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FCPA Compliance Report

Special 500th Anniversary Episode


The FCPA Compliance Report is the longest running podcast in compliance. Today, I am extraordinarily honored to post my 500th Anniversary podcast. Today, I switch seats to be the guest as I am interviewed by Gregg Greenberg, the General Manager of CSuite Radio. We take a look back at some of the key trends, I have seen in compliance over the past 10 years, the top episodes, my favorite guests, the Liverpool Football Club, buffalo wings and much more.
Some of the highlights include:

  1. The biggest changes seen in compliance over the past 10 years.
  2. When, why and how did the FCPA Compliance Report begin?
  3. What are of my favorite episodes and some of my top guests? By the number and by guests.
  4. What I have learned in this journey?
  5. As The Voice of Compliance; why I am so passionate about podcasting as a communication tool.
  6. If you are an LFC fan, why you will walk alone.
  7. What makes the perfect buffalo wing?

Check out the Lead Up Podcast Series
If you are interested in my podcast series from 5 top commentators on their reflections on the evolution of compliance over the past 10 years, check out the following:

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Sunday Book Review

August 30, 2020, the Great Essayists edition


In today’s edition of Sunday Book Review:

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Daily Compliance News

August 29, 2020-the HerbalLife Settles edition


In today’s edition of Daily Compliance News:

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31 Days to More Effective Compliance Programs

Twenty questions directors should ask about its Compliance Committee


In an area of inquiry entitled Oversight, the 2020 Update asks three basic questions which we have explored throughout this chapter:

  1. What compliance expertise has been available on the Board of Directors?
  2. Have the Board of Directors held executive or private sessions with the compliance function?
  3. What types of information has the Board of Directors examined in their exercise of oversight in the area in which the misconduct occurred?

To facilitate the answers to these questions, consider this list of 20 questions to reflect the oversight role of directors. These are questions the Board should ask of both senior management and the Board should ask itself. The questions are not intended to be an exact checklist, but rather a way to provide insight and stimulate discussion on the topic of compliance. The questions provide directors with a basis for critically assessing the answers they get and digging deeper as necessary. Although the questions apply to most medium to large organizations, the answers will vary according to the size, complexity and sophistication of each individual organization.
Three key takeaways:

  1. The DOJ Evaluation requires active Board of Director engagement around compliance.
  2. Board communication on compliance is a two-way street; both inbound and outbound.
  3. Has the Board built an effective Compliance Committee for itself?
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The Affiliated Monitors Expert Podcast

The Expansion of Independent Monitors


In this episode, I visit with Vin DiCianni, Chief Executive Officer (CEO) and founder of Affiliated Monitors, Inc. (AMI), We discuss how the use of independent monitors has expanded. DiCianni noted that the use of independent monitors has greatly expanded over the life of AMI. This expansion has been at all levels of domestic government: in the federal sector, in the state arena and down to the municipal level. It has also expanded into the international sphere as well as the private sector. The DOJ began using monitors in the early 2000s around money-laundering prosecutions. Independent monitors were used by a wide variety of other federal agencies, from the Department of Transportation to the Department of Defense.

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This Week in FCPA

Episode 220 – the I Like to Watch edition


As we move to our first non-PG podcast and channel our inner Chauncy Gardner with signature line, “I like to watch”, Tom and Jay continue to brave the surge in Covid cases by staying safe at home. They are back to look at top compliance articles and stories which caught their eye this week.

  1. What is monitoring and oversight? Matt Kelly draws compliance inspiration from Jerry Falwell who (allegedly) likes to watch his wife having sex with another man. In Radical Compliance.
  2. What is risk-based due diligence? Financial regulators opine. Mengqi Sun in the WSJ Risk and Compliance Journal.
  3. Bank/government partnership to fight financial crime. Dylan Tokar in WSJ Risk and Compliance Journal.
  4. Why fraud matters, the Steve Bannon indictment. Mike Volkov in Crime Corruption and Compliance.
  5. Why does the Palantir S-1 appear to be like the children of Lake Wobegon — stronger, better-looking, and above average? Francine McKenna explains on The Dig. Lucenda Shen sees a flag-waving, in Term Sheet.
  6. How bad was the sexual harassment on the Washington Football Club? Very Bad. Expose in the Washington Post.
  7. Are we losing the war on AML? Martin Woods says yes. In Compliance Week (sub red’d)
  8. More on McDonald’s suit against its former CEO? Fenwick West lawyers in the Harvard Law School Forum on Corp Governance.
  9. This month on The Compliance Life, I am joined by Louis Sapirman. In Part 1, we looked at Louis personal and professional journey into compliance. In Part 2, we discussed the qualities of a successful CCO. In Part 3, communication as a driver of compliance. In this month’s final episode Part 4, Sapirman takes a look at the CCO role down the road.
  10. On Compliance and Coronavirus we had a week of Exiger. Tuesday had Brandon Daniels on Data Management and Data Security Moving out of Covid-19, Michael Beber on on M&A, IPOs and SPACs During and After Covid-19; and Anna Osborn on managed services and outsourced compliance.
  11. On the Compliance Podcast Network, on 31 Days to a More Effective Compliance Program, this month focuses on the role of the Board in compliance. This week saw the following offerings: Monday– BOD and succession planning; Tuesday-incorporating compliance strategy into long-term BOD planning; Wednesday-areas of BOD inquiry into compliance; Thursday– special guest Vin DiCianni on 3 specific BOD inquiries on compliance; and Friday-20 questions. The month of August is being sponsored by Affiliated Monitors. Note 31 Days to a More Effective Compliance Program now has its own iTunes channel. If you want to binge out and listen to only these episodes, click here.  Please join us in September where I take a deep dive into Internal Controls.
  12. Join Jay and Tom at Converge20. Convercent’s top compliance conference is going virtual this year. Check at the agenda and register here.
  13. There’s a place where True Crime meets Compliance, and its name is Fraud Eats Strategy. Check out this new show by Scott Moritz of FTI consulting, and catch all the episodes, notes, resources and more on the Compliance Podcast Network! We’d love to hear what you think of the show, and we’d love it even more if you shared it with a friend, colleague or that one guy you think might be a secret oligarch. Check out this great new podcast series here.
  14. This week on the FCPA Compliance Report, some of the top commentators in compliance have joined Tom to discuss some of the top developments in compliance over the past 10 years. The schedule for this week is as follows:

It is all leading up to the 500th anniversary episode which will run Monday, August 31. 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

August 28, 2020-the $900 MM edition


In today’s edition of Daily Compliance News:

  • Don’t piss of the NY Theater District. (NYT)
  • TikTok comes to Bubba or Bubba to TikTok? (WSJ)
  • What’s $900MM among creditors? (FT)
  • Going contra on college football. (WaPo)
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Compliance and Coronavirus

Anna Osborn on Managed Services and Outsourced Compliance


Welcome to the newest addition to the Compliance Podcast Network, Compliance and Coronavirus. As the Voice of Compliance, I wanted to start a podcast which will help to bring both clarity and sanity to the compliance practitioner and compliance profession during this worldwide health and healthcare crisis. In this episode, I visit with Anna Osborn is Senior Vice President of Growth and Marketing at Exiger. She discusses cultivating collaborative working environments and building process into an organization’s compliance relationship management activities, during the era of Covid-19.
Some of the topics include:

  • What are the top 3 challenges you are as we move into Q3 and Q4 of this year?
  • Do you anticipate they will change in 2021?
  • How can senior management create a narrative around these changes?
  • What is the future of managed services?
  • How can a CCO ‘spread the peanut butter too thin?”
  • What is the role you see for outsourced compliance?

Resources
For more information, check out Exiger’s website here.

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Daily Compliance News

August 27, 2020-the It Just Gets Worse edition


In today’s edition of Daily Compliance News:

  • It just gets worse with McDonald’s and Easterbrook.
  • TMZ had toxic workplace? Shocked, just shocked.
  • Laura a CAT 4 be safe out there.
  • SEC votes for less corp disclosure.
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31 Days to More Effective Compliance Programs

Areas of Board inquiry into compliance


A white paper by Deloitte & Touche LLP, entitled “Risk Intelligence Governance – A Practical Guide for Boards”, laid out six general principles to help guide Boards in the area of risk governance. These six areas can be summarized as follows:

  • Define the Board’s role. There must be a mutual understanding between the Board, CEO and senior management of the Board’s responsibilities.
  • Foster a culture of risk management. All stakeholders should understand the risks involved and manage such risks accordingly.
  • Incorporate risk management directly into a strategy. Oversee the design and implementation of risk evaluation and analysis.
  • Help define the company’s appetite for risk. All stakeholders need to understand the company’s appetite or lack thereof for risk.
  • How to execute the risk management process. Maintain an approach that is continually monitored and has continuing accountability.
  • How to benchmark and evaluate the process. Systems need to be installed which allow for evaluation and modifying the risk management process as more information becomes available or facts or assumptions change.

All of these factors can be easily adapted to compliance and ethics risk management oversight. Initially it must be important that the Board receive direct access to such information on a company’s policies on this issue.
Three key takeaways:

  1. The Board’s role is to keep really bad things from happening to a company.
  2. There are six general areas the point can inquire into and lead from.
  3. A Board should have direct access to information on the company’s compliance program.