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31 Days to More Effective Compliance Programs

31 Days to a More Effective Compliance Program: Day 3- Key Updates in the ECCP: Messaging Apps, Internal Controls, and Compensation

Welcome to a special podcast series on the Compliance Podcast Network, 31 Days to a More Effective Compliance Program. Over these 31 days series in January 2025, I will post a key part a best practices compliance program each day. By the end of January, you will have enough information to create, design or enhancement a compliance program. Each podcast will be short, at 6-8 minutes with three key takeaways that you can implement at little or no cost to help update your compliance program. I hope you will plan to join each day in January for this exploration of best practices in compliance.

In today’s episode, we delve into the significant updates in the evaluation of corporate compliance programs, focusing on messaging apps, internal controls, and adequate compensation. The revised language in the ECCP highlights the DOJ’s increased scrutiny on the use of messaging apps, emphasizing the need for tailored policies that align with a company’s specific risks and business needs. We also discuss the critical importance of internal controls as minimum expectations set by the DOJ, and the necessity of continuous monitoring to manage these risks effectively. Lastly, we examine the newly added provisions related to adequate compensation, ensuring that compliance teams are empowered and protected against retaliation. The episode concludes by summarizing three key takeaways for compliance professionals: the growing importance of communications compliance, the need for robust and functional internal controls, and the imperative of adequately compensating compliance personnel.

Key Highlights

  • Messaging Apps and Compliance
  • Internal Controls and Risk Management
  • Adequate Compensation for Compliance Teams

Resources

Listeners to this podcast can receive a 20% discount to The Compliance Handbook, 5th edition by clicking here.

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Classroom Insiders

Classroom Insiders, Season 2- Exploring Insider Trading and Cryptocurrencies: SEC v. Wahi

Welcome to Season 2 of Classroom Insiders, a podcast with Professor Karen Woody and her Insider Trading Seminar students from Washington and Lee University. They explore the arc and evolution of insider trading over the last century. Each episode will feature a discussion between Karen Woody and students about insider trading and regulation. Find out what the future lawyers of the university think about past and current legislation and learn more about this fascinating area of law.

In this episode of Classroom Insider, Professor Woody discusses insider trading with law students Cody and Kevin. The trio takes a deep dive into the SEC v. Wahi case. The case involves the Coinbase crypto trading platform, where insider information about cryptocurrency listings was leaked by an employee to friends, enabling them to trade and profit before the information became public. The discussion underscores the intertwining of classical and misappropriation theories of insider trading, especially in the novel context of cryptocurrencies.

The episode further delineates how the securities regulation landscape is adapting to new financial instruments like cryptocurrencies and NFTs, referencing cases like Chiarella, Carpenter, and Chastain to provide a comparative analysis. The conversation evokes critical thoughts on the SEC’s jurisdiction in crypto markets and whether such activities should be classified under insider trading laws. As the legal boundaries expand, the trio anticipates continuous evolution in regulatory approaches towards insider trading and cryptocurrencies.

Key Highlights

  • Case Introduction: SEC vs. Wahi
  • Details of the Case
  • Legal Theories and Jurisdiction
  • Opinions and Takeaways

Resources

Washington and Lee School of Law

Professor Karen Woody

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Into the Darkness

Behind the Scenes: Make Up for Mare of the Night with River Wellborn

Into the Darkness: CJ Goodwyn’s Vision of Sherlock Holmes: Mare of the Night is a deep dive into the creative journey behind an ambitious reimagining of the Sherlock Holmes legacy. This 10-part podcast series will unravel the entire movie production process, offering listeners an insider’s look into the making of Sherlock Holmes Mare of the Night, a film that blends the mystique of classic Sherlock Holmes with a dark, supernatural twist. In episode 6, I am joined by River Wellborn, the Chief makeup artist on the Sherlock Holmes Mare of the Night set.

In this episode, River Wellborn shares the highlights of working on a recent movie project. River and Tom discuss the excitement of meeting and collaborating with talented individuals, transitioning from a theatrical to a film setting, and the thrill of working on location with cohesive and impressive sets. Their conversation also touches on the camaraderie and kindness of the crew, which made even the late hours enjoyable with moments of shared laughter and check-ins.

Highlights include:

  • Highlights of Working on the Movie
  • Meeting Cool People and Working in a Film Context
  • Fascinating Cohesion in Film
  • Kindness and Camaraderie on Set

Resources:

Sherlock Holmes-Mare of the Night

On Facebook

TriGoodwyn Productions

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31 Days to More Effective Compliance Programs

31 Days to a More Effective Compliance Program: Day 2-2024 ECCP on Incentives, Consequences, and Clawbacks

Welcome to a special podcast series on the Compliance Podcast Network, 31 Days to a More Effective Compliance Program. Over these 31 days series in January 2025, I will post a key part a best practices compliance program each day. By the end of January, you will have enough information to create, design or enhancement a compliance program. Each podcast will be short, at 6-8 minutes with three key takeaways that you can implement at little or no cost to help update your compliance program. I hope you will plan to join each day in January for this exploration of best practices in compliance.

In this episode, we discuss how the Department of Justice (DOJ) has emphasized the importance of designing and implementing compliance-based compensation schemes. Financial incentives, such as deferred or escrowed compensation tied to conduct, play a critical role in fostering a culture of compliance. The episode also explores the necessary continuum of assessment, analysis, implementation, and monitoring that companies must follow for effective compliance incentive programs. Additionally, Tom covers the DOJ’s rigorous approach to consequence management, particularly concerning clawback provisions in executive contracts. The episode guides compliance professionals on the essential steps and analyses required to adhere to the enhanced DOJ expectations. Key takeaways include the importance of financial incentive analysis and the distinct yet related roles of clawbacks and consequence management within a compliance program.

Key Highlights

  • Starting with Incentives and Consequences
  • Incentive Program Breakdown
  • Consequence Management Deep Dive

Resources

Listeners to this podcast can receive a 20% discount to The Compliance Handbook, 5th edition by clicking here.

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Career Can D0

Ambition Without Burnout with Faye McCray

In a world driven by hustle culture, have you ever stopped to ask yourself: Am I chasing success or truly living it? In this episode of Career Can Do, Faye McCray, a lawyer, author, and executive leader, explores this profound question with Mary Ann Faremouth. Her insights challenge conventional ideas of success, offering a fresh perspective on what it means to live a fulfilling life.

Faye grew up believing success required relentless effort, only to realize later that the constant grind was eroding her well-being. Her pivotal realization? Overwork isn’t a badge of honor — it’s a barrier to fulfillment. Instead of wearing busyness as a status symbol, she urges people to redefine success on their own terms. Ask yourself: “Am I working toward my dreams or just staying busy?” If it’s the latter, it’s time to reassess.

Another crucial lesson Faye offers is that your job is not your identity. In a world where introductions revolve around “What do you do?”, she reminds us that our worth extends beyond job titles. By setting boundaries—like removing work apps from your phone—you create space to be fully present in non-work moments. This shift allows for a more holistic sense of self, not tied solely to professional accomplishments.

Faye is also a firm believer in the power of pause. Her “Rest and Reclaim” retreats offer people a chance to step back and reflect. But you don’t need a retreat to practice this. Simple pauses—like a walk or a device-free meal—can restore clarity and spark creativity. Breaks aren’t indulgences; they’re essential for personal growth.

When it comes to future goals, Faye advocates for intentional planning. Her advice? Break down big goals into smaller, manageable steps, just as her mother did when pursuing higher education. This approach makes even the most ambitious objectives feel achievable. Flexibility is key—life happens, and sometimes timelines shift.

Finally, Faye emphasizes the timeless principle: “Know thyself.” True growth requires self-reflection. By taking moments of stillness, you can better understand your desires and realign with your purpose.

Success isn’t about grinding harder—it’s about living with intention. Take that walk. Log off from work apps. Reclaim your time. As Faye reminds us: Ambition and boundaries can coexist.

Resources

Faye McCray on the Web I LinkedIn

Mary Ann Faremouth on the Web I X (Twitter)

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31 Days to More Effective Compliance Programs

31 Days to a More Effective Compliance Program: Day 1-Data Driven Compliance

Welcome to a special podcast series on the Compliance Podcast Network, 31 Days to a More Effective Compliance Program. Over these 31 days series in January 2025, I will post a key part a best practices compliance program each day. By the end of January, you will have enough information to create, design or enhancement a compliance program. Each podcast will be short, at 6-8 minutes with three key takeaways that you can implement at little or no cost to help update your compliance program. I hope you will plan to join each day in January for this exploration of best practices in compliance.

In the first episode of ‘One Month to a More Effective Compliance Program’, host Tom Fox, the Compliance Evangelist, emphasizes the increasing importance of data analytics and monitoring in the realm of compliance. Highlighting insights from the DOJ, this episode illustrates how data-driven compliance can significantly improve decision-making, business efficiency, and risk management. By leveraging technology and effective data analysis, companies can uncover hidden issues such as improper payments and improve overall corporate transparency. Tom Fox discusses the necessity for compliance programs to have quick and easy access to data to ensure informed decision-making and proactive compliance management.

Key Highlights

  • Importance of Data Analytics in Compliance
  • Implementing Data-Driven Compliance
  • Challenges and Solutions in Data-Driven Compliance

Resources

Listeners to this podcast can receive a 20% discount to The Compliance Handbook, 5th edition by clicking here.

Categories
Sunday Book Review

Sunday Book Review: December 29, 2024 – The Top Corporate Culture Books from 2024 Edition

In the Sunday Book Review, Tom Fox considers books that interest the compliance professional, the business executive, or anyone curious. These could be books about business, compliance, history, leadership, current events, or anything else that might interest Tom. In December, Tom will review the top books in some key areas of interest for compliance professionals and four top books on corporate culture from 2024.

  1. Unspoken by Ella F. Washington
  2. Tribe of Mentors by Timothy Ferriss
  3. Employalty by Joe Mull
  4. The Gift of Culture by Will Scott

 

For more information on the Ethico Toolkit for Middle Managers, available at no charge, click here.

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Classroom Insiders

Classroom Insiders, Season 2 – US v. Chow and the Personal Benefit Test

Welcome to Season 2 of Classroom Insiders, a podcast with Professor Karen Woody and her Insider Trading Seminar students from Washington and Lee University. They explore the arc and evolution of insider trading over the last century. Each episode will feature a discussion between Karen Woody and students about insider trading and regulation. Find out what the future lawyers of the university think about past and current legislation and learn more about this fascinating area of law.

In this episode of Classroom Insiders, Professor Karen Woody and law students Alex Hudson and Alon Gokovski review the insider trading case of United States v. Chow. And its impact on the Personal Benefit Test. Their discussion sheds light on the sensational facts of this case, including secret code words, live lobsters, and jars of honey, all used in a complex tippers-and-tippees scheme. The episode also examines the legal intricacies of the personal benefit test and its broader implications in insider trading law. The students discuss the trial, the appeal, and the ultimate impact of this case on the interpretation of insider trading laws. Insights are shared on the US Attorney’s crackdown during this period, the discrepancies in sentencing, and where the law stands today post-United States v. Chow and subsequent cases.

Key highlights:

  • Meet the Students: Alex and Alon
  • Introducing the Case: United States v. Chow
  • Understanding Insider Trading Law
  • The Sensational Details of the Chow Case
  • Trial and Sentencing of Winifred Chow
  • Appeal and Legal Implications
  • Final Thoughts and Broader Implications

Resources:

Washington and Lee School of Law

Professor Karen Woody

Categories
Into the Darkness

Into the Darkness – An Inside Look at Portraying Sherlock Holmes with Les Best

Into the Darkness: CJ Goodwyn’s Vision of Sherlock Holmes: Mare of the Night is a deep dive into the creative journey behind an ambitious reimagining of the Sherlock Holmes legacy. This 10-part podcast series will unravel the entire movie production process, offering listeners an insider’s look into the making of Sherlock Holmes Mare of the Night, a film that blends the mystique of classic Sherlock Holmes with a dark, supernatural twist. In episode 7, I am joined by actor Les Best, who discusses his journey from a high school stage actor to playing the iconic Sherlock Holmes in the film ‘Sherlock Holmes, Mare of the Night.’

Les shares his insights into the unique challenges and opportunities of embodying one of literature’s most enduring characters and his collaborative relationship with director CJ. They explore the depth of character development and the authenticity brought to the depiction of Sherlock through meticulous research and personal experiences. Additionally, Les offers a glimpse into the process of making an independent film with passion and limited resources, highlighting the importance of such projects in the cinematic world.

Highlights include:

  • Les Best’s Acting Journey
  • Portraying Sherlock Holmes
  • Collaboration with CJ Goodwyn
  • Rehearsal and Filming Insights
  • Victorian England Set Design
  • Why Watch This Movie?

Resources:

Sherlock Holmes-Mare of the Night

On Facebook

TriGoodwyn Productions

Categories
Innovation in Compliance

Innovation in Compliance – Sage Franch and Scott McCleskey on AI-Powered Compliance Strategies for Risk Prevention

Innovation comes in many areas, and compliance professionals must be ready to embrace it. Join Tom Fox, the Voice of Compliance, as he visits with top innovative minds, thinkers, and creators in the award-winning Innovation in Compliance podcast. In this episode, host Tom welcomes Sage Franch, CEO and co-founder of Rulebook.ai, and Scott McCleskey, a member of Rulebook.ai’s board of advisors, who discuss their innovative AI-driven solutions for regulatory compliance.

Sage and Scott offer compelling perspectives on the role of artificial intelligence in compliance. Sage views AI as a tool to augment human capabilities, enabling compliance professionals to process large volumes of information swiftly and focus on strategic decision-making, provided the AI tools are built on trusted data sources. Meanwhile, Scott highlights AI’s potential to enhance compliance programs by reducing false positives, improving risk management, and offering real-time regulatory insights, which can make compliance efforts more efficient and proactive. Both experts agree that AI’s integration into compliance streamlines processes and empowers professionals to address compliance challenges with greater confidence and foresight.

Key highlights:

  • The Superpower of AI in Compliance
  • Enhancing Compliance Processes with AI
  • Proactive Compliance Measures with AI Technology
  • AI-Powered Compliance Strategies for Risk Prevention

Resources:


Sage Franch on LinkedIn

Scott McCleskey on LinkedIn

RuleBook.ai

Tom Fox

Instagram

Facebook

YouTube

Twitter

LinkedIn