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This Week in FCPA

Episode 233– the Vaccine is Here edition


As Joe Biden is formally elected President by the Electoral College and the Covid-19 vaccine arrives in spite of blunders by the Trump Administration; Tom and Jay are back to look at some of the top compliance articles and stories which caught their eye this week.

  1. The Good, the Bad and the Missing. Dick Cassin with his three top stories in 2020 on the FCPA Blog.
  2. Are you ready for the EU Whistleblower Directive? Cédric Dubar considers in the FCPA Blog.
  3. Using data analytics for the BOD and still satisfying the regulators. 6 CCOs opine in Compliance Week (sub req’d)
  4. What are 7 principles of ethical leadership? Yonason Goldson in CCI.
  5. Leadership failures around sexual harassment at Ft. Hood. Matt Kelly on Radical Compliance. Tom and Matt take gut-wrenching deep dive on Compliance into the Weeds, with special guest Diane St. Ives, who relates her experiences from 40 years ago.
  6. The SEC and SARs. Thomas Gorman on SEC Enforcement
  7. Congress approves new AML law. Jack Hagel in the WSJ Risk & Compliance Journal.
  8. Ephemeral messaging. Debevoise and Plimpton Data Blog.
  9. A new month is here and a new guest on The Compliance Life. Kim Yapchai, Chief Counsel – Environmental, Social & Governance at Tenneco Inc. In this week’s third episode, Kim moves into the CCO chair. Check out the episode here. Check out the full series here.
  10. My podcast with Mikhail Reider-Gordon on Wirecard was so popular we spun it out into its own series, The Wirecard Saga. Check out the latest episode, Who Watches the Watchers.
  11. On 31 Days to a More Effective Compliance Program, we consider Training and Communications. Monday, Communication through persuasion; Tuesday– Multiplying the influence of compliance; Wednesday– Communicating Across Cultural Boundaries; Thursday– Asking questions to boost your compliance program; Friday– Twitter and 360-degrees of communication. Note 31 Days to a More Effective Compliance Program now has its own iTunes channel.
  12. Interested in podcasting? Find out the top trends with this replay of Tom and Megan Dougherty of One Stone Creative in their webinar on the State of Podcasting 2020. Listen to the full webinar here. Want some pointers on designing and starting a podcast, check out this great new report from Megan Dougherty, co-founder of my producing team at One Stone Creative, The State of Business Podcasts, 2020.

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

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Daily Compliance News

December 18, 2020-Credit Suisse Charged edition


In today’s edition of Daily Compliance News:

  • Robinhood Financial pays $65MM to settle with SEC. (NYT)
  • Sacklers deny any responsibility. (NYT)
  • If the Russians can crash the gov who is safe? (WaPo)
  • Credit Suisse change in money-laundering scheme. (FT)
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Life with GDPR

Reduction to GDPR Fines by EU Courts


In this episode Jonathan Armstrong and Tom Fox are back to discuss issues relating to data privacy, data protection and GDPR. Today, we consider EU courts reducing fines and penalties assessed by data protection regulators. The case reminds us that, as we said before, data protection authorities are likely to face challenges to high fines in the courts. In some respects, the fine mechanism in GDPR is based on the system in use in competition law cases where the success rate in appeals has been high. Some of the highlights are:

  1. Background to several cases.
  2. What did the court say?
  3. What did the regulators say?
  4. What are the lessons learned for the data protection/data privacy compliance specialist?
  5. What steps can your organization take?

Resources
Check out the Cordery Compliance, client alert on this topic, click here. For more information on Cordery Compliance, go their website here. Also check out the GDPR Navigator, one of the top resources for GDPR Compliance by clicking here.

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Everything Compliance

Episode 71 – the Year End Review Edition


Welcome to the only roundtable podcast in compliance. Today, we have the full quintet of Jonathan Armstrong, Jay Rosen, Jonathan Marks, Matt Kelly and Mike Volkov for a deep dive into plethora of topics in this special year end review edition. We end with a veritable mélange of rants and shouts outs.

  1. Jonathan Armstrong joins us from London to detail some of the most instructive GDPR cases decided in 2020. Armstrong shouts out to Father Christmas and reminds every one of the Covid-19 danger he faces this year and asked you leave out some hand sanitizer instead of cookies.
  1. Jay Rosen asks, ‘where have all the monitors gone’? Jay rants about how the phrase “take off your mask” has become a tool of sexual harassment.
  1. Matt Kelly considers three key events from 2020 and what they all mean for the compliance professional. The Pandemic, discrimination and social justice, and the election. Matt rants about the GOP members who refuse to accept the results of the election and Electoral College.
  1. Mike Volkov looks at FCPA enforcement in 2020 in general and the Goldman Sachs enforcement action specifically. Volkov shouts out to the 48 states Attorney Generals and the FTC for filing suit against Facebook and rants about former Goldman exec Gary Cohen not agreeing to the 1MDB clawback.
  1. Jonathan Marks looks at the increase of books and records enforcement action under the FCPA Accounting Provisions which can be the basis of a SEC violation where there the actions are neither foreign nor corrupt. In a very Philadelphia shout out/rant (at the same time), Marks delineates the Eagles benching of Carson Wentz.
  1. Tom Fox gives a bittersweet shout out David Prowse who recently died. Prowse was the first actor to play Darth Vader albeit voiced by James Earl Jones. 

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

December 17, 2020-Luckin Coffee not Lucky edition


In today’s edition of Daily Compliance News:

  • Google sued by states for anti-competitive behavior. (NYT)
  • Holmes wants Theranos documents hidden. (WSJ)
  • Tyson’s fires plant mgr’s who bought on which employees would contract Covid-19. (WSJ)
  • Luckin Coffee pays $180MM for accounting fraud. (WSJ)
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The Affiliated Monitors Expert Podcast

Considerations When Hiring a Monitor


In this podcast, I am joined in this podcast series by Jay Rosen, the Vice President of Business Development and Monitoring Specialist at Affiliated Monitors, Inc. Today, we look at considerations when hiring a monitor.
Some of the highlights from this podcast include:

  1. Considering the type and style of the monitor in your selection process.
  2. What is the expertise of the monitor, not simply in the subject matter but concluding monitorships?
  3. Balancing the interests of the regulator, the company and other stakeholders.
  4. Making sure that the monitor is bringing value to the company.
  5. Why a Monitor must be independent and conflict-free.

I hope you will join us tomorrow for Part 5, where we discuss the issue of costs when retaining a monitor.
For additional reading see Jay Rosen’s article What Issues Should a Company Consider When Hiring a Corporate Monitor? on Corporate Compliance Insights.
For more information on Affiliated Monitors, Inc. visit their website here.

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The Wirecard Saga

Who Watches the Watchers?


Welcome to the latest edition to the Compliance Podcast Network, The Wirecard Saga. In this series, I am joined by Mikhail Reider-Gordon, Managing Director of Institutional Ethics & Integrity at Affiliated Monitors.  In this episode, we take a deep dive into the conflicts of interest by German regulators who were investing in Wirecard while (allegedly) regulating it, EY clams up, whistleblowers and investigating crimes or not; all in the Who Watches the Watchers edition.
Some of the highlights include:

  • Current events;
  • Head of APAS invests in Wirecard and the Investigative Committee is Astonished;
  • What is a Conflict of Interest after all and does hindsight affords clear vision?
  • EY is certainly economical with the truth;
  • Germany’s two-tier system, drowning in risk pools and regulators don’t read;
  • Whistleblowers galore (but not enough for the 12 Days of Christmas);
  • BaFin-detecting crime is not our remit; and
  • What were all the missed opportunities.
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Compliance and Coronavirus

Kevin Foster on the Importance of Values Based Ethics During COVID-19


Welcome to the one of the newest additions to the Compliance Podcast Network, Compliance and Coronavirus. In this episode, I am joined by Kevin Foster, founder of Business Ethics Advisors. Foster discusses how he lost his ethical way and eventually went to prison over some real estate transactions. In prison he vowed to help educate the white-collar professional on how to avoid stepping over the ethical line by teaching values based ethics and how to know when to walk away.

  • What led to your ethical crisis and eventually prison?
  • What led you to found BEA?
  • What is the Ethics Toolkit of BEA?
  • Why is ethical leadership even more important in the Covid-19 world?
  • Why do you say that for a white-collar professional, what you don’t know can hurt you?

Resources
Business Ethics Advisors
Kevin Foster on LinkedIn

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Great Women in Compliance

Mary Shirley, Original GWIC


Welcome to the Great Women in Compliance Podcast, co-hosted by Lisa Fine and Mary Shirley.
There is a lot to reflect on as we end 2020, and with all of the challenges of the year, it has been a landmark one for the Great Women in Compliance podcast and now the book. When reflecting on the final podcast for 2020, Lisa wanted to do something to commemorate this – and realized that she had never interviewed the person who she sees as the original GWIC, Mary. So, here is a discussion with Mary about things that are important to her, starting with her experience in 2020 both personally and professionally.
Mary has started a new role at Fresenius – Head of Culture of Integrity and Compliance Education, and she talks about what this means to her and her goals and objectives for this new opportunity, and her 2021 planning and whether it was impacted by the events of 2020.
Lastly, for anyone who knows Mary, she likes to be prepared for everything. So Lisa decided to turn that on its head and give her what they called a “lightning round” where Mary had no idea what questions Lisa would be asking and called for quick answers.
We hope you enjoy this last episode of 2020 and GWIC will be back in 2021.
Have you heard that the Great Women in Compliance Book, Sending the Elevator down is now available in an electronic version? Head to Amazon to get your copy today!
If you’ve already read the booked and liked it, will you help out other women to make the decision to leverage off the tips and advice given by rating the book and giving it a glowing review on Amazon?
As always we’re so grateful for all of your support and if you have any feedback or suggestions for our 2021 line up, or would just like to reach out and say hello, we always welcome hearing from our listeners.
Join the Great Women in Compliance community on LinkedIn here.

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Compliance Into the Weeds

Leadership Failures at Ft. Hood, with Special Guest Diane St. Ives


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. Today we take on a much more somber topic and set of facts in this, our 201st episode. We have our first guest, Diane St. Ives, a retired US Army officer now practicing law in Houston. Diane is also a Director of the State Bar of Texas.
Matt, Tom and Diane consider the recent US Special Commission Report on leadership and culture failures in the areas of sexual harassment and assault which have occurred at Ft. Hood. These issues were brought to a head with the sexual assault and brutal murder of Specialist Vanessa Guillén, who disappeared on April 22. She was murdered by a fellow soldier, who killed himself in June when he escaped Army investigators taking him into custody.
Some of the issues we consider are:

  • What were and are the continuing failures of leadership at Ft. Hood in these areas?
  • Why is the SHARP program simply window dressing?
  • What will it take to make a change?
  • Our Guest Diane St. Ives relates her personal experience of being sexually harassed over 40 years ago while a Private at Ft. Hood. She talks about the retaliation she received for reporting the crime and how it all still affects her today.
  • What can be some of the solutions for this situation and how can compliance principles help turn around a continuing culture of misogyny in the Army.

Resources
For more information see Matt’s blog post in Radical Compliance:
Leadership Failures at Ft. Hood