In The Press
A Call to Action: Cybersecurity Due Diligence in Today’s Business ClimateMay 17, 2018
Head of the Atlanta Office and General Counsel of the Americas, Steven D. Grimberg, and Head of Digital Investigations and Cyber Defense, Mark Ray, discuss best practices for cybersecurity due diligence in Emory University’s Corporate Governance and Accountability Review.read more
China’s new anti-graft agency brings key compliance riskApril 26, 2018
Nardello & Co. Associate Managing Director, Amie Chang, is quoted in this Compliance Week article on China’s newly created National Supervisory Commission (NSC):
The establishment of a powerful new anti-corruption enforcement body in China makes it imperative that foreign multinational companies carefully review existing interactions with public officials in the country and enhance their due diligence and third-party risk management efforts.
On March 20, China’s legislature—the National People’s Congress (NPC)—passed the Supervision Law, granting broad and powerful investigative and enforcement powers to the newly created National Supervisory Commission (NSC), the highest ever anti-corruption agency in China. The NSC is the merging of the Ministry of Supervision under the State Council (China’s Cabinet) and the anti-corruption investigation department of the Supreme People’s Procuratorate (the agency at the national level responsible for both prosecution and investigation in the People’s Republic of China). The new NSC will also carry out the responsibilities of the Communist Party of China’s Central Commission for Discipline Inspection (CCDI).
“The creation of a national supervisory system reflects historic calls to institutionalize the country’s anti-corruption drive,” says Amie Chang, an associate managing director at consulting firm Nardello & Co. based in Hong Kong. “The new setup essentially streamlines a two-track anti-corruption regime into a single-track system and bestows new powers upon the anti-corruption authorities.”
The creation of the NSC signals that political momentum for anti-corruption enforcement in China will not ease. “This is more than just a rebranding of the CCDI,” says Andy Gilholm, principal and director of the analysis practice for Greater China and North Asia at consultancy firm Control Risks. “It’s turning more proactive enforcement into a permanent feature of the environment, rather than a temporary crackdown, and creating a better-resourced and significantly more powerful agency.”read more
Investigations Firm Nardello Hires Chief Legal OfficerApril 6, 2018 By Stephanie Forshee
Mark Califano has been named chief legal officer and regional managing director of the Americas for Nardello & Co., effective this week.
The global investigations firm, which is based in New York, welcomed Califano in an announcement Thursday. Califano comes to Nardello from The American Express Co. where he served as senior vice president and managing counsel and since 2011 was in charge of the company’s global litigation and government investigations.
“I’m thrilled to be a part of the kind of work I’ve always enjoyed doing,” Califano said in a phone call soon after his hire was announced. “This is a company with an incredibly solid reputation. They see opportunity for growth over the next few years, and I’m here to make sure we do that.”
Recently, at American Express, Califano was tasked with leading the charge in a major antitrust case brought by 11 states against the credit card company over its alleged “anti-steering” provisions, which the states claim prevent merchants from promoting the use of other credit cards with lower fees. Oral arguments in the case Ohio v. American Express were heard by the U.S. Supreme Court in February.
Califano said his transition to Nardello following the conclusion of arguments in the case was by design. “This had been in the works and I wanted to make sure we could have the argument submitted for decision,” he said. “My work was sort of done.”
Califano declined to comment on what he anticipates the high court’s decision, expected in June, will be.
He also worked with the company on global investigations on issues involving potential money laundering or other fraudulent or criminal activity.
At Nardello, Califano replaces Lucy Fato, who joined American International Group Inc. as its general counsel last year.
“Mark’s diverse background and experience make him superbly qualified for this position, and we are fortunate to have someone of his caliber join the firm’s leadership team,” CEO Dan Nardello said in Thursday’s announcement. “Mark’s wealth of experience with complex global investigations, compliance, corporate governance and cybersecurity will add immediate value to the firm. The depth and breadth of his skill sets and accomplishments, coupled with his proven legal acumen and judgment, will help our clients navigate their most complex challenges.”
Prior to joining American Express, Califano served as senior VP and head of litigation and legal policy at General Electric Capital Corp.
Before going in-house, he led the independent investigation into the United Nations Oil-for-Food Program from 2004 to 2006. There, he reported to Paul Volcker, former chairman of the Federal Reserve. The team identified systemic corruption in the UN program that allowed Iraq to sell oil internationally in exchange for food, medicine and other humanitarian supplies.
The investigation, Califano said, was what kicked off “the explosion” of many associated Foreign Corrupt Practices Act prosecutions near the end of 2005.read more