Day: May 19, 2022

Customs and Human Trafficking Prevention with Richard Mojica

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Post date May 19, 2022
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Richard Mojica is Practice Lead of Customs and Import Trade at Miller & Chevalier. He helps companies comply with the legal requirements associated with importing products into the United States. He also specializes in business and human rights. Richard joins host Gwen Hassan to discuss the overlap between customs and human trafficking prevention, and how they came to intersect.

Though the importation of goods made with forced labor is prohibited by law, there was a loophole that allowed it for decades. The loophole was that if a good was not sufficiently produced in the US to meet consumptive demand, it could be imported, which permitted the importation of goods made with forced labor that fulfilled those requirements. This was made worse by the lack of oversight from customs, which was likely driven by a focus on acquiring necessary goods.

The loophole of consumptive demand was plugged in 2016 by the passing of a new law, and the US Customs and Border Protection was charged with its enforcement. The CBP’s tool for that is the withhold-release order – an instruction that detains merchandise that is suspected of being made with forced labor at the ports of entry.

Resources
Richard Mojica on LinkedIn | Twitter
MillerChevalier.com

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Taxman

What is the Role of Tax in ESG?

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Post date May 19, 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 explore the unexplored topic of the role of tax in a corporate ESG program.
How Tax and ESG Intersect
Tracy tells Tom, “There are external forces pulling tax into the ‘S’ and ‘G’ of ESG.” In the social sector, different jurisdictions have different tax rates and laws, and as companies begin to operate in a tax-efficient manner, their activities will gravitate towards lower tax regimes. Tracy adds, “You’ve got forces trying to push the concept of ‘fair share’ rather than compliance with tax laws of different jurisdictions.” Governance-wise, it’s becoming more common for companies to be required to talk about their compliance tax audits.
The Role of Tax in a Company
With the growing pressures on ESG transparency, there’s a push to standardize reporting and scorecarding of companies based on their tax transparency. This would include things like the reporting of an organization’s effective tax rate.
Tax and ESG in Multinational Organizations
Institutional investors play a major role in impacting the activities of a multinational company. When making investment decisions, these entities heavily incorporate ESG scorecards with tax transparency, further emphasizing the need for a relationship between the two sectors.
Resources
Tracy Howell | Email | LinkedIn

Tags compliance, ESG, tax, Tracy Howell

Everything Compliance

Episode 100, the Ukraine Invasion Edition

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Post date May 19, 2022
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Welcome to the only roundtable podcast in compliance as we celebrate our 100 show. In 2021, Everything Compliance was honored by W3 as a top talk show in podcasting. In this episode, we have the quintet of Jay Rosen, Jonathan Marks, Tom Fox, Jonathan Armstrong and Matt Kelly. We focus on changes to compliance and businesses in the wake of the Russian invasion of Ukraine. We begin with a special Breaking News segment of Elon Musk putting his Twitter purchase ‘on hold’. We conclude with our fan favorite Shout Outs and Rants.

1. Jay Rosen what the Russian invasion of Ukraine means for business ventures for countries in the West. Rosen shouts out Christopher Flores and Robert Moran, the first time pilot who had to take over the landing of a plane when the pilot fell ill and Robert Morgan, the air traffic controller who talked him down to a safe landing.

2. Matt Kelly takes a deep dive into the Stericycle FCPA enforcement action. Kelly rants about Moderna and its hiring of the new CFO for one day and wonders if releasing news of the prior company’s accounting fraud investigation could have been disclosed.

3. Jonathan Marks explores the changes the conflict has wrought for ESG. Marks also rants about Moderna which fired its CFO after one day on the job, asking did Moderna perform any due diligence.

4. Tom Fox looks the changes in the National Security issues for ABC, AML and export control. Fox rants about Justice Alito who wants to take American culture, legal rights and jurisprudence back to the 18^th century English law.

5. Jonathan Armstrong explores the changes the conflict has wrought for ESG. Armstrong shouts out to Ivy Williams and Helena Normanton, the first two women barristers in the United Kingdom.

The members of the Everything Compliance are:
•       Jay Rosen– Jay is Vice President, Business Development Corporate Monitoring at Affiliated Monitors. Rosen can be reached at JRosen@affiliatedmonitors.com
•       Karen Woody – One of the top academic experts on the SEC. Woody can be reached at kwoody@wlu.edu
•       Matt Kelly – Founder and CEO of Radical Compliance. Kelly can be reached at mkelly@radicalcompliance.com
•       Jonathan Armstrong –is our UK colleague, who is an experienced data privacy/data protection lawyer with Cordery in London. Armstrong can be reached at jonathan.armstrong@corderycompliance.com
•       Jonathan Marks is Partner, Firm Practice Leader – Global Forensic, Compliance & Integrity Services at Baker Tilly. Marks can be reached at jonathan.marks@bakertilly.com
The host and producer, ranter (and sometime panelist) of Everything Compliance is Tom Fox the Voice of Compliance. He can be reached at tfox@tfoxlaw.com. Everything Compliance is a part of the Compliance Podcast Network.