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This Week in FCPA

Episode 247 – the GES edition


As the Baylor Bears win their first NCAA BB title and Ethisphere’s annual Global Ethics Summit is just around the corner, Tom and Jay are back to look at this week’s stories top compliance and ethics stories which caught their interest on This Week in FCPA. This week we are joined by special guest Kevin McCormack from Ethisphere who highlights the 2021 Global Ethics Summit.
Stories

  1. Credit Suisse feels the pain of poor risk management. Matt Kelly in Radical Compliance. Dylan Tokar in the WSJ Risk and Compliance Journal. Tom Smith in the Financial Times.
  2. Jason Meyer sees a win for compliance and ethics, on LinkedIn.
  3. Is a SOX whistleblower required to prove fraud? Jason Zuckerman in the Whistleblower Protection Blog.
  4. Karen Woody named Herndon Fellow. Peter Jettons in The Columns.
  5. Accountability: it’s all of us. Sam Sliverstein in LinkedIn.
  6. Time for a national privacy law. Steven Cavey in CCI.
  7. Is what you need Goldilocks compliance? Jeff Kapan in CEP.
  8. Ready to move into compliance or risk management? Dick Cassin says asks some questions first, in the FCPA Blog.
  9. How to protect whistleblowers? Alexander Ghavinian in the FCPA Blog. Six principles of whistleblower protection. František Nonnemann the Risk and Compliance Platform Europe.
  10. As int’l anti-corruption evolves, is the US losing its place. Robert Clark explores in the FCPA Blog. 

Podcasts and Events

  1. On Integrity Through Compliance, Don Stern and Eric Feldman host former DAG Rod Rosenstein for a two-part series on the past, present and furture of compliance and independent monitoring. Check out Part 1 here.
  2. Tom and Megan Dougherty are doing a special podcast series around The Falcon and The Winter Soldier, currently streaming on Disney+. Check out Episodes 1&2 and Episode 3.
  3. This month on The Compliance Life, Tom welcomes Jonathon Kellerman. In Episode 1, Jonathon discusses the path he took to compliance.
  4. CCI releases a new eBook, The FCPA Year in Review by the Compliance Evangelist, Tom Fox. You can obtain a copy here. Best of all its available at no charge.
  5. Join Tom and Jay at Ethisphere’s 2021 Global Ethics Summit, which will be held virtually April 13-15. Listeners to this podcast will receive a 15% discount to Ethisphere’s Global Ethics Summit For more information and registration details click here. Use the code tomfox15 for your discount.
  6. Join K2 Integrity’s financial crimes compliance professionals on Thursday, 22 April 2021, at 10 AM ET for DOLFIN’s “Ask an Expert FINQuiry” webinar, for a discussion on the impact of ongoing developments in the financial integrity community. Information and Registration here.
  7. Tom announces his latest book, The Compliance Handbook, 2nd edition is available for presale purchase. Use the code FOX25 and go here. The Compliance Handbook 2ndedition will be available in both print and eBook editions. This week on The Compliance Handbook podcast, the ladies from #GWIC join Tom for a deep dive into written standards.

Tom Fox is the Voice of Compliance and can be reached at tfox@tfoxlaw.com. Jay Rosen is Mr. Monitor and can be reached at jrosen@affiliatedmonitors.com.

Categories
Daily Compliance News

April 9, 2021 the Risk Management Failure edition


In today’s edition of Daily Compliance News:

  • CC start up hires former CFPB rep for GC/CCo role? (WSJ)
  • Why did risk management fail so spectacularly at Credit Suisse? (WSJ)
  • Is GA.’s new voter suppression law based on corruption? (MSNBC)
  • Norberg leaving SEC Office of the Whistleblower. (WSJ)
Categories
Everything Compliance

Episode 78, the Opening Day edition


Welcome to the only roundtable podcast in compliance. Today, we have a quartet of Matt Kelly, Jonathan Marks, Jonathan Armstrong and Mike Volkov for a deep dive into plethora of topics related to Opening Day. We end with a veritable mélange of rants and shouts outs.

  1. Jonathan Armstrong takes us through the current state of the fight against the international scourge of modern slavery. Armstrong rants about the BBC’s non reporting on BoJo paramour Jennifer Arcuri until four days after the story broke.
  1. Jonathan Marks talks about the endemic corruption in eSports and the lack of any regulatory body to address the issue. Marks shouts out to FBI Special Kerrie Harny who led the investigation that brought down fraudulent concert promoter Andres Fernandez who told people he could make them wealthy investing in the glamorous industry. He rants about the National Association of eSports (NACE) for its lack of leadership around the corruption in eSports.
  1. Mike Volkov talks different perspective on risk management from the perspectives of a GC and CCO. Volkov shouts to the federal prosecutors who have been handling the Matt Gaetz investigation.
  1. Matt Kelly discusses the corporate responses or lack thereto of the state of Georgia voter suppression law. Kelly shouts out to Danielle Frazier, the teenager who filmed the killing of George Floyd and apologized to the Floyd family for not doing more to save him.
  1. Tom Fox shouts out to John Boehner who in his new book said, “There is nothing more dangerous than a reckless asshole who thinks he is smarter than everyone else. Ladies and gentlemen, meet Senator Ted Cruz.”

For additional reading see:
Matt Kelly blog post on Radical Compliance, Corporate Ethics and Voter Suppression Laws 
See Cordery Compliance Client Alert, Modern Slavery, UK Online Registry Launched 
The members of the Everything Compliance are:

  • Jay Rosen– Jay is Vice President, Business Development Corporate Monitoring at Affiliated Monitors. Rosen can be reached at JRosen@affiliatedmonitors.com
  • Mike Volkov – One of the top FCPA commentators and practitioners around and the Chief Executive Officer of The Volkov Law Group, LLC. Volkov can be reached at mvolkov@volkovlawgroup.com
  • Matt Kelly – Founder and CEO of Radical Compliance. Kelly can be reached at mkelly@radicalcompliance.com
  • Jonathan Armstrong –is our UK colleague, who is an experienced data privacy/data protection lawyer with Cordery in London. Armstrong can be reached at armstrong@corderycompliance.com
  • Jonathan Marks is Partner, Firm Practice Leader – Global Forensic, Compliance & Integrity Services at Baker Tilly. Marks can be reached at marks@bakertilly.com

The host and producer (and sometime panelist) of Everything Compliance is Tom Fox the Voice of Compliance. He can be reached at tfox@tfoxlaw.com. Everything Compliance is a part of the Compliance Podcast Network.

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Daily Compliance News

April 8, 2021 the McConnell Backs Off edition


In today’s edition of Daily Compliance News:

  • Espionage at IKEA? (NYT)
  • Google wins big at SCt. (WSJ)
  • Former Trump cabinet members toxic to corp America? (WaPo)
  • McConnell backs off threats against corporations. (WSJ)
Categories
The Wirecard Saga

Conjunction Junction

Welcome to The Wirecard Saga. In this series, I am joined by Mikhail Reider-Gordon, Managing Director of Institutional Ethics & Integrity at Affiliated Monitors.  In this Conjunction Junction Episode, we continue our exploration of those persons, entities and governments who have been damaged, some beyond repair, by Wirecard and the nuclear fallout from its scandal. Some of the highlights include:

  • Russia Tweets About Marsalek
  • Weigand and Akhavan Convicted in U.S.
  • Tracking Pixels
  • Fuchs Says Akhavan and Marsalek Besties
  • Oliver Hargreaves Wired For Sound
  • OneCoin Connection
  • He Works Hard For the Money
  • Paolucci Key Contact
  • Top Dog Shares Run With Wirecard
  • Kurz Flies Air Firtash
  • IT Repair Guy Does Read Your Texts
  • O’Sullivan Becomes Frau Muller With EY Blessing
  • Data Overload at IC
  • Elizabeth Has A Bad Day In the Office
  • Chief Prosecutor Doesn’t Want High Penalties
Categories
Popcorn and Compliance

The Falcon and the Winter Soldier-Episode 3

In this special podcast series, One Stone Creative co-founder Megan Dougherty and Tom Fox, the Voice of Compliance indulge in their love of all things MCU by watching and discussing the Falcon and the Winter Soldier. In this episode we look at episode 3 of the series currently running on the Disney channel. Some of the highlights include:

Ø  Synopsis of the episode.

Ø  MCU cookies and other cool things.

1.     Commercial at the beginning – similar to ads in Wandavision. Is the government the biggest bad of all?
2.     Cap: “don’t even let them breathe.” Yikes. Also, is he the only unilingual superhero?
3.     Ends justify the means – theme of the episode?
4.     Zemo is the therapist now. (Strong Hannibal Lecter vibes.)

Ø  Questions for Consideration

5.     Is the Baron’s back story plausible? Just how cool is he?
6.     How did we move from social commentary to a spy/thriller show?
7.     Was Bucky simply in character at the Bar or was he under Zemo’s control again?
8.     Has Sharon Carter gone to the dark side? Is she The Power Broker?
9.     Fight at the lab.

So kick back and enjoy the MCU universe on the small screen and then check out this special series on Popcorn and Compliance.

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Cordery

Cordery Head to Head @ Home: Jessica Barker on Effective Cyber Security


In this edition of Cordery Head to Head @ Home Cordery’s Jonathan Armstrong talks to Dr. Jessica Barker.  Jess is the Co-CEO of Cygenta and an award-winning global leader in cybersecurity.  She has been named as one of the top 20 most influential women in cybersecurity in the UK and is the Chair of ClubCISO.  Jess is the author of Confident Cybersecurity:  How to Get Started in Cybersecurity and Futureproof Your Career.
They talk about how Jess first became involved in cybersecurity.  They talk about current threats including phishing and cybersecurity and the rise of criminal activity during the pandemic.  They also talk about the importance of human behavior in dealing with those threats and the need for education on current threats.  They also talk about the future of cybersecurity and how the profession might become more diverse.

You can find out more about Jess here https://www.cygenta.co.uk/jess-bio and more about her book here http://bit.ly/jessbbook
Jonathan and Jess talk about ransomware.  There is more on this here https://bit.ly/cvransom.
You can find out more about Cordery and its work here https://www.corderycompliance.com/.
You can also read about current issues in dealing with the pandemic here https://www.corderycompliance.com/category/covid19/
You can also find out more about Cordery’s experience of cybersecurity issues here https://www.corderycompliance.com/cybersecurity/
You can view more Cordery Head to Head interviews here www.bit.ly/corderytv.
 

Categories
Compliance Into the Weeds

SPACs and Compliance


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. This week Matt and Tom take a deep dive into the recent spate of SPACs which have formed and are gobbling up companies through acquisition. What does it mean from the internal control, risk management and compliance perspective?
Some of the issues we consider are:

  • What are SPACs?
  • Do SPACs render controls ineffective?
  • What are the requirements under SOX 404b for SPACs?
  • Do SPACs create an inherent conflict of interest between management and shareholders?
  • What does this mean for compliance officers? 

Resources
Matt’s blog post on Radical Compliance: 
SPACs Draw Internal Control, Governance Concerns

Categories
Daily Compliance News

April 7, 2021 the $4.7bn Hit edition


In today’s edition of Daily Compliance News:

  • Credit Suisse take $4.7bn hit. (Bloomberg)
  • Bezos backs tax increase on corporations. (BBC)
  • Corp American in bed with Dems? (NYT)
  • Guilty plea in Ecuador bribery scandal. (WSJ)
Categories
The Compliance Life

Jonathan Kellerman – Why Compliance?


The Compliance Life details the journey to and in the role of a Chief Compliance Officer. How does one come to sit in the CCO chair? What are some of the skills a CCO needs to success navigate the compliance waters in any company? What are some of the top challenges CCOs have faced and how did they meet them? These questions and many others will be explored in this new podcast series. Over four episodes each month on The Compliance Life, I visit with one current or former CCO to explore their journey to the CCO chair. This month, my guest is Jonathan Kellerman, Partner at StoneTurn and former CCO at Allergan. Kellerman grew up in a family of doctors. In college he realized he did not want to practice medicine. After college, he took a job in a consulting practice focusing on health care. There he learned about how the health care delivery model works and focused his professional work in this area ever since, moving to Coopers & Lybrand.
Resources
Jonathan Kellerman LinkedIn Profile
Jonathan Kellerman StoneTurn Profile
StoneTurn