Podcast

2 Gurus Talk Compliance: Episode 26 – The Compliance Week Wrap Up Edition

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Post date April 12, 2024
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In this episode, Tom and Kristy take on a wide variety of compliance related topics.

The Compliance Week National Conference, a premier event in the field of compliance, offered a rich assortment of discussions and insights on various compliance topics, such as AI monitoring, risk assessment, and oversight of the Foreign Corrupt Practices Act (FCPA). Among the expert attendees were compliance professionals Tom and Kristy.

Tom highlighted the invaluable practical discussions led by practitioners, which had direct impact on compliance practices. He found the sessions on risk assessments and third-party risk management to be engaging and informative.

Similarly, Kristy found the conference sessions to be enlightening, notably a keynote on artificial intelligence and a workshop on leadership. She also valued the call for transparency in compliance roles, underscoring the conference’s ability to address recurring compliance challenges.

Both Fox and Grant-Hart’s perspectives were shaped by their extensive experiences and expertise in the field of compliance, highlighting the conference’s appeal to both veterans and newcomers alike.

Highlights Include:

1. Compliance Week Conference Roundup – Key thoughts, takeaways, and moments

2. Ericsson released from DPA. (WSJ)

3. SEC says self-reporting is critical. (WSJ)

4. Corruption with JFK taxi dispatchers. (NYPost)

5. No more late night messages from your boss—the Right to Disconnect. (WaPo)

6. Trafigura pleads guilty. (The Maritime Executive)

7. Inside the Russian Shadow Trade for Weapons Parts, Fueled by Crypto (WSJ)

8. Sam Bankman – Fried is still gambling (The Verge)

9. The Frustration of CCO Job Searches (Radical Compliance)

10. Florida man put car in cruise control, then partially stood up through sunroof while speeding, deputies say (FOX 35 Orlando)

Resources:

Kristy Grant-Hart on LinkedIn

Tom

Tags anti-corruption enforcement, compliance, corruption, Ericsson, FCPA, Florida Man, SBF, SEC

2 Gurus Talk Compliance

2 Gurus Talk Compliance – Episode 25 – The Never Go Away Edition

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Post date March 29, 2024
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What happens when two top compliance commentators get together? They talk about compliance, of course. Join Tom Fox and Kristy Grant-Hart in 2 Gurus Talk Compliance as they discuss the latest compliance issues in this week’s episode! In this episode, Tom and Kristy tackle various compliance-related topics.

Tesla’s corporate governance is under the spotlight, focusing on the company’s board independence and potential conflicts of interest. Fox has pointed out Elon Musk’s profound control over Tesla, suggesting that the lack of board independence and oversight may necessitate regulatory scrutiny, especially from the Securities and Exchange Commission (SEC). His perspective is rooted in his belief in the importance of corporate governance in protecting shareholder interests, and he raises questions about whether Musk’s leadership is aligned with the expectations of a public company CEO. Similarly, Kristy cites problems with board independence and potential conflicts of interest. She emphasizes the lack of governance within Tesla, particularly noting the court-nullified pay package granted to Musk, and suggests that the SEC may need to intervene even further. She, like Fox, implies that it may be time for Musk to step down and allow for better governance under the scrutiny of regulatory authorities.

Highlights Include

Warren wants the SEC to look into Tesla Board independence. (WSJ)
Goldman files a suit against Malaysia over 1MDB. (Bloomberg)
Mike Lynch finally goes on trial. (FT)
SEC settles first AI washing enforcement. (WSJ)
Adani Green says there is no DOJ investigation notice. (Bloomberg)
TikTok’s Fate Now Hinges on the Senate (WSJ)
The EU Corporate Sustainability Due Diligence Directive—March 2024 Update (JDSUPRA)
Survey: CCO Resources, Pressures Both Rising (Radical Compliance)
Data sharing causing concerns for drivers (WGRZ)
‘Not my fault the truck don’t surf’: Florida man arrested after driving car into the ocean (WFLA)

Resources

Kristy Grant-Hart on LinkedIn

Tom

Tags Adani Green, AI washing, CCO, FCPA, SEC, Tesla, TikTok

2 Gurus Talk Compliance

2 Gurus Talk Compliance – Episode 24 — The Self-Disclosure Edition

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Post date March 15, 2024
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The Department of Justice (DOJ) is launching a paid whistleblower initiative, specifically targeting cases of criminal exploitation of the U.S. financial system that slip through the cracks of existing agency schemes. This move has elicited various perspectives, notably from compliance experts Tom Fox and Kristy Grant-Hart. Fox, drawing on his extensive experience in compliance, identifies the program as a vital development, filling a gap in whistleblower compensation efforts. He anticipates that it will compel compliance officers to foster a culture of reporting and enhance efficiency in managing investigations. On the other hand, Kristy, a renowned compliance specialist, also views the initiative positively but expresses concerns about the increased pressure on organizations to ensure compliance.

Despite this, both experts agree that the program is a step in the right direction towards promoting transparency, accountability, and ethical corporate behavior.

Highlights Include:

1. DAG Monaco Speech (DOJ Release)

2. Nicole M. Argentieri Speech (DOJ Release)

3. CTA struck down (WSJ)

4. Leadership Lessons from Robert Oppenheimer (WSJ)

5. State governments move to regulate AI (NYU)

6. The Percentage Of Corporate DOJ And SEC FCPA Enforcement Actions That Result From A Voluntary Disclosure (FCPA Professor)

7. Husband Who Eavesdropped on Wife’s Work Calls Pleads Guilty to Insider Trading (WSJ)

8. SEC Adopts Climate Disclosure Rule (Radical Compliance)

9. Is It Ever OK to Have an 8 a.m. Meeting? (WSJ)

10. The Florida Man Games (NYTimes)

Resources:

Kristy Grant-Hart on LinkedIn

Tom

Tags AI, CTA, DAG Lisa Monaco, DOJ, Florida Man, insider trading, SEC, self disclosure

2 Gurus Talk Compliance

2 Gurus Talk Compliance – Episode 23 — The Sustainability Edition

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Post date February 23, 2024
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In the ever-evolving world of regulatory compliance and risk management, challenges are constant, and strategies must be dynamic. Tom highlights the focus on the Tesla Board, celebrates the OECD at 25, bemoans New Zealand’s drop in the TI-CPI, reviews the HP acquisition of Autonomy and looks at the differences in Binance and FTX enforcement. Kristy highlights the slave labor allegations, EU sustainability law, the ease of whistleblower restrictions, the EU and AI, and checks in on Florida Woman. Join Tom Fox and Kristy Grant-Hart as they delve deeper into these issues in this episode of the 2 Gurus Talk Compliance podcast.

Topics Discussed:

1. Chinese Slave Labor Allegations Hold Up VW’s Audi, Porsche, and Bentley Vehicles in U.S. Ports (MotorTrend)

2. EU Corporate Sustainability Due Diligence Law Most Likely Dead, For Now (Forbes)

3. US Supreme Court’s UBS case makes it easier for whistleblowers to win suits (Reuters)

4. How EU AI Act May Accelerate Compliance Regime for U.S. Enterprises (WSJ)

5. The Tesla Board Chair is under scrutiny for oversight of the company. (NYT)

6. A tale of 2 corps: Binance and FTX. (Reuters)

7. OECD at 25. (The Hill)

8. No DD, no problem as HP seeks $4bn from Mike Lynch. (Bloomberg)

9. New Zealand drops to No. 3 on TI-CPI. (The Conversation)

10. Woman swipes $1.5 million and splurges on flights, Carnival cruises, Florida cops say (Yahoo)

Resources

Kristy Grant-Hart on LinkedIn

Tom

Tags AI, DD, Due Diligence, EU, HP-Autonomy acquisition, OECD, Slave labor, sustainability, Tesla, TI-CPI

2 Gurus Talk Compliance

2 Gurus Talk Compliance: Episode 22 – FCPA Blog Tribute

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Post date February 9, 2024
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In the ever-evolving world of regulatory compliance and risk management, challenges are constant, and strategies must be dynamic. Tom highlights the corruption in Ukraine, Elon Musk loses $55bn and throws a tantrum, and why Brazil wants to punish Transparency International. Kristy highlights the DEI, how to fire employees, remote workforce challenges for a CCO and checks in on Florida Man. Join Tom Fox and Kristy Grant-Hart as they delve deeper into these issues in this episode of the 2 Gurus Talk Compliance podcast.

Highlights Include:

1. FCPA Blog announces its closing. (FCPA Compliance & Ethics Blog)

2. A massive corruption scandal was uncovered in Ukraine. (CNN)

3. Musk’s $55bn pay package is voided and he wants to move to Texas. (WSJ)

4. An Ecuadorian official got a $70,000 watch as a bribe. (Bloomberg)

5. Brazil goes after TI for its CPI. (FT)

6. Firing employees the right way is part of compliance (FCPA Blog)

7. Mark Cuban Doubles Down on Support for DEI After Trading Barbs With Anti-Diversity Crusader Elon Musk (Inc.com)

8. Remote Workforces Create New Challenges for Investigators and Compliance Officers (NAVEX)

9. New Jersey and New Hampshire Pass Comprehensive Privacy Legislation (Inside Privacy/Covington)

10. Florida man steals Snoop Dogg’s bobblehead but later has change of heart (Local 10 News)

Resources:

Kristy Grant-Hart on LinkedIn

Tom

Tags Brazil, CCO, compliance, corruption, Elon Musk, FCPA Blog, RTW, TI

2 Gurus Talk Compliance

2 Gurus Talk Compliance – Episode 21 — Big Trouble in China Edition

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Post date January 26, 2024
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In the ever-evolving world of regulatory compliance and risk management, challenges are constant, and strategies must be dynamic. Tom highlights corruption in China, data privacy, the duty of oversight for officers and export control sanctions. Kristy highlights the ESG & DEI, Supply Chains and China, SAP, frequent flyer mile fraud and checks in on Florida Man. Join Tom Fox and Kristy Grant-Hart as they delve deeper into these issues in this episode of the 2 Gurus Talk Compliance podcast.

Highlights Include:

First Shots Fired in 2024 Proxy Battle Over ESG, DEI: (Law.com)
Enforcement of China’s Forced Import Ban Needs to Be Much Tougher, Say U.S. Lawmakers (WSJ)
Lessons Learned from the SAP Enforcement Action: DOJ Changes Tack on FCPA Enforcement While SEC Digs into Third-Party Controls (Part III of III) (Corruption, Crime & Compliance)
Frequent flyer miles helped authorities crack down on a $127 million money laundering scheme (The Street): HERE
Analysis of failure to exercise duty of oversight by a corporate officer. (FCPA Compliance & Ethics Blog)
McDonald’s Duty of Officer oversight. (Compliance and Enforcement)
China and its fight against corruption. (Reuters)
Big penalties are coming for export control and sanctions enforcement. (WSJ)
A federal data privacy law in 2024? (CCI)
Florida man uses phone he found in Walmart bathroom to call in fake bomb threat, cites TikTok trend: deputies (FOX Orlando)

Resources:

Kristy Grant-Hart on LinkedIn

Tom

Tags China, DE&I, Duty of Oversight, ESG, Export Control, FCPA, Florida Man, SAP

2 Gurus Talk Compliance

2 Gurus Talk Compliance – Welcome to 2024 Edition

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Post date January 13, 2024
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In the ever-evolving world of regulatory compliance and risk management, challenges are constant, and strategies must be dynamic. Tom highlights the SFO, culture assessments, Key Board issues for 2024 and the McDonald’s Doctrine. Kristy highlights the new law, FEPA, Supply Chains, AI, and checks in on Florida Man. Join Tom Fox and Kristy Grant-Hart as they delve deeper into these issues in this episode of the 2 Gurus Talk Compliance podcast.

Highlights Include:

U.S. Prosecutors Can Charge Foreign Officials With Bribery Under New Provision (WSJ)
New Actions from the White House Highlight the Difficulty of Tracing Forced Labor in Supply Chains (Supply Chain Brain Blog)
Maryland looks to harness AI for government use with executive order (Washington Post)
WorkLife’s definitive guide to what’s in and out for 2024 (WorkLife)
Analysis of failure to exercise duty of oversight by a corporate officer. (D&O Diary)
Key Board issues for 2024. (Compliance and Enforcement)
Are emojis evil? (FCPA Blog)
SFO hammered in the ENRC report. (WSJ)
Why do you need to do a culture assessment? (CCI)
Florida woman sues Hershey for $5 million over ‘deceptive’ Reese’s packaging (ABC News)

Resources:

Kristy Grant-Hart on LinkedIn

Tom

For more information on Ethico and a free White Paper on top compliance issues in 2024, click here.

Tags AI, Board of Directors, BOD, DOJ, FEPA, Florida Woman, Supply Chain, Workplace

2 Gurus Talk Compliance

2 Gurus Talk Compliance: Episode 19 – The Holiday Edition

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Post date December 15, 2023
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In the ever-evolving world of regulatory compliance and risk management, challenges are constant and strategies must be dynamic. Tom highlights recent SEC pronouncements on culture and takes a look back at Serpico and the Salt Lake City Olympic scandal. Kristy highlights AI regulation in the EU and US, talks about the need for employees to have some time off, and checks in on Florida Man. Join Tom Fox and Kristy Grant-Hart as they delve deeper into these issues in this episode of the 2 Gurus Talk Compliance podcast.

Highlights Include:

SEC Chief Accountant on what bothers him. (WSJ)
Using onboarding as a corporate culture set. (FCPA Blog)
Serpico at 50. (The Guardian)
Salt Lake City Olympic corruption scandal, 25 years later. (Salt Lake Tribune)
Carrot and Stick in new M&A Safe Harbor (Compliance and Enforcement)
SEC Kicks Climate Rule to 2024 (Radical Compliance)
In Landmark Vote, Europe Approves AI Regulations–Paving the Way for U.S. Adoption (Inc.com)
SEC Head Warns Against ‘AI Washing,’ the High-Tech Version of ‘Greenwashing’ (WSJ)
Employees Need Time Off. Here’s How to Craft a Successful Policy. (Bamboo HR)
Florida man faces charges after driving ‘BOOTY PATROL’ truck (ClickOrlando News)

Resources:

Kristy Grant-Hart on LinkedIn

Tom

Tags AI, corporate culture, corruption, Florida Man, onboarding, SEC, Serpico, time off

2 Gurus Talk Compliance

2 Gurus Talk Compliance – The Disturbing Edition

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Post date December 1, 2023
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What happens when two top compliance commentators get together? They talk compliance of course. Join Tom Fox and Kristy Grant-Hart in 2 Gurus Talk Compliance as they discuss the latest compliance issues in this week’s episode! In this episode, Tom and Kristy take on a wide variety of topics including Florida Woman gone astray.

In the ever-evolving world of regulatory compliance and risk management, challenges are constant and strategies must be dynamic. Tom highlights recent FCPA enforcement actions and a Declination. Kristy highlights the criminal enterprise that was Binance and the role of its former CCO, asks why employees are so miserable, and checks in on Florida Woman. Join Tom Fox and Kristy Grant-Hart as they delve deeper into these issues in this episode of the 2 Gurus Talk Compliance podcast.

FCPA enforcement actions involving UK Reinsurers. FCPA Blog
Compliance Officers feeling regulatory heat. Compliance Week
Why you should be very wary of forever chemicals. CCI
Lifecore receives declination. Pryor Cashman
ABC insights from Sierra Leone GAB
‘I am personally disturbed’ by FDIC harassment allegations: Gruenberg Yahoo Finance
Binance Penalties Include a Number of Crypto Industry Firsts WSJ
Kristy’s new book has been published! Your Year as a Wildly Effective Compliance Officer
Why Is Everyone So Unhappy at Work Right Now? WSJ
Florida woman with outstanding warrants busted after calling cops to report stolen weed worth $5. New York Post

Resources

Kristy Grant-Hart on LinkedIn

Tom

Tags Binance, CCO, compliance programs, Compliance Week, declination, FCPA

2 Gurus Talk Compliance

2 Gurus Talk Compliance – Episode 18 — Florida Man Games

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Post date November 10, 2023
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What happens when two top compliance commentators get together? They talk compliance of course. Join Tom Fox and Kristy Grant-Hart in 2 Gurus Talk Compliance as they discuss the latest compliance issues in this week’s episode! In this episode, Tom and Kristy take on various topics including the state image of Florida Man.

In the complex world of corporate governance, the issues of corporate misconduct, leadership accountability, and professional productivity are of paramount importance. Tom emphasizes the need for thorough due diligence when appointing leaders, particularly those with a history of misconduct. He also advocates for detailed record-keeping as a tool for managing workload and enhancing productivity. Kristy echoes these sentiments, highlighting the significance of ethical leadership and effective compliance measures. She also offers practical strategies for dealing with workplace challenges such as micromanagement and office politics. Join Tom Fox and Kristy Grant-Hart as they delve deeper into these topics in this award-winning 2 Gurus Talk Compliance podcast episode.