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31 Days to More Effective Compliance Programs

Day 10 | The use of social media in compliance

What is the message of compliance inside of a corporation and how it is distributed? In a compliance program, the largest portion of your consumers/customers are your employees. Social media presents some excellent mechanisms to communicate the message of compliance going forward. Many of the applications that we use in our personal communications are free or available at very low cost. Why not take advantage of them and use those same communication tools in your internal compliance marketing efforts going forward?

Why should you do so? Start with the tech-savvy nature of the today’s workforce. It is not simply about having a younger workforce but a workforce whose primary tool for communication is social media. If your company is in the services business, it probably means your employee base is using technological tools to deliver business solutions. Finally, consider the data-driven nature of business today so using technological tools to deliver products and solutions is something your company most probably does now.
Finally, never forget the social part of social media. Social media is a more holistic, multiple-sided communication. Not only are you setting out expectations but also these tools allow you to receive back communications from your employees. You can also see that if you have several concerns expressed it could alert you earlier to begin some detection and move towards prevention in your compliance program.
Three key takeaways:

  1. Incorporation of social media into your compliance communications can pay big dividends.
  2. Focus on the ‘social’ part of social media.
  3. Use internal corporate social media to facilitate a 360-degree conversation.
Categories
This Week in FCPA

Episode 187, week ending January 10, 2020 – the Looking Back and Looking Forward

Jay and I take things in a different direction this week. We consider some of the year end wrap ups and pontifications of the future that recently caught our collective eyes. Jay reflects on the greatest pro football dynasty of alltime, how it got there and where it may be going.

  1. Tom goes all in on looking back and looking forward. DOJ year in review. SEC year in review. Issues for compliance professionals for 2020. Bribery schemes from 2019, and responses to these bribery schemes.
  2. Matt Kelly provides his take on 7 issues for 2020. Tom and Matt go into the weeds for Part 1 on a 2-part podcast series on the veiled land of the future in Compliance into the Weeds.
  3. Mike Volkov does a podcast on the FCPA review in review. He also has three blog post, -1-a record setting year, 2-FCPA Enforcement Highlights and 3-Carnac the Magnificent.
  4. Ten top D&O stories from 2019. Kevin LaCroix on the D&O Diary.
  5. 2020 will see the convergence of ABC and human rights compliance. Allison Taylor in the FCPA Blog.
  6. The year in export trade control (and a look forward).
  7. Dave Lefort weighs in from the EIC perspective. In Complaince Week (sub req’d)
  8. The Gibson Dunn 2019 FCPA Review is out.
  9. On the Compliance Podcast Network, Tom continues his 31 Days to a More Effective Compliance Program series.This week saw the following offerings: Day 6 details the Code of Conduct ; Day 7considers policies and procedures; Day 8 looks at internal controls; Day 9 looks at 360 degrees of compliance communications; Day 10 looks at the use of social media in compliance.
  10. Is the Patriots Dynasty over? Does Jay come to mourn TB12 or to praise him. Our thoughts on the greatest professional football dynasty of all time.

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.

Categories
Daily Compliance News

January 10, 2020, the Used Car edition


In today’s edition of Daily Compliance News:

  • Matthew Miner leaves DOJ. (WSJ)
  • Would you buy a used car from this man? Pete Carroll talks business. (NYT)
  • What happens when you don’t take known risks into account? (WSJ)
  • Trump Administrative vows new Iranian sanctions. (Washington Post)