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Daily Compliance News

Daily Compliance News – June 1, 2023 – The He Said/He Said Edition

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.

Stories we are following in today’s edition:

  • Do you have the right to disconnect? (FT)
  • Jho Low in Macau. (Al Jazeera)
  • 737 Max family victims can sue for pre-crash pain and suffering of victims. (Reuters)
  • Jes Staley says he talked to Jamie Dimon about Epstein. (WSJ)
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Daily Compliance News

Daily Compliance News: May 31, 2023 – The Holmes Reports Edition

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.

Stories we are following in today’s edition:

  • Elizabeth Holmes reports to prison. (NYT)
  • French prosecutors indict ex-FIFA VP over bribes paid re: Qatar. (France24)
  • NLRB says non-competes violate NLRA. (Reuters)
  • SW misuse costs Nutanix $11MM. (WSJ)

Categories
Great Women in Compliance

Great Women in Compliance-Reflections from Lisa and Mary

Welcome to the Great Women in Compliance Podcast, hosted by Mary Shirley and Lisa Fine.  Today, however producer Tom Fox guest hosts Mary and Lisa.

The Great Women in Compliance podcast is not quite at 200 episodes. However Lisa, Mary and Tom wanted to do special joint episode, looking back on the last 4.5 years of #GWIC.

Tom leads this episode by putting questions to Lisa and Mary while sharing his own perceptions and observations about the journey so far.  The team discusses some behind-the scenes content about how the episodes were put together in light of the goals Lisa and Mary had for their audience.  They discuss the lighter moments and memorable times from various perspectives and what the community support has meant to them. This episode sets the stage for the 200th episode which we invite you to join us for on 5 July 2023.

Some of the highlights include:

·      How the kernel of GWIC began and how it still resonates today.

·      How Mary and Lisa helped several guests overcome the imposter syndrome by coming on the podcast as guests.

·      How the podcast led to the book.

·      How Mary and Lisa have built upon their GWIC experiences.

·      Lisa previews GWIC 2.0.

·      Some favorite memories.

·      Some funny memories.

You can find the Great Women in Compliance Podcast on the Compliance Podcast Network where you can find several other resources and podcasts to keep you up to date in the Ethics and Compliance world. You can also find the GWIC podcast on Corporate Compliance Insights where you can learn more about the podcast, stream prior episodes and catch up on Mary’s monthly column “Living Your Best Compliance Life.”

Corporate Compliance Insights is a much-appreciated sponsor and supporter of GWIC, including affiliate organization CCI Press publishing the related book; “Sending the Elevator Back Down, What We’ve Learned from Great Women in Compliance” (CCI Press, 2020). If you enjoyed the book, the GWIC team would be very grateful if you would consider rating it on Goodreads and Amazon and leaving a short review.  Don’t forget to send the elevator back down by passing on your copy to someone who you think might enjoy reading it when you’re done, or if you can’t bear parting with your copy, consider it as a holiday or appreciation gift for someone in Compliance who deserves a treat.

If you enjoyed the book, the GWIC team would be very grateful if you would consider rating it on Goodreads and Amazon and leaving a short review.  Don’t forget to send the elevator back down by passing on your copy to someone who you think might enjoy reading it when you’re done, or if you can’t bear parting with your copy, consider it as a holiday or appreciation gift for someone in Compliance who deserves a treat.

You can subscribe to the Great Women in Compliance podcast on any podcast player by searching for it and we welcome new subscribers to our podcast.

Join the Great Women in Compliance community on LinkedIn here.

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The Hill Country Podcast

Hill Country Podcast – Camp Stewart at 100

Welcome to award-winning The Hill Country Podcast. The Texas Hill Country is one of the most beautiful places on earth. In this podcast, Hill Country resident Tom Fox visits with the people and organizations that make this the most unique areas of Texas. Join Tom as he explores the people, places and their activities of the Texas Hill Country.

Join Tom Fox in this heart-warming interview with Kathy Ragsdale, the owner of Camp Stewart, in the beautiful Hill Country. Discover the magic of Camp Stewart, which has been running since 1966 under the same program developed by Kathy’s late husband, Si Ragsdale. With over 725 campers this year, the camp offers an array of sports, crafts, music, and more, with the boys assigned to cabins based on their age groups. Kathy reflects on last year’s session, which surprisingly saw an increase in interest, despite COVID-19 restrictions. Discover the creative aspect of the camp’s activities, where boys can develop their skills and imaginations. Experience the laughter of young boys, the beauty of nature, and the significance of the 100th summer of Camp Stewart in 2023 with different logos and honoring its traditions. Kathy believes that camp experiences make a real difference in shaping people’s lives- such as her son and her late husband. Listen now and learn more about the magic of Camp Stewart and its generational ties and memories!

 Key Highlights

·      Benefits of summer camp during pandemic

·      Summer camp activities and diversity

·      Camp Stewart’s Natural Charm and Upcoming 100th Summer

·      The impact of summer camp

 Notable Quotes 

“While initially, everyone thought COVID would be bad for camping, it was very good for camping because parents realized when they couldn’t go to school and they weren’t getting the socialization. How much their children had missed it.”

“Last summer, a couple of boys, 1 made a violin, a couple made guitars, And they worked. I mean, they made some amazing things.”

“Our ceramics program dates back to 1967 when Jay brought Miller, doctor Miller, was Dean of the College of Final Arts at Texas Woman University, came down and spent a month and set up our kilns and the ceramics program.”

Resources

Camp Stewart

Tom Fox

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Categories
Corruption, Crime and Compliance

Lessons Learned from Recent FCPA Enforcement Actions — Philips and Franks Int’l Settlements

Koninklijke Philips manipulated tender processes for medical imaging equipment in China, which resulted in a substantial $62 million fine. On the other hand, Frank’s International paid an $8 million settlement for its FCPA violations in Angola, involving questionable commissions to a sales agent. These two cases serve as potent reminders of the risks and challenges that global companies encounter in today’s globalized economy, especially when dealing with high-risk countries such as China and Angola. They underline the need for robust ethics and compliance programs, vigilance against bribery and corruption, and strict adherence to local and international laws. In this episode of Corruption, Crime and Compliance, Michael Volkov uncovers the details of these cases that underline the risks and challenges faced by global companies in the contemporary economy.

You’ll hear Michael talk about:

  • Koninklijke Philips, a Dutch multinational corporation, was penalized with a $62 million fine for contriving multiple schemes to manipulate tender processes for medical imaging equipment in China.
  • These schemes included strategies like the manipulation of technical specifications, creation of counterfeit bids, and direct payments to state-owned hospital officials in China to restrict competition.
  • Frank’s International, an oil and gas company, paid an $8 million settlement for FCPA violations in Angola. The company had been paying commissions to a sales agent in Angola, knowing there was a high likelihood that these funds would be used to bribe government officials.
  • Frank’s International exhibited a lack of adequate internal accounting controls during this time period. This oversight permitted corrupt practices to proceed undetected.
  • Angola requires international companies to engage with local businesses. In Frank’s case, this was used as a cover to facilitate bribery payments.
  • Frank’s International was informed by a senior Sonangola executive that a restriction against them could be lifted if Frank’s established a separate consulting company benefiting a high-ranking Sonangola official and offered 5% of the contract value to this company.
  • The cases highlight how crucial it is for companies operating in high-risk countries, such as Angola and China, to have comprehensive ethics and compliance programs in place.
  • These programs must be able to detect and prevent bribery schemes, manipulation of tender processes, and similar malpractices.
  • The financial records of these companies must accurately represent all transactions and should be reviewed regularly to detect and rectify discrepancies.
  • Companies should maintain a cooperative attitude with regulatory authorities, report potential violations, and take remedial actions for any identified issues.

 

KEY QUOTES: 

“Koninklijke Philips played a dangerous game manipulating tender processes in China. The $62 million fine they paid is a stark reminder of the consequences.” – Michael Volkov

 

“Frank’s International’s $8 million settlement is a potent example of what can happen when companies ignore the necessity of robust internal accounting controls.” – Michael Volkov 

 

“Operating in high-risk countries demands more than just good business sense. It requires stringent ethics and compliance programs to prevent disastrous legal and economic consequences.” – Michael Volkov 

 

Resources:

Michael Volkov on LinkedIn | Twitter

The Volkov Law Group

Categories
Principled Podcast

Principled Podcast – S9 E14 – From Basic to Best in Class: Evolving Hexcel’s Compliance Program

What you’ll learn on this podcast episode

How do you move your ethics and compliance program along the journey from basic to best in class? How do you keep momentum amid a major business disruption and downturn? And how do you make progress on the holy grail of compliance objectives—a speak-up culture?  In this episode of LRN’s Principled Podcast, host Emily Miner is joined by Gail Lehman, the EVP, general counsel, and secretary at Hexcel Corporation. Listen in as Gail shares how this high-tech materials manufacturing company has evolved its compliance program over the past five years and what that’s meant for the company’s culture.

Guest: Gail Lehman

Gail Lehman – Grayscale

Gail Lehman is the executive vice president, general counsel, and corporate secretary at Hexcel Corporation, having joined Hexcel in January of 2017. Hexcel is headquartered in Stamford, Connecticut. Gail oversees the legal and trade compliance functions for this NYSE public company, a leading global producer of advanced composites for commercial aerospace, space and defense, and various industrial markets. She is also the leader of Hexcel’s Sustainability program at a corporate level. Gail serves as a trusted strategic advisor to the board, chief executive officer, and business teams. Upon joining the company, Gail restructured the legal and trade functions to align with Hexcel’s business teams and operational objectives. She re-engineered the Code of Business Conduct program, redrafting the code and rolling out specially tailored “speak up” ethics training and messaging across all global locations. She collaborates with other senior leaders and teams to drive Hexcel’s sustainability efforts and major growth, strategic and commercial activities, including mergers and acquisitions, cyber incident readiness, and contracting with the company’s critical customers and suppliers.  

Prior to joining Hexcel, Gail served as chief administrative officer, general counsel, and corporate secretary at Noranda Aluminum Holding Corporation. Prior to Noranda, Gail was vice president, general counsel, and corporate secretary at both Hawker Beechcraft Corporation and Covalence Specialty Materials Corporation. Earlier she rose through the ranks of the law department at Honeywell International. She began her career at the law firm of Lowenstein, Sandler in Roseland, NJ after serving a federal judicial clerkship in the District Court in New Jersey. 

Gail has a degree in psychology from Rutgers College, a graduate degree in educational psychology from Rutgers Graduate School of Education, and a law degree with high honors from Rutgers University School of Law. She has served on several non-profit boards, including currently for the Women’s Business Development Council in Stamford, Connecticut. 

Host: Emily Miner

Episode_Card_Emily_Miner

Emily Miner is a vice president in LRN’s ethics and compliance Advisory practice. She counsels executive leadership teams on how to actively shape and manage their ethical culture through deep quantitative and qualitative understanding and engagement. A skilled facilitator, Emily emphasizes co-creative, bottom-up, and data-driven approaches to foster ethical behavior and inform program strategy. Emily has led engagements with organizations in the healthcare, technology, manufacturing, energy, professional services, and education industries. Emily co-leads LRN’s ongoing flagship research on E&C program effectiveness and is a thought leader in the areas of organizational culture, leadership, and E&C program impact.

Prior to joining LRN, Emily applied her behavioral science expertise in the environmental sustainability sector, working with non-profits and several New England municipalities; facilitated earth science research in academia; and contributed to drafting and advancing international climate policy goals. Emily has a Master of Public Administration in Environmental Science and Policy from Columbia University and graduated summa cum laude from the University of Florida with a degree in Anthropology.

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Sunday Book Review

Sunday Book Review: May 28, 2023 – The Memorial Day Edition

In the Sunday Book Review, I consider books that interest the compliance professional, the business executive, or anyone 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 begin a two-part look at George Orwell and his writings and review books on patriotism and Memorial Day.

  • Flags of Our Fathers by James Bradley and Ron Powers
  • Citizen Soldiers by Stephen Ambrose
  • The Greatest Generation by Tom Brokaw
  • The Killer Angels by Michael Shaara
Categories
Kerrville Weekly News Roundup

Kerrville Weekly News Roundup: May 26, 2023

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 this weekend.

In this episode, Tom and Andrew discuss the following stories which caught their attention over the past week.

·      Tom talks about the Kerrville Public School Foundation  and Camp Stewart celebrating its centennial this year.

·      Andrew talks about Plea in Abatement hearing the Harley Belew case and the resignation of City Manager EA Hoppe to move to Frisco.

·      Gilbert talks about school graduations and the upcoming Kerrville Business Expo.

Resources

Tom Fox on LinkedIn

Gilbert Paiz on LinkedIn

Andrew Gay on LinkedIn

Texas Hill Country Podcast Network

Categories
Principled Podcast

Principled Podcast – S9 E13 – Is Your Hotline Running Cold? How To Get Meaningful Data from Internal Reporting.

What you’ll learn on this podcast episode

Do hotlines really work? According to the 2019 Global Business Survey conducted by the Ethics and Compliance Initiative, only 6% of E&C complaints went to hotlines, compared to 51% to direct supervisors and the remainder to higher management or human resources. So why are so many E&C programs—not to mention boards of directors—relying principally on hotline data to assess company culture and compliance? In this episode of LRN’s Principled Podcast, Susan Divers talks about reimagining hotlines with Scott Sullivan, the chief integrity and compliance officer at Newmont Corporation. Listen in as Scott shares how his team reinvented Newmont’s hotline channel and reporting process to separate the wheat from the chaff and gain meaningful information.

Guest: Scott Sullivan

Headshot_Scott_S7E18

Scott Sullivan is the Chief Integrity & Compliance Officer of Newmont Corporation, the world’s leading gold company. Newmont has approximately 15,000 employees and 15,000 contractors and has 12 operating mines and 2 non-operated JVs in 9 countries. Mr. Sullivan oversees, develops, implements, and manages Newmont’s integrity and compliance program including ethics, anti-bribery, corporate investigations, and global trade compliance. Previously, Mr. Sullivan was the Chief Ethics & Compliance Officer of a global manufacturer of fluid motion and control products with approximately 17,000 employees operating in 55 countries. Mr. Sullivan has written and contributed numerous articles on compliance programs, anti-bribery/FCPA, export controls, economic sanctions, and other ethics and compliance topics to a variety of publications. Mr. Sullivan is also a frequent local, national, and international speaker, moderator, and conference organizer on compliance, anti-bribery/FCPA, export controls, and economic sanctions.

Host: Susan Divers

Headshot_Susan_Divers_S7E18_Principled_Podcast

Susan Divers is a senior advisor with LRN Corporation. In that capacity, Ms. Divers brings her 30+ years’ accomplishments and experience in the ethics and compliance area to LRN partners and colleagues. This expertise includes building state-of-the-art compliance programs infused with values, designing user-friendly means of engaging and informing employees, fostering an embedded culture of compliance and substantial subject matter expertise in anti-corruption, export controls, sanctions, and other key areas of compliance.

Prior to joining LRN, Mrs. Divers served as AECOM’s Assistant General for Global Ethics & Compliance and Chief Ethics & Compliance Officer. Under her leadership, AECOM’s ethics and compliance program garnered six external awards in recognition of its effectiveness and Mrs. Divers’ thought leadership in the ethics field. In 2011, Mrs. Divers received the AECOM CEO Award of Excellence, which recognized her work in advancing the company’s ethics and compliance program.

Mrs. Divers’ background includes more than thirty years’ experience practicing law in these areas. Before joining AECOM, she worked at SAIC and Lockheed Martin in the international compliance area. Prior to that, she was a partner with the DC office of Sonnenschein, Nath & Rosenthal. She also spent four years in London and is qualified as a Solicitor to the High Court of England and Wales, practicing in the international arena with the law firms of Theodore Goddard & Co. and Herbert Smith & Co. She also served as an attorney in the Office of the Legal Advisor at the Department of State and was a member of the U.S. delegation to the UN working on the first anti-corruption multilateral treaty initiative.

Mrs. Divers is a member of the DC Bar and a graduate of Trinity College, Washington D.C. and of the National Law Center of George Washington University. In 2011, 2012, 2013 and 2014 Ethisphere Magazine listed her as one the “Attorneys Who Matter” in the ethics & compliance area. She is a member of the Advisory Boards of the Rutgers University Center for Ethical Behavior and served as a member of the Board of Directors for the Institute for Practical Training from 2005-2008.

She resides in Northern Virginia and is a frequent speaker, writer and commentator on ethics and compliance topics. Mrs. Divers’ most recent publication is “Balancing Best Practices and Reality in Compliance,” published by Compliance Week in February 2015. In her spare time, she mentors veteran and university students and enjoys outdoor activities.

Categories
The Woody Report

The Woody Report: Succession, The Final Season, Episode 9 – Church and State

Co-hosts Tom Fox and Karen Woody are back as they delve deep into the final season of Succession. From the recurring theme of personal vs. business decisions to the amazing performance from Shiv, these two bring you it all! But that’s not all – learn valuable lessons about deal-making and cultural fit, and find out why the attention to detail in the clothing and accessories of the characters is so important. And if you’re looking for a great podcast recommendation, tune in to catch their thoughts on a brand-new show – who knows, you might find your next binge-worthy obsession! Don’t miss an episode of The Woody Report, where Tom and Karen bring you all the latest in pop culture, business, and more from the final season of Succession.

Tom Fox and Karen Woody are back with another captivating episode of The Woody Report. In this episode, the hosts dive into scenes from Succession, discussing the exceptional acting and impressive visuals. They highlight Roman’s heartbreaking storyline and praise the character development of Sally. The hosts analyze the reactions to Shiv’s pregnancy announcement and speculate on Logan’s dark past. They also discuss the risky political plays involving Matsson and Mencken. The breakdown of a character at a protest and the possibility of something wrong with Kendall are also analyzed. Be sure to tune in to The Woody Report for all the details on the season finale and a glimpse into what’s to come. Don’t miss out on the excellent commentary and expert analysis from Tom Fox and Karen Woody!

Highlights Include:

  • Kendall’s confrontation with ex-wife
  • Complexities of Logan’s Women Relationships
  • Logan’s Backstory and Ewen’s Eulogy
  • Analyzing Roman’s Eulogy in Succession
  • Mencken flops on Kendall
  • Tom and Shiv
  • The Implications of Roman’s Protest Outburst
  • The WAGS

Resources

Karen on LinkedIn

Karen at Washington & Lee, School of Law

Tom

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