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Everything Compliance

Episode 52-Greenland Purchase Edition

Welcome to the only roundtable podcast in compliance. Today, we have a quartet of Jay Rosen, Matt Kelly, Sarah Hadden and Mike Volkov. We focus on the President Trump’s putative initiative to purchase the country of Greenland. We consider the proposed purchase from the compliance perspective. Rants and shouts outs follow the commentary for this episode.
  1. Mike Volkov considers the proposed purchase through the lens of Mergers and Acquisitions under the FCPA. He also highlights the 2018 amendment to the FCPA Corporate Enforcement Policy on safe harbor in M&A under the FCPA. Volkov is not sure if he is shouting out to the Business Roundtable for their Statement on the Purpose of a Corporation or ranting about the Business Roundtable’s ‘profound grasp of the obvious” in releasing the Statement.
  2. Jay Rosen follows up on Mike’s FCPA analysis in considering how someone might look at the sale in assessing the culture of Greenland and how it would fit into the acquirer’s portfolio of purchased territories. Rosen shouts out for America to ‘get Spicy’ as former White House Press Secretary (when there was such a position) Sean Spicer joins Dancing with the Stars.
  3. Sarah Hadden considers how a journalist might cover the proposed purchase. She also weighs in as the Publisher of Corporate Compliance Insights on the types of compliance related stories she sees from the proposed purchase. Hadden shouts out for unplugging.
  4. Matt Kelly considers the proposed purchase from the internal controls and SEC reporting perspective. Kelly comes in hot to blast the Business Roundtable over its Statement on the Purpose of a Corporation.
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.
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Trekking Through Compliance

The Science of Star Trek-The Naked Time and Warp Drive

Welcome to the Science of Star Trek, a podcast series inspired by my review of Star Trek, the Original Series in the summer podcast special series Trekking Through Compliance.In this series I am joined by Astrophysicist and  Healthcare Futurist Ben Locwin. In this podcast we consider the TOS episode The Naked Time as a starting point for the consideration of the science around the warp drive.
A landing party from the Enterprise beams aboard Psi 2000, an ancient planet about to break up. They find all six of the crew manning the station dead. Crewman Joey unwisely removes his gloves is contaminated by a red liquid. As Psi 2000 shows a shift in magnetic field and mass, the Enterprise begins a close orbit requiring constant vigilance. Unfortunately, an infected Lt. O’Reilly has turned off the warp engines. To restart the warp engines, matter and antimatter must be mixed in a controlled implosion. However, after mixing matter and antimatter at a colder than recommended temperature according to an untested intermix formula, the Enterprise is thrown into a time warp which causes the chronometer to run backwards. This allows the Enterprise to escape the breakup of the planet, returning it 71 hours into the past and therefore before any of the episode’s events took place.
Highlights include:

  1. Why must you suspend your disbelief for this episode?
  2. How would a warp drive work in practice?
  3. Why does E=MC²control this issue?
  4. What is antimatter?
  5. What is the time wise effect on high speed travel?
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Daily Compliance News

August 28, 2019- the ‘Did he just say that?’ edition

In today’s edition of Daily Compliance News:
  • Former Uber engineer charged with theft of trade secrets. (NYT)
  • Deutsche Bank has Trump tax returns. (WSJ)
  • Will Perdue Pharma settle in Bankruptcy Court? (Reuters)
  • Lowe’s EVP puts big foot in wide open mouth. (WSJ)
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Great Women in Compliance

Danette Joslyn-Gaul on Effective Leadership and Growing a Compliance Community

In this week’s Great Women in Compliance Podcast, Lisa interviews Danette Joslyn-Gaul, Vice President of Global Compliance and Associate General Counsel at Pearson.   This episode is also sponsored by Corporate Compliance Insights.
In April of this year, Lisa joined Pearson as the Director, Compliance for the Americas.  When Lisa learned about the role, she started researching the company, and Danette.  Danette had been shortlisted for the Women in Compliance awards, both in her individual capacity and for the compliance team.  This was one of the things that made this such a great opportunity for Lisa, and as you will hear in the podcast, it is one great example of the connections that are built in compliance teams and in the compliance community as a whole.
In particular, Danette talks about how she became interested in this compliance role while at Pearson, and how her involvement in compliance grew from a perception of compliance as primarily gifts and hospitality, to a fully-formed ethics and compliance program. She discusses one of the team’s first major initiatives – a global third-party due diligence project, and the support she received from Pearson leadership and the Board.  This project spanned the entire globe, and is a model for a due diligence initiative.
Danette is based in Atlanta, Georgia, and leads a team where many team members are in different locations or remote (and none in Atlanta).  She discusses her approach to leading this type of team, and how she helps the team to evolve and grow in a time of change within the company and global compliance challenges.
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Compliance Into the Weeds

Debating the Statement on the Purpose of a Corporation

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 weeds to discuss our views on the Business Roundtable’s recently released Statement on the Purpose of a Corporation.
Some of the highlights include:

  • Tom believes it is an important first step to consider the various stakeholders in a business enterprise.
  • Matt has a bit more cynical view of the document.
  • Matt is concerned that the Statement does not have the force of law and indeed may be antithetical to corporate law.
  • Matt is suspicious of the timing of the Statement.
  • Tom believes it provides a playbook for both corporations and lawmakers in the debate going forward.

For additional reading see Tom’s blog post Statement on the Purpose of a Corporation and What it Means for the Compliance Professional on the FCPA Compliance Report.

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Trekking Through Compliance

The Science of Star Trek-Where No Man Has Gone Before and Phasers

Welcome to the Science of Star Trek, a podcast series inspired by my review of Star Trek, the Original Series in the summer podcast special series Trekking Through Compliance.In this series I am joined by Astrophysicist and  Healthcare Futurist Ben Locwin. In this podcast, we consider the TOS episode Where No Man Has Gone Before as a starting point for the consideration of the science around the phaser.
The Federation starship Enterprise is on an exploratory mission to leave the galaxy. At the edge of the galaxy, the ship it encounters a strange barrier which damages the ship’s systems and warp drive, forcing a retreat. At the same time, nine crew members are killed and both helmsman Gary Mitchell and ship’s psychiatrist Dr. Elizabeth Dehner are knocked unconscious by the barrier’s effect. When he awakens, Mitchell’s eyes glow silver, and he begins to display remarkable psychic powers. Alarmed that Mitchell may take over the Enterprise, Kirk decides to maroon him at an unmanned lithium-cracking facility on the remote planet of Delta Vega. Once there, the landing party tries to confine Mitchell, but his powers have become too great. Kirk follows with a phaser rifle, the only time in the Original Series it was seen. Kirk uses the phaser rifle to create a rockslide, killing Mitchell.
Highlights Include:
  1. Why are there phasers being used today?
  2. Why is air the biggest problem in creating a phaser?
  3. How can you aim and shoot at a target using a phaser?
  4. How do you deal with the energy lose?
Categories
Integrity Factor

What Law School Didn’t Teach Me-an Interview with Tanja Gromadzki, JD, MBA

Welcome back to another episode of Integrity Factor with AP Capaldo and Marcia Narine Weldon. In today’s episode, we are navigating the various aspects of compliance and the compliance profession that we wish law school had prepared us for. In the first part of this continuing series, we engage in a dialogue as a group representing various career stages to discuss some of the areas law schools could play a larger role in proactively to educate the next generation of compliance professionals.
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Innovation in Compliance

Automating Compliance with Jeff Kushner


Jeff Kushner, Chief Marketing Officer at Allgress, speaks with Tom Fox about what companies should look for in a platform to innovate and automate the compliance function. Allgress provides an integrated solution that automates risk and compliance management with simplicity and quick time to value. Jeff talks about the challenges businesses face with regard to the compliance function and how Allgress can help.

The Biggest Compliance Challenges
Keeping pace with workflows, processes and requirements often leads to constant firefighting, fines, increased costs, and loss of accountability. These issues stem from the use of manual methods in the compliance function. Many companies do not quite understand how automation can help. Requirement changes and reporting remains the biggest challenge: compliance challenges continue to rise and so too personal liability of compliance staff and executives. Reducing business risk with innovation has become a top priority for organizations, in order to manage rapid changes and identify potential impact before it’s too late.
A Good Automated Compliance Solution
Jeff describes a good automated solution as a comprehensive one that allows you to easily collect, analyze, communicate, remediate, or accept compliance risk with the least amount of manual effort. Various data sources can be correlated and represented in an integrated dashboard, so that you can assess your compliance risk posture; and when changes occur, you can take action in time to create the least impact on your business. Other features of a good solution include:

  • Continuous updates and change tracking;
  • Ready to use standards, regulations, and frameworks which can be modified for your specific requirements;
  • Standard to standard mapping, also called checking once and complying with many requirements.

Allgress is Such a Solution
Jeff comments that Allgress is such a solution. It is a single platform that integrates the entire process of compliance management, risk analysis, and third-party vendor management, among other functions. Allgress allows businesses to achieve customer value in a few weeks vs. months. It is also modular so you can add the functions you need as you need them.
Resources
Allgress.com
info@allgress.com
888-264-1677

Categories
Daily Compliance News

August 27, 2019-J&J spanked edition

In today’s edition of Daily Compliance News:

  • Hungary investigating Microsoft bribery allegations. (ABC News)
  • J&J hit with $500MM+ award over opioid crisis . (NYT)
  • CFTC Chairman to answer to court. (WSJ)
  • DOJ puts pen to paper in opioid crisis (they just call it data analytics). (WSJ)
Categories
Trekking Through Compliance

The Science of Star Trek–Mirror Mirror and Transporters

Welcome to the premier of the Science of Star Trek, a podcast series inspired by my review of Star Trek, the Original Series in the summer podcast special series Trekking Through Compliance.In this series I am joined by Astrophysicist and  Healthcare Futurist Ben Locwin. In this podcast we consider the TOS episode Mirror Mirror as a starting point for the consideration of the science around the transporter.
 In this episode, a landing party Kirk, McCoy, Scotty, and Uhura beams back up to the Enterprise. Interference from an ion storm, however, causes them to be transported into a parallel universe and a mirror image Enterprise. Now aboard the Imperial Starship Enterprise, the landing party discovers crew members who are mirror images of themselves and belong to an evil Federation known as the Empire. Their first experience is the torture of transporter operator Mr. Kyle with an agonizer for his alleged failure to beam the landing party up quickly enough. Immediately, Kirk realizes that a mirror image landing party must have been beamed aboard the real U.S.S. Enterprise.
Kirk, Uhura, McCoy, and Scotty impersonate their mirror image counterparts while finding a way to return to their universe. When Kirk and the party return, they find that their Empire counterparts were immediately recognized and put in detention. The Enterprise’s crew attributes this to the fact that it is easier for logical men to appear barbarous than for barbarous men to appear civilized.
Highlights include:
  1. Quantum transportation of information.
  2. While we cannot yet teleport, we can recreate.
  3. How does the telegraph signal explain this science used in Star Trek?
  4. What about the radio signals from the Apollo moon flights?