Day: May 27, 2020

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EMBARGOED!

EMBARGOED! Episode 8: For Whom The Bell Tolls; It (Maybe) Tolls For Huawei

On this episode of EMBARGOED!, Brian and Tim dissect the latest attempt by the U.S. government to hobble Huawei by taking aiming at the telecom giant’s semiconductor supply chain and ponder whether the move will have unintended consequences. Next, we analyze the increasingly realistic prospect of the U.S. unleashing economic sanctions on China. We also check in on Venezuela and the political wrangling over Nynas’s removal from the SDN List before recapping the key points of the U.S. government’s latest sanctions advisory for the maritime industry. Plus, the Lightning Round features enforcement-focused nuggets relating to Iran, Syria, and Cuba.

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Questions? Contact us at podcasts@milchev.com.
EMBARGOED! is not intended and cannot be relied on as legal advice; the content only reflects the thoughts and opinions of its hosts.
EMBARGOED! is intelligent talk about sanctions, export controls, and all things international trade for trade nerds and normal human beings alike, hosted by Miller & Chevalier Members Brian Fleming and Tim O’Toole. Each episode will feature deep thoughts and hot takes about the latest headline-grabbing developments in this area of the law, as well as some below-the-radar items to keep an eye on. Subscribe for new bi-weekly episodes so you don’t miss out!
Timestamps:
0:11 Introduction
The Rundown:
3:35 Huawei
24:36 China Sanctions
38:57 Nynas AB + Venezuela Update
48:03 OFAC’s Maritime Advisory
58:18 Lightning Round:
58:30 Iran + Seyed Shahidian Extradition, PAYMENT24 Case
1:03:53 Syria + EKT Katrangi
1:07:17 BIOMIN America + Another Cuba Blunder
1:12:33 Final Thoughts
***Stay sanctions free.***

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Compliance Kitchen

European Commission: Report on Predicted COVID-19 Impact on EU Trade


What’s cooking in the Compliance Kitchen? Silvia Surman is back.
The European Commission published a report dated April 17, 2020 that details the impact that the corona virus is expected to have on EU trade. According to the Commission’s new release, the COVID-19 crisis will is anticipated to result in a decline of both EU exports (decline of 9.2%) and EU imports (8.8% decline) this year alone. The numbers are based on the estimated decline in GDP worldwide. The temporary shutdown of businesses and travel restrictions globally will combine to leave a decline in economic output, global trade, investment and general household spending. The Commission notes that “while there is a wealth of forecasts on GDP growth in 2020, there is a limited range of work done on trade projections for 2020, in particular for EU trade.”
You may have heard of the 1MDB scandal and the subsequent investigations and government protests that resulted in the country. Jho Lo appears to still be on the run, although he didreach a settlement with the US DOJ and Malaysia is seeing some return of the misappropriated funds. Recently, Malaysian Securities Commission issued an annual report, finding that only 59% of Malaysian listed companies have anti-corruption policies in place and even those, for the most part, needed to be beefed up.   For more on this, and the Commission’s plans forward, see a news article here. If you are considering doing business with Malaysia, some official sources of information might be of assistance.

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Compliance and Coronavirus

Melissa Koch on Platformizing Compliance During Covid-19 and Beyond


Welcome to the newest addition to the Compliance Podcast Network, Compliance and Coronavirus. As the Voice of Compliance, I wanted to start a podcast which will help to bring both clarity and sanity to the compliance practitioner and compliance profession during this worldwide health and healthcare crisis. In this episode, I am joined by Melissa Koch, co-founder and CEO of InFront Compliance.  We visit about the use of platforms to facilitate cybersecurity compliance during new normal of Covid-19 and going forward.
InFront is a next-gen online assessment and reporting platform focused on reducing risk and simplifying compliance for highly regulated entities, such as our nation’s supply chain and financial institutions. Founded by seasoned technology lawyers with a deep understanding of the fast-evolving regulatory landscape, InFront offers a secure digital solution built on extensive expertise and an intuitive interface that is accessible across all stakeholders. You can check out their website, here.

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Great Women in Compliance

Jenny Kim on the Intersection of Public Policy and Compliance

Welcome to the Great Women in Compliance Podcast, co-hosted by Lisa Fine and Mary Shirley.

In this episode of Great Women in Compliance, Lisa speaks with Jenny Kim, the Deputy General Counsel & Vice President, Public Policy at Koch Companies, Public Sector.  In her role, Jenny supervises the political law and compliance team, and we get the opportunity to speak about lobbying and political ethics and campaign finance.
Jenny talks about her move from government roles to a law firm, to her role at Koch. We focus on the challenges of addressing concerns right away with rapid decision-making with ensuring compliance.
We also discuss the compliance issues raised by the upcoming election, and how she collaborates with other functions such as government affairs on issues such as “pay to play” and political reporting requirements and keeping up with state-by-state requirements.
She also provides some of her thoughts on the importance of data and some of what she is doing to train employees throughout Koch.

Join the Great Women in Compliance community on LinkedIn here.

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Compliance Into the Weeds

Demonstrating Corporate Values in the Time of Economic Downturn


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 podcast Matt Kelly and Tom Fox take a deep dive into how business leaders can demonstrate values during times of difficulty, specifically when the CEO of Airbnb was required to layoff nearly 25% of the company’s workforce.
Some of the highlights include:

  • How can tone at the top be so critical during the coronavirus health crisis and economic dislocation?
  • Airbnb’s CEO Brian Chesky’s communication to employees.
  • How does clarity and certainty in Brian Chesky’s letter help make the layoffs more palatable?
  • Why are personal meetings so critical?
  • Why is dignity to a RIF’d employee so critical?
  • What can the compliance professional learn from this experience?
  • How (and why) was the Weight Watchers massive layoff so different?

See Matt Kelly blog post Demonstrating Values During Difficulties on Radical Compliance.

Categories
Daily Compliance News

May 27, 2020-the Lipstick on a Pig edition


In today’s edition of Daily Compliance News:

  • Jho Low banker who facilitated alleged money laundering on trial. (RiskScreen.com)
  • What coronavirus tells Boards about the next crisis. (FT)
  • Max Schrems has choice words for Ireland settlement with FB. (com)
  • UK corruption case against Shell & ENI dismissed. (Reuters)