Ethics and compliance professionals believe in their mission – if they did not, they would not be in the field. E&C professionals believe in the power of positive thinking, ethical conduct, and the overall ability of an organization to operate as an “ethical” company. They work for their mission, and it is a positive mission. The New Year is a great time for E&C professionals to take stock of their compliance programs and plot out a path forward. Luckily for most compliance professionals, there are many opportunities to advance their objectives. E&C is poised for another big jump on the corporate governance ladder, and this is a big year for E&C professionals to push their respective companies to support such efforts. There are three significant trends that will continue to play out this year that create opportunities. These three trends, which I will discuss in greater detail, are:
(1) the continued emphasis on the importance of corporate culture;
(2) the importance of ESG and, in particular, the “G” element;
(3) the current Administration’s aggressive enforcement and regulatory initiatives.
In this episode, Michael Volkov reviews these important ethics and compliance trends.
Categories
OFAC Sanctions Pretend NGO
OFAC sanctions World Human Care, a pretend humanitarian NGO for financing violent extremists.
Brian and Tim discuss the new E.O. aimed at resolving the question of what to do with Da Afghanistan Bank’s assets in the U.S. and debate whether it will work as intended. Next, they place bets on whether it’s too late for JCPOA 2.0 to happen and discuss how far the U.S. may be prepared to go to impose costs on China if it disregards the (possible) “crushing” sanctions that could be imposed upon Russia. Finally, Brian and Tim stick with China to briefly cover the recently unsealed trade secret theft charges against Hytera Communications and an atypical CFIUS review initiated by a U.S. company unhappy with its Chinese investors.
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EMBARGOED! is not intended and cannot be relied on as legal advice; the content only reflects the thoughts and opinions of its hosts.
***Stay sanctions free.***
Super Sunday passed with fun but poorly played, poorly officiated, and poorly coached. Tom and Jay are back to look at some of the week’s top compliance and ethics stories this week in the Rams Win It All Edition.
Stories
- Ericsson is in more FCPA trouble. Mengqi Sun in the WSJ Risk and Compliance Journal. Aaron Nicodemus in Compliance Week. (sub req’d)
- DD impeding compliance in developing markets? Katya Lysova explores in the FCPA Blog.
- ESG-no longer a nice to have. Karen Alonardo in Risk and Compliance Matters.
- State AGs are waiting. Ashley Taylor and Chris Carlson in CCI.
- The latest case on CCO liability. Matt Kelly in Radical Compliance.
- Broken windows and compliance enforcement. Anthony O’Reilly in Compliance and Enforcement.
- Companies yet again ask the EU for rules around ESG. Lawrence Heim inpracticalESG.
- White-collar enforcement trends in 2021. Jamie Rosenberg in Grand Jury Target.
- HP-Autonomy from the auditors’ perspective. Francine McKenna in The Dig.
- South African courts deny Zuma’s attempt to remove the SA corruption prosecutor. Rick Messick in GAB.
Podcasts and More
- In February on The Compliance Life, I visited Ellen Smith, a former Director of Trade Compliance who recently started her consulting firm. In Part 1, she discussed her academic background and early professional career. In Part 2, Ellen discussed her move in-house. In Part 3, Ellen discusses being a part of the Compliance Dream Team at Weatherford.
- Tom and Richard Lummis are in the middle of their annual review of Best Picturing winning movies on 12 O’Clock High, a podcast on business leadership. Part 1 reviews Schindler’s List for leadership and ethical lessons. In Part 2, the look at Gladiator.
- CCI releases a new e-book from Mike Volkov, “Compliance Culture Revolution.” Available free from CCI.
- Tom looks at some innovation in compliance with a 3-part blog post series in the FCPA Compliance and Ethics Blog. Topics include Compliance Ecosystem Governance, Compliance Branding, Building Culture & Compliance Coaching.
- Are you a Star Wars fan? How about an uber-Geek? You will love the 5-part series appearing next week on the Greeting and Felicitations podcast series on the Compliance Podcast Network if you are either or both. In this series, Tom visits astrophysicist Dr. Ben Locwin on the following topics: Traveling in Hyperspace, Fighting with a Light Saber, Mechanical Prosthetics, Cyborgs and Robots, and the Death Star. It is a ton of fun, and you will love it. Each episode will post at 10 each day next week. Check it out daily.
Tom Fox is the Voice of Compliance and can be reached at tfox@tfoxlaw.com. Jay Rosen is Mr. Monitor and can be reached at jrosen@affiliatedmonitors.com.
In today’s edition of Daily Compliance News:
- NY AG can question Trump, kids under oath. (NYT)
- SEC widens investigation into Activision Blizzard. (WSJ)
- Surprise Surprise, BoJo drops Minster to fight corruption. (Business Insider)
- Tesla says SEC being unfair to Musk. (WSJ)
Categories
BIS Update to Unverified List
Commerce Department’s BIS issues revisions to the Unverified List; adds 33 Chinese entities.
In this episode we consider the presidency of the 10th President, John Tyler. Tyler was the first president to ascend to the position after the death of President in office, William Henry Harrison. This ascendency, as his presidency was fraught with difficulties and conflict.We explore his Presidency for leadership lessons for the 21st Century business leader in this podcast.
12 O’Clock High, a podcast on business leadership brings together stories from history, the arts and movies, research and current events to consider leadership lessons. Each year during Oscar season we look at four Best Picture-winning movies and draw leadership lessons from them. It is also a way to watch some great movies and garner some leadership lessons. In this episode, we consider the movie Gladiator. Highlights include:
- Movie Storyline
- Favorites Scenes
- Life Lessons
• Marcus Aurelius’ and Stoicism
• The only constant is change.
• Life isn’t always fair but that is not what matters.
- Business Leadership Lessons
• Lead from the front and walk the walk.
• Inspire great teamwork. Create an atmosphere for success of others.
• There is no losing, only winning and learning.
• Train hard and practice.
- Maximus’ Relationships
• Jubo
• Proximo
Resources
8 Virtues of Gladiator Leadership
5 Powerful Life Lessons from Gladiator
Six Leadership Lessons from Gladiator
Down to Business: Seven leadership lessons from Maximus
Welcome to the only roundtable podcast in compliance. The entire gang was also recently honored by W3 as a top talk show in podcasting. In this episode, we have the full gang of Jonathan Marks, Karen Woody, Jonathan Armstrong, Tom Fox, Matt Kelly and Jay Rosen. We discuss a potpourri of issues. We conclude with our fan favorite Shout Outs and Rants.
- Karen Woody reviews the recent HeadSpin SEC enforcement action, explaining how the SEC has jurisdiction over a private company, the significance of an enforcement action with no fine or penalty and the corporate governance issues involved. Karen shouts out to the Super Bowl Halftime show for throwing love on 90s music and musical stars.
- Jay Rosen discusses the recently released Commission on Combatting Synthetic Opioid Trafficking Report. Rosen shouts out to celebrity chef Jose Andreas for creating the Gazpacho Police in the 1990s long before Marjorie Green Taylor accused Nancy Pelosi of doing so and for inviting Rep. Taylor to join, provided she is vaccinated and wears a mask to the restaurant.
- Matt Kelly looks at the Joe Rogan and Spotify imbroglio, focusing the attempts of Spotify CEO Daniel Ek to focus the spotlight on Rogan and not Spotify. Kelly shouts out to that unknown US criminal enforcement agency, the National Archives which raided Mar-A-Lago where the former President had purloined some 15 boxes of Presidential papers and materials. He also gives a minor shout out to New York Times columnist Maggie Haberman who in an upcoming book reported the former President flushed documents down the toilets at the White House.
- Jonathan Marks discusses continuous controls monitoring and continuous auditing as best practices for compliance, risk management and fraud prevention programs. Marks shouts out to the Philadelphia 76ers for getting rid of Ben Simmons who refused to play for them. He implores Simmons to get a new agent for his disastrous handling of the entire situation.
- Jonathan Armstrong discusses the civil verdict for HP in its case against Autonomy and the Extradition Order delivered by the Home Secretary for Mike Lynch to go to America to stand for a US criminal trial. Armstrong shouts out to Queen Elizabeth II for her 70-year reign on the English throne.
- Tom Fox has a melancholy shout out to the University of Michigan School of Law and greater legal education profession, which lost two stalwart professors recently; Yale Kamisar, Father of Miranda and Terrance Sandalow, former Dean of the Law School.
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
- Karen Woody – One of the top academic experts on the SEC. Woody can be reached at kwoody@wlu.edu
- 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 data privacy/data protection lawyer with Cordery in London. Armstrong can be reached at armstrong@corderycompliance.com
- Jonathan Marks is Partner, Firm Practice Leader – Global Forensic, Compliance & Integrity Services at Baker Tilly. Marks can be reached at marks@bakertilly.com
The host and producer, ranter (and sometime panelist) of Everything Compliance is Tom Fox the Voice of Compliance. He can be reached at tfox@tfoxlaw.com. Everything Compliance is a part of the Compliance Podcast Network.
In today’s edition of Daily Compliance News:
- Leissner takes the stand in Ng trial. (Yahoo!News)
- Zuma efforts to dismiss corruption changes rejected. (Al Jazeera)
- Muddy Waters under DOJ scrutiny. (Reuters)
- Ericsson finds more post settlement corruption. (WSJ)