Day: September 1, 2020

EMBARGOED! Episode 13: If TikTok & WeChat Go Away, Is It Still Safe to Use Tin Cans With String?

Post author By Miller & Chevalier
Post date September 1, 2020
No Comments on EMBARGOED! Episode 13: If TikTok & WeChat Go Away, Is It Still Safe to Use Tin Cans With String?

EMBARGOED! is back! After a brief, socially-distanced summer vacation, Brian and Tim return to tackle the messy, unprecedented U.S. government actions targeting TikTok and WeChat. Next, we return to one of our favorite topics, Huawei, to analyze the impact of the BIS final rule, which makes another attempt to disrupt the company’s supply chain by further expanding the foreign direct product rule. We also discuss the first wave of sanctions targeting Hong Kong and its top officials and ponder whether this was anything more than a symbolic gesture. Plus, in the Lightning Round we share some thoughts on recent Entity List additions targeting, for the first time, activities in the South China Sea, a Xinjiang-related addition to the SDN List causing significant due diligence headaches, and, at long last, the publication of the Advance Notice of Proposed Rulemaking regarding “foundational technologies.”

Like what you hear? Please subscribe! * Apple Podcasts * Spotify * Amazon Music * Google Podcasts * Stitcher
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:
0:10 Introduction and Roadmap
The Rundown
5:36 TikTok and WeChat
30:00 Final BIS Rule re: Huawei and Foreign Direct Product Rule
42:52 First Hong Kong Sanctions
51:40 Lightning Round
52:00 BIS Addition of 24 Chinese Companies to the Entity List re: South China Sea
56:56 Xinjiang-related Additions to the SDN List 1:02:00 Commerce (Finally) Issues ANPRM re: Foundational Technologies
1:09:00 Final Thoughts
***Stay sanctions free.***

31 Days to More Effective Compliance Programs

What are internal controls?

Post author By admin
Post date September 1, 2020
No Comments on What are internal controls?

What specifically are internal controls in a compliance program? Internal controls are not only the foundation of a company but are also the foundation of any effective anti-corruption compliance program. Internal controls expert Joe Howell, former Executive Vice President (EVP) at Workiva, Inc., has said that internal controls are systematic measures, such as reviews, checks and balances, methods and procedures, instituted by an organization that performs several different functions. These functions include allowing a company to conduct its business in an orderly and efficient manner; to safeguard its assets and resources, to detect and deter errors, fraud, and theft; to assist an organization ensuring the accuracy and completeness of its accounting data; to enable a business to produce reliable and timely financial and management information; and to help an entity to ensure there is adherence to its policies and plans by its employees, applicable third parties and others. Howell adds that internal controls are entity wide; that is, they are not just limited to the accountants and auditors. Howell also notes that for compliance purposes, controls are those measures specifically to provide reasonable assurance any assets or resources of a company cannot be used to pay a bribe. This definition includes diversion of company assets, such as by unauthorized sales discounts or receivables write-offs as well as the distribution of assets.
Three key takeaways:

Effective internal controls are required under the FCPA.
Internal controls are a critical part of any best practices compliance program.
There are multiple FCPA enforcement actions that demonstrate the enforcement spotlight on internal controls.

Tags Internal Controls

Innovation in Compliance

In Conversation with K2 Intelligence FIN: Jeremy Kroll on GRC Risks, Strategies, and the Future – Part 2: GRC at Work

Post author By admin
Post date September 1, 2020
No Comments on In Conversation with K2 Intelligence FIN: Jeremy Kroll on GRC Risks, Strategies, and the Future – Part 2: GRC at Work

Welcome to this special podcast series, In Conversation with K2 Intelligence FIN: Jeremy Kroll on GRC Risks, Strategies, and the Future, sponsored by K2 Intelligence FIN. This week I visit with K2 Intelligence FIN, Chief Executive Officer (CEO) Jeremy Kroll on GRC Risks, Strategies, and the Future. Over the week, we will review the current Governance, Risk, and Compliance (GRC) landscape, look at GRC at work, consider GRC and the investment community, review GRC and K2 Intelligence FIN and conclude with a look at GRC then and now. In Part 2, we consider some examples of GRC at work.
From the Foreign Corrupt Practices Act (FCPA) world, there is Siemens, which sustained a $1.6bn fine from both US regulators and German regulators for its institutional corruption. The case still remains a landmark settlement and clear failure of a GRC framework. While the company had the rules, policies, and procedures written down, their GRC controls ultimately failed because of a lack of adequate leadership and a culture that enabled corrupt behavior. Following the enforcement action, it became clear they had to reinforce their compliance controls and corporate governance framework.
We ended with some of the biggest takeaways. First, mitigate risk on an ongoing basis. Next, be proactive, not reactive. Finally, it is all about culture. Please join us as we explore this and other GRC-related issues over this podcast series. Tomorrow we examine GRC and the investment community.
Check out the LinkedIn page for K2 Intelligence FIN here.
Check out the K2 Intelligence FIN website here.

Tags GRC

Innovation in Compliance

Caring for Compliance Professionals’ Well-Being with Lisa Beth Lentini Walker

Post author By admin
Post date September 1, 2020
No Comments on Caring for Compliance Professionals’ Well-Being with Lisa Beth Lentini Walker

Lisa Beth Lentini Walker says that there was something missing in the compliance and ethics space. Very often, compliance officers find it an isolating profession. She and her partner founded MentorCore as an avenue to improve the well-being of compliance professionals and to provide the guidance and support they wished they had at the start of their careers. Lisa Beth chats with Tom Fox about the services MentorCore provides.

Four Pillars
“We can come together and make sure that the profession is more sustainable, welcoming, accessible, and inclusive, and because of this MentorCore was born,” Lisa Beth says. She explains that MentorCore is founded on the four pillars of mentoring, learning, community, and development.
Reducing the Network Gap
LinkedIn reported that the three strongest factors that influence your network are your geography, the schools you attended, and the companies you worked for. One of MentorCore’s chief objectives is to reduce the network gap. Tom asks Lisa Beth what is a network gap. She explains that you would have significantly different opportunities based on your network. She argues, “I think that we have a real opportunity to try to find ways to reduce that network gap and break down barriers that prohibit really talented people from living to the utmost and being able to achieve the career successes that they want.”
5 Keys to Better Digital Health
Tom asks Lisa Beth to describe how we can improve our digital health. She shares five keys to improving digital well-being, including limiting screen time, focusing on your physical health, and finding a healthy balance. “You should be thinking about whether the digital part of your life is taking over everything and whether you’ve found what’s going to work for you from an overall holistic well-being standpoint,” she advises listeners.
Resources
MentorCore
MentorCore events
MentorCore on LinkedIn | Instagram | YouTube | Vimeo | Facebook | Twitter
Lisa Beth Lentini Walker on LinkedIn