Day: April 7, 2023

Kerrville Weekly News Roundup: April 7, 2023

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Post date April 7, 2023
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Welcome to the Kerrville Weekly News Roundup. Each week, veteran podcaster Tom Fox and his colleagues Andrew Gay and Gilbert Paiz get together to go over a couple of their favorite stories from the past week from Kerrville and the greater Hill Country. Sit back, enjoy a cup of morning coffee and listen in to get a wrap up of the Kerrville Weekly News. We each consider two of our favorite stories and talk about the upcoming weekend’s events which will enjoy or participate in this weekend.

In this episode, Tom and Andrew discuss the following stories which caught their attention over the past week.

· Tom talks HEB as a good corporate citizen and Mary Muse announcing her retirement after 8 years as Executive Director of the Kerrville Folk Festival.

· Andrew talks the sole finalist for the position of Superintendent of the Kerrville Independent School District and the Leadership Kerr County participation in EasterFest.

Resources

Tom Fox on LinkedIn

Gilbert Paiz on LinkedIn

Andrew Gay on LinkedIn

Texas Hill Country Podcast Network

Tags EassterFest, HEB, Kerrville Folk Festival, KISD

Because That's What Heroes Do

Picard, Season 3, Episode 1 – The Next Generation

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Post date April 7, 2023
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Get ready for an exciting new season of Because That’s What Heroes Do. In it, Tom and Megan review Picard, Season 3. In this episode, we discuss Episode 1, The Next Generation. We see the return of old characters, conflicts with Starfleet, and exciting new villains. They can’t wait to see Beverly Crusher and tease about her relationship with Picard. We also highlight the tension between characters and the frustration-but-not-entirely-wrong Captain Shaw. Plus, they speculate on the chameleon-like Jack Crusher Jr and the ship, the Shrike. This podcast is a must-listen for anyone looking for exciting new insights into the world of Picard and TNG.

Highlights

· Anticipation for Picard Season 3

· Synopsis of the First Episode

· Key themes and storylines

· Analysis of the Family Dynamics

· Character analysis

· Easter eggs

· Frontier Days

Resources

Megan Dougherty

Tom

Tags Picard Season 3

31 Days to More Effective Compliance Programs

One Month to a More Effective Compliance Program for 3rd Parties – Due Diligence

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Post date April 7, 2023
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Most companies fully understand the need to comply with the requirements around third parties, as they represent the greatest risks for bribery and corruption. However, most companies are not created out of new cloth but are ongoing enterprises with a fully up-and-running business. This means they may need to bring resources to bear while continuing to operate an ongoing business. This can be particularly true in performing due diligence on third parties. Many companies understand the need for a robust due diligence program to investigate third parties but have struggled with creating an inventory to define the basis of third-party risk and perform the requisite due diligence required.

It is stated in the 2023 ECCP that: “Risk-Based and Integrated Processes—How has the management of the company’s third-party process corresponded to the nature and level of the enterprise risk identified by the company? How has this process been integrated into the relevant procurement and vendor management processes?”

Getting your arms around due diligence can sometimes be bewildering for the compliance practitioner. The information you gathered in Steps 1-Business Justification and 2-Questionnaire of the third-party management process should provide the initial information to consider the level of due diligence needed. This leads to Step 3 of the third-party management process: due diligence. The 2020 Resource Guide stated, “As part of risk-based due diligence, companies should understand the qualifications and associations of their third-party partners, including its business reputation, and relationship, if any, with foreign officials. The degree of scrutiny should increase as red flags surface.”

Three key takeaways:

1. Risk rank your third parties and use this as a basis for adequate due diligence.

2. Any red flags which appear must be cleared, and there must be documented evidence of such clearance.

3. There must be documented evidence of a review of the due diligence.

Tags 2023 ECCP, DD, Due Diligence

Sunday Book Review

April 9, 2023 – The Crime and History Edition

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Post date April 7, 2023
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In the Sunday Book Review, I consider books that interest the compliance professional, the business executive, or anyone curious. It could be books about business, compliance, history, leadership, current events, or anything else that might interest me. In today’s edition of the Sunday Book Review, I look at books on the intersection of crime and history.

· The Devil in the White City: Murder, Magic, and Madness at the Fair that Changed America, by Erik Larson

· Furious Hours: Murder, Fraud and the Last Trial of Harper Lee, by Casey Cep

· The Suspicions of Mr. Whicher: or The Murder at Road Hill House, by Kate Summerscale

· American Sherlock: Murder, Forensics and the Birth of American CSI, by Kate Winkler Dawson

· Killers of the Flower Moon: The Osage Murders and the Birth of the FBI, by David Grann

Resource

Five Non-Fiction Books that Mix Crime and History by Amit Katwala in Crime Reads

Tags books on crime, Crime Reads, true crime

The Woody Report

The Woody Report: Succession, The Final Season, Episode 1-Munsters

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Post date April 7, 2023
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Co-hosts Tom Fox and Karen Woody are back as they delve deep into the first episode of the final season of Succession. From the recurring theme of personal vs business decisions to the amazing performance from Shiv, these two bring you it all! But that’s not all – learn valuable lessons about deal-making and cultural fit, and find out why the attention to detail in the clothing and accessories of the characters is so important. And if you’re looking for a great podcast recommendation, tune in to catch their thoughts on a brand-new show – who knows, you might just find your next binge-worthy obsession! Don’t miss the upcoming second episode of The Woody Report, where Tom and Karen bring you all the latest in pop culture, business, and more.

In the first episode of the final season of Succession, the theme of legacy media versus new media is explored. Karen Woody and Tom Fox discuss the tension between the two in the show, with the children of the wealthy Roy family attempting to launch their own media company “The 100”. However, they end up pivoting back to old media by buying out their competitor, Pearce. Karen Woody sums up this theme well when she says, “you see a lot in the beginning of this episode… between new, fresh, young medias… and then it’s back to legacy media”.

Another theme that is explored in the first episode of Succession’s final season is the idea that “everything personal is business, and everything business is personal”. Karen and Tom discuss this ongoing theme in the show, which is evident in the complex relationships between the members of the Roy family, and the blurred lines between their personal and professional lives.

One notable example of this dynamic is the relationship between Tom and Shiv. In a “spectacular scene” in the episode, their personal issues come to the surface during a business meeting, and they struggle to keep the conversation focused solely on business. This highlights the difficult balancing act that the characters must maintain between their personal lives and their business obligations.

As Karen notes, this theme is present throughout the entire series, and continues to shape the dynamic between the characters in the final season. Tune in to the podcast episode to gain further insights on this complex and intriguing theme, and to stay updated on the latest developments in the world of Succession.

Resources

Karen on LinkedIn

Karen at Washington & Lee, School of Law

Tom

Tags Succession

2 Gurus Talk Compliance

2 Gurus Talk Compliance – Episode 3

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Post date April 7, 2023
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What happens when two top compliance commentators get together? They talk compliance, of course. Join Kristy Grant-Hart and Tom Fox for their new podcast, 2 Gurus Talk Compliance! But it is not simply Kristy and Tom talking about compliance. In this podcast series, Kristy and Tom also review other top commentators in compliance. In this podcast, we discuss the recent jail time for a Wells Fargo executive, the UK government’s plan to enforcement of anti-corruption and AML violations, due diligence before acquiring a company, and the recent charges against the co-founder of FTX. They also touch on the shift towards valuing a healthier relationship with work and the potential of the Metaverse in the compliance industry. Tune in to hear Tom and Kristy break down the latest compliance news and provide valuable insight into the industry that will keep you ahead of the curve.

Highlights Include

· Corporate Ethics and Compliance

· The Wells Fargo Scandal and Criminal Accountability

· Uncertainty surrounding CCO certification

· UK Government’s Fight Against Corporate Crimes

· COVID and the Future of Work

· The Importance of Due Diligence in Acquisitions

· Move into the compliance profession

· Indictment of Samuel Bankman Fried

Notable Quotes

1. “If you buy a company engaging in bribery corruption, you’re not responsible for that. But when you take title and ownership, they are not engaging in broader corruption. It is you are engaging in broader corruption.”

2. “I just think that flat banning of CHAT GPD is taking away hugely useful business tools to the Italian business sector.”

3. “It is incredibly rare for a bank officer to be held criminally accountable.

4. I think we’ll start to see that now move from becoming an extraordinary practice to a best practice to a regular practice to table stakes.

Resources

1. Italy Bans ChatGPT

2. Why have workers given up the office

3. CCO certifications

4. Getting your first job in compliance

5. SBF and the FCPA

6. Carrie Tolstedt pleads guilty

7. UK to invest in economic crime enforcement

8. What is happening to the Metaverse

9. Flutter settles FCPA enforcement action

Connect with Kristy Grant-Hart on LinkedIn

Spark Consulting

Connect with Tom Fox on Linkedin

Tags CCO certification, compliance, DD, Due Dilience, SBF, SFO, Wells Fargo, work from home

Daily Compliance News

April 7, 2023 – The Good Friday/Passover Edition

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Post date April 7, 2023
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Welcome to the Daily Compliance News. Each day, Tom Fox, the Voice of Compliance, brings you compliance-related stories to start your day. Sit back, enjoy a cup of morning coffee, and listen to the Daily Compliance News. All from the Compliance Podcast Network. Each day we consider four stories from the business world, compliance, ethics, risk management, leadership, or general interest for the compliance professional.