• FCPA

    Vantage Drilling, General Lee and the Culture of Compliance

    Gin is a noble spirit; without vermouth, perhaps a lonely one.  Similarly, having a compliance program, yet failing to follow it in the presence of some red flags is both lonely and expensive, as we see in the internal accounting controls FCPA case that Vantage Drilling recently settled with the SEC.  Is this a problem with culture?  And what is “culture,” anyway, in terms of FCPA compliance? Except perhaps for “paradigm” and “silo,” the word “culture” is one of the most abused in the vocabulary of compliance, ethics and consultants.  (I once heard a consultant say that he needed “a high hover over the silos.”  I thought it an ironic mash-up…