Categories
Daily Compliance News

December 26, 2019, the Boxing Day edition

In today’s edition of Daily Compliance News:

  • Lloyd’s of London hotline down for 18 months. (BBC)
  • How’s this for a Fat Cat meal-$7600 cost. (NYT)
  • New Boeing CEO to try and win over regulators. (WSJ)
  • Newest environmental risk-Trump on wind.  (Washington Post)
Categories
Compliance Into the Weeds

Continued Missteps and Misadventures in Ethics by Boeing

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 and I go into the weed over the ethical failings and missteps made by the now former Boeing CEO Dennis Muilenburg which led to his firing.
Some of the highlights include:

  • What are the three steps in cooperating with the government after a failure?
  • Why did Boeing fail to reveal negative information it uncovered in its internal investigation?
  • What is the role of a CEO around ethics?
  • What is the role of the Board of Directors?
  • What is the only control for a CEO around ethics?
  • What are the lessons learned for a corporate compliance program?
  • What does all this mean for compliance professionals going forward?

Resources
Matt’s blog post More Misadventures in Ethics From Boeing in Radical Compliance.

Categories
Daily Compliance News

December 24, 2019, the Muilenburg Fired edition

In today’s edition of Daily Compliance News:

  • SEC investigating BMW over sales punching. (NYT)
  • Boeing CEO Muilenburg fired. (NYT)
  • Is Malta corruption’s greatest ally? (Jacobin)
  • Pentagon wants US companies to build 5G network.  (FT)
Categories
FCPA Compliance Report

Episode 457-James Koukios on October MoFo’s International Anti-corruption developments

In the Episode, I visit with James Koukios, a partner at Morrison and Foerster in Washington DC. Koukios is a former prosecutor from the Department of Justice who worked in the FCPA Unit. He is back to discuss the firm’s monthly newsletter the Top 10 International Anti-Corruption Developments for October 2019.
Some of the highlights include:

  • The DOJ Issues Guidance on Corporate Inability-to-Pay Claims. We consider is this something new or codification of prior practices?
  • The Unaoil guilty pleas. Are they huge, even bigger than Panalpina?
  • The EU whistleblower initiative. Is this a sea change or something else? What might it mean for anticorruption enforcement?
  • OECD Expresses Concern over Brazil’s Foreign Bribery Enforcement. Has there been a change in Brazil enforcement or is this simply a part of the natural ebb and flow of enforcement actions?
  • Are things really going to heat up in Mexico in terms of investigations involving Pemex? Should US companies which have done business in Mexico be scrubbing their operations?

Resources
To see the firm’s Top 10 International Anti-Corruption Developments for October 2019, click here.

Categories
Daily Compliance News

December 23, 2019, the Why Does He Even Have a Job? edition

In today’s edition of Daily Compliance News:

  • Is anti-trust enforcement becoming more progressive? (NYT)
  • With all his missteps how does Boeing CEO Muilenburg even have a job? (NYT)
  • New risk for energy companies-banks cutting off funding. (WSJ)
  • SFO loses yet another trial.  (WSJ)
Categories
Daily Compliance News

December 22, 2019, the Sunday Book Review, the Design Thinking edition

In today’s edition of Sunday Book Review:

Categories
Daily Compliance News

December 21, 2019, the $2bn Settlement? edition

In today’s edition of Daily Compliance News:

  • French execs criminally convicted of causing worker suicide. (NYT)
  • Is Goldman close to a FCPA Settlement? (NYT)
  • Nine month swim by cyber-criminals in WaWa data. (NYC)
  • VW spanked by largest Australian fine ever.  (BBC)
Categories
This Week in FCPA

Episode 184 – the The Rise of Skywalker edition

Tom and Jay are awaiting their bookings to see the final installment in the 9-part series of the Star Wars saga. While waiting, they consider of this week’s top compliance and ethics stories which caught their collective eyes.
1.     Tim Leissner settles with the SEC. Dick Cassin. Tom takes a deep dive in the FCPA Ethics and Compliance blog.
2.     Aly McDevitt with two great articles on talks at CW Third Party Conference.
3.     Mexico getting serious about fighting corruption. Luis Dantón Martínez Corres in the FCPA Blog.
4.     Culture lessons from Coca Cola. Gary Patterson and Robert Baker in CCI.
5.     Jay looks at the expansion of the corporate integrity monitor, in CCI.
6.     Cyber enforcement and FTC expectations. Avi Gesser and Molly O’Malley Clarke in NYU’s Compliance and Enforcement blog.
7.     What is the intersection of corp oversight and disobidience? Elizabeth Pollman in the Harvard Law School Forum on Corporate Governance.
8.     How and why should you manage your corp culture? Jim DeLoach in CCI.
9.     New DOJ Cooperation Policy on Trade Sanctions and Export Control. Matt Kelly in Radical Compliance.
10.  Insurance to protect you from populism? Liam Fitzpatrick on the D&O Diary.
11.  On the Compliance Podcast Network, Tom and Jay celebrate the opening of The Rise of Skywalker with a five part podcast series on the intersection of Star Wars (IV-VIII) and compliance. In Part 1, A New Hope and Risk; in Part 2, The Empire Strikes Back and Due Diligence; in Part 3, The Return of the Jedi and Effective Training; in Part 4, The Force Awakens and Disruption in Compliance and in Part 5, The Last Jedi and BOD Role in Succession.
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.

Categories
Popcorn and Compliance

The Last Jedi and Board Succession

Board’s ability to “refresh itself on a regular basis can help ensure it maintains a proper mix of experience and expertise to meet the organization’s current and long term needs.” While noting that there is no ‘one-size-fits-all-approach’ to succession planning, you should have a plan.

  1. Examine the key corporate documents. The director nomination policy and any relevant policies setting out the appropriate protocols and procedures.
  2. Use an assessment framework. Base your criteria on organization needs and director performance.
  3. Conduct due diligence. Conduct an executive level due diligence background investigation.
  4. Maintain a pipeline. Maintain a pipeline of qualified candidates.
  5. Assess Board policies. Every Board should assess all policies around succession on a regular basis.
  6. Disclose your succession strategy. Both a large number of institutional investors and good corporate governance advocates suggest that companies disclose their Board of Director succession strategies. It provides greater transparency to stakeholders.
  7. Benchmark your succession strategy. Benchmark your succession strategy.
Categories
12 O’Clock High-a podcast on business leadership

Leadership Lessons from Super Pumped

I turn the tables on Richard Lummis this week as I interview him on the recent bestseller Super Pumped-the Battle for Uber by Mike Issac. Highlights of this podcast include:

  1. What were Kalanick’s leader failures?
  2. How did Trump’s first Muslim ban negatively impact Uber and start Kalanick’s downfall?
  3. What was the role of the Susan Fowler blog in the downfall of Kalanick
  4. What was the role of the Board and what were the Board missteps?
  5. What were the structural issues around stock ownership and how did they negatively impact corporate governance?
  6. Does Uber have a valid business model going forward?
  7. What is disruption and why can it be so powerful?