In today’s edition of Sunday Book Review:
- Elliott Ness and the Mad Butcher By Max Allan Collins and A. Brad Schwartz
- How Ike Lead by Susan Eisenhower
- Caste-The Lies That Divide Us by Isabel Wilkerson
- Western Europe’s Democratic Age by Martin Conway
Author: admin
In this final episode for the month of July on 31 Days to a More Effective Compliance Program, I review the past month’s offerings and preview the month of August where I take up the topic of Boards of Directors and Compliance.
We have been getting accountability all wrong in the compliance profession. It’s not a set of tasks – it’s a way of thinking and it has to come from the heart as well as the head. On Accountability: The Heart of Compliance Tom Fox and Sam Silverstein dig into what accountability means to the corporate compliance function and business organizations and most significantly, how to make it an integral part of your culture. In this episode Sam and I, talk about a recent example of accountability by Microsoft. Some of the highlights include:
- Accountability can start with a written statement.
- Accountability must be followed up with actions.
- If you do not make decisions which align with your stated values, they are really not your stated values.
For more information on Sam Silverstein and his work on accountability, click here.
See Sam’s blog post, Corporate Culture: Accountability Means Acting on What You Stand For
As the international fight against corruption took two small steps forward this week in the 1MDB case, 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.
- Goldman Sachs settles with Malaysia for nearly $4bn. Ben Otto and Chester Tay report in the WSJ. Former Malaysia PM convicted in 1MDB scandal, Harry Cassin reports in the FCPA Blog.
- Mike Volkov reports on two big enforcement actions in Pharma. Indivior and illegal marketing of opioid products. Taro Pharma and price-fixing.
- What are the shared elements in a best practices compliance program? Jaclyn Jaeger explores in Compliance Week. (sub req’d)
- How can you test your hotline? Matt Kelly explores on Radical Compliance.
- Why is Germany soft of corporate crime? Dick Cassin considers in the FCPA Blog.
- Whistleblower management in the EU. Frank Staelens in CCI.
- How can you audit AI? James Bone explores in CCI.
- What should be the goal of effective internal controls? Alex Movchan interviews Edmund Sanders in Risk and Compliance Platform Europe.
- This month on The Compliance Life, I am joined by Scott Sullivan, Chief Integrity and Compliance Officer at Newport Mining. In Part 1, we discussed the need for empathy in a CCO. In Part 2, we looked at reading the tea leaves and staying ahead of the (corp) wolf pack. In Part 3, we considered who a CCO needs on their compliance team. In this concluding Part 4, we look at the CCO and compliance function down the road.
- AMI week on Compliance and Coronavirus as Jerry Coyne discusses telemedicine and Covid-19, Don Stern on how Covid-19 will impact federal prosecutors and Mikhail Reider-Gordon compliance issues during the business reopenings.
- On the Compliance Podcast Network, Tom concludes the topic of 3rd party risk management. This week saw the following offerings: Monday-freight forwarders; Tuesday– risk ranking in the Supply Chain; Wednesday-data and 3rd party risk management (Vin DiCianni as guest); Thursday-enforcement actions; and Friday-wrap up. The month of July 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. Join us in August for the role of the Board of Directors.
- Upcoming Webinars:
K2-FIN, Windward, and C4ADS Webinar—New Sanctions Developments in the Maritime Sector: UK Sanctions Shipping Guidance and Venezuelan Shipping in Focus, August 5, 2020 at 10:45 to 11:45 AM EST; with Juan Zarate and Eric Lorber. Registration and Information 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.
Categories
Wirecard and Short Sellers
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 consider the roll of short sellers in the Wirecard saga.
Some of the highlights include:
- Wrap up of the most current event in the Wirecard saga.
- What is a short seller?
- Is it wrong or prohibited?
- Are short sellers activists?
- History of short sellers and Wirecard.
- What happened after so many short sellers warned of fraud by Wirecard.
- Was that the end of it?
- When were their suspicions vindicated?
Welcome to the newest addition to the Compliance Podcast Network, Compliance and Coronavirus. In this episode, I visit with Mikhail Reider-Gordon who is Managing Director of Institutional Ethics and Integrity at AMI. In this role, she oversees the company’s corporate monitoring programs across a spectrum of industries. We discuss the compliance challenges in business reopenings (and perhaps closings) in the summer of 2020 and through the rest of the year.
Some of the highlights include:
- What are some of the key issues in business reopenings during Covid-19?
- What will continue for compliance during the summer of 2020 and through the rest of the year?
- Why is oversight even more important during Covid-19?
For me information check out the Affiliated Monitors website here.
Keith Laska is the CEO of Hanzo, co-founder and partner of EUX, and an advisor at Lilt. He joins Vince Walden to discuss Hanzo’s approach to cloud computing enterprise communications.
Hanzo is dedicated to helping legal and compliance teams save billions of dollars in litigation costs by supplying them with critical applications to regain control of their corporate data. They offer legal hold software for companies struggling with enterprise collaboration tools. Their mission is to make the complex simple when it comes to managing dynamic data. Collaboration tools like Slack and Microsoft Teams are challenging for legal and compliance teams to perform audit trails related to communication, due to their complex and unstructured nature. Emails, on the other hand, have clear and direct pathways of communication.
Applications that enable work-from-home environments are being adopted at an aggressive pace, so much so that the CEO of Slack has publicly stated that the pandemic has accelerated the anticipated evolution from emails to messaging apps by at least 18 months. Keith predicts that 30-40% of the working US population will be working remotely post-COVID, a huge jump from the previous 18%. Additionally, he believes that over the next few years, companies will be able to proactively identify problems before they occur, transforming data management into insight management.
Resources
Keith Laska on LinkedIn | Twitter
Hanzo.co
Richard Lummis and Tom Fox continue their a five-part series on leadership lessons from Theodore Roosevelt. We will look at lessons from Roosevelt’s early years in New York up to his cowboying days in Montana; the second phase of his public career, from NYC Police Commission to Assistant Secretary of the Navy, San Juan Hill and the Vice Presidency; his leadership from his Presidency; his life in the post-Presidency and the election of 1912 and we will end with leadership lessons from his post Bull Moose Party life, World War I and event surrounding his death. In this fourth episode, we consider the leadership lessons learned from Roosevelt’s years after the end of his second term up through his run for President at the head of the Bull Moose Party in 1912.
Highlights of this podcast include:
Roosevelt goes big game hunting and holds meetings with political leaders across all of Europe. What led to the schism in the GOP and Roosevelt’s defeat at the GOP 1912 Convention? The formation of the Bull Moose Party and his survival of an assassination attempt. The election of 1912, his loss to Wilson but his overwhelming defeat of his former protegeé, William Taft. We conclude this episode with three key leadership lessons, including: 1. Change when the facts change; 2. Don’t be afraid of making unpopular decisions; and 3. Leaders are Learners.
Resources
Doris Kearns Goodwin’s 10 Leadership Lessons from the White House
6 Leadership Hacks From The Rise of Theodore Roosevelt
10 top Leadership Principles of Teddy Roosevelt
The Roosevelts: Eight presidential lessons in leadership
Lessons in Leadership from 100 years ago
Theodore Roosevelt on Leadership
10 Theodore Roosevelt Leadership Lessons
