We had to wait an extra week for the results, but we’re finally ready to unpack what President-elect Biden’s victory means for U.S. international trade priorities in 2021 and beyond. Our friend and very special guest, Richard Mojica, helps us break down what to expect in the U.S., China, and the EU, including what may and may not change with respect to the current era of protectionism, tariffs, free trade agreements, reshoring of supply chains, human rights, and much more. Brian and Tim then revisit their recent predictions on Iran and Cuba to add some new insights based on the events of the past few weeks. Plus, in the Lightning Round, we check in on what’s happening with TikTok (no one seems to know, including the U.S. government) and briefly gaze upon OFAC’s recent advisory regarding high-value artwork to ponder what it all means.
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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: Post-election-palooza!
4:48 Beyond sanctions and export controls: what to expect from a Biden administration (with very special guest Richard Mojica)
44:40 Revisiting some of our pre-election predictions (Iran and Cuba)
1:00:36 Lightning Round
1:01:03 Checking In on TikTok
1:10:15 OFAC Art Advisory
1:17:42 Final Thoughts
***Stay sanctions free.***
Day: November 17, 2020
In this episode, I am joined by AMI Managing Director Stern. We consider how defense counsel can work proactively with independent monitors to help clients who may have sustained an ethical or compliance violation or are under government scrutiny for allegations of illegal misconduct in a wide variety of industries, disciplines and corporate settings. We look at a third-party independent in the health care industry.
In many ways the health care arena can be similar to other business, with their need to work with third-party independents. Stern said, “the cost of getting it wrong these days is very high. It’s not just the cost of hiring lawyers to defend you with a government agency or the Department of Justice. It is even more than the reputational risk. If you are a public company, your stock price is probably going to take a nosedive.” This makes bringing in a third-party independent a “cost effective step to try to get ahead of the situation.” All of this means that bringing in a third-party independent, on a proactive basis to assess a compliance program to bring it up to a best in class standard can really work as a business advantage. Stern believes that to be correct and added, “we work with the company at benchmarking and coming up with best practices. I think most companies want a kind of a state of the art, best practice compliance program rather than simply rely upon what worked five years or 10 years ago.”
Find out more about Affiliated Monitors Inc. by checking out their website here.
The Compliance Life details the journey to and in the role of a Chief Compliance Officer. How does one come to sit in the CCO chair? What are some of the skills a CCO needs to success navigate the compliance waters in any company? What are some of the top challenges CCOs have faced and how did they meet them? These questions and many others will be explored in this new podcast series. Over four episodes each month on The Compliance Life, I visit with one current or former CCO to explore their journey to the CCO chair. This month, my guest is Katie Smith who is the Vice President for Ethics at Assurance. She previously served as Assistant Vice President and Chief Ethics Officer for USAA and Executive Vice President and Chief Compliance and Ethics Officer at Convercent.
Katie is passionate about compliance, having worked in the field for 20 years, building high-performing teams and increasing employee engagement by up to 300%. She has proven expertise in building and promoting talent, creating a trust-based culture, anti-corruption, code of conduct, conflict of interest, marketing internal programs, training and awareness, investigation excellence, data privacy and process efficiency. She is a much sought after public speaker and contributor featured in Wall Street Journal, Time, Fortune, NBC and Compliance Week. Katie’s commitment to the compliance profession is well as she currently sits on the Board of Directors of the Ethics and Compliance Initiative (ECI).
In this third episode, we take up a topic not often discussed by compliance professionals: when is it time to move on? Katie gives six pivots points, including the following: (1) Incredible opportunity – lateral, upward, or balance; (2) Jaded. Objectivity is dying a slow death; (3) Bored as you have stood up a program, survived a crisis, now what do you do? (4) Retire and stay on Autopilot; (5) The support for you program is simply not there; and (6) Died on a compliance hill. Katie provides guidance on what compliance professionals should do if they find themselves in any of these situations.
Tori Reichman is VP Commercial at Vault Platform, a leading B2B enterprise software company. Vault Platform enables employees to report incidents and also “provides a single source of truth to the company so that the company can receive, manage and resolve incidents and also identify and manage risk around the company’s ethical and cultural health.” Her company’s offering and how it enables both employer and employee, is the topic of Tori’s discussion with Tom Fox in this week’s episode of Innovation In Compliance.
Building Trust
“One of the reasons I came to join [Vault Platform] is because there’s something in it both for the employees and the employer,” Tori remarks. “It’s really about building trust and creating trust between those two components.” Vault Platform can be used by organizations in a variety of industries to report on a variety of incidents. Tom asks how it can help companies with continuous monitoring and improvement of their compliance programs. Tori explains that Vault Platform allows companies to have real-time visibility into incidents occurring across the organization via the dashboard. “From an investigation resolution perspective, we also have always had the board at the center of it,” she comments. “[We are always thinking about] what the board needs to know to be able to provide guidance, to get that true visibility so they can see what’s happening.”
The Rise of Employee Activism and Cyberbullying
One result of the #MeToo and Black Lives Matter movements is that companies are facing social pressure to act with integrity. Employee activism is on the rise around the world because workers want to speak out – they care about working with companies that take meaningful action on issues. Tom and Tori discuss the importance of creating a climate where employees feel psychologically safe to speak out about their experiences or what they witness. Tom introduces the important topic of diversity and inclusion. Tori says that she is pleased that the conversation today is more about equity and inclusion than about what makes us different. “It’s about how do we bring our different selves to work together to achieve the organization’s objectives or society’s objectives,” she points out.
Cyberbullying is unfortunately becoming more common in the pandemic. Tom and Tori discuss this phenomenon, and Tori shares insights why it is so. One reason is that when people are under stress they are more likely to turn a blind eye to misconduct: they are focused on taking care of themselves, Tori says.
Resources
VaultPlatform.com
Vault Platform on LinkedIn | Twitter
Tori Reichman on LinkedIn
tori@vaultplatform.com
Create a healthy cyberculture: Stop bullying at work
Tori Reichman is VP Commercial at Vault Platform, a leading B2B enterprise software company. Vault Platform enables employees to report incidents and also “provides a single source of truth to the company so that the company can receive, manage and resolve incidents and also identify and manage risk around the company’s ethical and cultural health.” Her company’s offering and how it enables both employer and employee, is the topic of Tori’s discussion with Tom Fox in this week’s episode of Innovation In Compliance.
Building Trust
“One of the reasons I came to join [Vault Platform] is because there’s something in it both for the employees and the employer,” Tori remarks. “It’s really about building trust and creating trust between those two components.” Vault Platform can be used by organizations in a variety of industries to report on a variety of incidents. Tom asks how it can help companies with continuous monitoring and improvement of their compliance programs. Tori explains that Vault Platform allows companies to have real-time visibility into incidents occurring across the organization via the dashboard. “From an investigation resolution perspective, we also have always had the board at the center of it,” she comments. “[We are always thinking about] what the board needs to know to be able to provide guidance, to get that true visibility so they can see what’s happening.”
The Rise of Employee Activism and Cyberbullying
One result of the #MeToo and Black Lives Matter movements is that companies are facing social pressure to act with integrity. Employee activism is on the rise around the world because workers want to speak out – they care about working with companies that take meaningful action on issues. Tom and Tori discuss the importance of creating a climate where employees feel psychologically safe to speak out about their experiences or what they witness. Tom introduces the important topic of diversity and inclusion. Tori says that she is pleased that the conversation today is more about equity and inclusion than about what makes us different. “It’s about how do we bring our different selves to work together to achieve the organization’s objectives or society’s objectives,” she points out.
Cyberbullying is unfortunately becoming more common in the pandemic. Tom and Tori discuss this phenomenon, and Tori shares insights why it is so. One reason is that when people are under stress they are more likely to turn a blind eye to misconduct: they are focused on taking care of themselves, Tori says.
Resources
VaultPlatform.com
Vault Platform on LinkedIn | Twitter
Tori Reichman on LinkedIn
tori@vaultplatform.com
Create a healthy cyberculture: Stop bullying at work
