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CFPB Examinations of Mortgage Servicing Transfers Webcast

Fri, 23 Aug 2013 00:00:00 -0500

The issuance of CFPB (Consumer Financial Protection Bureau) Bulletin 2013-01 earlier this year marks stepped up efforts to counter mortgage servicing transfer problems and address consumer protection concerns. Under the proposed guidance, CFBP will conduct examinations and continuous monitoring of servicing transfer to determine whether or not the mortgage-related transactions entered into by servicers (banks and nonbanks) are in compliant with consumer finance laws. The new regulations will also require servicers to submit documentation on how to address risk management and they will require enhanced procedures in order to comply with the transfer-related aspects recently issued servicing rules which are set to take effect in January 2014.

In light of this unprecedented change, finance executives, compliance officers and attorneys who practice in the mortgage industry and related segments must have a complete understanding of the proposed guidance. A panel of thought leaders and experienced practitioners organized by The Knowledge Group will offer a substantive discussion from a 360-degree perspective regarding this significant and game changing law. The speakers will present their opinions in a two-hour LIVE Webcast which will be concluded by a LIVE Q&A session.

2013 Clinical Documentation Improvement Summit

Mon, 05 Aug 2013 00:00:00 -0500

Navigant’s Wendy Whittington to speak at the 2013 Clinical Documentation Improvement (CDI) Summit on CDI Innovation within the Clinical Documentation Improvement Program. Current healthcare market pressures are demanding changes. Hospitals and providers must improve the accuracy of clinical documentation while preparing for classification and automation changes. AHIMA’s Clinical Documentation Improvement Summit will provide participants an opportunity to prepare for the future, gain an edge in the latest documentation strategies and move forward with best practices.

Presenter
Wendy Whittington, MD, MMM, Director, Navigant Healthcare
Wendy has extensive clinical practice experience, as well as a background in healthcare administration and information technology. Wendy is skilled at helping healthcare providers break down silos and align their health information technology strategic plans with efforts to improve their clinical documentation while preparing for ICD-10.

KAW’s 5th ANNUAL AML/CFT, Anti-Fraud & Financial Crimes Conference

Mon, 08 Jul 2013 00:00:00 -0500

Richard Kando, Director in Navigant’s Global Investigations & Compliance Practice, will join a panel of experts to discuss “FATCA - The Challenges and Benefits for the Caribbean”

IIB - Annual Tax Seminar

Mon, 17 Jun 2013 00:00:00 -0500

This seminar is the Institute’s most important event of the year on tax issues, bringing together government officials and private-sector experts (including representatives of Institute member banks and member firms of our Professional Liaison Committee), who will provide a detailed and authoritative review of the key tax issues and developments affecting internationally headquartered banking/financial institutions operating in the United States.

Ellen Zimiles will be participating on a panel discussion on the “FATCA Registration Process”.

The Long Arm of the U.S. – FATCA Comes to Kuwait

Mon, 17 Jun 2013 00:00:00 -0500

Jon Harvey, newest Director in the Global Investigations & Compliance practice, will discuss challenges to implementing a successful FATCA compliance program for FFIs and establishing assurance mechanisms to monitor compliance. He will describe the typical approach to implementing the FATCA compliant program, the role of systems technology in accelerating implementation of the auditable client account due diligence and classification process.

AML: Automate Your Compliance - Webinar

Wed, 12 Jun 2013 00:00:00 -0500

With increased scrutiny of AML guidelines and laws comes the need to maximize revenue while adhering to regulations.

Please join us for this exciting one hour complimentary webinar to explore:

The challenges faced by Financial Services Organizations with the increased scrutiny over AML and AML operations
The specific risks and challenges with the process of Transaction Monitoring and data collection
Understanding the impact of recent enforcement actions on AML operations with a focus on Transaction Monitoring

Speakers:

Alma Angotti – Director, Global Investigations & Compliance at Navigant
Jonathan Chin – Product Management Specialist at Infogix

SEC Seeks Enforcement, Whistleblower Program Expansion

Mon, 10 Jun 2013 16:51:00 -0500

Navigant’s James Rough and Joseph Roth of Osborn Maledon co-authored this update for the ABA Section of Litigation, Criminal Litigation Committee on the expansion of the SEC Whistleblower program.

Click here to read the full update.

Whistleblowers in the Dodd Frank Era: Practical Tips to Avoid and Mitigate Risk

Wed, 05 Jun 2013 00:00:00 -0500

Navigant will host this roundtable event where a panel of experienced in-house counsel will address recent developments in the laws applicable to whistleblower claims in the wake of Dodd Frank, offering practical insights, fact based experiences and suggested best practices to minimize corporate exposure, incentivize internal reporting and avoid retaliation claims. As both the number and size of whistleblower claims continue to increase, the stakes have never been higher for corporate America, and the panel will offer timely and concrete suggestions to navigate the minefield of associated risks.

Speakers include:

Moderator - Mark Pollack, Esq., Partner, Paul Hastings LLP

Panelist:

Dennis Kerrigan, Esq., Executive Vice President, General Counsel and Corporate Secretary, Zurich North America
Sarah DiLorenzo, Esq., Senior Counsel, Global Compliance and Privacy, McDonald's Corporation
Richard Parker, Esq., Deputy General Counsel, Director of Legal Operations, Wolters Kluwer
Amy J. Carletti, Esq., Senior Counsel, Ethics & Compliance, Baxter International Inc.

FATCA for Small Banks – Breakfast Briefing

Wed, 15 May 2013 00:00:00 -0500

FATCA for Small Banks – Breakfast Briefing

FATCA Implementation Guidance for Small Banks

The U.S. Foreign Account Tax Compliance Act (“FATCA”) will take affect from January 2014, making substantial changes to information reporting and compliance requirements for offshore accounts. Compliance with the new FATCA regulations will require significant changes to current process and procedures, which will be particularly challenging for small banks.

This focused briefing will enable small banks to effectively address FATCA's most critical challenges before the rules take effect in 2014. It will provide you with an update on the regulation and clear guidance on what compliance involves.

Topics on the agenda include:

Introduction to FATCA
Summary of the U.S.-U.K. Intergovernmental FATCA Agreement
Update on key timelines and priorities for the next 12 months
Implications and challenges for small banks
Putting FATCA into practice
What do small banks need to do to be FATCA compliant?

Jamaica Institute of Financial Services – FATCA Implementation Seminar

Thu, 09 May 2013 00:00:00 -0500

Richard Kando, Director in Navigant’s Global Investigations & Compliance Practice, will speak at the Jamaica Institute of Financial Services’ FATCA Implementation Seminar on how foreign financial institutions can implement FATCA

IIB - Annual Anti-Money Laundering Seminar

Tue, 07 May 2013 00:00:00 -0500

This comprehensive full-day program provides a forum for international bankers and their legal and compliance advisors to hear the latest developments in this critical area from public and private sector experts. The seminar will cover the latest developments in such key areas as agency rulemakings, enforcement actions, evolving compliance standards, Iran sanctions, recent experience with BSA/AML examinations, cyber security issues affecting wholesale financial institutions, as well as practical suggestions for an effective BSA/AML compliance function. In view of the heightened scrutiny of BSA/AML compliance by regulators and Congress, all IIB member institutions are strongly encouraged to be represented at this important event.

FCPA Hypothetical: Ethical Issues

Thu, 02 May 2013 00:00:00 -0500

Navigant Director Ken Yormark joins a panel at the PLI seminar on the Foreign Corrupt Practices Act and International Anti-Corruption Developments. The panel will discuss ethical considerations in internal investigations; attorney-client privilege/waiver; dealing with other countries’ governments; and privacy and data security.

M&A Season: What to Expect, and Are You Ready?

Thu, 25 Apr 2013 00:00:00 -0500

Anthony B. Creamer III, a CPA and managing director at Navigant, and Jay Dubow, a corporate litigation lawyer at Pepper Hamilton, address what board members should look for when their company is buying or selling a business.

4th Annual West Coast Forum on Sunshine and Aggregate Spend

Tue, 23 Apr 2013 13:56:00 -0500

Navigant’s Mark Farrar and Chris Castro will be presenting at the West Coast Forum on Sunshine and Aggregate Spend on monitoring aggregate spend policies and processes. They will explore the universe of applicable policies and processes, including those not yet contemplated or created, and how to conduct testing and monitoring to identify potential gaps in processes.

FATCA for Small Banks Breakfast Briefing

Mon, 15 Apr 2013 00:00:00 -0500

The U.S. Foreign Account Tax Compliance Act (“FATCA”) will take effect from January 2014, making substantial changes to information reporting and compliance requirements for offshore accounts. Compliance with the new FATCA regulations will require significant changes to current process and procedures, which will be particularly challenging for small banks.

Conduct Risk

Wed, 27 Mar 2013 14:52:00 -0500

Click here to view questions.

Regulatory Climate

Looking at the 2013 changes in the UK regulatory environment it is fair to say the new UK Financial Services Regulatory requirements represent significant challenges and possible opportunities to the firms in the industry. Many of the major projects underway are driven explicitly by regulatory requirements or have the regulators as a key stakeholder. A significant proportion of these changes have the customer at their very heart. The newly formed Financial Conduct Authority (FCA) is driving conduct change forward and has clearly stated their goals and modus operandi:

‘From the boardroom to point of sale and beyond firms’ behaviour, attitudes and motivations must be about good conduct…. We will step in earlier and act faster when we identify problem…’ [1]

Conduct Consequences

Aside from the new powers available to the FCA to censure, fine and withdraw products - all leading to significant cost and brand damage - the inability to demonstrate conduct risk management will see the regulator requiring significant increases in capital requirements, impacting firm’s ability to compete, grow and provide good returns to their investors.

Truly Placing Customers at the Heart of your Business

Central to a firm’s ability to meet the FCA obligations is the need to identify, manage and mitigate conduct risk across all parts of the business model and product lifecycle. Yet at this moment in time many firms:

Are unable to articulate either their conduct risk exposure or how they are managing this risk.
Have not developed their risk model to support conduct risk management.
Have little understanding as to how to ensure customers are delivered a consistently high quality customer experience.

Of course not all firms are starting from the same place, conduct principles are rooted in the FSA’s Treating Customers Fairly (TCF) six outcomes and the FCA see TCF as core to how firms must treat their customers. Those companies with strong TCF credentials embedded within their business are starting from a far stronger position. Although the bar is rising rapidly with the need to ensure Root Cause Analysis (RCA) supports continuous improvement and areas within the business model, such as product development and complaints management, will see a significant regulatory focus and robust challenge. This challenge will establish if conduct risk is not only considered well mitigated but is resilient to market/business shocks as well. Individual firms responses to these new obligations have been varied, some firms have adopted a ‘wait and see policy’ while others are actively addressing areas of deficiency.

Assessing Your Gap

In order to first gauge your position a firm has to answer the following questions:

Have you an established conduct risk appetite? Is this reflected in your customer and business strategies?
Can you identify the areas of your business that conduct risk has the greatest impact?
Can you quantify the conduct risk for your current products and back book – and how are you mitigating it?
Are your staff aware of their regulatory obligations to your customers, how is this reflected in their incentivisation and performance management?
Is conduct risk identified and managed within your overall risk model?
Does your Treating Customers Fairly framework help to mitigate your conduct risk exposure? Have you a clear action plan covering how, and where, your Treating Customers Fairly framework may need to be improved?
Do you gather customer feedback on conduct risk? Does it support your conduct risk management performance?
Do your new product development activities robustly support the FCA’s conduct requirements?
Do you show that your marketing and customer segmentation activities meet conduct obligations?
Are you clear on your conduct risk obligations where your products are sold by third parties?
Does your complaints feedback and root cause analysis of complaints ensure improvements in the way you deliver to your customers?
Aside from in complaint handling, are you undertaking root cause analysis on other sales and servicing activities?

If you can’t confidently answer yes to each of these 12 questions and would like to discuss these in more detail in relation to your specific sector or any other aspect of Conduct Risk, please contact your industry lead at Navigant.

[1] Source: The FSA, Journey to the FCA, October 2012 http://www.fsa.gov.uk/fca

Advantage: Putting the Customer Wrapper on Packaged Accounts

Mon, 25 Mar 2013 12:40:00 -0500

From the 31^st of March 2013 new Financial Services Authority (FSA) rules come into force aimed at increasing consumer protection for customers who purchase packaged accounts from banks and building societies. In this article we explore some of the past, present and future challenges including some practical actions firms can take to ensure that the customer and conduct risk management is at the heart of a balanced packaged account proposition.

In the past packaged accounts were considered a marketer’s dream. Combining a current account with a myriad of other features such as different types of insurance, preferential credit and debit facilities or interest rates, music and video downloads, money-off your shopping - the list goes on - they appeared to offer something for everyone. Furthermore, they remove the traditional reliance upon net interest income as the monthly fee provides a good, predictable, regular revenue stream. Hence banks and building societies promoted them heavily as an attractive alternative to the world of ‘free banking’. They certainly proved popular with an estimated one in five customers paying an average of £15 per month to gain access to these types of benefits, although market penetration has proved to be higher for some organisations.

However, as the financial services industry has found with other products such as PPI, annuities and endowments, with bundling comes product and remuneration complexity and with complexity comes the risk of mis-selling to customers. The FSA started raising its concerns about packaged accounts in 2009. Whilst acknowledging that they offer value to certain customers, the FSA was concerned that the volume of features and information that needed to be provided to customers could make it difficult for some customers to make an informed decision. Since then there have been examples of where this risk has materialised including cases where sales processes were found to be not robust enough when providing information to customers, where organisations have blurred their targeting of customer segments for ‘premier packaged accounts’ and where some customers have been aggrieved at having been sold features that actually they don’t use or in some cases couldn’t use as they were not eligible.

In response the FSA proposed a triple-headed approach through new rules which take effect from the 1^st of April 2013:

Eligibility check - firms are required to check whether the customer is eligible to claim under each insurance policy and must share that information with the customer
Suitability check - if the sales adviser is recommending insurance policies in the package they must establish whether each policy is suitable for the customer and alert them if some are not
Annual eligibility statement – firms must provide customers with an annual eligibility statement setting out the requirements to claim each of the benefits under each insurance policy in the package, to remind them in case their circumstances change

So what does this mean for organisations, in terms of the present day challenge? We believe there are a number of broader angles to be considered which predominantly centre on the Customer and the FSA/FCA’s hot topic of Conduct Risk:

Product Development
Most firms are well experienced at targeting and testing their products against individual customer needs, however packaged products target multiple customer needs and could result in a wide variation of customer journeys. Mapping these journeys, including customer research, can help establish the scenarios and conduct risks that could be presented by the features of a new or changing product.

In addition to customer journeys firms will need to demonstrate the business case for the new product or change, e.g. how will it be sold, what customer segmentation has been considered, what is the expected uptake, what is the expected usage of the features, what is the expected profitability, what is the expected gross conduct risk (unmitigated) position v’s the net conduct risk (mitigated) position, and what are any assumptions used based upon?

It will also be important to demonstrate that lessons learned from packaged product development are applied across other bundled and unbundled products that a firm may have in its product portfolio.

Sales Process

When considering sales process the starting point is for firms to be able to demonstrate that their sales process for each channel is fit for purpose - does it include the right level of governance and control points including appropriate eligibility and suitability checks?

Next firms must be able to demonstrate that the sales process is followed as intended not just by its sales staff but also customers. For customers, does it meet their information needs to make an informed choice? For sales agents what evidence does the firm retain to demonstrate eligibility and suitability? Mystery shopping and customer research are both powerful tools in supporting this initiative.

Finally, how can the firm demonstrate that the behaviours of sales staff are appropriately influenced? This gets at the levers that a firm uses to drive the conduct and the culture of the organisation, for example senior management leading by example, having clear and simple remuneration structures in place, and maintaining effective training and competence for customer facing staff.

In-flight Product Performance

Once a product has been sold a firm is now required to provide an annual eligibility statement intended to remind customers to consider if they remain eligible for the product and if the product continues to be suitable for their needs. Firms will need to pay careful attention to the content and design of this communication including the customer responses likely to result.

In addition an organisation should be able to demonstrate that it collects and actively uses customer centric data relating to its products including:

Segmentation – which customer segments were targeted v’s those that actually purchase the product?
Feature usage – which features have particularly high or low usage?
Feedback from claims experience – how did the firm succeed or fail to deliver at a key customer event?
Feedback from complaints and FOS experience – what are the root causes and how are they addressed?
Case studies of actions taken to resolve gaps and weakness, whether or not they are risks or actual issues
Quality monitoring or past business reviews – including consideration of factors such as multi-function responsibilities (e.g. linkage between Sales and Service), sales incentives, growth targets, product development and previous complaint history

These lenses will aid organisations in understanding and quantifying their conduct risk and also to consider what risk mitigation steps they need to apply. Undertaking the exercise comprehensively also provides the opportunity to leverage future performance, both by highlighting lessons learned and taking proactive actions to minimise the net risk position.

Customer Contact Strategy

Aside from planning for and dealing with the additional customer contact resulting from the annual eligibility statement, organisations will need to consider a key dilemma – how to approach customers not using benefits over the longer term (e.g. after receipt of the annual statement) as the customer may or may not be content with their lack of usage. Further contact may well disturb customers and their income to the bank, and possibly even trigger a complaint. Potentially it opens the door to a new unknown area, and potential unintended consequence – if a customer downgrades the account and loses a benefit that they later need to call upon.

So what does the future hold for packaged accounts? It is difficult to size the severity of the challenge ahead. Some commentators have referred to packaged accounts as the ‘next PPI’, however the evidence of widespread mis-selling is yet to fully materialise and firms continue to launch new packaged account products under the watchful eye of the FSA. What is clear is that the April 2013 changes are important to organisations and how firms respond will set the tone:

The changes impact a huge number of consumers, an estimated 10 million existing packaged account customers
The changes are happening at an important but uncertain time as the FSA transitions to the FCA, who will have an unblinking focus on customers and conduct risk; the suitability of the products they purchase and how the banks evidence suitability. Packaged accounts, past, present and future, fall right within the sweet spot of conduct risk and the FSA/FCA has already promised to come down heavily upon organisations that fail to adequately demonstrate their mitigation of conduct risk
For firms getting this right could result in a powerful customer proposition in a competitive environment – meeting real customer needs at a competitive price, and a powerful commercial proposition – aiding the cultural shift of customers paying directly for the products and services they consume. Interestingly since the package of FSA changes were announced a number of firms have responded by increasing their prices

Our view is that the winners will be those organisations that take decisive action to balance the regulatory driver of complying with the letter and spirit of conduct risk (complete transparency and establishing and evidencing suitability) with the commercial demands (non-net interest income to de-risk revenue and increased product diversification / competition) that are integral to packaged accounts. There has to be a middle ground which centres on offering customers simple choices and having an evidence base but ultimately striking the right balance will be different for every organisation based on its existing customer mix, it current product suite and its target client segment(s) going forward.

2013 Online Financial Services Symposium

Tue, 19 Mar 2013 00:00:00 -0500

Alma Angotti will participate at the Thomson Reuters’ 2013 Online Financial Services Symposium. Angotti will speak during a panel discussion titled “Who is Your Customer,” which will discuss implementing best practices on Know Your Customer (KYC) and Anti-Money Laundering (AML), fraud detection, surveillance and enforcement in online trading space.

Confirmed Panelists:

Alma Angotti, Director, Global Investigations and Compliance, Navigant
Emily Gordy, Senior Vice President, Enforcement, FINRA
John Soloman, Director, Threat Finance Research, Thomson Reuters

Webcast: FATCA Final Regulations — The Clock is Ticking

Thu, 14 Mar 2013 00:00:00 -0500

In this complimentary webcast, Navigant’s FATCA experts Richard Kando and Jeffrey Locke will discuss concrete steps, challenges and best practices that all financial institutions need to know to successfully operationalize FATCA’s due diligence requirements. Please join our panelists as they address these issues as well as your questions.

Compliance Effectiveness Review: What's a Board to Do

Fri, 01 Mar 2013 00:00:00 -0600

Recent legislation such as the Patient Protection and Affordable Care Act (PPACA) and the Fraud Enforcement and Recovery Act (FERA) have increased the Federal government's focus on fraud and misconduct enforcement, and directly implicate the compliance oversight responsibility of company Boards of Directors and leadership.

This article, co-authored by Navigant’s Saul Helman and Richard Eschle, Senior Director of Compliance at Eisai Inc., explores guidelines and responsibilities, the Board's role and the structural and operational concerns to consider in the context of creating a stable internal compliance environment.

10th Puerto Rican Symposium of Anti-Money Laundering

Thu, 28 Feb 2013 00:00:00 -0600

Navigant’s Ellen Zimiles will speak on an expert panel about emerging trends in FCPA, OFAC, PEPs and AML Issues

Moderator / Speaker: Mr. Charles Grice

Banking Fraud Expertise, Litigation Support
CRI Compliance
Mr. Andy Fernández
Shareholder
Gunster, Yoakley & Stewart, PA
Ms. Ellen Zimiles
Managing Director
Head of Global Investigations & Compliance
Navigant, Inc.

2013 American Health Lawyers Association's Long Term Care and the Law Program

Mon, 25 Feb 2013 00:00:00 -0600

Navigant Director John Stearns will be speaking at the AHLA Long Term Care and Law Program on “Nursing Home Compliance Program Update - Mandatory Compliance Programs are Here and Where Should You be Focusing Your Internal Review Efforts.”

FATCA FILTER

Fri, 22 Feb 2013 00:00:00 -0600

Navigant’s Global Investigations & Compliance team developed FATCA FILTER^SM, a compliance solution and proprietary FATCA rules engine that was specifically designed to help FFIs get a “head-start” on complying with FATCA’s pre-existing account review according to the U.S. Treasury regulations or the IGAs in a cost-effective manner.

FIBA Conference Session - Mitigating International Money Laundering Risks

Wed, 13 Feb 2013 00:00:00 -0600

Global Banks with affiliates in multiple jurisdictions, including presences in high-risk/secretive jurisdictions, are particularly susceptible to money laundering and terrorist financing. The recent report on the HSBC case of the U.S. Senate Permanent Subcommittee on Investigations highlights the need of “multiple jurisdiction institutions” to establish and maintain effective AML/OFAC controls and systems across the global bank to mitigate cross-border money laundering/terrorist financing risks. The panel will expand on and discuss how to build and maintain effective AML and Sanctions controls across multiple countries.

Moderator

Clemente Vazquez-Bello, Esq., Shareholder, Gunster & Chairman of the FIBA AML Conference

Speakers

Carmina Hughes, Global AML Officer, TD Bank
Daniel P. Stipano, Acting Chief Counsel, Office of Controller of the Currency
Ellen Zimiles, Managing Director Head of Global Investigations & Compliance, Navigant Consulting LLC
Pamela Johnson, Global Head of Enterprise Financial Crimes, JPMorgan Chase & Co.
Thomas H. Roche, Deputy General Counsel and Sr. Vice President, Federal Reserve Bank of New York

FATCA Highlights Volume 8 - FATCA Final Regulations Released: Translating Aspects of the 544 Pages into Business As Usual Processes

Tue, 12 Feb 2013 00:00:00 -0600

On January 17, 2013, the United States Treasury and the Internal Revenue Service (IRS) released the final regulations for the Foreign Account Tax Compliance Act (FATCA). The preamble and final rules are 544 pages long. Generally, the FATCA Final Regulations provide some additional relief to financial institutions and account for and accept many of the suggestions made by the financial services industry as a whole.

In our latest white paper, we provide a summary of the highlights of the FATCA Final Regulations as they relate to registration, due diligence, new FATCA reporting and certifications that have to be made by the responsible officer of the foreign financial institution (FFI).

Preventing Regulatory Exposure in PE Firms

Tue, 12 Feb 2013 00:00:00 -0600

Navigant Director Ken Yormark’s article Preventing Regulatory Exposure in PE Firms discusses how recent regulatory inquiries, coupled with the ongoing trend of investors shifting more of their assets to private equity funds, suggest that we will see increased scrutiny of the PE industry in the coming years. PE firms will begin to feel pressure to develop or refine compliance plans for their own firms as well as any acquired companies, and will need to provide assurance that the requirements of anti-bribery, privacy and other applicable laws are being heeded.

2013 SciQuest NextLevel Conference

Sun, 10 Feb 2013 00:00:00 -0600

Navigant’s Caroline Kolman will speak on “The GPO 5-Point Checkup" in the UPSTREAM track at the 2013 SciQuest NextLevel Conference. NextLevel 2013 delivers an agenda full of best practices, good ideas and hands on learning from the worlds of Source-to-Seattle, Contract Lifecycle Management (CLM), Accounts Payable (AP), Spend Analytics, Supplier Information Management and more. Session highlights will include automating contract lifecycle management, contract negotiation, maximizing procurement automation, sustainability, Enterprise Reagent Manager (ERM) and the procurement transformation framework.

Saul Helman quoted in Pharmaceutical Executive

Thu, 07 Feb 2013 00:00:00 -0600

Saul B. Helman, Managing Director and Segment Leader of Navigant’s Life Sciences Disputes, Compliance and Investigations practice was quoted in the Pharmaceutical Executive article, “The Sunshine Act: Cloudier Still?” Dr. Helman provides his insights on the issue of state pre-emption and the questions that still remain around the compliance and disclosure requirements of the Sunshine Act.

Click here to read the full article.

Risk Assessments for Financial Institutions

Fri, 01 Feb 2013 00:00:00 -0600

Join this webinar from the Florida International Bankers Association (FIBA) to learn how to effectively perform risk assessments to detect areas of program weakness and residual risk in your institution.

10th Annual CBI Pharmaceutical Compliance Conference

Tue, 29 Jan 2013 00:00:00 -0600

Navigant’s Saul Helman and Chris Castro speak on “Planning and Delivering Effective Compliance Training.” The panel will address:

Developing an annual training plan
Understanding key tenets of adult learning principles and instructional design
Ensuring compliance training is aligned with business objectives and goals
Working with senior leaders to underscore key training messages

FATCA Highlights Volume 7 - HMRC Begins to Fill In Important Due Diligence Details

Tue, 15 Jan 2013 00:00:00 -0600

On 18 December 2012, the HM Revenue & Customs (“HMRC”) released Implementation of International Tax Compliance (United States of America) Regulations 2013, Guidance Notes (“HMRC FATCA Guidance”), which provides much needed detail to the Intergovernmental Agreement (“IGA”) to implement FATCA signed by the United Kingdom and United States on 12 September 2012 (“U.K. Signed IGA”).

To read the full white paper, please click here.

Navigant Healthcare presents at the 2013 American College of Cardiology Summit

Thu, 10 Jan 2013 00:00:00 -0600

Navigant Healthcare presents at the 2013 American College of Cardiology Summit. Attendees will learn from experts on the “Solutions for Thriving in a Time of Change.”

Following the keynote address: “Healthcare Reform – Post-election Aftermath and Expectations,” Michael Nugent will serve as a panelist on the Comments and Q&A.

Jim Palazzo will co-present on “Managing for Practice Profitability – Four Crucial Steps to Grow Market Share.”

Jim Goldmann will co-present on “ Finance 101 – Understanding the Financial Components of the CVSL and Integrated Statements – What are We Worth to Them?”

Michael Nugent will co-present on “Evolving Payment Models: What Are the Payers' Plans for CV Care and Accountable Care Organizations (ACO)?”

FATCA Highlights Volume 6 - A Cross Between the Proposed Regulations and Model 1 IGA

Fri, 14 Dec 2012 00:00:00 -0600

On November 14, 2012, the United States government published the Model 2 intergovernmental agreement (“Model 2 IGA”) to implement the Foreign Account Tax Compliance Act (“FATCA”). The Model 2 IGA is based, in large part, on the Model 1 intergovernmental agreement (“Model 1 IGA”) released on July 26, 2012, but there are important differences.

To read the full white paper, please click here.

IBF Seminar on Responding to The Foreign Account Tax Compliance Act

Wed, 05 Dec 2012 00:00:00 -0600

The Irish Banking Federation is hosting an interactive roundtable discussion on The Foreign Account Tax Compliance Act (FATCA) at 9.00am on the 5th of December in The Alexander Hotel, Dublin 2. Registration at 08.30am.

The seminar agenda will focus on key aspects of the FATCA proposed regulations. Jim Byrne, Principal Officer, Irish Revenue will give an outline of the latest developments in relation to discussions between the IRS and Irish Revenue. This will be followed by experts from Navigant Consulting sharing insights and knowledge gained from leading banks in Canada, England, the United States and elsewhere on the topic.

The discussion will explore implementation considerations such as:
Overview of IGAs

Annex I - On-boarding v. The Pre-Existing Account Review: Exploring the Similarities and Differences
Annex II – Potential Non-Reporting Financial Institutions & Products
Potential Definitional Issues Among IGA Countries

Are You Ready for Basel III?

Tue, 04 Dec 2012 00:00:00 -0600

Basel III promises some of the most profound changes in bank capital regulation in more than 20 years, including

Phasing out the use of debt and capital hybrids in Tier 1 and risk-based capital measurements
Changes in risk weights on loan portfolios that will affect strategic business focus and loan concentrations
Shareholder returns could see a significant decrease for many institutions

Join us for a discussion on the strategic considerations of Basel III and how best to position yourself for the imminent changes.

MMR: Right Policy, Wrong Time

Fri, 30 Nov 2012 00:00:00 -0600

Originally published in Mortgage Solutions, Keith Green, Senior Consultant in Navigant’s Retail Banking team, provides a unique analysis into the impact of the Financial Service Authority’s long awaited Mortgage Market Review. In this article, Green argues that far from improving access for to the UK housing market for first time buyers, poor timing and implementation of the policy rules outlined in the MMR has the potential to further drive up costs and stifle innovation.

Healthcare Compliance Association Desert Southwest Regional Conference

Fri, 16 Nov 2012 00:00:00 -0600

Navigant Associate Director Shawn DeGroot, HCCA President, will be speaking at the HCCA Southwest Regional Conference on the topic of Regulatory Environment Communication.

Fair Market Value is Critical in Implementing the Physician Payments Sunshine Act

Wed, 14 Nov 2012 00:00:00 -0600

With the Physician Payments Sunshine Act ("PPSA") January 2013 implementation date approaching, life sciences companies need to prepare for the increased scrutiny they will be facing from the government on their payments being made to Healthcare Professionals ("HCPs") and Healthcare Institutions ("HCIs"). Companies need to have an integrated system in place which will manage all aspects of payments to their HCPs and HCIs, including supporting that the payments are consistent with fair market value ("FMV").

This article outlines strategies for a consistent and supportable approach to determine the FMV for services being provided by HCPs and HCIs.

Navigant to Present and Sponsor at the 2nd Annual North American Gas Summit: Where Supply Meets Demand

Tue, 13 Nov 2012 00:00:00 -0600

The 2nd Annual North America Gas Summit focuses on critical aspects of the natural gas industry. The theme of the summit is centered around supply and demand. Industry leaders will be gathered together to discuss some of the most significant factors in the industry, including how LNG exports will affect domestic prices and natural gas demand, game-changing infrastructure developments, demand-supply JVs, recommendations following the NPC studies, challenges and opportunities in demand creation, and many other topics.

Navigant's experts will host a breakfast briefing for attendees, covering the topics of:

Long Term Implications for Natural Gas Supply and Demand
The Economics of Unconventional Oil and Gas
Capital risks and opportunities associated with Shale Gas and Oil development
Management of Construction Risks Surrounding Natural Gas Construction Projects
What the SEC and DOJ will be saying about the oil and natural gas industries one year from now

Rick Smead will present on “Natural gas-fired power generation – paving the way for cleaner power through natural gas replacing coal”. Discussing the following topics:

What are the prospects for fuel switching from coal to gas due to new environmental regulations?
Encouraging companies to the natural gas switch – the need for increasing reliance on gas fi red generation to balance the integration of fast-growing renewable resources into the grid
The challenges and cost implications of refitting power plants to run on natural gas

McGuire Woods 4th Annual Medical Device and Life Sciences Conference

Thu, 08 Nov 2012 00:00:00 -0600

Navigant Managing Director Kevin Cornish will be speaking at this conference on the DOJ and FDA investigations in Implantable Cardiac Defibrillators (ICD) and related developments.

Thirteenth Annual Pharmaceutical Regulatory and Compliance Congress and Best Practices Forum

Mon, 05 Nov 2012 00:00:00 -0600

Navigant professionals will be speaking at the PCF Pharmaceutical and Compliance Conference in Washington, DC. Saul Helman will be speaking on "Compliance Effectiveness Reviews and Benefits" to the Board of Directors and Jack Tanselle will be part of a panel discussion on "U.S. Disclosure Implementation" updates.

Implementing Clinical and Financial Collaboration Between Payers and Providers

Wed, 31 Oct 2012 00:00:00 -0500

In this article for Healthcare Financial Management, Navigant’s Michael Nugent highlights the successes and challenges two healthcare provider organizations face while collaborating with payers and providers. At a glance, an IPA learned three important lessons while implementing a clinical and financial collaboration with its payers: eliminate mixed messages, focus on delivery and operational changes, not just payment change, and set realistic expectations and deliver on them. Michael encourages health system financial leaders to consider following a few recommendations as they rise to the challenge of clinical and financial collaboration between providers and payers.

The USD School of Law – Procopio International Tax Institute's 2012 International Update: U.S.-Mexico-Canada Cross-Border Tax Issues

Thu, 25 Oct 2012 00:00:00 -0500

FATCA Panel Discussion moderated by: Patrick W. Martin, Esq. – Procopio, Cory, Hargreaves & Savitch LLP

Panelists:

Richard Kando, CPA – Navigant
Lic. José Luís Bracho Ortiz, General Counsel – Bank Association of Mexico
Lic. Gabriela Burgues – CB Abogados (Costa Rica)
J. Richard Harvey, Prior Senior Advisor to IRS Commissioner Doug Shulman, Villanova School of Law

2012 IMPACT Exchange: Chicago

Tue, 23 Oct 2012 00:00:00 -0500

Navigant’s featured guests for the 2012 IMPACT Exchange are Robert Gibbs, Sr. Advisor to President Obama's Reelection Campaign and former White House Press Secretary; and Karen Hughes, former Counselor to President George W. Bush. They will engage in a spirited exchange with each other and our audience as they offer their views and debate the critical issues of the 2012 election and global topics impacting business.

Gibbs and Hughes will engage in Navigant's IMPACT Exchange in Chicago, IL on Tuesday, October 23, 2012. Please contact Amanda Mareci for questions about the 2012 IMPACT Exchange.

Navigant Healthcare Presents at the 2012 16th Annual Healthcare Compliance Forum co-hosted by Jones Day and Navigant

Wed, 17 Oct 2012 00:00:00 -0500

Navigant Healthcare Presents at the 2012 16th Annual Healthcare Compliance Forum co-hosted by Jones Day and Navigant.

Ron Vance and Jerry Chang will co-present on “Evolving Physician Compensation and Asset Valuation Compliance Issues.”

Keith Chop will co-present with Jones Day on “340B Registration and Compliance/Audit.”

Jerry Chang will be one of six expert panelists on “Tackling the Tough Issues in Transactions and Physician Arrangements.”

Rich Bajner will be one of three expert panelists on “ACOs: New ‘Paradigm’ for Compliance.”

Anthony Long, Director for Navigant Healthcare, to speak at the ACCA Northeast Regional Conference

Fri, 12 Oct 2012 00:00:00 -0500

Anthony Long, Director for Navigant Healthcare, will speak at the ACCA Northeast Regional Conference on “Dotting “I’s”, Crossing “T’s”, and Aligning Physicians – The Employment Experience.”

2012 IMPACT Exchange: New York

Wed, 10 Oct 2012 00:00:00 -0500

Gibbs and Hughes will engage in Navigant's IMPACT Exchange in New York on Wednesday, October 10, 2012. Please contact Amanda Mareci for questions about the 2012 IMPACT Exchange.

2012 IMPACT Exchange: Washington, D.C.

Tue, 09 Oct 2012 00:00:00 -0500

Gibbs and Hughes will engage in Navigant's IMPACT Exchange in Washington, DC on Tuesday, October 9, 2012. Please contact Amanda Mareci for questions about the 2012 IMPACT Exchange.

Fraud & Compliance Forum

Sun, 30 Sep 2012 00:00:00 -0500

Navigant Managing Director Kevin Cornish will be speaking at the Fraud & Compliance Forum and providing an update on the Department of Justice’s (DOJ) national ICD investigation. Kevin will present with Frank Sheeder from DLA Piper and will review the current status of the government investigation along with practical approaches for hospitals’ defenses.

Medical Loss Ratio in Group Markets: Will Many Plan Participants Receive Rebates?

Tue, 25 Sep 2012 00:00:00 -0500

Recent data indicates that $700 million in medical loss ratio (MLR) rebates will be going to only a small percentage of participants. The burden of rebate distribution lies with employers and, as a result, employers have numerous determinations to make and important considerations during the rebate distribution process. Navigant’s Sonya Kwon and Melissa Hulke co-authored this article with Wayne Jacobsen, partner at O’Melveny & Myers.