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Daily Compliance News

Daily Compliance News: July 10, 2024 The Bars of Gold 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:

  • In closing, Menendez lawyers say bars of gold are not evidence of bribery. (Reuters)
  • The U.S. plans to conduct a broader analysis of real estate deals near military bases. (WSJ)
  • It’s all about culture—PE destroys another start-up.  (NYT)
  • DOJ targets white collar crime via whistleblowers. (WaPo)

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 Hill Country Podcast

The Hill Country Podcast: Richard McAlister on The American Red Cross and Hurricane Beryl

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, Richard McAlister from the American Red Cross will talk about the organization’s response to Hurricane Beryl and its ongoing efforts for disaster relief.

Hurricane Beryl significantly damaged Galveston’s electrical infrastructure, leaving approximately 2.3 million people without power. The Red Cross has opened 10 shelters in the Texas Gulf Coast region, providing over 2,100 bed spaces to assist those affected by the hurricane.

These shelters offer climate-controlled environments, essential services such as food, hydration, and medical care to prevent heat-related illnesses, which could exceed the hurricane’s fatality rate. The Red Cross is committed to supporting the affected community for as long as necessary.

Key Highlights:

  • Hurricane Beryl’s Devastation
  • Red Cross Shelters and Services
  •  How to Find a Shelter
  • Health and Safety in Shelters
  • Long-term Support and Commitment

Resources:

AmericanRedCross.org

Other Hill Country-Focused Podcasts

Hill Country Authors Podcast

Hill Country Artists Podcast

Texas Hill Country Podcast Network

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Great Women in Compliance

Great Women in Compliance: Erica Salmon Byrne – Building a Legacy of Ethical Value

In this episode of Great Women in Compliance, Hemma visits with Erica Salmon Byrne, Chief Strategy Officer and Executive Chair of Ethisphere. Having long admired Ethisphere for its commitment to advancing business integrity in a meaningful way, Hemma invites Erica to share how her organization backs that up with research, data from industry benchmarking and culture assessments, and the creation of a strong compliance community. Erica shares her ethics and compliance origin story and critical insights on building a legacy of ethical value and business integrity.

Highlights include the compliance value creation story and how not to be merely a cost center, how to stay outcome-driven rather than activity-based, what we can learn from decades of data on measuring culture, the crucial role of managers in ethics and compliance, the meaning of an employee-centered approach and treating employees as tangible assets, and the power of community in compliance.

Erica is the Chief Strategy Officer and Executive Chair for Ethisphere, the global leader in defining and advancing the standards of ethical business practices that fuel corporate character, marketplace trust, and business success. In this role, Ms. Salmon Byrne oversees product strategy and M&A initiatives for the company while advancing Ethisphere’s founding ethos—that businesses that focus on the long term, commit to doing business with integrity, and invest in their stakeholder communities will outperform their peers.

Erica is also the Chair of the Business Ethics Leadership Alliance (BELA), where she works with the BELA community to advance dialogue, collaboration, and best practices around ethics and governance.

Over her tenure at Ethisphere, Erica has held several roles, including overseeing Ethisphere’s products and solutions, including data-driven program assessments; The Sphere, which offers benchmarking against peers and best practices, along with expertise and related regulatory guidance; ethical culture assessments; and the World’s Most Ethical Companies. To learn more about Ethisphere’s work, visit www.ethisphere.com

A prolific public speaker, Erica is known throughout the ethics and compliance industry as a leader, educator, and advocate for ESG, values-based leadership, and business integrity. In 2022, she was recognized as a Modern Governance 100 Leader by governance firm Diligent. Erica has been featured in the Wall Street Journal, The Washington Post, Fast Company, Forbes, SXSW, and various ethics and compliance publications and podcasts.

You can join the LinkedIn podcast community. Join the Great Women in Compliance podcast community here.

Resource:

2024 Ethical Culture Report: Closing the Speak Up Gap

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Compliance Into the Weeds

Compliance into the Weeds: The Supreme Court and Compliance

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, analyzing term-ending Supreme Court decisions from a compliance perspective.

They address the Jarkesy decision on SEC in-house tribunals, the Loper ruling overturning the Chevron deference doctrine, and the Snyder decision that narrows the scope of federal anti-corruption law. Despite the headlines, they conclude that these rulings have minimal direct impact on corporate compliance programs, emphasizing the ongoing importance of ethical integrity and effective compliance practices.

Key Highlights:

  • Supreme Court Cases Impacting Compliance
  • The Jarkesy Decision: Minimal Impact on Compliance
  • The Loper Case: Chevron Deference Overturned
  • The Snyder Decision: A Controversial Ruling
  • Implications and Final Thoughts

Resources:

Matt on Radical Compliance

Tom 

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Principled Podcast

Principled Podcast: S11E8 | Bridging Global Standards: Navigating Compliance and Ethics in Japan

In this episode of the Principled Podcast, host Amy Hanan, LRN’s Chief Marketing Officer, is joined by Ayumi Kijima, Head of Group Compliance at ORIX, headquartered in Tokyo. This episode examines the evolving landscape of global compliance programs in Japan and internationally and how organizations like ORIX Group are shaping them to meet the challenges of a rapidly changing business environment while staying true to their core values.

Guest: Ayumi Kijima

Principled Podcast - Season 11 Episode 8 - Ayumi Kijima

Ayumi Kijima works at ORIX Corporation as its Assistant General Counsel and Head of Group Compliance, designing, implementing, and overseeing the compliance program for the ORIX Group companies in Japan and overseas. Before joining ORIX Corporation, Ayumi worked as an Associate at the Tokyo office of Squire Patton Boggs. She is qualified to practice law in California.

Host: Amy Hanan

Principled Podcast - Season 11 Episode 8 - - Amy Hanan

Amy Hanan is the chief marketing officer at LRN. Amy, a B2B digital marketing leader, has a nearly 20-year track record in product, brand, lifecycle, and demand-generation marketing and corporate communications for media, professional services, and technology companies. One of her central areas of expertise is executing tech-enabled marketing initiatives for growth. Before joining LRN, Amy was the chief digital officer at Baretz+Brunelle, a marketing and communications agency serving the legal and financial services industries. Her previous experience includes Reorg Research, ALM Media, and The Associated Press. She holds a Bachelor of Arts degree from Northern Arizona University.

Get a copy of the Japan edition of LRN’s 2024 Ethics & Compliance Program Effectiveness Report.

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/

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Trekking Through Compliance

Trekking Through Compliance – Episode 38 – Ethical Lessons from Metamorphosis

In this episode of Trekking Through Compliance, we consider the episode Metamorphosis, which aired on November 10, 1967, and occurred on Star Date 3219.4.

Commissioner Nancy Hedford, who had been on a diplomatic mission to stop a war, is ill with Sicuro’s disease and needs treatment aboard the Enterprise. The shuttlecraft is forced down on a small planetoid, and Kirk cannot contact the Enterprise despite the communications equipment functioning perfectly. On the planet, they find a man named Cochrane, who claims he has been marooned but has a being known as the Companion.

Cochrane is greatly disturbed by the knowledge that the Companion is in love with him and storms out, saying he doesn’t want to be “fodder for any inhuman monster.” Hedford, in a feverish daze, remarks that it is strange that Cochrane runs from love while she has never had the opportunity to be loved. But the Companion occupies and cures the body of Commissioner Hedford, who had been on the verge of death and restores the shuttlecraft and communication devices to working order. However, the Companion cannot leave the planet without dying, and Cochrane decides to remain with her. As they prepare to depart, Kirk agrees not to mention his adventure with Cochrane.

Commentary

The episode features Zephryn Cochran, the discoverer of the Space Warp, who is kept alive by a sentient alien entity known as the Companion. Key ethical issues discussed include the dangers of absolute power, the importance of consent, respecting diversity and self-determination, the balance between duty of care and paternalism, and the need for transparency and accountability. Cochran’s interactions with the Companion serve as a backdrop to highlight these important ethical principles for compliance professionals.

Key Highlights

  • Plot Summary of ‘Metamorphosis’
  • The Companion’s True Nature
  • Ethical Analysis of the Episode
  • Ethical Lessons for Compliance Professionals

Resources

Excruciatingly Detailed Plot Summary by Eric W. Weisstein

MissionLogPodcast.com

Memory Alpha

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Compliance Tip of the Day

Compliance Tip of the Day: Obstacles to Culture Change

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 today’s episode, we consider three key obstacles to culture change that a compliance professional may face or need to address.

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

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Innovation in Compliance

Innovation in Compliance: Arthur Mueller on Harnessing AI to Transform Financial Crime Compliance

Innovation comes in many forms, and compliance professionals need to not only be ready for it but also embrace it. In this episode, Tom Fox visits with Arthur Mueller, a thought leader in compliance and financial crime prevention. We take a deep dive into the topic of financial crime prevention and the use of generative AI in this edition of Innovation in Compliance.

Arthur Mueller has over 20 years of experience in anti-financial crime programs across various institutions. He explains his current role at WorkFusion, where he leverages AI and machine learning to enhance compliance programs. The discussion encompasses the evolution of AML practices, the role of digital workers like Tara in automating routine tasks, and the benefits of AI in improving risk management, efficiency, and worker satisfaction in financial services. Arthur provides real-life examples of how AI can help mitigate risks, streamline operations, and enhance employee productivity and retention.

Key Highlights

  • Evolution of AML and Financial Crime Programs
  • WorkFusion’s Role in Financial Crime Prevention
  • Digital Workers and AI in Compliance
  • Adverse Media Screening and Automation
  • Introducing Tara: The Digital Payment Screening Analyst
  • The Future of AI in Financial Crime Compliance

Resources:
Arthur Mueller on  LinkedIn

WorkFusion

Tom Fox

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Daily Compliance News

Daily Compliance News: July 9, 2024 – The Boeing Pleads Guilty 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:

  • Boeing agrees to plead guilty to a felony count.  (NYT)
  • $50bn Medicare fraud unearthed. (WSJ)
  • Tesla shareholder’s lawyer argues for a $7 billion fee award in the Musk pay case. (Reuters)
  • Final arguments in the Menendez case. (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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Trekking Through Compliance

Trekking Through Compliance – Episode 37 – Ethical Decision-Making Lessons and the Return of Harry Mudd in I, Mudd

In this episode of Trekking Through Compliance, we consider episode I, Mudd, which aired on November 3, 1967, and occurred on Star Date 4513.3.

The Enterprise finds Harry Mudd (Harcourt Fenton Mudd) on a planet and the “ruler” of 500 robot women. Mudd is being studied by the robots, who are accommodating but refuse to let him go. The androids tell Kirk people from the Andromeda galaxy built them. However, the civilization that constructed them was destroyed by a supernova, so the androids were left without supervision. Now, they have found a new purpose in Mudd. Spock makes inquiries and discovers that there are 207,809 androids, and, most importantly, they seem to be controlled by some central coordinating power.

The robots find people too destructive and plan to take over and “serve” all humans in the galaxy to control them. Kirk leaves Harry on the planet with his attendant robots to serve as an example of human failure to them. The robots are also reprogrammed to perform their original task of rendering the planet fit for human life. As a final blow to Mr. Mudd, Kirk also leaves behind several android copies of his shrewish wife, Stella.

Commentary

The episode features the return of Harcourt Fenton Mudd, who hijacks the Enterprise and takes it to a planet of robots. The crew must outwit the androids using illogical actions to regain control. We delve into the episode’s ethical lessons and connect them to compliance practices, emphasizing the importance of ethical decision-making, ethical leadership, and continuous improvement in compliance programs. Fun fact: NBC considered a spin-off series for Harry Mudd due to the episode’s success, although it never came to fruition.

Key Highlights

  • Plot Summary: The Hijacking and Mudd’s Rule
  • The Androids’ Purpose and Kirk’s Plan
  • The Climax: Overloading the Androids
  • Ethical Decision-Making in Compliance

Resources

Excruciatingly Detailed Plot Summary by Eric W. Weisstein

MissionLogPodcast.com

Memory Alpha