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Digging Deeper

Digging Deeper Episode 9: From Hurricane Sandy to a Pandemic – The Role of Integrity Monitoring


When natural disasters or crises hit, governments deploy resources rapidly to try remediating current or to mitigate future damage. But who watches where the money goes? Tejah Duckworth spent the early part of her career in the public sector, notably overseeing Rapid Repairs Program in NYC after Hurricane Sandy. She took lessons from the public sector and now uses them in the private sector, most recently helping governments monitor pandemic-related funds.

In this episode, Tejah shares some of the key stories from her career and the role of integrity monitoring. Tune into Digging Deeper, episode 9 to hear more.
Listen to more episodes of Digging Deeper:

Digging Deeper, an investigative podcast series by K2 Integrity, helps shine a light on the investigations industry as few can: via the real-world, exceptional practitioners who, day in and day out, conduct this work across sectors and around the globe. Listen in to each episode where guests explore unique cases and share what they uncovered along the way to crack the code for clients. Learn more by clicking here, or subscribe on Apple Podcasts, SoundCloud, Spotify or Stitcher. 
 

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Compliance Kitchen

TikTok Sanction Changes


Staying local, the Kitchen reviews the recent Executive Order that ended TikTok and WeChat restrictions, but introduced new ones.

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12 O’Clock High-a podcast on business leadership

Plutarch’s Lives- Solon and Poplicola


12 O’Clock High, a podcast on business leadership brings together stories from history, the arts and movies, research and current events to consider leadership lessons. In this episode, Richard Lummis and Tom Fox begin a 10-part summer series on leadership lessons from biographies found in Plutarch’s Lives. Each week we will pair an ancient Greek and Roman to learn about their lives, the comparison and contrast between the two men and what leadership lessons with might draw from their lives. In today’s episode we look at the Greek Solon and the Roman Poplicola. Highlights include:

  • Introduction of Plutarch’s Lives as historical work.
  • Lives of Solon and Poplicola.
  • Comparison in the lives of Solon and Poplicola.
  • What leadership lessons can be drawn from the lives of Solon and Poplicola.

Resources
Plutarch’s Lives by Bill Thayer

Categories
The ESG Report

Trysha Daskam on ESG: Opportunities and Risks Part 2


 
Trysha Daskam is back for part 2 of The ESG Report. In this episode, she and Tom Fox are discussing what investors are looking for regarding ESG, the rise of ESG products, and making your ESG policy actionable and regulator-friendly.
 

 
ESG is a Must-Have
Tom and Trysha discuss what companies seeking investment need to have regarding ESG. “Maybe a year ago,” she remarks, “ESG was nice to have… today we are really in an environment where ESG is a must.” Placement managers and individual investors are demanding that firms state their position on ESG risk, as well as how they incorporate ESG into their investment strategy and how they manage those investments. In addition, Trysha points out, the industry is maturing so there are more tools companies can use to define their ESG programs. “I think we’re in a place where if you do not have a perspective on ESG you’re really behind at this point,” she comments. More companies are communicating their ESG commitment through their websites as well as their marketing materials, she tells Tom.
 
Key ESG Risk Areas
“Highlight some of the key ESG risk areas you see,” Tom asks Trysha. Companies struggle with how to put their ESG policy into action, she answers. Two other risk areas are that ESG policies may be too vague or may prescribe practices that the company has no competency to implement. She reminds listeners, “You must do what your policy says… It is better to have a policy that is very small in terms of its perspective but is accurate; that you are actually able to accomplish.” You can always build on your policy as you grow. Also, she emphasizes, appoint someone to check that you’re actually implementing your ESG policy. “The greatest risk with any policy or procedure at a firm is that you would not be able to substantiate that you did what you said you were going to do.” Most importantly, your ESG policy must effect some change. “If you’re a firm that has an ESG program that doesn’t require anybody to do anything, then what is the point of that policy? Why even have it?” Trysha argues.
 
ESG Trends
US investment managers are trending towards an ESG integration strategy, while for managers in the EU, launching an ESG product is the foremost strategy. There has also been an increase in ESG tools and benchmarking products, which “create a landscape for firms to think through the tools that they can use to tell their ESG story more elegantly,” Trysha says. However, you should vet whichever tool you choose with the same thoroughness as you would vet a third party vendor, she cautions. Tom asks where a company should start around ESG. Start by evaluating how comprehensive your ESG policy is, Trysha advises. 
 
Resources
Silver Regulatory Associates
How EU Climate Regulations May Affect US Private Fund Managers
 

Categories
Everything Compliance

Episode 81, the Biden on Corruption Edition


Welcome to the only roundtable podcast in compliance. Today, we have a quartet of Matt Kelly, Jonathan Marks, Mike Volkov and special guest panelist Kortney Nordrum for a deep dive into the recent President Biden Statement and Memorandum making corruption a national security issue. We end with a veritable mélange of rants and shouts outs.

  1. Mike Volkov looks at it from the regulatory/prosecutorial perspective and what it might mean for enforcement. Volkov rants about the DOJ investigations into Democratic members of Congress under the Trump Administration.
  2. Jonathan Marks says that everything in the President’s Statement should not be surprise but it is a wakeup call for BODs. Marks shouts out to the FBI for recovering the bitcoin payment made by Colonial Pipeline to the cyber hackers who breached it.
  3. Kortney Nordrum sits in as a special guest panelist. She looks at the Statement and Memorandum from the perspective a CCO. Nordrum rants about OSHA who after promising guidance for companies on return to work after Covid-19, only does so for health care organizations.
  4. Matt Kelly considers the Statement and Memorandum from cryptocurrency perspective and considers what additional legislation might come out of the national security review. Kelly has his own epic rant about Texas’ own Congressman Louis Gohmert who asked a Department of Forestry representative if they had looked at altering the orbit of the earth or moon to combat the effects of climate change.
  5. Tom Fox shouts out to the Department of Justice who indicted two US citizens who were engaged in bribery and corruption in trying to persuade the Trump Administration to order the DOJ to drop its investigation into 1MDB.

Additional Resources:
Matt Kelly blog post on Radical Compliance, Biden Puts Anticorruption Centerstage 
Mike Volkov Podcast on Crime Corruption and Compliance, The Biden Administration Announces Anti-Corruption Battle as National Security Interest 
Tom Fox takes a deep dive into the Statement and Memorandum on the FCPA Compliance and Ethics Blog
Biden Statement
The Biden Administration, Corruption and National Security
Are You a Compliance Evangelist?
The Role of Corporate Compliance 
The members of the Everything Compliance are:

  • Jay Rosen– Jay is Vice President, Business Development Corporate Monitoring at Affiliated Monitors. Rosen can be reached at JRosen@affiliatedmonitors.com
  • Mike Volkov – One of the top FCPA commentators and practitioners around and the Chief Executive Officer of The Volkov Law Group, LLC. Volkov can be reached at mvolkov@volkovlawgroup.com
  • Matt Kelly – Founder and CEO of Radical Compliance. Kelly can be reached at mkelly@radicalcompliance.com
  • Jonathan Armstrong –is our UK colleague, who is an experienced data privacy/data protection lawyer with Cordery in London. Armstrong can be reached at armstrong@corderycompliance.com
  • Jonathan Marks is Partner, Firm Practice Leader – Global Forensic, Compliance & Integrity Services at Baker Tilly. Marks can be reached at marks@bakertilly.com

The host and producer, ranter (and sometime panelist) of Everything Compliance is Tom Fox the Voice of Compliance. He can be reached at tfox@tfoxlaw.com. Everything Compliance is a part of the Compliance Podcast Network.

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Daily Compliance News

June 17, 2021 the Eat More Tacos edition


In today’s edition of Daily Compliance News:

  • Olympian blames failed drug test on burrito. (WSJ)
  • PwC to add 100K in headcount. (FT)
  • Italien prosecutors of ENI now under investigation. (Reuters)
  • End of cheap money? (NYT)
Categories
Compliance Kitchen

Israel Boycott Sanctions Update and the UAE


Looking at the developments in the boycott sanctions area, the Kitchen takes a look at the recent law in the UAE in regards to ending its boycott practices as to Israel.

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Great Women in Compliance

Karen Moore: Slide Door Moments to a Career in Compliance


Welcome to the Great Women in Compliance Podcast, co-hosted by Lisa Fine and Mary Shirley.
Karen Moore came highly recommended to the Great Women in Compliance Podcast, including by one of her very own team members.  There’s not much better a signal than that that someone is a strong and well respected leader.
In this episode Karen and Mary talk about what brought Karen such a great degree of success in her career, including the seemingly inconsequential decision she made in high school to accessorize herself to look cool which led to the international adventures in Compliance Karen has had.  The conversation canvasses an array of subjects from there including Karen’s learnings as an adjunct professor, speculation about the future of data privacy/protection law in the United States (yes, we’re doing futurist predictions today), and a lesson learned the hard way.
The Great Women in Compliance Podcast is proudly featured on the Compliance Podcast Network and sponsored by Corporate Compliance Insights.  If you enjoyed this episode please subscribe to the podcast and rate it on your podcast player to help other compliance professionals find it.  Want to hear more from us?  We have a book, “Sending the Elevator Back Down: What We’ve Learned from Great Women in Compliance” (CCI Press, 2020).
If you’ve already read the booked and liked it, will you help out other women to make the decision to leverage off the tips and advice given by rating the book and giving it a glowing review on Amazon?
As always, we are so grateful for all of your support and if you have any feedback or suggestions for our 2021 line up or would just like to reach out and say hello, we always welcome hearing from our listeners.
You can subscribe to the Great Women in Compliance podcast on any podcast player by searching for it and we welcome new subscribers to our podcast.
Join the Great Women in Compliance community on LinkedIn here.

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Compliance Into the Weeds

Financial Crimes Compliance Costs


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. This week Matt and Tom take a deep dive into the recent report from LexisNexis Risk Solutions about the costs of financial crimes compliance and its implications for ABC compliance professionals. Some of the issues we consider are:

  • What costs have gone up?
  • Why have the costs for financial crimes compliance increased?
  • What areas are the costs centered?
  • Did the costs increase due to the pandemic?
  • What does this mean for other compliance disciplines going forward?

 Resources
Matt in Radical Compliance
Financial Crimes Compliance Cost Keeps Going Up 
LexisNexis Report – True Cost of Financial Crime Compliance Global Report

Categories
Daily Compliance News

June 16, 2021 the Spying on Employees edition


In today’s edition of Daily Compliance News:

  • SEC looking at reversing Trump Era changes. (WSJ)
  • Companies looking at long-term ESG investment. (WSJ)
  • IKEA-France former CEO given 2-year suspended sentence for spying on employees. (BBC)
  • US and EU suspend Boeing Airbus tariff feud. (NYT)