activities In this article, we review advice from industry thought leaders on (1) how to ensure compliance officers are a part of the process and not just brought in at the eleventh hour; (2) what to do if the compliance officer is brought in at the last minute; (3) what data a compliance officer should be collecting pre-close; and (4) what data will likely not be made available pre-close, but should remain top priorities.
For compliance officers (“CO”), access to information is essential, but in a fast-moving acquisition deal gaining access to needed data is not always easy. Compliance concerns are not always prioritized before a deal is made though CO’s are often called on after the deal to ensure a smooth transition. But it’s even more important for compliance to have a seat at the pre-deal table. As William Intner, a partner at Hogan Lovells, told listeners at the Pharmaceutical Compliance Congress and Best Practices Forum in October, “There’s only so much protection you get from the warranties of a contract. Dollars behind a representation won’t fix the lost sales or the CIA or whatever the parade of carnivals that can come with the later-discovered compliance problems.”