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Morgan Stanley Compliance Program Helps Prevent Prosecution

Morgan Stanley Compliance Program Helps Prevent Prosecution

AUGUST 2, 2012

An article from SAI Global discusses the Morgan Stanley FCPA case and the reasons why the government decided to not pursue the case. The article describes how Morgan Stanley was able to avoid prosecution because they were very open throughout the entire investigation. Morgan Stanley was able to show that it had a compliance program in place and that a rogue employee had been acting alone and without company knowledge when he violated company policies against bribery and corruption. When Morgan Stanley became aware of the corruption, it conducted an extensive nine month investigation into the matter and voluntarily disclosed the details to the DOJ, the SEC, and its own shareholders.

The bottom line: Investing the time and resources necessary to implement a solid compliance program now can prevent much larger potential losses in the future. Guidepost Solutions can help companies create and implement a proper compliance program to prevent fraud and to assist in investigations and in defending the company when a rogue employee commits a crime.

 

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