Welcome to the award-winning FCPA Compliance Report, the longest running podcast in compliance.
In this special edition of the FCPA Compliance Report, welcome Sam Silverstein. They take a deep dive into how Boeing can begin to overhaul and reform their toxic culture, which led to the 2024 compliance and ethics failures. They discuss the power of the Culture Audit™, which is the sponsor of this podcast.
Sam Silverstein is a seasoned professional with over three decades of experience in corporate culture. Silverstein believes that a strong leadership role is crucial in driving culture change within an organization. His philosophy is that action follows belief, stressing that leaders must genuinely prioritize creating a culture of quality, compliance, and safety for it to truly thrive.
Silverstein maintains that the CEO’s primary role is to protect the organization’s culture, while the COO should ensure operations align with the board and CEO’s strategic plan. His experiences, particularly his insights drawn from Boeing’s situations, have shaped his belief that prioritizing culture over short-term profits, along with a culture audit and specific implementation plan, can help address systemic issues and foster a high-performance workplace culture.
Topics Covered in This Episode:
Transition from Safety to Profit Culture at Boeing
Measuring Organizational Culture through Employee Engagement
Creating Accountable Leaders for Organizational Culture Transformation
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 books on compliance you should read in 2024.
The Book of Trust by Yoram Solomon
Building Trust by Josh McQueen
Digital Body Language by Erica Dhawan
The Four Factors of Trust by Ashley Reichheld & Amelia Dunlop
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 the compliance professional, 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.
A former SNC Lavalin exec sentenced to 3 years on corruption charges. (Financial Post)
Where does creativity fit into compliance? In more places than you think. Problem-solving, accountability, communication, and connection all require creativity. Join Tom Fox and Ronnie Feldman on Creativity and Compliance, part of the award-winning Compliance Podcast Network.
Ronnie’s company, Learnings and Entertainment, utilizes the entertainment devices that people use to consume information in their everyday, non-work lives, and applies it to important topics around compliance and ethics. It is not only about being funny. It is about changing the tone of your compliance communications and messaging to make your compliance program, policies, and resources more accessible.
Today Ronnie and Tom consider global engagement strategies for a multi-national corporation.
Global engagement strategies encompass a broad and evolving discipline that requires innovative and adaptive mechanisms to effectively connect with a diverse, multinational workforce. Tom highlights the limitations of a “one size fits all” approach and the importance of incorporating engaging elements such as humor and entertainment in global engagement strategies. His perspective is shaped by the belief that it is more effective to tailor content to specific audiences, thus cultivating a library of diverse and engaging content.
Ronnie emphasizes the significance of employing a variety of creative and entertaining approaches, including humor, animation, music, and interactive elements. His experiences underline the notion that traditional methods may not always be the most effective and that leveraging different tools, even if it involves taking risks, can lead to a greater understanding and engagement in a global context.
Key Highlights:
Creative Engagement Techniques for Global Workforce
Global Resonance: Music in Communication Strategies
AI-Enabled Multilingual Content Transformation
AI Subtitling: Cost-Efficient Global Content Localization
Compliance Confessions – Inspired by “Mean Tweets,” these 90-second commercials address misconceptions and excuses to promote speak up culture and the E&C team as positive and helpful.
E&C Training Jams – a soulful singer who banters with ethics & compliance explaining policies, sharing examples and debunking excuses.
Tales from the Hotline– Real speak up-themed stories about workplace behavior gone wrong.
Workplace Tonight Show!– E&C meets SNL Weekend Update, explaining corporate risk topics and why employees should care.
60-Second Communication & Awareness Shorts– A variety of short, customizable, music and multimedia, quick-hitter “commercials” promoting integrity, compliance, speaking up and the E&C team as helpful advisors and coaches.
Custom Live & Digital Programing– Custom creative programming that balances the seriousness of the subject matter with a more engaging delivery. After all, you can’t bore people into learning.
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.
In today’s edition of Daily Compliance News:
Foreign Aid Package Raises Companies’ Sanctions Risks (WSJ)
A former SNC Lavalin exec sentenced to 3 years on corruption charges. (Financial Post)
McKinsey is under criminal investigation for opioid work. (NYT)
South Africa puts pressure on the UAE to extradite Gupta. (Bloomberg)
For more information on the Ethico ROI Calculator and a free White Paper on the ROI of Compliance, click here.
Welcome to The Woody Report, where Washington & Lee School of Law Associate Professor Karen Woody and host Tom Fox discuss issues on white-collar crime, compliance issues, international corruption, securities and accounting fraud, and internal corporate investigations. From current events to topical issues to academic research and thought leadership, Karen Woody helps lead the discussion of these issues on the new and exciting podcast.
In this episode, Tom and Karen explore Matthew Panuwat’s trial and verdict over claims of Shadow Insider Trading.
The intriguing case of insider trading involving Matthew Panuwat at Medivation and Insight is a stark reminder of the intricate nature of insider trading laws, emphasizing the challenging task of distinguishing between legal and illegal trading practices and defining material non-public information. The case highlights the need for precise, stringent controls to prevent such infractions, highlighting the critical role of insider trading policies. While there may be difficulty in determining the materiality and non-public nature of information in insider trading cases, such an approach must now be utilized.
Karen Woody underscores the necessity for tighter controls and clearer policies surrounding insider trading. She sheds light on the importance of considering factors such as peer companies and economic links when determining insider trading liability. Moreover, she accentuates the significance of jury instructions alongside the nuances in defining fiduciary duty and materiality in insider trading cases. She acknowledges the intricacies of insider trading and the challenges in ensuring a level playing field in the financial markets.
Key Highlights:
Materiality Dispute in Panuwat Insider Trading
Proactive Monitoring for Insider Trading Compliance
Professional Ethics in Insider Trading Scenarios
Unfair Advantage Through Confidential Information Trading
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, we discuss how far the US should push Europe when it comes to banning goods produced with forced labor, whether Canadians are just too darn nice when it comes to bribery, the Supreme Court’s review of when cash given to a US politician crosses from a thank-you gift to a bribe, and a Florida man’s notice to arresting officers that he’d be drinking his beer before being arrested because it’s cold.
The issue of forced labor, particularly in China, and its resultant goods has triggered a significant discourse between the US and Europe, highlighting the intricate connection between international trade and human rights. Tom argues for Europe to adopt stringent measures against forced labor like the US and credits his stand to his profound understanding of the extensive impact such a practice has on modern society. He advocates for a broad ban on goods linked to forced labor and is enthusiastic about the potential of a joint EU, US, and UK task force addressing the issue.
Kristy, with her focused view on the contrasting approaches of the US and Europe, agrees with the necessity of a robust response. She acknowledges the US’s advanced position in tackling forced labor challenges, appreciates the EU’s efforts to enact a similar ban, and supports the idea of a joint task force. She underlines the importance of preventing goods made from forced labor from entering the US via Europe.
In this episode, I visit with Tom, who welcomes Ron Karr, a long-time thought leader in the art of leadership, persuasion, and influence. They take a deep dive into the science of influence and persuasion and help the compliance professional understand how they can use this science to move the compliance ball forward in an organization.
This script explores the belief that data is precious but accounts for only 80% of the decision-making process. The remaining 20% comes from an assessment of the individual’s current situation, mindset, energy, and skill sets. The importance of not solely relying on data is emphasized through a reference to the movie ‘A Beautiful Mind,’ where a Nobel Prize-winning professor suggests that math (or data) can solve 80% of problems, indicating the necessity of beyond-data factors in solving the remaining 20%.
Key Highlights:
The 80/20 Rule for Leadership
Purposeful Reflection for Effective Decision-Making
Neurochemical Impact on Influencing Others Successfully
Propelling Success through Adaptive Strategies
Empowering Personal Growth Through Story Rewriting
Enhancing Professional Success Through Peer Engagement
The Velocity Mindset: Achieving Success Through Networking
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 this episode, we explore how compliance can help navigate through the minefield of corporate principles.
For more information on the Ethico ROI Calculator and a free White Paper on the ROI of Compliance, click here.
Jon Solorzano is a Los Angeles-based attorney who serves as counsel and co-head of the environmental, social, and governance (ESG) task force at the law firm of Vinson & Elkins. Prior to this role, he served as senior director for legal and corporate development at the Clorox Company.
Beyond ESG, Jon is also a highly sought-after thought leader with significant expertise in related fields such as M&A, corporate governance, securities regulation, corporate and business development, consumer products, technology, human capital management, business financial strategy, and international matters for both high-growth start-ups and established Fortune 500 companies.
Few topics are as vexatious and polarizing in contemporary times as the acronym ESG. Legendary investors such as Warren Buffet and his second-in-command, the late Charlie Munger, along with other prominent corporate and finance figures, argue that ESG should not be a consideration in investment decisions.
Against this backdrop, Jon discusses with Regulatory Ramblings host Ajay Shamdasani why ESG matters to investors, companies, and society, alongside corporate social responsibility (CSR) and diversity, equity, and inclusion (DEI). He stresses that while these concepts and movements are related and overlap to some degree, they are not necessarily the same thing. Indeed, Jon notes that those who coined the term ESG might have garnered more support for their cause had they emphasized (G)overnance rather than (E)nvironmental, as even skeptics of global warming can appreciate the importance of well-governed companies and how that affects share prices.
Jon also shares insights into his upbringing, background, and path into the legal profession, as well as how, as a transactional lawyer, he ended up leading his firm’s ESG practice.
While acknowledging the concerns of ESG detractors and naysayers, Jon predicts that 10-15 years from now, the nature of the debate and discussion will be very different. By then, few will even question the importance of ESG to the world’s well-being, he says, as millennials and Zoomers take over the reins of society in developed countries.
A telling sign that Jon’s predictions are accurate is that for younger investors, ESG definitely matters as a yardstick in gauging what constitutes a socially conscious and sustainable investment.
The conversation concludes by examining the extent to which ESG mandates intersect with financial regulation, and why banking and financial institutions globally need to take ESG as seriously as their regulatory compliance and risk management requirements.
Podcast Discussion:
02:01 A Journey through Corporate Law and Stakeholder Engagement
08:05 Unveiling the Complexity: ESG vs. CSR in Corporate Responsibility and Investor Value
20:20 Exploring the ESG Backlash: Understanding Perspectives on Investor Value and Corporate Responsibility
25:01 Corporate Indifference: The Evolution of ESG Amidst Regulatory Pressures
32:59 ESG in a World of Socio-Economic Uncertainty and Geopolitical Tumult
36:28 How do you rebrand ESG: Adapting Perception and Purpose in Corporate Sustainability?
41:26 Insights into the Intersection of ESG and Financial Regulation
44:22 Generation Shift: The Future Landscape of ESG
48:31 The Evolving Role of Professionals in ESG Decision-Making
52:41 Solorzano: Assessing a Practitioner’s Journey in the Evolving ESG Landscape
