In today’s edition of Daily Compliance News:
In this episode of Career Can Do, Mary Ann Faremouth chats with Jill Peplinski, who is Adjunct Professor of Business Communications, and Success Center Specialist at Walsh College. Walsh College is a private and prestigious institution recognized for one of the top 15 MBA programs. Jill talks about Walsh’s unique educational approach to the professional development of their students.
At Walsh, it’s all about networking. Many of their adjunct professors work in the fields they teach, so students are easily able to make connections through them. Walsh’s phenomenal career services department hosts internships and career fairs for their students, as well as a mentor program that matches any interested student with a mentor that helps them develop professionally. Allowing their students to work with polished professionals helps them build the confidence they need to help them in various ways along their career journey.
When she first started at Walsh, Jill had intended to only stay for about five years and then move on. Twenty years later, she’s still there helping students grow day by day. “I like teaching best,” she shares, “building up our students is tremendously rewarding… I love being able to bring prior experiences that I’ve had to [my] students.”
Resources
Jill Peplinski | LinkedIn
Faremouth.com
Welcome to the Hughes Hubbard Anti-Corruption and Internal Investigations Practice Group’s Podcast, All Things Investigations. In this podcast, host Tom Fox and members of the Hughes Hubbard Anti-Corruption & Internal Investigations Practice Group will highlight some of the key legal issues involved in white-collar and other investigations, both domestically and internationally. In this episode, I speak with Kevin Carroll, a partner at Hughes Hubbard, about congressional committees and investigations.
Kevin Carroll is a partner in the firm’s Washington and New York offices in its white-collar and investigations practices. Kevin represents businesses, senior executives, and government officials in congressional and criminal investigations; conducts internal investigations; and litigates national security claims. Kevin also helps counsel businesses on CFIUS/FIRRMA, cyber security and data privacy, EAR/ITAR, FARA, FCPA, FISA, FMS, and OFAC compliance. Kevin is a Colonel in the United States Army Reserve and a writer whose work has been published in the Wall Street Journal, Washington Post, and Bloomberg Law.
Key areas we discuss on this podcast are:
Resources
Hughes Hubbard & Reed website
Kevin Carroll
Trysha Daskam has made appearances on many of Tom Fox’s podcasts over the years; she comes to this week’s show to share her ESG expertise. Trysha holds the positions of Managing Director and Head of ESG Strategy at Silver Regulatory Associates, a boutique consulting firm offering ESG services, compliance and regulatory services, and due diligence services. Today, she joins him to discuss the expectations for ESG significance and regulatory concerns moving into 2022.
The Work of Silver Regulatory Associates
“We take a really unique approach to ESG,” Trysha tells Tom. At Silver, they’re thoughtful about building ESG programs from the regulator’s perspective. By evaluating an investment manager through the lens of their investment strategy, Silver understands how ESG can be incorporated in a natural way, allowing the programs to really thrive.
How Important is ESG Training?
There should definitely be a focus on competency across regulatory firms, especially with the increase of investment managers being on board with ESG responsibilities. Trysha has seen an uptick in clients requesting ESG training in order to understand the responsibilities of the different members of the firm, including investment professionals and compliance professionals. “It’s correct to think about your ESG program with the same cautiousness and prudence you would use for any other policy or procedure,” she states.
The Growth of ESG
The momentum of ESG in 2021 has influenced more and more organizations to voluntarily align their company values with those of ESG, and, as a result, financial services are starting to feel the pressure.
What to Expect, Moving Forward
Earlier in the year, Silver issued a report discussing the areas that private investment fund managers should focus on, going into 2022. For Trysha, the key takeaways were:
Regulation and ESG Reporting in 2022
Trysha cites greenwashing as the core of every regulatory movement being seen today. Though the EU is the most vocal about this, the SEC has also stated that they view greenwashing as a major risk in the current marketplace. Where there is an opportunity to use language describing an approach to ESG, there needs to be auditing of whether or not it is authentic to what a manager is actually accomplishing.
DEI (Diversity, Equity and Inclusion) is another important issue. Managers are responding to DEI questions from their investor base on a more routine basis, and DEI-related questions have matured over time. Trysha believes that this will continue going into 2022, and there could be regulatory obligations around transparent reporting out of the SEC in the future.
She and Tom also discuss the frustration surrounding the lack of international standards for framework, and whether or not it will be addressed in 2022. Trysha thinks that some light is beginning to be shed on the evaluation, and ultimately, the development of these standards.
RESOURCES
Tom Fox’s email
Trysha Daskam | LinkedIn | Silver Regulatory Associates
In this episode of the FCPA Compliance Report I visit with Claire Worledge. Claire is an internal auditor by professional training. She is the author of Data Analytic Secrets. We visit about her book and her work to bring greater visibility to data analytics to the internal audit profession and the wider compliance profession. Some of the highlights include:
What is data visualization?
What do you see as the role of data analytics in internal audit?
Why Claire wrote Data Analytic Secrets and the audience for the book.
How can data analytics and visualization be used in fraud prevention?
How about anti-corruption/anti-bribery programs?
How can internal audit be best used in an anti-corruption/anti-bribery program?
What is the intersection of internal audit and internal control?
Resources
Claire Worledge on LinkedIn
Aufinia website
In today’s edition of Sunday Book Review:
Resources
Top 4 Supply Chain Books That Every Student Should Read by Mohamed Boualam on LinkedIn
In this podcast series, two complete MCU fans, Tom Fox, founder of the Compliance Podcast Network, and Megan Dougherty, co-founder of One Stone Creative, indulge in a passion for all things in the Marvel Cinematic Universe by re-watching each movie and then podcasting on every movie in the MCU. If you want to indulge in your love for the MCU with two fans passionate about all things MCU, this is the podcast series for you. For this offering, we consider MCU Series – Dr. Strange.
Some of the highlights include:
Ø The story synopsis.
Ø What are the key plot points?
Ø What were some of our favorite cookies?
Ø How does this movie fit into the overall MCU?
Ø How is this movie an homage to prior non-MCU movies?
**Next up in our series Thor-Ragnarok**
The Justice Department ended its FCPA enforcement drought by announcing its first corporate settlement in 2022. In a parallel action, the SEC announced its settlement with Stericycle for $28 million for FCPA violations. The SEC’s settlement was second with a company for 2022 (the first was KT Corp.).Under the settlement, Stericycle resolved investigations being conducted by the Department of Justice, the Securities and Exchange Commission, and Brazil. Stericycle agreed to enter into a three-year deferred prosecution agreement and pay more than $84 million. Stericycle will pay $52.5 million in criminal penalties, $28 million to the SEC in civil penalties and disgorgement, and approximately $9.3 million to Brazilian authorities. DOJ agreed to credit up to one-third of the criminal penalty against the company’s fines to Brazilian authorities. Significantly, the DPA requires Stericycle to obtain an independent compliance monitor for a two-year period and then submit a self-report for the rest of the DPA term. Stericycle is a global waste management company which is headquartered in Illinois. In its factual admission, Stericycle admitted a wide-ranging scheme involving the payment of bribes to foreign officials in Brazil, Mexico, and Argentina. In total, Stericycle paid approximately $10.5 million in bribes to foreign officials in Brazil, Mexico, and Argentina to secure business contracts from which Stericycle profited by at least $21.5 million.
In this episode, Michael Volkov reviews the Stericycle FCPA enforcement action.
