Day: April 26, 2023

31 Days to More Effective Compliance Programs

One Month to a More Effective Compliance Program for 3rd Parties- Freight Forwarders

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Post date April 26, 2023
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The FCPA world is littered with cases involving freight forwarders, brokers and agents in the shipping and express delivery arena. Both the DOJ and SEC have aggressively pursued third-party business relationships where bribery and corruption have been found. This is particularly true where companies are required to deliver goods into a foreign country through the assistance of a freight forwarder or express delivery service.
If you utilize the services of a third-party for as a freight forwarders, brokers and agents in the shipping and express delivery arena, that company’s actions will go a long way in determining your company’s FCPA liability. You must have a thoughtful process and document that process.

Three key takeaways:

Express delivery services and freight forwarders present unique compliance risks.
There must be a business justification to bring on new express delivery services or freight forwarders in high risk jurisdictions.
Consider constructing a risk matrix in this area.

Tags best practices, compliance, compliance programs, freight forwarders, Third parties

Great Women in Compliance

Great Women in Compliance – Joe Murphy as the Great Waltzer in Compliance

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Post date April 26, 2023
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Welcome to the Great Women in Compliance Podcast, hosted by Mary Shirley and Lisa Fine.

A #GWIC can be lots of things – which is one of the best parts of this community. Today’s guest is a true advocate and supporter of women while also being one of the architects of this profession and one of our best. It’s Joe Murphy, who co-authored the first book ever written on compliance, and is currently the Editor of Compliance and Ethics: Ideas and Answers.

Getting to know Joe is an honor and a privilege, and if you do, you will immediately learn about his passion for dance. He’s a #CCO and #GWIC in his role as Chief Cha-Cha Officer at Haddonfield Dance, and a Great Waltzer in Compliance.

Lisa was lucky to speak with this about and a number of other topics, including the genesis of Compliance and Ethics: Ideas and Answers. They also speak about what Joe sees as the best design for a CECO role to set them up for success, and about the power dynamics that are inherent in roles.

Just as the waltz can be done in a circle, we end with a discussion of what Joe has enjoyed and learned from dance that can be great lessons for life and life in compliance. Lisa and Mary are so grateful that Joe has spent some time with us.

You can find the Great Women in Compliance Podcast on the Compliance Podcast Network where you can find several other resources and podcasts to keep you up to date in the Ethics and Compliance world. You can also find the GWIC podcast on Corporate Compliance Insights where you can learn more about the podcast, stream prior episodes and catch up on Mary’s monthly column “Living Your Best Compliance Life.”

Corporate Compliance Insights is a much-appreciated sponsor and supporter of GWIC, including affiliate organization CCI Press publishing the related book; “Sending the Elevator Back Down, What We’ve Learned from Great Women in Compliance” (CCI Press, 2020). If you enjoyed the book, the GWIC team would be very grateful if you would consider rating it on Goodreads and Amazon and leaving a short review. Don’t forget to send the elevator back down by passing on your copy to someone who you think might enjoy reading it when you’re done, or if you can’t bear parting with your copy, consider it as a holiday or appreciation gift for someone in Compliance who deserves a treat.

If you enjoyed the book, the GWIC team would be very grateful if you would consider rating it on Goodreads and Amazon and leaving a short review. Don’t forget to send the elevator back down by passing on your copy to someone who you think might enjoy reading it when you’re done, or if you can’t bear parting with your copy, consider it as a holiday or appreciation gift for someone in Compliance who deserves a treat.

You can subscribe to the Great Women in Compliance podcast on any podcast player by searching for it and we welcome new subscribers to our podcast.

Join the Great Women in Compliance community on LinkedIn here.

Tags CCO, CECO, compliance, GWIC, Joe Murphy

Compliance Into the Weeds

Compliance into the Weeds – Seagate Sanctions Enforcement Action

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Post date April 26, 2023
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The award-winning, Compliance into the Weeds is the only weekly podcast that takes a deep dive into a compliance-related topic, literally going into the weeds to explore a subject more, looking for some hard-hitting insights on sanctions compliance. Look no further than Compliance into the Weeds!

In this episode, Tom and Matt discuss the recent $300 million fine against Seagate Technology Corporation for violating US sanctions against Huawei. They analyze Seagate’s approach to sanctions compliance, especially when compared to Microsoft’s response to similar violations. With billions of dollars in sales at stake, the implications of these cases for compliance officers are huge. With frank insights, deep knowledge, and engaging dialogue, Compliance into the Weeds is a must-listen for anyone interested in sanctions compliance and the world of business.

Key Highlights:

· Seagate’s controversial business dealings with Huawei

· Seagate’s Sanction Violations and Compliance Programs

· Seagate’s Violation of Foreign Product Rule

· Expanding Lessons for Compliance Officers

Notable Quotes:

“Sanctions is going to be the new FCPA risk,” according to the US Justice Department.”

“The failure to acknowledge your culpability is a key multiplier under the federal sentencing guidelines. And so if this had been any criminal penalty, this fine and penalty would have gone through the roof.”

“Look to your left, look to your right, see what other people are doing, what they’re getting in trouble for, and incorporate those lessons learned into your risk assessment.”

“Sanctions are hard, and companies can misunderstand this. Well, very specifically, the rule that got Seagate into trouble is known as Foreign Direct Product Rule or what is it exactly, the foreign-produced direct product rule?”

Resources

Matt

Blog Post in Radical Compliance

Tom

Tags BIS, Huawei, Seagate

Compliance Week Conference Podcast

Gwen Hassan on Assessing a Growing Risk Area – Human Trafficking and Forced Labor

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Post date April 26, 2023
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In this episode of the Compliance Week 2023 Speaker Preview Podcasts series, Gwen Hassan discusses some of her presentations at Compliance Week 2023, “Assessing a Growing Risk Area – Human Trafficking and Forced Labor.”

Some of the issues she will discuss in her presentations are:

How increased enforcement of anti-forced labor and anti-human trafficking laws, the emergence of new due diligence and trade laws, and heightened inquiries from customers and other business partners are combining to make forced labor prevention compliance a priority for a broad range of companies;
Recent enforcement against the apparel and solar industries and identification lessons learned for other industries that are coming under increased scrutiny by media, NGOs, regulatory authorities, and other stakeholders; and
Recommendations for where and how to start developing a human trafficking prevention program for your organization.

I hope you can join me at Compliance Week 2023. This year’s event will be May 15-17 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 18th year, compliance, ethics, legal, and audit professionals will gather safely face-to-face to benchmark best practices and gain the latest tactics and strategies to enhance their 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 from your program from various session types, including ESG, Human Trafficking, Board obligations, and many others, for you to listen, learn and share.
Compliance Week aims to arm you with information, strategy, and tactics to transform your organization and 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. Listeners of this podcast will receive a discount of $200 by using code TF200 on the link here.

Tags Gwen Hassan, human trafficking

Daily Compliance News

April 26, 2023 – The BAT In North Korea Edition

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Post date April 26, 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.