Welcome to “Compliance Tip of the Day,” the podcast where we bring you daily insights and practical advice on navigating the ever-evolving landscape of compliance and regulatory requirements.
Whether you’re a seasoned compliance professional or just starting your journey, our aim is to provide you with bite-sized, actionable tips to help you stay on top of your compliance game.
Join us as we explore the latest industry trends, share best practices, and demystify complex compliance issues to keep your organization on the right side of the law.
Tune in daily for your dose of compliance wisdom, and let’s make compliance a little less daunting, one tip at a time.
In today’s episode, we consider why and how compliance training still bedevils many compliance professionals and end-users.
For more information on the Ethico ROI Calculator and a free White Paper on the ROI of Compliance, click here.
Welcome to the Daily Compliance News. Each day, Tom Fox, the Voice of Compliance, brings you compliance-related stories to start your day. Sit back, enjoy a cup of morning coffee and listen to the Daily Compliance News. All from the Compliance Podcast Network.
Each day, we consider four stories from the business world: compliance, ethics, risk management, leadership, or general interest for the compliance professional.
John B. Quinn is the founder and chairman of the nearly four-decade-old Los Angeles law firm Quinn Emanuel Urquhart & Sullivan. The firm has been voted the world’s “most-feared law firm“ ten times by independent research provider BTI Consulting, which surveyed over 300 key legal decision-makers at the world’s largest organizations.
In BTI’s annual survey, when respondents were asked which law firm they least wanted to face as opposing counsel, Quinn Emanuel consistently ranked number one as the world’s most feared litigation law firm.
Since 1986, John and his partners have tirelessly built the largest law firms in the world devoted solely to business litigation and arbitration – a feat recognized by The Wall Street Journal as a “global litigation powerhouse.“ In that time, Quinn Emanuel has expanded to 35 offices in 12 countries on four continents, with over 1100 lawyers, generating more than $2 billion in revenue annually. In recent years, the firm has recovered over $80 billion for plaintiffs, a testament to John’s unwavering dedication to his profession.
John’s interests extend beyond the legal realm. For 33 years, he served as General Counsel to the Academy of Motion Picture Arts and Sciences, the organization behind the Oscars. He is also an avid mountain climber, Ironman triathlete, and father of five. His diverse pursuits reflect his multifaceted personality and provide a unique perspective to his legal career. He also hosts the popular podcast “Law, Disrupted”—www.law-disrupted.fm.
In this episode of Regulatory Ramblings, he chats with host Ajay Shamdasani about how he found his way into the legal profession, his representation of the Bank of China, Alibaba, AliPay, and Ant Financial—juggernauts on the mainland Chinese banking and fintech / digital payments scene—and his belief in Singapore’s importance as a dispute resolution center for the Asia-Pacific. He also comments on how Hong Kong stacks up against the Lion City.
The conversation also covers the business rationale for Quinn Emanuel Urquhart’s focus on pure litigation and for not representing the world’s largest money center banks, notwithstanding the deep pockets for premium legal services that the world’s most prominent financial institutions possess. This approach has won the firm many plaudits amongst the plaintiffs’ bar writ large.
John also shares his candid thoughts on Environmental, Social, and Governance (ESG) concerns at a time when such considerations in corporate operations and investing are under attack—often from prominent business figures. He also comments on what can be done on the policy and legal reform level to lure more foreign direct investment to the Middle East and Asia Pacific.
The discussion concludes with John emphasizing his commitment to the arts and philanthropy. He believes in giving back to society when one attains a certain level of success. His longstanding service to the Academy of Motion Picture Arts and Sciences and his initiative to open the Museum of Broken Relationships in Los Angeles are just a few examples of his dedication to philanthropy, which the audience can appreciate.
Podcast Discussion:
2:41 From Greenwich to Harvard: A Lawyer’s Path
5:07 The Competitive Nature of Litigation: Balancing Aggression and Strategy
6:52 Banking and Fintech in China – Insights
8:41 Litigation as a Last Resort: The Role of ADR and Mediation
10:35 Expanding in Singapore: Strategic Growth in International Arbitration and Regional Markets
14:57 Choosing Litigation Over Representing Major Banks
20:04 Do Investors Understand ESG? Challenges and Definitions
25:38 Common Law vs. Civil Law: Perspectives on Legal Systems and Business Growth
27:46 Passion for the Arts and Giving Back
31:57 Faith in L.A.: Embracing the Lifestyle Amid Economic Challenges
34:34 The Hollywood Incident: Will Smith and Chris Rock in the Spotlight
37:15 The Intersection of Law and Life: The Importance of Broad Interests in Litigation
39:51 The Best Preparation for Becoming a Lawyer
43:01 The Importance of Verbal Skills and Writing in Legal Practice
45:45 Burnout: Recognizing When Law Isn’t the Right Fit
In this episode of The Ethics Experts, Nick welcomes Christopher Marquis.
Christopher Marquis is the Sinyi Professor of Chinese Management at the University of Cambridge and author of The Profiteers: How Business Privatizes Profits and Socializes Costs. His research examines business sustainability and social entrepreneurship, and he has written two prior award-winning books, including Better Business: How the B Corp Movement Is Remaking Capitalism and Mao and Markets: The Communist Roots of Chinese Enterprise.
Over the last ten years, we have seen a marked shift from the Delaware Chancery Court chipping away at corporate board member liability claims.
In a number of seminal cases involving Boeing airplane crashes (In re the Boeing Co. Derivative Litig., No. 2019-0907 (Del. Ch. Sept 7, 2021)) and deadly listeria outbreaks from tainted ice cream (Marchand v. Barnhill, 212 A.3d 805 (Del. 2019)), Delaware Courts have upheld plaintiffs’ cases against claims of failing to adequately plead violations of the standards set forth in Caremark, 698 A.2d 959 (Del. Ch. 1996) (establishing basic pleading requirements to withstand motions to dismiss).
In this episode, Mike Volkov provides a comprehensive update on the recent Caremark decisions issued by the Delaware Chancery Court, underscoring their importance for accountability and governance in the corporate world.
Caremark oversight duties stem from the well-established duty of loyalty and its subsidiary duty of good faith. To plead a Caremark claim, a plaintiff is required to put forth adequate facts from which a factfinder can make a reasonable inference that the fiduciary acted in bad faith.
Under Caremark, bad faith can be established when a fiduciary: “(1) utterly fail[s] to implement any reporting or information system or controls,” or (2) having implemented such a system or controls, consciously fails to monitor or oversee its operations, which results in a failure to act or attend to a risk or problem requiring their attention or response.
Last year, the Chancery Court made a groundbreaking decision, extending the so-called Caremark oversight obligations and governance requirements to senior management in the McDonald’s case. In re McDonald’s Corp. Shareholder Derivative Litig., 289 A.3d 343 (Del. Ch. 2023). This ruling is one of the most significant developments in recent years, advocating for increased accountability for oversight and governance failures.
Recent cases, such as the Boeing 737 MAX crashes and the Listeria outbreak from tainted Blue Bell ice cream, have highlighted failures in proper board governance and oversight responsibilities.
In a case involving Segway, the Chancery Court dismissed a motion against an officer for failing to detect financial discrepancies, emphasizing the need to demonstrate a lack of good faith in monitoring central compliance risks.
The trend in Delaware Chancery Court decisions is moving towards holding directors and officers accountable for failures to act in response to indications of potential illegal conduct, with a focus on bad faith actions.
The Boeing case exemplifies the consequences of board members ignoring safety concerns and focusing solely on the bottom line, leading to tragic outcomes that could have been prevented with proper oversight and accountability.
Welcome to the 25th episode of Riskology by Infortal!
In the 25th episode, Tom Fox joins hosts Dr. Ian Oxnevad and Christopher Mason to discuss the importance of strategic global risk management as geopolitical tensions rise and shifting alliances shape both international and domestic markets.
From Europe to Southeast Asia and the Middle East, global conflict has not only reshaped markets but also presented numerous challenges for businesses operating internationally. Companies are now compelled to consider geopolitics in their strategic planning processes, recognizing the potential risks to operations, supply chains, and market access.
The Riskology crew explores the strategies businesses can employ to navigate global challenges. From comprehensive geopolitical risk assessments and supply chain diversification to leveraging technology for resilience, they discuss how businesses can develop strategic solutions to mitigate operational risks.
They also discuss the significant transformations happening globally and their implications for corporate compliance teams and businesses at large. This includes examining how current global conflicts are impacting corporate compliance strategies.
One key element to assessing the current global risk landscape is conducting the right level of due diligence on your operations, supply chains, and global business partners. Importantly, deep level due diligence can not only help companies avoid unnecessary risk but can also uncover efficiency gains and process improvements.
This episode concludes with insights on how companies can invest in innovation for future readiness, enhance operational flexibility, and build organizational agility in this world marked by perpetual change and uncertainty.
In the Sunday Book Review, Tom Fox considers books that would interest the compliance professional, the business executive, or anyone who might be curious.
It could be books about business, compliance, history, leadership, current events or anything else that might interest me.
In today’s edition of the Sunday Book Review, we look at some of the top business books for May 2024.
The Problem with Change by Ashley Goodall
The Venture Mindset by Alex Dang and Ilya Strebulaev
Get Better at Anything by Scott H. Young
The Profiteers by Christopher Marquis
For more information on Ethico and a free White Paper on ROI for your compliance program, click here.
Get ready for an exciting new season of Because That’s What Heroes Do. In this season, they take a deep dive into their favorite 15 episodes of Deep Space 9.
In this exploration, they are joined by DS9 maven Alex Murphy, (Murphy) from Montreal, who is a local historian, cinema, and TV fan with a love for weird foreign films, all things horror, and obscure media. He has been watching Trek since he was a tiny punk, and it’s been a lifelong love. Don’t miss out on the exciting new season of Because That’s What Heroes Do!
We begin a 2-part look at the opening trilogy from Season 2. In this episode, we review the episode Homecoming.
We discuss the compelling nature of these episodes, highlighting their significance in terms of world-building, character development, and their departure from traditional Star Trek storytelling. They emphasize the episodes’ exploration of complex themes such as PTSD, racism, and the moral grey areas faced by characters.
The conversation covers the intricacies of Bajoran politics, the allegiances within the crew, and the nuanced portrayal of various characters, particularly Kira Nerys and Quark. The episodes’ role in establishing DS9’s identity as a series that stands apart from other Star Trek series, with a darker tone and a focus on serialized storytelling, is also discussed.
They touch upon the broader implications for the DS9 universe, including the Federation’s relationship with Bajor and the character dynamics that enrich the narrative. Through their discussion, the hosts elucidate the episodes’ contribution to the overarching narrative of DS9 and the Star Trek universe.
Key Highlights and Themes:
Diving Into the Depths of DS9’s Unique Trilogy
Exploring the First Three-Part Episode in Star Trek History
Character Dynamics and World Building in DS9
The Complexities of Bajoran Politics and Federation Values
The Controversial Rescue of Lee Nollis and Its Implications
Welcome to 10 For 10, the podcast that brings you the week’s top 10 compliance stories in one podcast each week.
Tom Fox, the Voice of Compliance, brings to you, the compliance professional, the compliance stories you need to be aware of to end your busy week.
Sit back, and in 10 minutes, hear about the stories every compliance professional should be aware of from the prior week.
Every Saturday, 10 For 10 highlights the most important news, insights, and analysis for compliance professionals, all curated by the Voice of Compliance, Tom Fox.
Get your weekly filling of compliance stories with 10 for 10, a podcast produced by the Compliance Podcast Network.
Can shareholders criticize companies (without being sued)? (WSJ)
Brazil Supreme Court throws out Car Wash convictions.(FT)
Prosecutorial misconduct eviscerates Fat Leonard convictions.(WaPo)
First declination in the export control case. (WSJ)
Welcome to the Kerrville Weekly News Roundup. Each week, veteran podcaster Tom Fox and his colleagues Andrew Gay and Gilbert Paiz get together to go over a couple of their favorite stories from the past week from Kerrville and the greater Hill Country.
Sit back, enjoy a cup of morning coffee and listen in to get a wrap up of the Kerrville Weekly News.
We each consider two of our favorite stories and talk about the upcoming weekend’s events, which will enjoy or participate in.
In this episode, Tom and Andrew are back to look at some of the which caught his attention over the past week.
Kerrville Folk Festival opens its 52nd year.
New City Council member sworn in.
Pete Calderone, sworn in as new Board member for KISD.
Cailloux Foundation makes grant for football helmets.
