readers, while other board publications are summarizing it. In the next few weeks, a new eBook will be released, containing the best of these articles as well as new information on trends we are uncovering both in the US and abroad. There will soon be two new broadcasts on the subject as well. Clearly, we have hit a nerve.
In this excerpt from the CCBJ, we examine what US companies can do to inoculate themselves from potentially devastating legal and regulatory probes. While there are no sure-fire remedies, there are a number of steps smart companies should consider now, which are outlined in the short piece in the link below.
The question of how we limit damage, preserve reputation and the company brand, and resurrect it if necessary are always much easier if we have used our peacetime wisely.
As one lawyer said to us this week, “your timing is good,” as the Department of Justice just issued new guidelines providing greater detail about what prosecutors should look for in compliance programs.