Concept Searching’s new Smart Content Framework : KMWorld

Concept Searching has announced the Smart Content Framework for information governance. The company says the toolset provides an enterprise framework to mitigate risk, automate processes, manage information, protect privacy and address compliance issues.

Concept Searching describes the Smart Content Framework as a multi-disciplinary solution—delivered through its technologies—that encompasses the entire portfolio of information assets. Underlying the Framework are functionalities to transparently tag content, classify it to organizational taxonomies, preserve and protect information through the automatic identification of records and privacy data, and act as a migration tool, Concept Searching says.

via Concept Searching’s new Smart Content Framework : KMWorld.

Another Lesson of News Corp Scandal: Beware Multi-Jurisdictional Bribery | Law.com

Journalists around the world no doubt read deep meaning into Sunday’s final edition of UK tabloid News of the World. But according to corporate-corruption expert Alexandra Wrage, the News Corp scandal should send a message to all companies doing business in multiple jurisdictions: shore up your compliance programs or be ready to face multi-jurisdictional consequences.

Wrage, president of Annapolis, MD-based TRACE, a non-profit anti-bribery compliance organization, says more and more multinational organizations are going to be faced with multi-jurisdictional compliance issues going forward. She says that News Corp’s alleged bribing of public officials is emblematic; companies paying a bribe in one country can expect more than ever that they’ll face enforcement actions in two, three, or more countries.

“I’m trying to find new ways to impress upon companies why it’s important that they avoid bribery risk of any kind,” says Wrage. “But increasingly what gets their attention is the fact that these cases have an almost unlimited shelf life.”

Wrage says that countries that have traditionally not taken action against bribery are increasingly piggy-backing onto other countries’ actions. “If you are a country under huge pressure to bring an anti-bribery case, but you have fairly underdeveloped prosecutorial service and very few resources,” she says, “it is much easier for you to go after a company that has already settled in another country than for you to investigate and establish a case for yourself.”

Wrage says News Corp faces actions not only in the United States (where the company is incorporated) and the UK (where the alleged wrongdoing occurred), but also in Australia because of its secondary stock listing.

“Australia could bring an SEC-like action for books and records violations, assuming the payments were made and assuming they were not accounted for as bribes—which they never are,” notes Wrage.

via Another Lesson of News Corp Scandal: Beware Multi-Jurisdictional Bribery.

Top 7 Legal Things to Know about Cloud, SaaS and eDiscovery — CIOUpdate.com

Cloud computing — or computing as a utility– has captured the interest of IT departments and bottom-line focused executives everywhere. Proponents of the cloud compare it to the shift in electrical power generation at the turn of the century, where companies had to generate their own electric power to run factories. Power generation was not a core skill, so outages were common and facilities had to be over-built (and then re-built) to meet peak requirements.

Leveraging expertise and economies of scale, electric companies soon emerged and began delivering on-demand electricity at an unmatched cost point and service level. Similarly, cloud proponents argue, the cloud/SaaS model delivers IT services economically and on-demand.

Yet the cloud is not without its detractors. As interest in the cloud has turned into actual initiatives, real issues and problems have emerged to inject some real-world requirements and temper some of the initial enthusiasm. And one of the key parties involved in raising and addressing these issues is legal counsel.

A common reaction is often to ask why legal is getting involved in technology decisions. Put simply, moving data to the cloud is not simply a technology decision, and the stakes around legal and compliance issues are very high.

For example, during the litigation process, the parties to a case have a legal obligation to identify and produce relevant electronically stored information (ESI). This requirement generally applies regardless of whether the ESI is contained in the corporate datacenter, a rented cloud infrastructure and/or in a SaaS application. Because a cloud or SaaS model typically shifts much of the control away from the company, meeting these requirements is no longer solely within the company’s capability. An understanding of these requirements is thus critical to properly assess and reduce ris

via Top 7 Legal Things to Know about Cloud, SaaS and eDiscovery — CIOUpdate.com.

Do you understand your IT System? « E-Discovery Lawyer

Beyond being able to identify where the “server” room is on a map, most business managers have no real comprehension of how their company’s information technology systems work. In many small and midsize businesses, the company’s Information Technology (IT) services are either outsourced or handled by one or more IT professionals without any direct interaction with management. However, new regulations and litigation concerns are changing this dynamic.

For example, Sarbanes-Oxley, the federal law that governs financial reporting for publicly traded companies, mandates that a senior management official be responsible for the accuracy, security and reliability of systems that manage and report financial data. Many other federal regulations have similar requirements. Aside from regulatory compliance, management’s understanding of IT systems can be a critical factor when a company faces litigation. Thus because of the complexity of today’s IT systems, management must be proactive in this area and not wait until litigation or compliance issues arise.

Today’s IT systems are indeed complex. For instance, there are two competing standards for delivering email to employee computers or PDAs via a remote server: POP and IMAP. While the end user may never know the difference, the way these two standards handle the routing of email are very different indeed. Under POP, the email is deleted from the server once it is downloaded. Under IMAP, two copies are kept of each email, one locally and one on the server, and no email is deleted from the server until a user purposely deletes it. This difference can be critical when a company is facing a subpoena calling for all copies of relevant email.

via Do you understand your IT System? « E-Discovery Lawyer.

StreetInsider.com – SciClone (SCLN) Tumbles on SEC Investigation, U.S. DOJ FCPA Compliance Issues

Shares of SciClone (Nasdaq: SCLN) are taking a tumble this morning as the company reported that they have been contacted by the U.S. SEC for an investigation. Shares are down 31% to $2.40 in the morning session.

According to the company’s Q210 earnings press release: “Subsequent to the end of the quarter, as disclosed in the Company’s 10Q to be filed today with the Securities and Exchange Commission (SEC), SciClone has been contacted by the SEC and advised that the SEC has initiated a formal, non-public investigation of SciClone. The Company has also been contacted by the Department of Justice (DOJ) who requested that the Company meet with the DOJ regarding its compliance with the Foreign Corrupt Practices Act (FCPA)…The Company intends to fully cooperate with the SEC and the DOJ in these matters.”

via StreetInsider.com – SciClone (SCLN) Tumbles on SEC Investigation, U.S. DOJ FCPA Compliance Issues.

Blavatnik Creation LyondellBasell May Face Kazakh Payment Probe – BusinessWeek

LyondellBasell, the bankrupt chemical company created by billionaire Len Blavatnik, may face a U.S. bribery probe after telling prosecutors about a potentially improper payment linked to a project in Kazakhstan, according to four people with knowledge of the matter.

LyondellBasell, which sought protection from creditors last year, told the Justice Department it uncovered conduct that raised “compliance issues” under the U.S. Foreign Corrupt Practices Act, according to a March 30 court filing in Manhattan. The FCPA makes it a crime for companies with U.S. operations to bribe foreign officials. A review of international holdings by a management team installed after the bankruptcy triggered the disclosure, said David Harpole, the company’s Houston-based spokesman.

“This is an active investigation,” Harpole said in an interview. “It’s not appropriate for me to comment on any details of that particular investigation. We are cooperating fully with the Department of Justice, and we are conducting our own internal investigation.”

Subsidiaries of LyondellBasell, based in Rotterdam, won court approval on March 11 for a disclosure statement, or rough outline of a reorganization plan. The company has said it plans to exit bankruptcy around April 30. While the probe would be unlikely to affect LyondellBasell’s emergence from bankruptcy, any FCPA investigation could result in fines and indictments, according to Evan Flaschen, chairman of the restructuring group at the Bracewell & Giuliani LLP law firm in New York. Flaschen isn’t involved in the case.

via Blavatnik Creation LyondellBasell May Face Kazakh Payment Probe – BusinessWeek.