Day: April 26, 2024

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Creativity and Compliance

Creativity and Compliance: Global Engagement Strategies

Where does creativity fit into compliance? In more places than you think. Problem-solving, accountability, communication, and connection all require creativity. Join Tom Fox and Ronnie Feldman on Creativity and Compliance, part of the award-winning Compliance Podcast Network.

Ronnie’s company, Learnings and Entertainment, utilizes the entertainment devices that people use to consume information in their everyday, non-work lives, and applies it to important topics around compliance and ethics. It is not only about being funny. It is about changing the tone of your compliance communications and messaging to make your compliance program, policies, and resources more accessible.

Today Ronnie and Tom consider global engagement strategies for a multi-national corporation.

Global engagement strategies encompass a broad and evolving discipline that requires innovative and adaptive mechanisms to effectively connect with a diverse, multinational workforce. Tom highlights the limitations of a “one size fits all” approach and the importance of incorporating engaging elements such as humor and entertainment in global engagement strategies. His perspective is shaped by the belief that it is more effective to tailor content to specific audiences, thus cultivating a library of diverse and engaging content.

Ronnie emphasizes the significance of employing a variety of creative and entertaining approaches, including humor, animation, music, and interactive elements. His experiences underline the notion that traditional methods may not always be the most effective and that leveraging different tools, even if it involves taking risks, can lead to a greater understanding and engagement in a global context.

Key Highlights:

  • Creative Engagement Techniques for Global Workforce
  •  Global Resonance: Music in Communication Strategies
  • AI-Enabled Multilingual Content Transformation
  • AI Subtitling: Cost-Efficient Global Content Localization

Resources:

Ronnie

Tom

Instagram

Facebook

YouTube

Twitter

LinkedIn

For more information on the Ethico ROI Calculator and a free White Paper on the ROI of Compliance, click here.

Categories
Daily Compliance News

Daily Compliance News: April 26, 2024 – The In Sanctions Enforcement Increase Edition

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.

In today’s edition of Daily Compliance News:

  • Foreign Aid Package Raises Companies’ Sanctions Risks (WSJ)
  • A former SNC Lavalin exec sentenced to 3 years on corruption charges. (Financial Post)
  • McKinsey is under criminal investigation for opioid work. (NYT)
  • South Africa puts pressure on the UAE to extradite Gupta.  (Bloomberg)

For more information on the Ethico ROI Calculator and a free White Paper on the ROI of Compliance, click here.

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The Woody Report

The Woody Report: The Panuwat Trial and Verdict

Welcome to The Woody Report, where Washington & Lee School of Law Associate Professor Karen Woody and host Tom Fox discuss issues on white-collar crime, compliance issues, international corruption, securities and accounting fraud, and internal corporate investigations. From current events to topical issues to academic research and thought leadership, Karen Woody helps lead the discussion of these issues on the new and exciting podcast.

In this episode, Tom and Karen explore Matthew Panuwat’s trial and verdict over claims of Shadow Insider Trading.

The intriguing case of insider trading involving Matthew Panuwat at Medivation and Insight is a stark reminder of the intricate nature of insider trading laws, emphasizing the challenging task of distinguishing between legal and illegal trading practices and defining material non-public information. The case highlights the need for precise, stringent controls to prevent such infractions, highlighting the critical role of insider trading policies. While there may be difficulty in determining the materiality and non-public nature of information in insider trading cases, such an approach must now be utilized.

Karen Woody underscores the necessity for tighter controls and clearer policies surrounding insider trading. She sheds light on the importance of considering factors such as peer companies and economic links when determining insider trading liability. Moreover, she accentuates the significance of jury instructions alongside the nuances in defining fiduciary duty and materiality in insider trading cases. She acknowledges the intricacies of insider trading and the challenges in ensuring a level playing field in the financial markets.

Key Highlights:

  • Materiality Dispute in Panuwat Insider Trading
  • Proactive Monitoring for Insider Trading Compliance
  • Professional Ethics in Insider Trading Scenarios
  • Unfair Advantage Through Confidential Information Trading

 Resources:

Karen Woody on LinkedIn

Karen Woody at Washington & Lee, School of Law

Tom Fox

Instagram

Facebook

YouTube

Twitter

LinkedIn

Categories
2 Gurus Talk Compliance

2 Gurus Talk Compliance: Episode 27 – The Too Nice Edition

What happens when two top compliance commentators get together? They talk about compliance, of course. Join Tom Fox and Kristy Grant-Hart in 2 Gurus Talk Compliance as they discuss the latest compliance issues in this week’s episode!

In this episode, we discuss how far the US should push Europe when it comes to banning goods produced with forced labor, whether Canadians are just too darn nice when it comes to bribery, the Supreme Court’s review of when cash given to a US politician crosses from a thank-you gift to a bribe, and a Florida man’s notice to arresting officers that he’d be drinking his beer before being arrested because it’s cold.

The issue of forced labor, particularly in China, and its resultant goods has triggered a significant discourse between the US and Europe, highlighting the intricate connection between international trade and human rights. Tom argues for Europe to adopt stringent measures against forced labor like the US and credits his stand to his profound understanding of the extensive impact such a practice has on modern society. He advocates for a broad ban on goods linked to forced labor and is enthusiastic about the potential of a joint EU, US, and UK task force addressing the issue.

Kristy, with her focused view on the contrasting approaches of the US and Europe, agrees with the necessity of a robust response. She acknowledges the US’s advanced position in tackling forced labor challenges, appreciates the EU’s efforts to enact a similar ban, and supports the idea of a joint task force. She underlines the importance of preventing goods made from forced labor from entering the US via Europe.

 Highlights Include:

  • The fight against climate change reporting. (Harvard Law School Forum on Corporate Governance)
  • Are Canadians too nice to fight ABC? (GAB)
  • What is the opposite of right for compliance? (COI Blog)
  • Between a rock and a hard place. (China Law Blog)
  • Are you shadow trading? (NYU Corporate and Enforcement Blog)
  • Europe Should Be Pushed to Take On Chinese Forced Labor, U.S. Lawmakers Say (WSJ)
  • Corruption or Just Politics? Supreme Court Weighs New Bribery Case as More Clashes Are Brewing (WSJ)
  • The Department of Justice Unveils Groundbreaking Pilot Program: Incentivizing Whistleblowers with Immunity (JDSUPRA)
  • From Gen Z to boomers: How to give critical feedback at work (Washington Post)
  • Florida man pops open beer during police encounter because it was ‘cold’ and he wanted to drink it (FOX 35 Orlando) 

Resources:

Kristy Grant-Hart on LinkedIn

Spark Consulting

Tom

Instagram

Facebook

YouTube

Twitter

LinkedIn

Categories
12 O’Clock High-a podcast on business leadership

12 O’Clock High, a podcast on business leadership: Ron Karr – Beyond Data: The 80/20 Rule of Decision Making

In this episode, I visit with Tom, who welcomes Ron Karr, a long-time thought leader in the art of leadership, persuasion, and influence. They take a deep dive into the science of influence and persuasion and help the compliance professional understand how they can use this science to move the compliance ball forward in an organization.

This script explores the belief that data is precious but accounts for only 80% of the decision-making process. The remaining 20% comes from an assessment of the individual’s current situation, mindset, energy, and skill sets. The importance of not solely relying on data is emphasized through a reference to the movie ‘A Beautiful Mind,’ where a Nobel Prize-winning professor suggests that math (or data) can solve 80% of problems, indicating the necessity of beyond-data factors in solving the remaining 20%.

Key Highlights:

  • The 80/20 Rule for Leadership
  • Purposeful Reflection for Effective Decision-Making
  • Neurochemical Impact on Influencing Others Successfully
  • Propelling Success through Adaptive Strategies
  • Empowering Personal Growth Through Story Rewriting
  • Enhancing Professional Success Through Peer Engagement
  • The Velocity Mindset: Achieving Success Through Networking

Resources:

Ron Karr on LinkedIn

Company

Blog

The Velocity Mindset

 Tom Fox

Instagram

Facebook

YouTube

Twitter

LinkedIn

Categories
Compliance Tip of the Day

Compliance Tip of the Day: Compliance and Corporate Principles

Welcome to “Compliance Tip of the Day,” the podcast where we bring you daily insights and practical advice on navigating the ever-evolving landscape of compliance and regulatory requirements.

Whether you’re a seasoned compliance professional or just starting your journey, our aim is to provide you with bite-sized, actionable tips to help you stay on top of your compliance game.

Join us as we explore the latest industry trends, share best practices, and demystify complex compliance issues to keep your organization on the right side of the law.

Tune in daily for your dose of compliance wisdom, and let’s make compliance a little less daunting, one tip at a time.

In this episode, we explore how compliance can help navigate through the minefield of corporate principles.

For more information on the Ethico ROI Calculator and a free White Paper on the ROI of Compliance, click here.

Categories
Regulatory Ramblings

Regulatory Ramblings: Episode 43 – Why ESG Matters? With Jon Solorzano

Jon Solorzano is a Los Angeles-based attorney who serves as counsel and co-head of the environmental, social, and governance (ESG) task force at the law firm of Vinson & Elkins. Prior to this role, he served as senior director for legal and corporate development at the Clorox Company.

Beyond ESG, Jon is also a highly sought-after thought leader with significant expertise in related fields such as M&A, corporate governance, securities regulation, corporate and business development, consumer products, technology, human capital management, business financial strategy, and international matters for both high-growth start-ups and established Fortune 500 companies.

Few topics are as vexatious and polarizing in contemporary times as the acronym ESG. Legendary investors such as Warren Buffet and his second-in-command, the late Charlie Munger, along with other prominent corporate and finance figures, argue that ESG should not be a consideration in investment decisions.

Against this backdrop, Jon discusses with Regulatory Ramblings host Ajay Shamdasani why ESG matters to investors, companies, and society, alongside corporate social responsibility (CSR) and diversity, equity, and inclusion (DEI). He stresses that while these concepts and movements are related and overlap to some degree, they are not necessarily the same thing. Indeed, Jon notes that those who coined the term ESG might have garnered more support for their cause had they emphasized (G)overnance rather than (E)nvironmental, as even skeptics of global warming can appreciate the importance of well-governed companies and how that affects share prices.

Jon also shares insights into his upbringing, background, and path into the legal profession, as well as how, as a transactional lawyer, he ended up leading his firm’s ESG practice.

While acknowledging the concerns of ESG detractors and naysayers, Jon predicts that 10-15 years from now, the nature of the debate and discussion will be very different. By then, few will even question the importance of ESG to the world’s well-being, he says, as millennials and Zoomers take over the reins of society in developed countries.

A telling sign that Jon’s predictions are accurate is that for younger investors, ESG definitely matters as a yardstick in gauging what constitutes a socially conscious and sustainable investment.

The conversation concludes by examining the extent to which ESG mandates intersect with financial regulation, and why banking and financial institutions globally need to take ESG as seriously as their regulatory compliance and risk management requirements.

Podcast Discussion:

  • 02:01 A Journey through Corporate Law and Stakeholder Engagement
  • 08:05 Unveiling the Complexity: ESG vs. CSR in Corporate Responsibility and Investor Value
  • 20:20 Exploring the ESG Backlash: Understanding Perspectives on Investor Value and Corporate Responsibility
  • 25:01 Corporate Indifference: The Evolution of ESG Amidst Regulatory Pressures
  • 32:59 ESG in a World of Socio-Economic Uncertainty and Geopolitical Tumult
  • 36:28 How do you rebrand ESG: Adapting Perception and Purpose in Corporate Sustainability?
  • 41:26 Insights into the Intersection of ESG and Financial Regulation
  • 44:22 Generation Shift: The Future Landscape of ESG
  • 48:31 The Evolving Role of Professionals in ESG Decision-Making
  • 52:41 Solorzano: Assessing a Practitioner’s Journey in the Evolving ESG Landscape

Connect with RR Podcast at:

LinkedIn: https://hk.linkedin.com/company/hkufintech 
Facebook: https://www.facebook.com/hkufintech.fb/
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Threads: https://www.threads.net/@hkufintech
Website: https://www.hkufintech.com/regulatoryramblings 

Connect with the Compliance Podcast Network at:

LinkedIn: https://www.linkedin.com/company/compliance-podcast-network/
Facebook: https://www.facebook.com/compliancepodcastnetwork/
YouTube: https://www.youtube.com/@CompliancePodcastNetwork
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Website: https://compliancepodcastnetwork.net/

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TechLaw10

TechLaw10: Eric Sinrod & Jonathan Armstrong on the Technology Law Aspects of AI

In this edition of TechLaw10, Jonathan Armstrong talks to Attorney and Professor Eric Sinrod from his home in California. They discuss the technology law aspects of AI.

  • Jonathan talks about some of the conflicts between AI and GDPR.
  • Jonathan talks about the investigation and regulatory action against Clearview AI
  • The Italian DPA’s activity against the use of AI with food delivery apps. Eric looks at the impact of US privacy law. He also looks at the issues presented by AI with contracts and torts—who should bear liability when something goes wrong? and discrimination & bias

You can listen to earlier TechLaw10 audio podcasts with Eric and Jonathan at www.techlaw10.com.

Connect with the Compliance Podcast Network at:

LinkedIn: https://www.linkedin.com/company/compliance-podcast-network/
Facebook: https://www.facebook.com/compliancepodcastnetwork/
YouTube: https://www.youtube.com/@CompliancePodcastNetwork
Twitter: https://twitter.com/tfoxlaw
Instagram: https://www.instagram.com/voiceofcompliance/
Website: https://compliancepodcastnetwork.net/