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Innovation in Compliance

Navigating CFIUS Risks with Business Intelligence: Part 5 – Effective Monitoring and Compliance Officer Solutions for CFIUS


Welcome to a  sponsored podcast series where I am exploring how to navigate risk from the Committee on Foreign Investment in the United States (CFIUS), sponsored by K2 Intelligence Financial Integrity Network (K2 Intelligence FIN). Over this five-part series I will visit with David Holley and Him Das the co-leads of CFIUS Advisory Practice at K2 Intelligence FIN. We will consider navigating the CFIUS process through using business intelligence to identify CFIUS threats and vulnerabilities, using a proactive approach to navigate the CFIUS process, compliance frameworks for risks under CFIUS and cyber risks and access controls under CFIUS. Today, in this concluding Episode 5, I visit with Him Das on effective monitoring and compliance officer solutions for CFIUS.
Highlights include:

  • What is a monitorship and how does this work?
  • What will this looks like when it comes to CFIUS?
  • What can companies prepare for in advance of being put under the eye of a monitor?
Categories
Innovation in Compliance

Navigating CFIUS Risks with Business Intelligence: Part 3 -CFIUS and Compliance Frameworks for Export Control, Financial Crimes Risk and Anti-Corruption Compliance


Welcome to a  sponsored podcast series where I am exploring how to navigate risk from the Committee on Foreign Investment in the United States (CFIUS), sponsored by K2 Intelligence Financial Integrity Network (K2 Intelligence FIN). Over this five-part series I will visit with David Holley and Him Das the co-leads of CFIUS Advisory Practice at K2 Intelligence FIN. We will consider navigating the CFIUS process through using business intelligence to identify CFIUS threats and vulnerabilities, using a proactive approach to navigate the CFIUS process, CFIUS and cyber risk and access control, and effective monitoring for CFIUS. Today, in Episode 3, I visit with Him Das on the CFIUS process regarding compliance frameworks for sanctions, export control, financial crimes risk and anticorruption risks.
Highlights include:

  • When it comes to sanctions and export control, what is CFIUS examining?
  • What sectors are particularly vulnerable to new export control rules and why?
  • How can entities leverage due diligence to mitigate these issues?
Categories
Innovation in Compliance

Navigating CFIUS Risk with Business Intelligence: Part 2-Navigating CFIUS Through Proactive Management


Welcome to a  sponsored podcast series where I am exploring how to navigate risk from the Committee on Foreign Investment in the United States (CFIUS), sponsored by K2 Intelligence Financial Integrity Network (K2 Intelligence FIN). Over this five-part series I will visit with David Holley and Him Das the co-leads of CFIUS Advisory Practice at K2 Intelligence FIN. We will consider navigating the CFIUS process through using business intelligence to identify CFIUS threats and vulnerabilities, CFIUS and compliance frameworks, CFIUS and cyber risk and access control, and effective monitoring for CFIUS. Today, in Episode 2, I visit with Him Das on navigating the CFIUS process through proactive management and compliance solutions.
Highlights include:

  • What is CFIUS looking for?
  • How do you even begin a filing?
  • What compliance frameworks do you need to get through the process?
Categories
Innovation in Compliance

Navigating CFIUS Risk with Business Intelligence: Part 1-Identifying Threats and Vulnerabilities


Welcome to a  sponsored podcast series where I am exploring how to navigate risk from the Committee on Foreign Investment in the United States (CFIUS), sponsored by K2 Intelligence Financial Integrity Network (K2 Intelligence FIN). Over this five-part series I will visit with David Holley and Him Das the co-leads of CFIUS Advisory Practice at K2 Intelligence FIN. We will consider navigating the CFIUS process through proactive management, CFIUS and compliance frameworks, CFIUS and cyber risk and access control, and effective monitoring for CFIUS. Today, in Episode 1, I visit with David Holley on using business intelligence to identify threats and vulnerabilities under the CFIUS process.
Highlights include:

  • A broad overview of CFIUS
  • What role does business intelligence play?
  • What threats and vulnerabilities should be identified and mitigated?
Categories
FCPA Compliance Report

Quyen Truong on California’s Proposed Mini-CFPB: National Impact and Enforcement Threat


In this Episode, I visit with Quyen Truong, a partner at Stroock & Stroock & Lavan in Washington DC. In this podcast we discuss the firm’s recent article on the national impact of this proposed mini-CFPB, part of a major California’s major push to dominate the consumer protection landscape; and the key aspects of the proposed agency expansion, particularly the top enforcement threats facing the industry. Some of the highlights include:
Some of the highlights include:

  • An overview of the California proposal to create a mini-Consumer Financial Protection Bureau in California.
  • What types of businesses does the proposal cover?
  • What will be the role of the California Dept. of Business Oversight?
  • What are the similarities with the federal law and CFPB?
  • Could this law be expanded to B2B companies?
  • Could this law serve as a model for other states?
  • With the Trump Administration’s recent rollback on CFPB enforcement, will states likely take up the slack?

For a copy of the article California’s Mini-CFPB: National Impact and Enforcement Threat, click here.

Categories
Sunday Book Review

March 22, 2020, the Thriller edition


In today’s edition of Sunday Book Review:

  • The Holdout by Graham Moore
  • Pretty as a Picture by Elizabeth Little
  • Dead to Her by Sarah Pinborough
  • The Other Mrs. by Mary Kubica
Categories
Daily Compliance News

March 21, 2020-the Levandowski pleads guilty edition


In today’s edition of Daily Compliance News:

  • PG&E reaches deal with CA. gov. (NYT)
  • Levandowski pleads guilty to trade-secret theft. (Washington Post)
  • The palm oil industry and the FCPA. (WSJ)
  • Boards need to review succession plans. (WSJ)
Categories
31 Days to More Effective Compliance Programs

AI as a Competitive Advantage


One thing is certain going into 2020 and beyond is that technology that will improve the efficiency of compliance and will assist in the operationalization of compliance into fabric of every business which embraces it. I would posit that the compliance professional who incorporates the techniques they advocate into their organization’s compliance program will not only move their compliance program forward but also make their company run more efficiently and, at the end of the day, more profitably.
AI is a step which weds the human interaction and experiences with the data which is available to every company – its own internal information which is most generally sitting in siloed verticals and not being used. This data can provide the foundation for business research and risk-forecasting models and AI. When you couple this data with the insights into what humans do well or poorly; you can pair the best of these two seemingly disparate incongruities. Moreover, when a compliance function embraces the use of AI and embraces this human and technological approach for forecasting and risk assessments and then keeps improving their risk management techniques, it will create a sustainable strategic business, compliance and intelligence advantage over its competition.
Three Key Takeaways:

  1. Use the big data in your own organization.
  2. Break down silos to get the data.
  3. Using the data in your own organization will drive greater business efficiency and greater profitability.
Categories
This Week in FCPA

Episode 197 – the Compliance Doesn’t Sleep edition


While the coronavirus dominated the news this past week, compliance doesn’t sleep and neither did we. Self-distancing Tom and Jay are back to consider some of the other top compliance articles and stories which caught their eye this week.

  1. Compliance Week has a plethora of articles relating to Coronavirus. Aaron Nicodemus considers why ethics pays; Jaclyn Jaeger on designing a crisis management plan and Dave Lefort on why ethical leadership is even more critical now.
  2. Chilling from home? Dick Cassin offers some good compliance-related movies for socially distanced compliance professionals in the FCPA Blog.
  3. Revisiting inherent conflicts of interest. Jeff Kaplan in the Conflict of Interest Blog.
  4. Coronavirus is no excuse for not being vigilant. Kevin Abikoff and Mike Huneke in the FCPA Blog.
  5. Charles Middleton says we should stop blackballing whistleblowers. In CCI.
  6. What are MLATs and are they abused? Dave Michaels and Aruna Viswanatha in the WSJ Risk and Compliance Journal.
  7. Mike Volkov takes a deep dive into an Anti-Trust Compliance Program in a 3-part series on Corruption, Crime & Compliance. Part 1-Risk Assessments, Part 2– Ethical Culture and Monitoring, Part 3- Training and Speak Up and Reporting Systems.
  8. What’s the Board’s role in the coronavirus crisis? Jonathan Marks in the BoardandFraud Blog.
  9. Is Managerial Entrenchment Always Bad and Corporate Social Responsibility Always Good? In the Harvard Law School Forum on Corporate Governance.
  10. Reflections on the Golden Boy from Jay.
  11. On the Compliance Podcast Network, Tom opens a new month by looking at the role of innovation in compliance on 31 Days to a More Effective Compliance Program. This week saw the following offerings: Monday-the Digital Twin and P&L of One; Tuesday-Superforecasting; Wednesday-blockchain for compliance; Thursday-Design Thinking for compliance; Friday-AI as a competitive advantage. 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. This month’s sponsor is Affiliated Monitors, Inc.

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
Creativity and Compliance

Are You Corona-Cancelled? Be Creative!


Where does creativity fit into compliance? In more places than you think. Problem-solving, accountability, communication, and connection – they all take creativity. Join Tom Fox and Ronnie Feldman on Creativity and Compliance, part of the Compliance Podcast Network to explore these issues. Today’s episode asks has your compliance training has been Conrona-Cancelled? We provide some things you can create to supplement your routine training and communication. Some of the highlights include:

  • Create a virtual ‘Ethics and Compliance Live Show’ – a fun and entertaining way to communicate compliance topics.
  • What might a show consist of?
    • An original song;
    • An Opening Monologue;
    • A Top Ten list
    • An original skit around compliance;
    • Visit with the CCO about the skit;
    • Virtual Q&A; and
    • Closing compliance tune.
  • How about a Colbert-style show?
  • A Johnny Carson-style show?
  • A David Letterman-style show?
  • Always remember, you are only limited by your imagination.
  • Maintain Fun – Variety and Surprise. Novelty breads engagement. Need to constantly switch it up. Try lots of little things.
  • What are some of the additional pluses during this current time?
    • These formats are powerful mediums that can be digested in small increments when working remotely.
    • You can still make a personal connection.
    • You can still educate and make the training/communication interesting.
    • It can all be digested on the employees time.

Ronnie Feldman
Ronnie Feldman (LinkedIn)
Learnings & Entertainments (LinkedIn)
Ronnie Feldman (Twitter)
Learnings & Entertainments (Website)
60-Second Communication & Awareness Shorts – A variety of short, customizable, quick-hitter “commercials” including songs & jingles, video shorts, newsletter graphics & Gifs, and more. Promote integrity, compliance, the Code, the helpline and the E&C team as helpful advisors and coaches.
Workplace Tonight Show! Micro-learning – a library of 1-10-minute trainings and communications wrapped in the style of a late-night variety show, that explains corporate risk topics and why employees should care.
Custom Live & Digital Programing – We’ll develop programming that fits your culture and balances the seriousness of the subject matter with a more engaging delivery.