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Daily Compliance News

Daily Compliance News: June 4, 2019, the leadership edition

In today’s edition of Daily Compliance News:

  • Why are bashful bosses better leaders? (FT)
  • Leaders must know their weaknesses better than their strengths? (FT)
  • A key leadership problem-setting boundaries. (Washington Post)
  • A younger generation of leadership for Glencore is coming. (Bloomberg)
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FCPA Compliance Report

DOJ 2019 Guidance: Part V – Final Thoughts

Over the course of this podcast series, sponsored by Affiliated Monitors, Inc. (AMI), I have visited with Eric Feldman, Senior Vice President of AMI. We have considered the Department of Justice (DOJ) Evaluation of Corporate Compliance Programs, (the “2019 Guidance”), which was released in April 2019. We are exploring what the 2019 Guidance changes are from the Evaluation of Corporate Compliance Program (2017 Guidance), released in February 2017, the structure and emphasis of the 2019 Guidance and what it means for the compliance practitioner going forward. In this concluding Episode, we bring together our final thoughts through a consider of the question “What does it all mean for your compliance practice? For more information on how an independent monitor can help improve your company’s ethics and compliance program, visit our sponsor at www.affiliatedmonitors.com.

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FCPA Compliance Report

FCPA Compliance Report-Episode 431, Pat Harned with Impact 2019 Wrap Up

In this episode I visit with Pat Harned, CEO at the Ethics and Compliance Initiative. We discuss the ECI’s recently concluded annual conference, Impact and some of the highlights for both Pat and myself. The theme of the event was ECI’s High Quality Program (HQP) Framework Assessment. Some of the highlights from the podcast include:

  1. The key theme was the HQP Framework Assessment tool. How did the genius bar facilitate discussions around the tool?
  2. How the physical layout of the event facilitated the thorough discussions at Impact 2019.
  3. How ECI will use the momentum from this event going forward.
  4. Some of the working groups which have come out of this event and will working to enhance the HQP.
  5. What is next for the High-Quality Program and Framework Assessment?
  6. A preview of some of the upcoming ECI events people can look forward to in the summer and fall, 2019.

Resources: For more information on ECI, click here. For information on the High-Quality Program, click here. For information on the HQP Framework Assessment, click here.

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Daily Compliance News

Daily Compliance News: June 3, 2019, the more lessons from Boeing edition

In today’s edition of Daily Compliance News:

  • Lengthy detail of Boeing miss-steps in 737 Max software issue. (NYT)
  • What price did a whistleblower pay in tennis for reporting match fixing? (NYT)
  • UK freezes home ownership for 3 homes purchased with unexplained wealth. (BBC)
  • Jamie Diamond criticizes Wells Fargo for having no CEO succession plan. (FT)
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Daily Compliance News

Daily Compliance News: June 2, 2019-the Sunday Book Review edition

In today’s edition of Daily Compliance News:

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Daily Compliance News

Daily Compliance News: June 1, 2019-the Management Incentives edition

In today’s edition of Daily Compliance News:

  • What are management incentives?(Huffington Post)
  • Vale employees warned of dam collapse and were ignored. (WSJ)
  • Think meetings are bad? Just wait until you can’t have any.(FT)
  • Claus von Bülow dies. (NYT)
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Daily Compliance News

Daily Compliance News: May 31, 2019-the May is done edition

In today’s edition of Daily Compliance News:

  • CITGO now part of PdVSA/Venezuelan corruption scandal. (Houston Chronicle)
  • Who else did Chuck Blazer bribe? (NYT)
  • Who is in your supply chain?.(FT)
  • Former head of Pemex charged with bribery and tax fraud? (NYT)
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This Week in FCPA

This Week in FCPA-Episode 156 – the Farewell to May edition

As the lads wish a fond farewell to May, enjoy the Astros still leading the MLB with the best record and looking forward to the start of summer, they return to discuss both events some of this week’s top compliance and ethics stories which caught their collective eyes.

  1. Dave Lefort’s Top 10 takeaways from Compliance Week 2019. (sub req’d) Tom, Mary Shirley, Lisa Fine and Amii Bernard-Bahn provide their reflections on a cross-posted podcast.
  2. Why ethics matters at the top.
  3. Can UNCAC help Mozambique recover funds stolen through corruption? Rick Messick explores.
  4. What is cooperation and remediation? Matt Kelly explores.
  5. Why is pre-acquistion DD from the compliance perspective now critical in France? Antoine F. Kirry, Frederick T. Davis, and Alexandre Bisch discuss.
  6. How much does a monitorship cost? Jay continues his multipart series on monitorships .
  7. How do you audit your investigative protocol? Mike Volkov explains in a 3-part series on his blog site Corruption, Crime and Compliance.
  8. Why is visibility key for compliance? Elsa Chan explores.
  9. CITGO now part of PdVSA/Venezuelan corruption scandal. Dick Cassin reports. Marissa Luck.
  10. Is there a legal duty to set the right ‘tone at the top?”
  11. This week Tom had a special 5-part podcast series sponsored by Hanzo on using AI and data analytics in compliance investigations. Check out the following: Part 1-Current State of Investigations; Part 2-Using AI and Web-Based Evidence; Part 3– Overcoming Investigative Challenges; Part 4-Improving Investigative Efficiencies; Part 5-Where are investigations headed? The podcast is available on multiple sites: the FCPA Compliance Report, iTunes, JDSupra, Megaphone,YouTube,  Spotifyand Corporate Compliance Insights. The Compliance Podcast Networkjoins C-Suite Radio.
  12. Join Tom in Boston for industry leading Compliance Master Class at the offices on AMI on June 11 & 12. Listeners who attend will receive a complimentary copy of The Compliance Handbook. Registration and Information is here. Join Tom, Eric Feldman, Vin DiCianni and Jay at the AMI Roundtable in Boston on June 13 for a deep dive into the DOJ’s new Evaluation of Corporate Compliance Programs-2019 Guidance. Information and registration is here.

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.
For more information on how an independent monitor can help improve your company’s ethics and compliance program, visit our sponsor Affiliated Monitors at www.affiliatedmonitors.com.

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Daily Compliance News

Daily Compliance News: May 30, 2019-is a spanking is coming edition

In today’s edition of Daily Compliance News:

  • Is the SEC useless? Mark Cuban thinks so. (Yahoo Finance)
  • Monitor orderd for Wynn Casinos in Massachusettes. (WSJ)
  • Frederick Pierucci continues his crusade against the DOJ and FCPA enforcement.(Shine)
  • What will happen to Carnival Cruise Lines? (Miami Herald)
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PHorensically Speaking

Tone and Conduct from the Top

In this episode, Jonathan Marks considers both tone and conduct from the top of an organization. The nature of a corporate culture can be the difference between a thriving and a beleaguered organization, and it all starts at the top! The control environment – that is, the overall attitude, awareness, and actions of directors and management regarding the internal control system and its importance to the organization – is the key to setting the tone of the organization because it influences the “control consciousness of its people.” Factors that contribute to the control environment include, but are not limited to –
·      Integrity and ethical values communicated by executive management in speaking and writing and demonstrated by action;
·      Responses to incentives and temptations – clear policies and actions that prohibit the acceptance of inappropriate gifts, for example;
·      Moral guidance, as communicated through a code of business conduct and ethics;
·      A commitment to competence, as demonstrated by robust human resource policies and clear job descriptions for the purpose of hiring and retaining qualified people;
·      A board of directors and audit committee that are engaged, ask questions, and take appropriate action;
·      A management philosophy and operating style that place high value on risk assessment and internal control;
·      A well-defined organizational structure that is appropriate to the company’s size and complexity;
·      Appropriate assignment of authority and responsibility, with well-defined authority and duties that are appropriately segregated to prevent or detect error and fraud;
·      Human resource/capital recruiting and retention policies and practices to ensure that human capital is valued; and,
·      Ways to settle internal differences, such as a forum to discuss and settle differences of opinion between management and employees.
In any organization, the buck stops with the CEO: He or she has ultimate responsibility for the internal control system. For additional reading see the article Tone from the Top, It Dissipates!