In today’s edition of Daily Compliance News:
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In this episode of Trekking Through Compliance, we consider the episode The Menagerie (Part Two) which aired on November 24, 1966, Star Date 3012.4.
Compliance Takeaways:
- What happens with your counter party refuses to comply with FCPA requirements?
- When the time comes will you as a CCO speak truth to power?
- Sometimes failure and being left behind are options.
Resources
Excruciatingly Detailed Plot Summary by Eric W. Weisstein for The Menagerie (Part Two)
MissionLogPodcast.com-The Menagerie (Parts 1 & 2)
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)
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.
- 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.
- 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).
- 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:
- 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 lawyer with Cordery in London. Armstrong can be reached at armstrong@corderycompliance.com
- Sarah Hadden–Publisher at Corporate Compliance Insights. Hadden can be reached at Sarah@corporatecomplianceinsights.com
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.
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:
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:
- Decide on the program’s guiding principles
- Establish program design objectives
- Develop a style guide or set of course standards
- Determine the exact risks that will be addressed by the training program
- 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.
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:
Compliance Takeaways:
- A leader must take care of themselves as well as their crew.
- What does it mean if a deal is too good to be true?
- Trust but verify.
Resources
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
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.
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:
- Never pass up the chance for a cross-cultural exchange.
- Should discipline have a remedial component or be simply punitive?
- 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
