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Compliance Into the Weeds

Compliance into the Weeds: Pre – taliation Illegality- from Employment Contracts to All Contracts

The award winning, Compliance into the Weeds is the only weekly podcast which takes a deep dive into a compliance related topic, literally going into the weeds to more fully explore a subject. Looking for some hard-hitting insights on compliance? Look no further than Compliance into the Weeds!

In this episode, Tom Fox and Matt Kelly take a deep dive into the recent SEC enforcement actions against several companies for pre-taliation clauses and related illegal intent.

Our conversation discusses recent enforcement actions by the SEC sanctioned against seven companies for a total of $3 million in civil penalties. The main issue was that these contracts required employees to forfeit any right to whistleblower awards if they reported misconduct to regulators. The conversation explores the legality of these contract clauses and the chilling effect they have on potential whistleblowers. Tom and Matt also discuss the challenges of remediation and the need for a comprehensive approach to address retaliatory clauses in all types of contracts.

Key Highlights:

  • SEC Enforcement Actions on Pre-Retaliation Language
  • The Illegality of Pre-Retaliation Clauses
  • Addressing Pre-Retaliation Clauses: Remediation Challenges
  • Expanding the Focus: From Employment Contracts to All Contracts

Resources:

Matt in Radical Compliance

Tom 

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Check out the full 3-book series, The Compliance Kids on Amazon.com.

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Compliance Tip of the Day

Compliance Tip of the Day: Measuring Compliance Training Effectiveness

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 consider the why of and how to measure compliance training effectiveness.

For more information on the Ethico Toolkit for Middle Managers, available at no charge, click here.

Check out the full 3-book series, The Compliance Kids on Amazon.com.

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Great Women in Compliance

Great Women in Compliance: Internal Controls and Compliance: Building a Successful Partnership

We emphasize the importance of “understanding the business,” in Ethics & Compliance, which is absolutely critical to our success.  One of the topics we discuss less frequently is how to work with other control functions, one of which is internal controls. Lisa is speaking about this topic at the SCCE CEI with Matt Kelly from Radical Compliance. In advance of the conference, Lisa Fine and Ellen Hunt co-hosted a roundtable discussion with Matt Kelly from Radical Compliance and Sarah Lawrence, Sr. Director of Internal Controls at Pearson.

In this episode, they discuss the history and purpose of internal controls and SOX, how they evolved and how they work today.  In particular, they focus on what is financial materiality vs what E&C sees as areas for controls.

The whole group agreed that open lines of communication and coordination are fundamental to both of these control functions working together, and Sarah and Lisa discuss how they have built a collaborative relationship so that both the finance and compliance sides understand each other’s objectives and keep an open line to the benefit of both functions.

#GWIC is proud to announce that it has been nominated for the WomenInPodcastAwards.  This is a people’s choice award and whether you vote for #GWIC or other nominees, we ask that you send the elevator back down by voting. Voting opens August 1, 2024, and details can be found on the #GWIC LinkedIn page at http://www.linkedin.com/groups/12156164

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Join the Great Women in Compliance community on LinkedIn here.

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Daily Compliance News

Daily Compliance News: September 11, 2024 – The Never Forget 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:

  • The Taxman comes for Apple and Google in the EU. (NYT)
  • John Deere settles FCPA allegations. (WSJ)
  • Ex-Glencore employees plead not guilty. (FT)
  • Microsoft is tackling bias in AI. (BBC)

For more information on the Ethico Toolkit for Middle Managers, available at no charge, click here.Check out the full 3-book series, The Compliance Kids on Amazon.com.

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The Hill Country Podcast

The Hill Country Podcast: Educational Innovations at Ingram ISD: A Conversation with Dr. Robert Templeton

Welcome to award-winning The Hill Country Podcast. The Texas Hill Country is one of the most beautiful places on earth. In this podcast, Hill Country resident Tom Fox visits with the people and organizations that make this the most unique area of Texas.

This week Tom welcomes back Dr. Robert (Bobby) Templeton, Superintendent of Ingram ISD

Dr. Templeton shares the district’s challenges and achievements, including a historic flood that caused significant damage and the impressive resilience of the students. He discusses the district’s innovative early college program, which allows students to graduate with an associate’s degree, saving families significant money. The episode also highlights a new building trades program to prepare students for careers in construction. Additionally, Dr. Templeton emphasizes the importance of community involvement, school safety, and healthy competition in education. He reflects on his Rotary Club experience and its role in fostering local and global service projects. The conversation concludes with Dr. Templeton’s commitment to ensuring student safety and success.

Key Highlights:

  • Challenges and New Initiatives at Ingram ISD
  • Early College Program Success
  • Building Trades Program
  • Community Involvement and Rotary Experience
  • Focus on School Safety

Resources:

Ingram ISD

Other Hill Country Focused Podcasts

Hill Country Authors Podcast

Hill Country Artists Podcast

Texas Hill Country Podcast Network

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Blog

Looking Back on 9/11: John Lee Dumas – I Knew I Was Going to War

Ed. Note: In 2021, I did remembrance of 9/11 with a podcast series and accompanying blog post series featuring the personal stories of persons in the compliance field with their thoughts about what the date of 9/11 meant to them, how it changed our profession and their thoughts looking back some 20 years later. The series featured the following:

I concluded this series by visiting with John Lee Dumas, host of the uber-popular podcast Entrepreneur on Fire. On 9/11, Dumas was a senior at Providence College. John had one of the most powerful stories I have ever heard about 9/11.

==============================================================Dumas was also an Officer Candidate in ROTC on 9/11. He said, “I remember waking up in the morning, and one of my roommates said, “Hey, turn the TV on.” We turned on the TV, and we just saw the tower smoking. Shortly after that, the collapse will be live on the television screen. One of my roommates who was also in ROTC, we looked at each other, and we both knew without saying anything that our next four years of active-duty army experience went from being in the peacetime army to looking like we were going to war of some kind. We knew that when that tower collapsed, we would play a very active role as officers in the US Army. Within a couple of hours, we had a real-world briefing at our ROTC headquarters on campus, where the commander of our ROTC battalion gave us a real-world breakdown. It confirmed what we were thinking when we saw that the tower collapsed. We just became officers in the US Army during a time of war.”

We turned to leadership lessons Dumas learned from his time in the Army. He commanded a tank platoon, which was four M1 Abrams tanks and 16 men. Yet, as the tank commander, Dumas was one of the least knowledgeable persons in his platoon about how a tank worked, the best operations, how to drive a tank, how to load the Sable rounds, how to fire the weapon, and even how to navigate. He said, “I was the platoon leader at 22 years old and one of the least experienced and knowledgeable people in my platoon. That’s how the military works. And I learned right at the beginning that I needed to stand upon the shoulders of giants. I needed to go to my platoon sergeant, who seemed like an old man at 37 years old at the time. But it was me, like a little baby.”

Dumas went to Sergeant Walker with humility and humbleness and asked him, “What do I need to know? How can you be respectful in front of the men? How can you respectfully be my mentor?” He appreciated that “I was not trying to pretend I knew what I didn’t know and going to him for advice. That was a big lesson. And I’m standing upon the shoulders of giants and learning from those who have been there, done that with experience.”

Another key leadership lesson for Dumas was that “a good decision now is better than a great decision later.” He said he has seen many people in the entrepreneurship and business world paralyzed, trying to make a great decision. “They are trying to be like General Patton, trying to make the one decision to win the war.” The problem is that if you “try to wait around and wait while the bullets are flying to make a great decision, you and probably other people are going to die because time is everything. Action is everything. Just coming up with a good decision and implementing it right now will be the fraction that separates life and death for many people; I learned that firsthand, and that will always stay with me. I took that lesson from the military and applied it to entrepreneurship. I’m not going to sit around and try to make a great decision on this aspect of my podcast, on that aspect of my business, on this aspect of this; I’m just going to make a good decision and take action. And if I need to adjust later, I will.”

We talked about losing men in combat. Dumas said he learned, at ages 22 and 23, the finality of death. He said, “Somebody you had breakfast with that morning, they were talking about their hopes, dreams, aspirations, what they were going to do when they got back that evening, what they’re going to do when they get back home from combat. And then, all of a sudden, it’s over. None of that is going to happen. None of their hopes, none of their dreams will ever be realized. There’s just such a finality to it. It made me pledge to myself never to forget number one, of course, the sacrifice that these soldiers make, but never forget just the finality of death and how we can all have the best of intentions.”

He learned that if you “don’t take action on them, death can wipe those best intentions away, and you can be left essentially having never done or accomplished anything that you set out to do in this life so quickly. This put a ticking time bomb mentality in my mind, and if I don’t feel like this is the right path for me, I won’t waste any more time fussing around having the sunk cost fallacy.” This led him to his current profession, which he loves.

I concluded by asking Dumas about his reflections on 9/11 and on going to war in Iraq some 20 years later. He said, “My reflections on 9/11 were just travesty, terror, confusion, panic, nobody knowing what was coming next. The major message that I do want to pass across to people today was evident to me living in Iraq for 13 months and living in a world where there was no police. There was no law. There was no cohesion. There were no repercussions. This is a great country and the home of the free because of the brave. And I hope that’s just something that we will always remember.

I hope you will take a moment on this most solemn day to reflect on 23 years after 9/11.