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This Week in FCPA

Episode 219 – the Failure to Prevent edition


As the Trump Administration backtracks from its avowed goal to destroy the USPS, Tom and Jay 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.     First DOJ Opinion Release in 6 years. What is the significance? Tom explains it all in the FCPA Compliance and Ethics Blog.

2.     FCPA enforcement action involving international adoptions. Harry Cassin in the FCPA Blog.

3.     Bank/government partnership to fight financial crime.  Dylan Tokar in WSJ Risk and Compliance Journal.
4.     Once a cheater, always a cheater? Daimler pays $2bn fine. Aaron Nicodemus in Compliance Week(sub req’d)
5.     At the one year anniversary of the Business Roundtable’s Statement on the Purpose of a Corporation, Mike Volkov reviews Board performance in a 4-part series on Corruption, Crime and Compliance. Part 1, Accountability. Part 2, diversity. Part 3, challenges for Board decision-making.  Part 4, steps to advance corp governance.
6.     Is ‘Failure to Prevent’ the next big crime in the UK? Cordery Compliance alert.
7.     When can you use a corruption defense in litigation?  VE lawyers in the State Bar of Texas Int’l Law Journal.
8.     Does the McDonald’s suit against its former CEO implicate D&O coverage? Kevin LaCroix opines in the D&O Diary.
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 this week’s Part 3, communication as a driver of compliance.
10.  On Compliance and Coronavirus we had a week of AMI. Tuesday had Eric Feldman discussing culture and compliance during Covid-19, Vin DiCianni on using compliance ambassadors during Covid; and Deb Waugh on challenges in the health care profession.
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-what leads to a successful BOD investigation; Tuesday– Board metrics for compliance;Wednesday-BOD failures with special guest Vin Dicianni; Thursday– BOD & doing business in China; and Friday-the Board’s role in hiring. 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.
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.  Join Tom and Vince Walden (host of The Walden Pond) for a webinar on the ROI of Compliance, Tuesday August 25, 10 AM CT. Registration and Information here.
14.  Join Tom and AMI’s Don Stern for a review of the 2020 Update to the Evaluation of Corporate Compliance Programs as a part of Navex Global’s quarterly MasterClass on Thursday, August 27. Information and registration here.
15.  Join K2 Intelligence FIN’s Bernard Factor for a webinar entitled “Examining the Nuances of Correspondent Banking to Address BSA/AML Compliance Risk”. Registation and Information here.
16.  Join Tom next week on the FCPA Compliance Report, as he leads up to the 500th episode. All next week some of the top commentators in compliance will join Tom to discuss some of the top developments in compliance over the past 8 year. 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 21, 2020-the Wirecard Dropped edition


In today’s edition of Daily Compliance News:

  • Trump Administration to continue to gut Post Office after election. (WaPo)
  • How it all went wrong for Kodak. (WSJ)
  • Another Trumper arrested. (WSJ)
  • Dax drops Wirecard. (WaPo)
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Innovation in Compliance

A Conversation with Skillsoft and StoneTurn: Part 4 – John Arendes on Assessing Your Risks


Welcome to a special five-part podcast series, A Conversation with Skillsoft and StoneTurn: From the Code of Conduct to Risk Assessment to Continuous Improvement. This week’s podcast series is jointly sponsored by Skillsoft and StoneTurn Group, LLP. In this podcast series we will explore the recently released 2020 Update to the Department of Justice’s (DOJ) Evaluation of Corporate Compliance Programs (2020 Update). We focus on your Code of Conduct and how it is informed by your Risk Assessment, training on your Code of Conduct, performing a Risk Assessment and conclude with how all this ties to continuous monitoring and continuous improvement. Participants in this podcast series include: from Skillsoft, Charlie Voelker, Director, Compliance Products; John Arendes, Vice President and GM of Global Compliance Solutions; from StoneTurn, Toby Ralston, Managing Director, Jamen Tyler, Managing Director and Stephen Martin, Partner. In this fourth episode, I visit with Arendes on assessing your risks and using that process to then manage those risks.
The two recent releases of information in the form of the 2020 Update and FCPA Resource Guide, 2nd edition, make clear that companies must assess their risk and manage their risk. Years ago, there was this idea of one size fits all for compliance programs. The government’s thinking on this began moving towards taking into account a number of different risk variables that impact those businesses and what exposes them to areas of risk. This has led to the current environment where it is clear that one size does not fit all. Arendes said you should begin with the precept “to understand what the goal is of that risk assessment. What are you trying to get out of it? Is it a holistic view? Is it a specific area of risk or are there areas of data risks that we want to look at? The bottom line is to understand what’s your goal of the risk assessment.” Arendes also said an independent perspective should be sought. Using outside firms, having someone come in with an objective view is certainly an important part of your risk assessment.
Webinar
If you enjoyed today’s podcast, I want to let you know about an upcoming webinar Skillsoft and StoneTurn are hosting. The webinar “Evolving Your Compliance Program” will be held on Wednesday Sept 23 and will explore how companies are leveraging data and information to improve and evolve their compliance programs. Information and Registration click here.
Resources
For more information on Skillsoft’s compliance offerings, click here.
For more information on the Skillsoft/StoneTurn partnership, click here.
For more information on StoneTurn, click here.

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Compliance and Coronavirus

Compliance and Coronavirus-Brandon Daniels on Data Management and Data Security Moving out of Covid-19

Welcome to Exiger week on 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 Brandon Daniels is the President of Global Markets. A regulatory expert and technology practitioner, Daniels brings more than 15 years in senior management across the financial services, life sciences and energy sectors. He is a leader in technological innovation in regulatory investigations and compliance management.
Some of the topics include:

  • How security and US national security will play a bigger role moving out of Coivd-19.
  • What will be some of the biggest changes in 2021?
  • What will be the role of a CCO in this increased era of corporate security?
  • Why the management of data will be so critical going forward?
  • Why Supply Chain will be a critical area moving forward?

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

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Compliance and Coronavirus

Deb Waugh on Challenges for the Health Care Professional


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 Deb Waugh Director of Assessment Services for AMI. Deb oversees the evaluation, monitoring and education of healthcare professionals whose patient care documentation/care is not consistent with current guidelines and regulations.
Some of the topics include:

  • What are the top 3 challenges of health care professionals you are working with as we move into Q3 and Q4 of this year?
  • Do you anticipate they will change in 2021?
  • How have these challenges impacted your oversight and monitorship work?
  • Increased compassion for the issues faced by clients
  • Death from Covid-19 is real, you cannot let your guard down.
  • Always maintain compassion for yourself, your patients or clients. Patience. Keep the baseline work of addressing their monitoring requirements as a priority.

Resources

  • Continuing education is beginning to offer courses to help navigate the professional challenges of Covid-19.
  • Some healthcare providers physicians may have a state-based program, peer assistance program – call your state association to find out.
  • CDC – https://www.cdc.gov/coronavirus/2019-ncov/hcp/mental-health-healthcare.html
  • Mental Health America – https://www.mhanational.org/ Has good considerations to keep in mind to take care of yourself.
  • For more information on Affiliated Monitors, Inc. check out their website here.
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12 O’Clock High-a podcast on business leadership

Tom Pilotti on Leaders as Communications Artists


Richard Lummis is on assignment this week so I am pleased to host Tom Pilotti. Tom is a world-renowned trainer of professional sales teams. In this episode, he explains his sales training process and how leaders can benefit from not simply an understanding of how to sell and market but how those skills are needed by successful leaders.
Some of the highlights include:

  • Why is sales training so critical for business leaders?
  • Why do most business leaders get sales so wrong?
  • How can you sell during the era of Covid-19?
  • Why is great leadership even more important now?

Resources 
To find out more about Tom Pilotti, check out his website by clicking here.

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Daily Compliance News

August 20, 2020-the Screen for Whistleblowers edition

In today’s edition of Daily Compliance News:

  • BA to screen for potential whistleblowers in their hiring process. (TheMirror)
  • China v. academic freedom. (WSJ)
  • Air BnB files with SEC for IPO. (WSJ)
  • NBC Universal head out after 10-year affair becomes public. (WaPo)
Categories
FCPA Compliance Report Wirecard

Wirecard and Fraud


In the Episode, I am joined by Mikhail Reider-Gordon, Managing Director of Institutional Ethics & Integrity at Affiliated Monitors.  Mikhail’s areas of expertise include technology, privacy, cybersecurity, IP and accountability in artificial intelligence; the global anti-corruption and anti-money laundering regimes; media & entertainment; biotech and the life sciences; the public sector and international law.  She is accustomed to working on extremely sensitive and high-profile matters, both nationally and internationally. In this episode, we continue our multipart series on the Wirecard accounting fraud. Today, we take up the issue of fraud in the Wirecard saga.
Some of the highlights include:

  • Did Wirecard ever make money?
  • Was Wirecard even designed to make money?
  • Was it simply a Ponzi scheme??
  • Why BCCI and not Enron was Wirecard’s role model?
  • How could BaFin employees oversee Wirecard while investing in it? (Ans: they couldn’t)
  • What is Round-Tripping fraud and how did Wirecard master it?
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The Affiliated Monitors Expert Podcast

The Early Days of AMI


In this episode, I welcome back Vin DiCianni, Chief Executive Officer (CEO) and founder of AMI. We discuss the early days of AMI. DiCianni drew as inspiration for AMI, a number of special Commissions that were created by New York City to address improprieties by construction contractors in building public schools in New York City. Out of those Commissions arose the concept of Independent Private Sector Inspector General (IPSIG) and the model was to bring accounting, legal, and engineering skills into the oversight of construction contractors who were about to lose a contract because of some type of violation of the terms of the contract. This IPSIG model was used to provide oversight for these contractors so that the buildings needed could get built. However, this IPSIG model was very intrusive, with the monitor literally in the back pocket of the contractor reviewing accounting records, engineering drawing and contracts on an almost continuous basis. DiCianni envisioned a less intrusive, more collaborative model. Yet he noted it took time to convince all the relevant parties, the regulators, defense counsel and companies of the effectiveness of this approach. He said there were three key factors in this process.
They were (1) to convince the regulators that a truly independent monitor not only had advantages but would work; (2) many government agencies and state oversight boards did not want to put the licensed companies and persons out of business because the government and people in a state needed the services; and (3) economic pressures which caused cut-backs to funding and the regulators simply did not have the head count to fulfill the oversight role that an independent monitor can perform. DiCianni was able to answer these questions and others; all of which helped in the formation and growth of AMI.
For more information on how an independent monitor can help improve your company’s ethics and compliance program, visit Affiliated Monitors at www.affiliatedmonitors.com.

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Daily Compliance News

August 19, 2020-the Just Kidding edition


In today’s edition of Daily Compliance News:

  • Former NRA insider pens tell-all book. (NYT)
  • Banks set up partnerships to combat crime. (WSJ)
  • After trying to destroy Postal Service, Trump Administration says ‘just kidding’. (WSJ)
  • Average CEO salary now $21.3MM. (WaPo)