Day: April 28, 2022

Matt Friedman on The Human Factor of ESG

Post author By admin
Post date April 28, 2022
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In this episode of the Compliance Week 2022 Preview Podcasts series, Matt will discuss some of his presentation at Compliance Week 2022, “The Human Factor of ESG.” Some of the issues he will discuss in this podcast, and his presentation are:

The state of modern slavery and examining the impact on the global supply chain.
Working to disrupt the human slavery trade.
The ways that compliance professionals can remain vigilant within the human rights sector.

I hope you can join me at Compliance Week 2022. This year’s event will be May 16-18 at the JW Marriott in Washington DC. The line-up of this year’s event is simply first-rate, with some of the top ethics and compliance practitioners around.

Gain insights and make connections at the industry’s premier cross-industry national compliance event offering knowledge-packed, accredited sessions and take-home advice from the most influential leaders in the compliance community. Back for its 17th year, compliance, ethics, legal, and audit professionals will gather face-to-face to benchmark best practices and gain the latest tactics and strategies to enhance compliance programs and many others to:

Network with your peers, including C-suite executives, legal professionals, HR leaders, and ethics and compliance visionaries.
Hear from 75+ respected cross-industry practitioners who are CEOs, CCOs, regulators, federal officials, and practitioners to help inform and shape the strategic direction of your enterprise risk management program.
Hear directly from the two SEC Commissioners, gain insights into the agency’s enforcement areas, and walk away with guidance on remaining compliant within emerging areas such as ESG disclosure, third-party risk management, cybersecurity, cryptocurrency, and more.
Bring actionable takeaways back to your program from various session types, including ESG, Human Trafficking, Board obligations, and many others, to listen to, learn and share.
Compliance Week aims to arm you with information, strategy, and tactics to transform your organization and your career by connecting ethics to business performance through process augmentation and data visualization.

I hope you can join me at the event. For information on the event, click here. As an extra benefit to listeners of this podcast, Compliance Week is offering a $200 discount on the registration price, and enter discount code TFLAW $200 OFF.

Tags ESG, human trafficking, Matt Friedman, Modern Slavery, UK Modern Slavery Act

EMBARGOED!

EMBARGOED! Episode 47: The Evolving U.S. Response to Russia’s Invasion of Ukraine

Post author By Miller & Chevalier
Post date April 28, 2022
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After a brief break, Brian and Tim are back to catch up on all things Russia, including the biggest compliance challenges thus far, the recent U.S. ban on “new investment,” and where things could be headed in the coming months. Next, they head to SDNY to discuss a notable recent sentencing in a North Korea sanctions case. Finally, in the Lightning Round, Brian and Tim debate the role and impact of sanctions-like bans in the world of international sports.

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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.
***Stay sanctions free.***

Tags Brian Fleming, Russia Sanctions, Tim O'Toole

Taxman

What is Transfer Pricing?

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Post date April 28, 2022
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What is the intersection of tax and compliance? Why does a Chief Compliance Officer (CCO) or compliance professional need to sit down with the corporate head of tax? How does a corporate tax function fit into a best practices compliance program? It turns out there is quite a bit a compliance professional can learn from a tax professional. Moreover, there are many aspects of tax which should be considered by a CCO and compliance professional from an overall risk management perspective. Unfortunately, these questions are rarely explored in the compliance community. In this episode, we transfer pricing.
The Concept of Transfer Pricing
Transfer pricing encompasses the methodologies required by tax code to price transactions between affiliated companies. Devising an arm’s length rate for comparable transactions between comparable entities is more art than science. As far as compliance is involved, Tracy believes that, “If you’re a compliance officer that can say anything more than just the words, ‘transfer pricing,’ then you are, indeed, an FOT (friend of tax).”
Parties Involved in Transfer Pricing
Governments (taxing jurisdictions) tend to be involved with different regimes for selling and buying. Third party organizations that are involved currently only consist of the OECD (Organization for Economic Cooperation and Development), who push standard transfer pricing laws and regulations throughout the world.
The objective of the governments is to get their fair share, and they do so by trying to obtain the maximum multi-jurisdictional transaction profit. Consequently, the OECD attempts to provide guidance on what constitutes a fair share. “What’s fair is just somebody’s opinion,” Tracy tells Tom.
Developing a Transfer Pricing Strategy
As a multinational corporation, it is crucial to set transfer pricing policies and business practices at the beginning. This involves identifying the appropriate methodology that will be used to price the transactions between affiliates. Documenting this process of analysis and conclusion helps to adopt a suitable transfer pricing methodology. In summary: perform analysis, document analysis, then adopt the findings in future transactions.
Tracy poses the question, “How often have you seen a company that’s got the policies and procedures, but somebody’s not following them?” Claiming to have global policies for all multinational intercompany transactions, and then failing to follow them leads to an extreme loss of credibility – this is why it is important to comply with local documentary requirements, “You’ve got to follow the laws, even if they’re a little bit different.”
Resources
Tracy Howell | Email | LinkedIn