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Everything Compliance

Daily Compliance News: June 13, 2019, the 6 months at home edition

In today’s edition of Daily Compliance News:

  • Are high numbers of athletes at a university indicia of bribery? (Washington Post)
  • Tesla shareholders fail to pass corporate governance improvements. (WSJ)
  • Will Switzerland become a global courthouse? (FT)
  • No water time for ex-Stanford sailing coach, at least for 6 months. (Reuters.com)
Categories
Everything Compliance

Episode 48-Trump Administration and Compliance, Half-Year Report, Part 1

Welcome to the only roundtable podcast in compliance. In this episode, we begin a two-part episode where we consider the Trump Administration and Compliance, Part 1. This episode includes Sarah Hadden, Mike Volkov and Matt Kelly. Our next episode will feature Jay Rosen, Jonathan Armstrong and your host, Tom Fox.

  1. Sarah Hadden bemoans the death of privacy and explains how the Number 7 has come to haunt her in the modern world of advertising algorithms. Sarah shouts out to the resistance to the Surveillance State and Surveillance Capitalism.
  2. Matt Kelly considers both where the SEC has been and is headed in its rollback of SEC 404 protections and the SEC changes to its whistleblower provisions under Dodd-Frank. Matt treats us to a double shot of rants today as he cannot control himself on the subject of the Trump Administration calling sub-regulatory guidance from the DOJ worthless “paper” while continuing to issue Guidance such as the 2019 Guidance for Compliance Programs. He also rants about the Dutch Data Protection Authority who violated GDPR in a recent release of data and then failed to timely report said breach (to themselves).
  3. Mike Volkov goes hyperbolic in his discusses of the new OFAC compliance program and the current state of OFAC sanctions. Mike rants about the petty criticism of the DOJ’s Evaluation of Corporate Compliance Programs.

The members of the Everything Compliance are:

The host and producer (and sometime panelist) of Everything Compliance is Tom Fox the Compliance Evangelist. Everything Compliance is a part of the Compliance Podcast Network.

Categories
Excellence in Training

Envision Your Compliance Training Program

In this episode of Excellence in Training, Shawn Rogers and I consider how you should envision your training.
Shawn begins his journey with the famous book, The Seven Habits of Highly Effective People, where Stephen R. Covey said, “All things are created twice. There’s a mental or first creation, and a physical or second creation to all things. Take the construction of a home, for example. You create it in every detail before you ever hammer the first nail into place. . . Then you reduce it to blueprint and develop construction plans. . . Begin with the end in mind. ”

This principle applies to creating a compliance training program. A common mistake is jumping right to the question if which courses you want and how to deploy them. However, there are several things you need to think about before you start building the program.
Here are the steps we followed at GM as we envisioned what our compliance training should look like:
  1. Decide on the program’s guiding principles
  2. Establish program design objectives
  3. Develop a style guide or set of course standards
  4. Determine the exact risks that will be addressed by the training program
  5. Set up a governance process to ensure stakeholder alignment, approve the program design, approve the budget, and monitor effectiveness.In Covey’s terms, these activities resulted in the blueprint — or the  “first creation” —  of our compliance training program. We did all of these before we selected our vendor and started building our training courses.
Categories
Trekking Through Compliance

Trekking Through Compliance-Episode 11-The Menagerie (Part One)

In this episode of Trekking Through Compliance, we consider the episode The Menagerie (Part One) which aired on November 17, 1966, Star Date 3012.4.
Compliance Takeaways:
  1. A leader must take care of themselves as well as their crew.
  2. What does it mean if a deal is too good to be true?
  3. Trust but verify.
Resources
Excruciatingly Detailed Plot Summary by Eric W. Weisstein for The Menagerie (Part One)
MissionLogPodcast.com-The Menagerie (Parts 1 & 2)
Categories
Daily Compliance News

Daily Compliance News: June 12, 2019, the Hipster Anti-trust edition

In today’s edition of Daily Compliance News:

  • Is hipster anti-trust coming? (Reuters)
  • Trump Tower in Moscow-the Forbes Report. (com)
  • What are premerger notification requirements and why you should follow them. (WSJ)
  • Yet more reports of Deutsche Bank failings on AML. (com)
Categories
Compliance Into the Weeds

Compliance into the Weeds: Episode 127- Robotic Process Automation

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. In this episode, Matt Kelly (the coolest guy in compliance) and I take a deep dive into Robotic Process Automation.
Some of the highlights include:

  • What is robotic process automation (RPA)?
  • How does it differ from AI?
  • How could a compliance professional use RPA?
  • Why is does it pose unique risks to a corporate compliance function?

For additional reading see Matt’s blog post Thoughts on RPA, Compliance and You

Categories
Great Women in Compliance

Episode 23-Courtney Sander on Operationalizing Compliance

Lisa Fine and Mary Shirley are the proud co-hosts of Great Women in Compliance. They bring to you some of the top female compliance practitioners who relate some of the challenges they have faced and overcome in the compliance profession. In this episode, Mary visits with Courtney Sander about current trends and best practices in Compliance training, what it means to operationalize your program and how younger leaders can gain credibility with key stakeholders. Great Women is Compliance is a part of the Compliance Podcast Network and can be found on Spotify, iTunes, the FCPA Compliance Report and Corporate Compliance Insights.

Categories
Trekking Through Compliance

Episode 10- The Corbomite Maneuver


In this episode of Trekking Through Compliance, we consider the episode The Corbomite Maneuver which aired on November 10, 1966, Star Date 1512.2.
Novice navigator Lt. Dave Bailey spots a large spinning multi-colored cube floating in space. He advocates attacking it with phasers. Kirk instead orders the ship to back away from the object. The cube pursues them, emitting harmful radiation, and Kirk reluctantly destroys it. Thereafter a gigantic glowing sphere approaches the Enterprise, explaining that the destroyed cube was a border marker and the First Federation will destroy the Enterprise for trespassing into theirn territory. Kirk tries to bluff Balok, telling him that the Enterprise contains “corbomite”, a substance that automatically destroys any attacker.
Kirk, McCoy, and Bailey form a boarding party to render assistance. They beam over and discover that the “Balok” on their monitor was an effigy. The real Balok, looking like a hyperintelligent human child, enthusiastically welcomes them aboard. He explains that he was merely testing the Enterprise and its crew to discover their true intentions. As Kirk and company relax, Balok expresses a desire to learn more about humans and their culture, and suggests they allow a member of their crew to remain on his ship as an emissary of the Federation. Bailey happily volunteers, and Balok gives them a tour of his ship.
Compliance Takeaways:

  1. Never pass up the chance for a cross-cultural exchange.
  2. Should discipline have a remedial component or be simply punitive?
  3. How much stress can you or should you put on your employees?

Resources
Excruciatingly Detailed Plot Summary by Eric W. Weisstein for The Corbomite Maneuver
MissionLogPodcast.com-The Corbomite Maneuver

Categories
Innovation in Compliance

Rebooting your Mindset with Tanya Otterstein-Liehs


Tom and Tanya met virtually years ago, and she’s one of the most interesting people Tom has ever come across. Tanya started her career in early childhood education but she didn’t end up there; after a leaving childcare and being a stay-at-home mother, Tanya dedicated her life to something that matters to her: being healthy. How does that apply to you? When you move your body and exercise, you will be much better at your job.

More Than Physical Fitness
Physical fitness isn’t just about your body. It’s about your mind, too, in how you see yourself and embrace who you are. Being fit is also about training your mind to embrace goodness, and it’s intrinsically connected to how your body feels. For those in compliance, it can be a lot of everyday stress. Practicing fitness of mind and body can help relieve that.
How to Create a Positive Mindset
It’s as simple as waking up and thinking of one thing to be grateful about, and when you’re going to bed, decide on the best thing that happened that day. And it’s as hard as that, too. Your mindset is a part of you, so to change it, you have to change your habits. Like being physically fit, being mentally fit requires a bit of training. Here’s how to reboot your mindset:
First, as you go about your day, recognize the small things and focus on how you feel. Give yourself permission to take five minutes to get centered again.
Second is moving your body every day. Running, CrossFit, cycling, swimming, walking around the block: it doesn’t matter what you do so long as you do it consistently.
Third is going to bed and thinking about the best thing that happened that day. It helps you focus on the positive aspects.
Fourth, as you’re getting ready for work the next day, take a moment to reflect on who you and appreciate the good things about yourself.
Fifth, surround yourself with positive people. You can’t imagine how negative people can drag you down. Even if they’ve been a friend for life, it might be worth breaking the friendship.
SEA – The Self-EMPOWERMENT Academy
Tanya talks about her membership community, who it’s for, and why women of all background should consider joining it. She also shares why she wears a leather jacket.
Resources
Self-EMPOWERMENT Academy | Instagram | Twitter | LinkedIn | Facebook

Categories
Daily Compliance News

Daily Compliance News: June 11, 2019, the little bit concerned edition

In today’s edition of Daily Compliance News:

  • Senegal justice ministry calls for inquiry into energy contracts. (Reuters)
  • Convicted opioid pusher Insys files for bankruptcy. (NYT)
  • Trump said he was “a little bit concerned” about Raytheon/United Technologies merger. (Washington Post)
  • Will California strengthen its data protection laws? Not if Big Tech can help it. (Bloomberg)