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The Compliance Handbook

Business Ventures with Brandon Daniels


Business Ventures with Brandon Daniels
In today’s episode of The Compliance Podcast, Thomas Fox is joined by regulatory expert and technology practitioner Brandon Daniels, President of Exiger – Global Markets. Tune in to the episode as Thomas and Brandon share an interesting discussion about trending compliance risks and business ventures.
Major takeaways discussed in the episode:

  • Be reminded that third parties are essentially part of a company’s ecosystem as well. Brandon Daniels emphasizes that third parties must also use compliance practices applied to the company’s people, processes, and technology.
  • Take advantage of technological advancements, namely the ability to utilize open-source data to evaluate risk in due diligence and assessments.
  • Recognize that holistic risk assessment is necessary to search hotspots subject to multi-factor risks. Doing so will effectively mitigate them to stay ahead of both commercial disruption and regulatory enforcement.
  • Be constantly reminded to avoid the risks that wipe out the profit.
  • Companies need to be thinking ahead beyond their business relationships and creating strong mitigation practices in times of crisis to stay relevant and economically successful.
  • Amid a pandemic, there are areas of growth in the market that will demand more robust compliance and more vital ESG practices.

About Thomas Fox: 
Thomas Fox, the Compliance Evangelist®, is one of the leading writers, thinkers, and commentators on anti-bribery and anti-corruption compliance. In this latest edition of The Compliance Handbook, he continues to arm seasoned compliance professionals and those new to the realm with the practical, actionable guidance and tools needed to design, create, implement and continually enhance a best practices compliance program.
The “Nuts and Bolts” for Creating a Comprehensive Compliance Plan 
This chapter of this unique work lays out a succinct yet thorough one-month approach to operationalizing a company’s compliance regimen. Beginning with a section on what 2020 brought to the compliance landscape, each chapter methodically outlines best practices for everything from establishing policies, procedures, and internal controls, to assessing risk, training, handling investigations, and more. Each day ends with three key takeaways you can implement at little or no cost.
Understanding Compliance Responsibility Across the Organization
The Compliance Handbook also takes a close look at all professionals’ roles with compliance responsibility, from Compliance Officers and Boards of Directors to Human Resources, to Internal Audit and Internal Controls and Communications and Training professionals.
In-Depth Treatment of Hot Topics and Trends
The Handbook provides an in-depth look at the latest thinking and trends for the full range of critical compliance topics, including:
• Compliance and business ventures
• Third-party risk management
• The Board’s Role in Compliance
• Continuous improvement
• Compliance innovation
• And much more
Incorporating Current Government Pronouncements
The Second Edition incorporates the most current government pronouncements governing best practices compliance programs, including the 2019 Evaluation of Corporate Compliance Programs released by the Fraud Section of the Department of Justice, and its 2020 Update; the updated FCPA Resource Guide 2nd edition; the Framework for OFAC Compliance Commitments; and the 2019 DOJ Antitrust Division’s Evaluation of Corporate Compliance Programs in Criminal Antitrust.
Order your copy OR copies of The Compliance Handbook: A Guide to Operationalizing Your Compliance Program. Save 25% off.
http://www.lexisnexis.com/fox25

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Innovation in Compliance

Lessons About Leadership and Security with Paul Clayson

 

Paul Clayson has an interesting and eclectic career history: he went from real estate to politics – including working for two US Presidents – then to corporate finance and investing. He tells Tom Fox about his experience working as CEO of several technology companies after which he moved into consulting. He first consulted for AgilePQ, his present company, and was asked to join as CEO. Paul joins Tom to discuss the top lessons he learned as CEO, as well as security for technology in the present and future.
Timely Intervention
“…Encryption and security technology has lagged the development of computers,” Paul tells Tom. Computers are becoming smaller but existing encryption is too large to fit on these small devices. As a result, very few IoT devices have security on them. Paul feels strongly that it’s time to “catch up”.
Leadership Lessons for CEOs
Tom asks Paul to share his top leadership lessons as CEO. Paul says: 

  1. The CEO has more bosses than any other position in the company;
  2. Your job as CEO is to get the best people and then create the environment for them to perform at their best;
  3. Be transparent about everything;
  4. He lives by two principles. Firstly, make gut decisions after finding all the data to support it; and secondly, it makes no sense doing those things well that you shouldn’t be doing at all.

He explains that the difference between the board of directors and the CEO is oversight and fiduciary responsibility versus operation and execution.
Security for the Present and Future
Tom and Paul discuss Paul’s role at AgilePQ and the company’s prospects. “This product is needed; it’s just needed,” Paul emphasizes. He outlines the markets they are targeting, which even includes their competitors. “They don’t really have a full security system that can operate on the smallest of IoT devices,” he points out. “We have that so we can join with them, license to them our technology.” He tells Tom that their software not only protects the present but is ready for future technology as well. “We built [our software] not only to protect the IoT devices, but we built it so that when quantum computers become a reality – they will be able to process so much data so quickly they can break many of the encryption systems that are in the marketplace today –  we built our technology to be post-quantum secure.”
“What do board members, CEOs, and companies need to be thinking about for 2025 or perhaps even further, around security and encryption?” Tom asks. “People have to recognize that hackers and bad actors in the digital world are multiplying faster in many cases than the development of technology itself,” Paul responds. “Businesses today really need to be focusing on security at every level of the computing stack … and they need to concentrate on multiple levels of security within each of those systems. He advises that security should be considered in the planning stage, not after you’ve already developed a product. “You need to think about it upfront and plan it as part of the operational aspect of the device… that you’re building,” he comments.
Resources
Paul Clayson on LinkedIn 
AgilePQ.com 
Call Paul Clayson at (336)380-2800
 

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Daily Compliance News

April 6, 2021 the Tech and RRs edition


In today’s edition of Daily Compliance News:

  • Whistleblower reports down. (WSJ)
  • Frantic response to voter suppression law. (NYT)
  • CFPB to pan foreclosures through 2022? (NYT)
  • Justice Thomas says tech platforms are akin to common carriers. (com)
Categories
ComTech

Getting the Data to Work for You with Jonathon Kellerman


Jonathon Kellerman, now a partner at StoneTurn, loves data analytics. He spent 20 years at PWC, his last post there being Chief Compliance Officer. His role as CCO focused on compliance and risk management and corporate governance. He joins Valerie Charles and Tom Fox to share how he “built out the industry’s leading consulting practice focused on helping those global companies with their most complex compliance challenges… where I got to focus on things like data and technology and leveraging technology to have a much more productive and value-added compliance program.” Jonathon describes the role of data analytics in becoming more predictive about risk, and how it is changing the compliance industry for the better.
A New Vision of Compliance
“We have access to this tremendous amount of data; how do we get that data to work for us?” Jonathon asks. His vision for a new kind of compliance program was “using data and data analytics to help us be more predictive about risk and to give us more real-time insights …that would help us …prevent incidents from occurring as opposed to always putting out fires.” With his team of talented experts, he was able to realize his vision. The cutting-edge platform they developed pulled data from across the organization into a centralized hub. They could then analyze the data to discover outliers and trends. “The beauty of it is we could pull the levers that would allow us to look at risk in many different ways,” he tells Valerie and Tom.
Compliance Demonstrating its Value
Valerie asks Jonathon how a company could get started. There’s no one size fits all solution, he responds. First, understand the data that’s available to you, your risk profile, and what you want to achieve. Then, figure out what risk factors you want to apply across the data. Keep your framework simple, he advises compliance leaders. Next, assemble a team to build your platform. Valerie comments that a benefit of this approach “is being able to demonstrate the value of the work that we do… [It] allows you to… become noted because of the ways that you can show that you’ve kept the train on the track… It elevates our profession.” Jonathon agrees and explains how compliance contributes to the overall effectiveness and efficiency of the business.
Assuring Data Quality Worldwide
Tom asks Jonathon how he assures data quality across the globe in multinational companies. Jonathon responds that it starts with cataloging all your data sources and systems and then standardizing the data. “If you can standardize the data that you’re bringing in from different systems or different sources, then you’re able to significantly increase the data quality and your confidence in the completeness and accuracy of that data,” he points out.
The Future of Compliance
He joined StoneTurn because he wants to “leave a mark on the compliance profession going forward and… advance the compliance profession…”, Jonathon tells Valerie. StoneTurn offers just that as they’re focused on innovation and advancing compliance as a profession. He and Valerie agree that the next few years will be game-changing for the compliance industry. “There is a window of opportunity for compliance to redefine itself and its value,” Jonathan argues. Using data analytics to provide real-time business insights and to improve operational efficiency are the keys to the future of compliance, he predicts. “If they can do those two things well,” Jonathon concludes, “they’re going to add a tremendous amount of value into their businesses and really help those businesses achieve their objectives.”
Resources
Jonathon Kellerman at StoneTurn | LinkedIn
StoneTurn.com

Categories
FCPA Compliance Report

Erica Salmon Byrne on Ethisphere’s 2021 WME


In this Episode of the FCPA Compliance Report, I am joined by Erica Salmon Byrne, EVP at Ethisphere. We take a deep dive into Ethisphere’s 2021 WME report and white papers on the award-winning best practices in global compliance program management, 3rd party risk management and training and communication. Highlights of this podcast include:

    • What was the Ethics Premium for 2021?
  • What are the numbers?
  • What are the best practices around remotely managing an effective global program effectively?
  • What are the best practices around third-party risk management in 2021?
  • What are the best practices around training and communications in the era of Covid-19?
  • Why should you plan to attend Ethisphere’s 2021 Global Ethics Summit?

Resources
 Erica Salmon Byrne LinkedIn Profile
Ethisphere
2021 WME Awards
Leading Practices-Remotely Managing an Effective Global Program Effectively
Leading Practices-3rd Party Risk Management
Leading Practices-Training and Communications
Ethisphere 2021 Global Ethics Summit, registration and information here. Use Code tomfox15 for 15% discount.

Categories
Daily Compliance News

April 5, 2021 the Pee in a Bottle edition


In today’s edition of Daily Compliance News:

  • Amazon admits drivers have to pee in bottles. (BBC)
  • 1MDB provides example of what not to do for SWFs. (FT)
  • Do clothing mfgs have spines? (FT)
  • Of workers and lab rats. (FT)
Categories
Sunday Book Review

April 4, 2021, the Open Day Edition


In today’s edition of Sunday Book Review:

Categories
Popcorn and Compliance

The Falcon and the Winter Soldier-Episode 1&2


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 episodes 1 & 2 of the series currently running on the Disney channel. Some of the highlights include:

  • Synopsis of each episode.
  • MCU cookies and other cool things.
  • The awesome action sequences.
  • Do Superheroes need a job?
  • What is therapy?
  • Racism and human experiments.

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

Categories
Daily Compliance News

April 3, 2021 the Fishrot edition


In today’s edition of Daily Compliance News:

  • FinCen reshuffles leadership. (WSJ)
  • MLB moves ASG over voter suppression laws. (WSJ)
  • Texas companies push back against Texas voter suppression law. (NYT)
  • Fishrot rears its head again in Namibia. (AlJazerra)
Categories
This Week in FCPA

Episode 246, week ending April 2, 2021 – the GWICies edition


As the Great Women in Compliance podcast series hits its 100 anniversary, the first annual #GWICies are awarded. 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.
Stories

  1. Tom takes a deep dive into Ethisphere’s WME awards and reports. Part 1-WME awards. Part 2-managing a global workforce. Part 3-managing third-party risks. Part 4-communications and training.
  2. What is the price of nice? Mary Shirley explores in CCI.
  3. Criminalization of sports corruption. Ubong Udoeyo in GAB.
  4. Are you FARA compliant? Jonathan Marks in Board and Fraud.
  5. James Comey channels Bette Davis (and Jim Deloach). Aly McDevitt in Compliance Week. (sub req’d)
  6. How to prevent money-laundering. Alia Noor in XpertsLeague.
  7. Where to start with ESG reporting. MaryAnn Rains in Risk and Compliance Matters.
  8. Should compliance have outside competition? Dick Cassin opines in the FCPA Blog.
  9. Are you curious? (Not in a blue or yellow way) Joe Murphy channels Tim Harford in LinkedIn.
  10. Are you tone deaf from the top. Jon May in LinkedIn. 

Podcasts and Events

  1. The Great Women in Compliance has its 100th anniversary edition. Mary and Lisa reflect back on their journey. Join us in congratulating them. Listen in on the Compliance Podcast Network.
  2. MoFo joins the Compliance Podcast Network. Check out this week’s episode where Morrison & Foerster partner James Koukios speaks with fellow partner Brandon Van Grack about what to expect in the National Security space under the new Biden Administration.
  3. Coffee & Regs joins the Compliance Podcast Network. In this episode, host Natalie Silverman, former Chief Compliance Officers Matt Calabro and Allison Fraser sit down to discuss public pension fund independent compliance reviews.
  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. 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.