CCO Certifications in FCPA Settlements are “Rotten Idea”

The recent Glencore FCPA resolution required the company's Chief Compliance Officer to certify its compliance program for the DOJ, under potential penalty of years in prison, which assistant attorney General Kenneth Polite says is not intended to be “punitive in nature.” However, Richard Cassin argues that it is a “rotten” idea, pointing out that a CCO cannot possibly know if the company's policies are being followed.