Clean Your Room: Historical Corporate Misconduct and the Post-COVID Era
May 29, 2020
Clean Your Room: Historical Corporate Misconduct and the Post-COVID EraDownload Whitepaper
It will take some time before we can gauge the full breadth of social and economic damage caused by the coronavirus (COVID-19) outbreak.
Once the gears of the economy finally begin to turn, the new landscape will bring legal actions and regulatory enforcements throughout many industries, targeting corporate misconduct with fines, penalties, disgorgements, judgments, and criminal convictions.
Examination of some recent historical crises and market downturns offer key insights into the most likely areas of concern once the pandemic finally recedes.
If the Great Recession of 2008, Hurricane Katrina, the dot.com bubble, and Operação Lava-Jato (“Operation Car Wash”) are any indication, then fraud and FCPA enforcement actions, along with increased SEC scrutiny of financial reporting and corollary class action litigation related to COVID-19, can be expected to proliferate.
Considering a historical view of major crises and market downturns, it is paramount, now more than ever, for organizations to ensure compliance with financial, governmental, and operational regulations.
In the post-COVID era, your organization’s legal and compliance departments should endeavor to mitigate the risk of fraud, bribery, corruption, and other forms of corporate misconduct within the organization, and do so while driving cost savings wherever possible.
In this whitepaper, we offer several recommendations to help firms “clean your room” to ensure profitability, growth, and compliance in the months and years to come.