Day: October 24, 2019

Barbara Petitti, When Change is a Consistency in a Compliance Program

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Post date October 24, 2019
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Welcome to the Great Women in Compliance Podcast, co-hosted by Lisa Fine and Mary Shirley. For some compliance professionals, sometimes the only constant is change. Today, Lisa speaks with Barbara Petitti, Ethics & Compliance Officer, Policy Enforcement and Investigations at Alstom. Barbara started in compliance through a role in Human Resources with a defense contractor and joined Alstom, a French transportation company, seven years ago.
When Barbara started at Alstom, they were in the midst of addressing serious corruption issues which included investigations with the World Bank, the U.S. Department of Justice and the UK Serious Fraud Office. During this time several executives were indicted by the DOJ and ultimately Alstom paid a $772m criminal penalty to the US Department of Justice.
That was the start of her story. Since Barbara started at Alstom. Her role evolved, and she addressed changes. Here are a few:

Having seven bosses in six years;
Acting as North American Compliance Officer for three entities;
Traveling globally 30-40% of the time to lead global initiatives; and
Supporting Alstom when there were 100,000 employees as well as with 35,000 employees.

Join the Great Women in Compliance community on LinkedIn here.

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12 O’Clock High-a podcast on business leadership

The Panic of 1907 and Leadership of JP Morgan

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Post date October 24, 2019
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I recently listened to the Great Courses series of lectures entitled, Crashes and Crisis: Lessons form a History of Financial Disasters, hosted by Professor Connel Fullenkamp. Although the lecture series focused on economic disasters, I found many leadership lessons embedded in the lecture. In prior podcasts, host Richard Lummis and myself have considered the Dutch Tulip Bubble from the 1630s, the South Sea Bubble of 1720 and the Mississippi Bubble of 1720. Today we conclude with the Panic of 1907 and see how one person’s integrity and leadership can actually work to stop a panic and save a national economy.
While there were obviously many moving parts to stopping the Panic of 1907, with the personal integrity of JP Morgan and his knowledge of the domestic and international financial markets, it is very doubtful the Panic could have been stopped. If the Panic had been allowed to spread unchecked it likely could have brought down the entire US economy. This example shows that the right person, at the right place, at the right time can make all the difference.

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Everything Compliance

The Not Headed to Doral edition

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Post date October 24, 2019
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Welcome to the only roundtable podcast in compliance. Today, we have a quintet of Jay Rosen, Matt Kelly, Sarah Hadden, Jonathan Armstrong and Mike Volkov with a potpourri of topics and commentary on current events from the compliance perspective. Rants and shouts outs follow the commentary for this episode, with one public service announcement from across the pond.

Mike Volkov takes a deep dive into the debate on whether a Chief Compliance Officer should report to the GC or not. Volkov shouts out to Harvard Law Professor Matthew Stephenson for his great blog site Global Anti-Corruption Blog and specifically his recent blog post, If You Don’t Think Conflicts of Interest Matter, Consider the Kurds.
Jay Rosen discusses the role ethics and compliance in the Mergers and Acquisition process. Rosen shouts out General James Mattis’ and his remarks at the Alfred Smith Dinner where accepted Trump’s claim he was the ‘most-overrated general’ by noting Trump had said 3-time Oscar winner Meryl Streep was the ‘most-overrated actress.’
Sarah Hadden takes things a different direction by reading the eBook Trump and Compliance which was published in late 2016 and was based on the Everything Compliance gang’s predictions of how compliance would fare under the Trump Administration. Hadden shouts out to a new section of CCI which will focus on those persons early in their compliance careers. It is certainly a welcome addition to the compliance discussion.
Matt Kelly provides breaking news by discussing the SEC proposed changes to its Whistleblower Program. Kelly shouts out to Boston Celtic Enes Kantor for calling out the NBA on its hypocrisy on China.
Jonathan Armstrong discusses the growing tide of US-style class actions coming to the UK and EU around the issue of data breaches under GDPR. Armstrong provides a public service announcement around the perils of using Apple Pay and the failure to Document Document Document.
Tom Fox rants about the surreal news conference given by Acting Chief of Staff Mick Mulvaney where he (1) admitted the President violated US law in requiring a quid pro quo from Ukraine for the Congressionally mandated US aid package, claiming it was ‘just politics’ and (2) admitted the President violated the Emoluments Clause of the US Constitution by announcing the President had ordered the 2020 G-7 Summit to be held at Trump properties.

Resources:
From Jonathan Armstrong, on the always great Cordery Compliance site:
UK Data Protection Regulator Announces Intention to Fine BA after Data Breach
Life with GDPR – Episode 22 – Morrisons And Vicarious Liability
Client Alert: Doors open for data protection class action as appeal court allows Google claim to proceed?
From Matt Kelly, the coolest guy in Compliance, on Radical Compliance:
SEC Tees up Whistleblower Reforms
From Mike Volkov’s remarks, two articles from Compliance Week (sub req’d)
Point: Why CCOs should report to GC by Jeff Kaplan
Counterpoint: CCO, GC independence is critical by Matt Stankiewicz
From Sarah Hadden, the eBook published by CCI:
Trump and Compliance-the Conversation is Just Getting Started
The members of the Everything Compliance are:

Jay Rosen– Jay is Vice President, Business Development Corporate Monitoring at Affiliated Monitors. Rosen can be reached at JRosen@affiliatedmonitors.com
Mike Volkov – One of the top FCPA commentators and practitioners around and the Chief Executive Officer of The Volkov Law Group, LLC. Volkov can be reached at mvolkov@volkovlawgroup.com.
Matt Kelly – Founder and CEO of Radical Compliance. Kelly can be reached at mkelly@radicalcompliance.com
Jonathan Armstrong –is our UK colleague, who is an experienced data privacy/data protection lawyer with Cordery in London. Armstrong can be reached at armstrong@corderycompliance.com
Sarah Hadden –Publisher at Corporate Compliance Insights. Hadden can be reached at Sarah@corporatecomplianceinsights.com

The host and producer (and sometime panelist) of Everything Compliance is Tom Fox the Compliance Evangelist. Everything Compliance is a part of the Compliance Podcast Network.