Day: October 11, 2019

Categories
Compliance Into the Weeds

Episode 143-Mylan and Silos

Compliance into the Weeds is the only weekly podcast which takes a deep dive into a compliance related topic, literally going into the weeds to more fully explore a subject. In this episode, Matt Kelly and I go into the weeds to explore the recent SEC enforcement action against Mylan and its mischaracterization of the drug EpiPen as a generic drug. This mischaracterization cost the federal government millions of dollars and led the SEC to fine Mylan $30MM.
Some of the highlights include:

  • How can one event have multiple risk scenarios?
  • How risks can ripple across an organization?
  • Who oversees risk for a company in a holistic manner?
  • How can internal controls help to break down silos?
  • Where was compliance?
  • Why do internal controls need to cut across silos to provide (at least) internal transparency?

For additional reading see the following:
Matt’s blog post, Mylan’s Lessons on Silos & Risks, on Radical Compliance.

Categories
Daily Compliance News

October 11, 2019- the SFO delays edition

In today’s edition of Daily Compliance News:
  • What is the cause of SFO delays? (WSJ)
  • EU looks to tweak how it compiles dirty money blacklist. (WSJ)
  • Do they or don’t they? Deutsche Bank now says it doesn’t have Trump tax returns. (Washington Post)
  • OECD to propose international corporate tax reform. (FT)
Categories
This Week in FCPA

Episode 175 – the NBA Steps In It edition

As Tom watches the Astros inexorable march towards the World Series, he and Jay reflect on the difficulty of the NBA in navigating their Chinese waters, they then discuss some of this week’s top compliance and ethics stories which caught their collective eyes.

  1. DOJ announced new guidelines for determination of inability of a company to pay a fine or penalty.
  2. NBA steps in it in China. Chris Mannix on Daryl Morey’s original tweet that set off the firestorm.
  3. Named in a FCPA investigation? No defamation case for you. Hailey Connath reports.
  4. A new way to calculate SEC whistleblower awards. Amanda Rose discusses.
  5. What is the intersection of compliance and tech? (Answer-it’s all about culture). Mike Volkov opines.
  6. What is the CCO’s role in culture? Jay continues his 5-part series.
  7. Caremark duties extend to monitoring, not simply oversight. Kevin LaCroix explains.
  8. What is the interest group theory of anticorruption enforcement? Sean Griffin and Thomas Lee in a new article.
  9. What is the reverse agency problem for corp officers and directors? Asaf Eckstein and Gideon Parchomovsky opine.
  10. Listen in next week, where Jay joins Tom in a five-part podcast series exploring ethical culture in a corporation, sponsored by AMI. The lineup will be the following: Monday-What is Ethical Culture; Tuesday-Factors Influencing Ethical Culture; Wednesday-The Role of the CCO; Thursday Assessing Ethical Culture Friday- the Role of Ethical Culture in an Overall E&C Program. The podcast will be available on multiple sites: the FCPA Compliance Report, iTunes, JDSupra, Megaphone, YouTube,  Spotify and the Compliance Podcast Network.

Tom Fox is the Compliance Evangelist and can be reached at tfox@tfoxlaw.com. Jay Rosen is Mr. Monitor and can be reached at jrosen@affiliatedmonitors.com. For more information on how an independent monitor can help improve your company’s ethics and compliance program, visit our sponsor Affiliated Monitors at www.affiliatedmonitors.com.