Day: January 30, 2020

Episode 190 – the What’s $4 Billion Between Friends edition

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Post date January 30, 2020
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Reports are that Airbus will settle corruption allegations for nearly $4bn in England. What other bombshells are out there? Jay and Tom are back to consider some of the top compliance articles and stories which caught our eye this week. Stay tuned for our fearless Super Bowl predictions.

Airbus to settle corruption charges for nearly $4bn.
Ericsson executives acted in ‘bad faith’. Dick Cassin reports.
What are 5 takeaways from the Luanda Leaks? Allison Taylor explains.
Should we worry about the Trump Administration gutting the FCPA? Matthew Stephenson opines.
How can you use external resources to bolster your compliance program? Jay continues his series.
The SEC provides some pointers on cyber-security. Matt Kelly explores.
Why is sponsorship important in compliance? Mary Shirley explains.
What role did corrupt play in the coronavirus? Gretta Fenner and Monica Guy explore.
A more comprehensive look at the SFO’s thoughts on compliance programs.
On the Compliance Podcast Network, Tom concludes his 31 Days to a More Effective Compliance Program series and announces he is extending it out for the year. This week saw the following offerings: Day 27 considers pre-acquisition due diligence in M&A ; Day 28 looks at requirements in post-acquisition integration; Day 29 looks at root case analysis; Day 30 details how to use a root cause analysis to remediate; Day 31 concludes with a look at the 3 levels of due diligence. Note 31 Days to a More Effective Compliance Program now has its own iTunes channel. If you want to binge out and listen to only these episodes, click here.

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.

ComplianceLIVE

ComplianceLIVE Fun-Size Episode 4: Are You Prepared for a Scandal at Church??

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Post date January 30, 2020
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Amanda welcomes Bria Washington to the show to discuss compliance in churches and other religious organizations. Tune in to learn how to be prepared for a scandal and take actions BEFORE it hits the news.
Listen to the episode:

Check out more episodes and full episode videos at ComplianceLine.com, and don’t forget to subscribe on your favorite podcast platform!

31 Days to More Effective Compliance Programs

Day 30 | Using a root cause analysis for remediation

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Post date January 30, 2020
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We previously considered the Prong in the Evaluation that was not present in the Ten Hallmarks of an Effective Compliance Program; that being root cause analysis. The requirement was first raised in the 2017 Evaluation. It was then carried forward as a requirement in the FCPA Corporate Enforcement Policy, later in 2017. It was discussed again in the 2019 Guidance.
You should begin with the question of who should perform the remediation; should it be an investigator or an investigative team which were a part of the root cause analysis? Jonathan Marks, believes the key is both “independence and objectivity.” It may be that an investigator or investigative team is a subject matter expert and “therefore more qualified to get that particular recourse”. Yet to perform the remediation, the key is to integrate the information developed from the root cause analysis into the solution.
Marks further noted that the company may also have deficiencies in internal controls. More importantly, the failure to remediate gaps in internal controls “provides the opportunity for additional errors or misconduct to occur, and thus could damage the company’s credibility with regulators” by allowing the same or similar conduct to reoccur. Finally, with both the 2019 Guidance and FCPA Corporate Enforcement Policy, the DOJ has added its voice to prior SEC statements that regulators “will focus on what steps the company took upon learning of the misconduct, whether the company immediately stopped the misconduct, and what new and more effective internal controls or procedures the company has adopted or plans to adopt to prevent a recurrence.
Three key takeaways:

The key is objectivity and independence.
The critical element is how did you use the information you developed in the root cause analysis?
The key is that after you have identified the causes of problems, consider the solutions that can be implemented by developing a logical approach, using data that already exists in the organization.

Tags remediation

Trekking Through Compliance

Picard-Episode 1, Remembrance

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Post date January 30, 2020
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Welcome to a special series of Trekking Through Compliance, the podcast series inspired by my review of Star Trek, the Original Series. In this special series I am joined by another uber Star Trek maven, Megan Dougherty. In this series we will review the new television show Picard which is currently streaming on CBS.
SPOILER ALERT-Although we will review each episode after it appears, we will discuss each episode in depth.
Episode 1, Remembrance begins with former Admiral Jean-Luc Picard in retirement tending to his vineyards on his family’s ancestral home in in La Barre, France. Picard has resigned his commission from Starfleet in protest of their failure to save the lives of Romulan citizens after the Romulan sun went supernova. Star Fleet made this decision, in no small part, because of an attack on the Confederated Martian Colonies and the Utopia Planitia Shipyards by synthetics. These attacks led to Star Fleet banning their existence.
In Greater Boston, Dahj is enjoying an evening with her boyfriend, when Romulan assassins transport into her apartment. They kill him, but before they can kill her, something activates in Dahj and she kills the assassins. She then has visions of Picard and seeks him out after seeing him being interviewed on the Federation News Network. Dahj finds sanctuary in La Barre but runs away after only night’s stay out of fear of bringing harm to Picard. Picard goes to the Starfleet Archives in San Francisco and discovers a painting Data made thirty years previous entitled “Daughter”, bearing a female figure resembling Dahj. Dahj tracks Picard down and reunites with him, but it proves to be a brief reunion. Romulan assassins beam to their location and kill her.
Picard then goes to the Daystrom Institute in Okinawa and meets with Dr. Agnes Jurati, who reveals Dahj may be Data’s daughter through an experimental procedure known as fractal neuronic cloning. This entails creating an android with an organic body but inserting a positronic brain. More significantly for the storyline, this process results in twins being created. The episode ends in a Romulan reclamation site where a Romulan named Narek meets with Soji Asher, Dahj’s twin. Most stunningly, the reclamation site is a partially constructed Borg Cube.
Highlights include:

Patrick Stewart is now 79. Can you have a senior action hero?
Picard retired from Star Fleet because “it was no longer Star Fleet. What happened?
Is the Prime Directive simply the “1^st Suggestion”?
What are the ethics around AI creation, or as Picard calls them ‘synthetics’?
Even in the 23^rd Century, organizational culture is critical.