Och-Ziff Capital Management Group, LLC
Details
| Industry: | Banking & Finance |
| Underlying Misconduct: | Foreign Corrupt Practices Act |
| Matter Type: | DOJ Criminal |
| Relevant Jurisdiction(s): | US District Court for the Eastern District of New York |
| Penalties: | Fine |
| Fine Amount: | $213,055,689 |
| Reporting Agencies: | |
| Resolution Form: | Deferred Prosecution Agreement |
| Agreement Date: | September 29, 2016 |
| Monitor Reference Term: | Independent Compliance Monitor |
| Monitor Identity: | Unknown |
| Monitorship Term: | 3 Years |
| Monitor Selection Process: |
Host Organization provides candidate names to DOJ for selection. DOJ Policy. |
| Time to Propose Monitors: | Promptly |
| Time to Engage Monitor: | Promptly |
| Time to First Report: | 8 mos |
| Reporting Frequency: | Annually |
| Monitor Required Qualifications: |
Demonstrated expertise with respect to the FCPA and other applicable anti-corruption laws, including counseling on FCPA issues; experience designing and/or reviewing corporate compliance policies, procedures and internal controls, including FCPA and anti-corruption policies, procedures and internal controls; ability to access and deploy resources as necessary; sufficient independence to ensure effective and impartial performance of duties |
| Summary of Monitor's Scope: |
Primary responsibility is to assess and monitor the Host Organization's compliance with the terms of the Agreement, including the Corporate Compliance Program (Attachment C). Evaluate the effectiveness of the internal accounting controls, record-keeping, and financial reporting policies and procedures as they relate to current and ongoing compliance with the FCPA and other applicable anti-corruption laws and take such reasonable steps as may be necessary to fulfill mandate. Conduct an assessment of the Board and Sr. Mgt's commitment to, and effective implementation of, the corporate compliance program (Attachment C). |
| Summary of Monitor's Activities: |
Coordinate with Host Organization personnel, including in-house counsel, compliance personnel, and internal auditors on an on-going basis. Monitor may rely on internal work-product of the Host Organization's processes, subject to Monitor's confidence in quality of resources. Monitor to use a risk-based approach and not conduct a comprehensive review of all business lines, business activities or markets. Monitor may inspect relevant documents, conduct on-site observations, hold meetings/interviews, and conduct analyses, studies and testing of the compliance program. |
| Monitor's Restrictions: |
No business with Host Organization for at least 2 years after the expiration of the Monitorship. |
| Documents Uploaded: | Och-Ziff-SEC-Order-29Sept2016.pdf Och-Ziff-DOJ-DPA-29Sept2016-1.pdf |
