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Corporate monitorship and compliance monitoring services
Companies facing corporate criminal or regulatory issues often resolve them through settlement discussions with enforcement and regulatory agencies. These discussions result in an agreement for deferred prosecution, non-prosecution, or corporate integrity, or in a plea agreement or administrative settlement. In these situations, the target of the enforcement action often agrees to inspection by a third-party compliance monitor or independent review organization.
While the corporate monitorship process may differ by enforcement agency, a government settlement agreement will generally require an organization to nominate a pool of independent compliance monitor candidates and submit a written proposal describing each candidate’s qualifications and credentials.
RSM’s independent compliance monitoring professionals meet the criteria to act in the capacity of a monitor, or to assist a monitor, based on our:
- Past experience in this role
- Reputation in the relevant professional community
- Extensive knowledge of monitoring compliance with legislative requirements
- Strong bench of skilled resources to effectively execute the monitor’s duties
Our corporate monitorship and compliance monitoring services include:
We perform a forensic investigation to help establish facts and circumstances. Our approach is predicated on the organization’s investigation objectives and will utilize resources with the right experience and knowledge. We perform comprehensive inquiries and examinations using data analytics to understand the situation, identify the cause and effect, evaluate implications and help develop corrective actions. Our customized recommendations, such as voluntary disclosure or specific corrective action, can also earn cooperation credit.
Compliance program, controls and systems assessment
Federal enforcement agencies are required to assess the effectiveness of an organization’s compliance program. Consequently, the terms and conditions in government settlement agreements—e.g., penalties, fines and any requirement for a third-party compliance monitor—are influenced by that determination.
We assess the compliance program’s design and recommend improvements to help the organization address the conduct and business practices that are targeted by the regulatory or enforcement agency and/or may be the subject of a proposed settlement agreement.
Independent compliance monitoring, or assistance with auditing and monitoring
We evaluate compliance with terms of the government settlement agreement by assessing determining how the organization manages its risks, and assessing the design and effectiveness of internal controls, specific internal control activities, and general information technology controls.
Settlement discussions and administration
We assist clients and their counsel with evaluating disgorgements, fines and penalties, including ability to pay settlements and proper accounting for disgorgement as stipulated by recent federal court cases.
We will administer the settlement plan pursuant to the terms of the settlement agreement, including evaluating the remediation plan, establishing communication programs, issuing required notices, processing claims, preparing and distributing claim payments, and preparing affidavits to report activity.
Relevant Compliance Monitoring Insights
RSM’s experience in corporate monitorship and compliance monitoring
RSM has worked with the Federal Trade Commission (FTC), the U.S. Department of Justice (DOJ), state attorneys general and the Federal Deposit Insurance Corporation (FDIC) in various monitoring capacities. In addition, our experienced team has helped many organizations develop and implement plans to respond to the DOJ, as well as to the Consumer Financial Protection Bureau (CFPB) and the U.S. Treasury, Office of Foreign Assets Control (OFAC).
We understand that different rules, regulations and laws apply to different industries. RSM professionals have worked with many regulatory agencies to provide independent compliance consulting and monitoring services pertaining to violations of:
- Consumer protection laws
- The False Claims Act
- The Foreign Corrupt Practices Act
- The Bank Secrecy Act
- Sanctions regulations
- Health care protection laws
- Security and privacy laws
- Antitrust laws
Through our knowledge and experience, we help companies improve their solutions for remediating or preventing wrongful or unlawful acts, activities and practices—with the ultimate goal of ensuring that our clients successfully meet the terms of their settlement agreement.