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Compliance Into the Weeds

Compliance into the Weeds: An SEC Rollback and a Tribute to Barney Frank

The award-winning Compliance into the Weeds is the only weekly podcast that takes a deep dive into a compliance-related topic, literally going into the weeds to explore it more fully. Looking for some hard-hitting insights on compliance? Look no further than Compliance into the Weeds! In this episode of Compliance into the Weeds, Tom Fox and Matt Kelly discuss SEC Chair Paul Atkins’ proposals to overhaul filer categories and sharply reduce corporate reporting and governance obligations, including SOX 404B internal control testing and Dodd-Frank say-on-pay votes, alongside a companion proposal to allow semi-annual instead of quarterly reporting.

Matt explains the shift to only two categories, raising the large accelerated filer threshold to $2B market cap, eliminating smaller reporting company status, and leaving roughly 80% of public companies as non-accelerated filers with reduced disclosures (e.g., two years of audited financials). They note a five-year IPO grace period, dubbed the “Elon exemption”, that could cover large new issuers such as SpaceX, OpenAI, and Anthropic. They warn of weakened investor protection, reduced enforcement, and significant impacts on compliance and culture. The episode closes with reflections on Barney Frank’s intellect, style, and Dodd-Frank legacy.

Key highlights:

  • Atkins Rollback Overview
  • New Filer Categories and Elon Exemption
  • Investor Protection Fallout
  • Compliance Culture Impacts
  • Remembering Barney Frank

Resources:

Matt on Radical Compliance

Tom in Compliance Week

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A multi-award-winning podcast, Compliance into the Weeds was most recently honored as one of the Top 25 Regulatory Compliance Podcasts, a Top 10 Business Law Podcast, and a Top 12 Risk Management Podcast. Compliance into the Weeds has been conferred a Davey, a Communicator Award, and a W3 Award, all for podcast excellence.

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Great Women in Compliance

Great Women in Compliance: Designing The Rooms Where Leadership Happens

This week on Great Women in Compliance, Hemma Lomax sits down with Meredith Anastasio, Managing Director of the Emerging Technology Division at Opal Group, for a thoughtful conversation about leadership, emerging technology, governance, and the power of designing meaningful dialogue.

Meredith’s career journey has taken her from law to executive leadership and strategic convening, where she now creates high-impact forums that bring together leaders across compliance, governance, AI, technology, and business. Her work focuses on building spaces where complex ideas can be explored honestly, collaboratively, and with practical impact.

Meredith shares why she believes compliance and governance professionals are uniquely important in moments of rapid technological change, and why thoughtful conversations matter more than ever in the age of AI. She and Hemma discuss the difference between simply organizing events and intentionally designing environments where leaders can challenge assumptions, wrestle with complexity, and move industries forward together.

The conversation also explores Meredith’s legal background, her passion for leadership development, and her belief that compliance work remains one of the most meaningful and influential professions inside modern organizations.

Topics include:

  • Meredith’s journey from lawyer to leadership strategist
  • The vision behind Opal Group’s emerging technology initiatives
  • Why governance and compliance conversations matter now
  • The role of human judgment in increasingly automated systems
  • Designing rooms where meaningful leadership conversations can happen

About Meredith Anastasio:

Meredith Anastasio, J.D., MSEL, is the Managing Director of the Emerging Technology Division at Opal Group. She leads conferences and executive forums focused on AI, governance, leadership, and emerging technologies, bringing together cross-functional leaders for deeper, more collaborative conversations about the future of business and society. Meredith also serves as the Founder and CEO of MAEvents, LLC, and has a background in law and executive leadership. 

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AI Today in 5

AI Today in 5: May 27, 2026, The Clock is Ticking Edition

Welcome to AI Today in 5, the newest addition to the Compliance Podcast Network. Each day, Tom Fox will bring you 5 stories about AI to start your day. Sit back, enjoy a cup of morning coffee, and listen in to AI Today In 5. All, from the Compliance Podcast Network. Each day, we consider five stories from the business world, compliance, ethics, risk management, leadership, or general interest about AI.

Top AI stories include:

  1. AI leading to revenue for compliance. (StartUpHub.ai)
  2. ECB says the clock is ticking for bank cybersecurity. (FinExtra)
  3. AI reshaping the healthcare C-Suite. (Modern Healthcare)
  4. Vertical AI is winning the compliance race. (FinTech Global)
  5. Spotify advocates for AI-generated music. (FT)

For more information on the use of AI in compliance programs, Tom Fox’s new book, Upping Your Game, is available. You can purchase a copy of the book on Amazon.com.

To learn about the intersection of Sherlock Holmes and the modern compliance professional, check out Tom’s latest book, The Game is Afoot-What Sherlock Holmes Teaches About Risk, Ethics and Investigations on Amazon.com.

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Blog

The Muppet C-Suite: A Compliance Professional’s Guide to Culture, Controls, and Chaos Part 2: Miss Piggy as CMO: Marketing, Reputation, and the Compliance Risks of Visibility

This week, we are honoring the return of The Muppets for a 2026 Special Edition. I thought it would be fun to look at business leadership teams through the lens of The Muppets. Every compliance professional has worked with a Kermit, managed a Piggy, worried about a Gonzo, or tried to contain an Animal. This series uses the Muppet executive team as a framework to explore leadership, governance, innovation, operational risk, and corporate compliance through the lens of the DOJ’s Evaluation of Corporate Compliance Programs and modern governance expectations.

In Part 2, we consider Miss Piggy, for if Kermit the Frog represents tone at the top, Miss Piggy represents what happens when tone meets brand, ambition, ego, visibility, and commercial pressure. And rest assured, every organization has a Miss Piggy. She is talented, visible, confident, persuasive, and deeply invested in how the enterprise is perceived. She understands audience, image, influence, and reputation. She knows that attention has value. She also knows that if she is not in the spotlight, something has gone terribly wrong.

As Chief Marketing Officer, Miss Piggy would be a powerful business asset. She would elevate the brand, command the room, and make sure the organization was never ignored. But from a compliance perspective, she would also pose a familiar governance challenge: how does a company manage a high-performing, high-visibility executive whose role creates real legal, ethical, and reputational risks? The answer is not to silence her. The answer is to govern the risk.

Marketing Is a Front-Line Compliance Function

Too many organizations still treat marketing as a creative function sitting outside the core compliance risk universe. That is a mistake. Marketing is where corporate promises become public commitments. It is where product claims, customer expectations, sustainability statements, influencer relationships, social media messaging, and reputational positioning move from internal strategy to external representation. That makes marketing a front-line compliance function.

Miss Piggy, as CMO, would own risks tied to:

  • misleading advertising,
  • unsubstantiated claims,
  • endorsement and influencer disclosures,
  • ESG and sustainability messaging,
  • customer communications,
  • crisis response, and
  • and brand conduct.

A best-practices compliance program should recognize marketing as a risk-owning function, not simply a department that occasionally needs legal review. The DOJ’s Evaluation of Corporate Compliance Programs asks whether compliance is operationally integrated into the business. Marketing is one of the places where that question becomes real. If compliance is not in the marketing workflow, it is not fully embedded in the business.

The Danger of Brand Overconfidence

Miss Piggy’s greatest strength is also her greatest risk: confidence. Confidence sells. Confidence builds loyalty. Confidence moves customers, investors, employees, and markets. But when confidence becomes overclaiming, the organization moves from brand leadership to regulatory exposure.

This is especially true in today’s environment, where companies face scrutiny over public statements about the following:

  • product performance,
  • privacy and data use,
  • artificial intelligence,
  • sustainability,
  • diversity and inclusion,
  • supply chain integrity, and
  • and social responsibility.

A CMO may view these statements as brand positioning. Regulators, plaintiffs’ lawyers, customers, and investors may view them as representations. That gap is where risk lives.

Miss Piggy would be very good at bold public messaging. A mature compliance program would make sure ‘bold’ does not become misleading. Every material claim should be substantiated, reviewed, documented, and tied back to actual operational capability. From a compliance perspective, the issue is not whether the brand voice is strong. The issue is whether the company can prove what the brand voice says.

Pre-Clearance Is a Control, Not a Creative Insult

Miss Piggy would not naturally enjoy pre-clearance. No high-performing marketing executive wants to be told that a slogan needs review, a campaign needs substantiation, or a public commitment needs documentation. But a mature compliance program should not approach marketing review as censorship. It should approach it as a risk-based control.

Not every tweet, tagline, or internal graphic requires legal and compliance approval. But high-risk communications do. That includes:

  • comparative advertising,
  • pricing claims,
  • product capability statements,
  • sustainability or ESG commitments,
  • AI-related statements,
  • customer testimonials,
  • influencer content,
  • and statements made during crisis response.

The control should be risk-tiered. Routine materials move quickly. High-risk materials receive enhanced review. Urgent communications have an expedited escalation path. This is the difference between a compliance program that enables the business and one that becomes a bottleneck. Miss Piggy does not need a hall monitor. She needs clear guardrails, fast answers, and a process she can trust.

Incentives Drive Marketing Behavior

The ECCP places significant emphasis on incentives and discipline. That principle applies directly to marketing. If Miss Piggy is rewarded only for reach, growth, visibility, impressions, engagement, and market buzz, then the compliance program should not be surprised when risk increases. People respond to what the organization measures and rewards. A mature organization would include compliance-sensitive measures in the CMO’s performance evaluation, such as:

  • accuracy of public claims,
  • adherence to review protocols,
  • cooperation with Legal and Compliance,
  • quality of campaign documentation,
  • responsible use of influencers and third parties,
  • and responsiveness to identified risks.

This does not mean making marketing timid. It means making marketing accountable. A high-performing CMO should be rewarded not simply for attention, but for trustworthy attention. In a mature company, brand value and compliance discipline should reinforce each other.

Reputation Risk Is Enterprise Risk

Miss Piggy understands reputation instinctively. She knows that perception matters. Compliance professionals should understand the same thing. Reputation risk is not soft risk. It can affect:

  • customer trust,
  • employee morale,
  • investor confidence,
  • regulatory scrutiny,
  • litigation exposure,
  • and board credibility.

Marketing sits at the center of that risk. A company may have excellent internal policies, strong controls, and thoughtful governance. But if its public messaging outruns its operational reality, the entire enterprise becomes exposed.

That is why marketing claims must be connected to internal controls. If the company says it has a rigorous third-party due diligence program, Compliance should be able to prove it. If the company says its AI is responsible, explainable, or human-supervised, Legal, Compliance, IT, and Risk should be able to document the governance structure behind that claim. The brand cannot promise what the control environment cannot support.

Miss Piggy as a Culture Carrier

Miss Piggy is not merely a marketing executive. She is a culture carrier. People watch her. They follow her cues. They imitate her confidence, her urgency, and sometimes her impatience. In many organizations, highly visible commercial leaders shape culture more powerfully than formal ethics statements. This creates opportunity.

If Miss Piggy publicly supports ethical marketing, substantiation of claims, customer transparency, and responsible branding, she becomes a compliance multiplier. She can make compliance feel commercially relevant rather than bureaucratic. But if she treats review processes as obstacles, dismisses concerns as negativity, or celebrates outcomes without regard to the methods used, the message to the organization is equally clear. Tone at the top matters. So does tone from the spotlight.

The CMO and the Board

Boards should care deeply about marketing risk. That does not mean the board should review every campaign. It means the board should understand whether the company has governance over high-risk communications and reputation-sensitive claims.

Board-level questions might include:

  • What public claims are we making that could create legal or regulatory exposure?
  • Are ESG, AI, privacy, and product claims substantiated?
  • Who approves high-risk public statements?
  • How do Legal, Compliance, and Marketing coordinate?
  • Do incentives reward responsible growth or merely visibility?
  • What reputational risks are emerging from social media, influencers, or public commitments?

These are not academic questions. They go directly to governance, controls, and oversight.

5 Key Takeaways for the Compliance Professional

1. Marketing is a risk-owning function.

Brand messaging, public claims, influencer relationships, and reputation management must be part of the compliance risk assessment.

2. Public claims require proof.

Companies should be able to substantiate material statements about products, ESG, AI, privacy, supply chains, and corporate responsibility.

3. Pre-clearance should be risk-based.

Compliance should not review everything, but it must review high-risk communications through a clear and efficient process.

4. Incentives shape marketing risk.

CMOs should be evaluated not only on visibility and growth but also on accuracy, cooperation, documentation, and responsible brand conduct.

5. Reputation risk is governance risk.

Boards and senior leaders should treat marketing claims as enterprise risk when those claims affect trust, regulatory exposure, or corporate credibility.

From Piggy to Gonzo

Miss Piggy teaches compliance professionals that visibility must be governed. Brand power creates opportunity, but it also creates exposure when public messaging runs ahead of facts, controls, or operational capability. In Part 3, we turn from reputation risk to innovation risk. Gonzo, as Chief Innovation Officer, will take us into the world of experimentation, emerging technologies, AI governance, and the compliance challenge of ensuring that innovation does not outrun accountability.

Because every company eventually faces its Gonzo moment: the moment when someone says, “What could go wrong? ”

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Innovation in Compliance

Innovation in Compliance: Capability without Governance Leads to Instability: Integrated GRC with Noor Aziz

Innovation spans many areas, and compliance professionals need not only to be ready for it but also to embrace it. Join Tom Fox, the Voice of Compliance, as he visits with top innovative minds, thinkers, and creators in the award-winning Innovation in Compliance podcast. In this episode,  host Tom visits with Noor Aziz, a Saudi Arabia–based governance, risk, and compliance professional with extensive ISO lead auditor credentials, internal audit and controls experience, and a growing focus on AI governance.

Noor argues that effective compliance must be practical and business-friendly—clear ownership, escalation, accountability, and evidence—so it still functions under operational pressure rather than becoming bypassed. She emphasizes leadership commitment, culture shaped by observed behavior, and integrated GRC to reduce silos that create duplication, inconsistent reporting, and “governance fatigue.” On AI, she frames governance as a board-level issue because adoption is outpacing accountability, creating future scrutiny around oversight, traceability, and defensibility; she notes, “capability without governance eventually creates instability.” She recommends change management, micro-learning, and ongoing communications, and concludes that governance is organizational infrastructure, not administrative overhead.

Key highlights:

  • Integrating Controls Audit and Risk
  • Breaking Down GRC Silos
  • Why AI Governance Is Board Level
  • Culture When Nobody’s Watching
  • Training That Actually Works: Microlearning and Ongoing Comms
  • Why Frameworks Fail in Execution
  • Maturing Governance for Business Value

Resources:

Connect with Noor Aziz on LinkedIn

Innovation in Compliance was recently ranked Number 4 in Risk Management by 1,000,000 Podcasts.

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The Ethics Experts

Episode 254 – Colin McBride

In this episode of The Ethics Experts, Nick Gallo welcomes Colin McBride.

Colin McBride, AIGP, is a Senior Regulatory Compliance Specialist at Pie Insurance, where he leads AI governance initiatives at the intersection of emerging technology and insurance regulation. Colin founded Pie’s AI Governance program, drafting the company’s first AI guidelines and working to develop its AI risk management framework, while managing compliance across commercial auto and workers’ compensation lines in dozens of state jurisdictions.

As a certified Artificial Intelligence Governance Professional (AIGP), Colin brings a practitioner’s perspective to AI ethics, navigating the complex challenges of implementing responsible AI systems in a highly regulated industry. His work bridges the technical, legal, and operational dimensions of AI governance—from evaluating new AI tools for regulatory risk to translating the NAIC’s AI model law into actionable business practices. Colin’s approach to AI ethics is grounded in real-world constraints: how do you innovate responsibly when your systems impact consumers’ access to essential insurance products, and when compliance failures can have immediate regulatory and consumer protection consequences?

Connect with Colin on LinkedIn

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The PfBCon Podcast

The PFBCon Podcast: Reena Friedman Watts on Killer Interviews: Ditch the Script, Get Personal, and Pitch Big Guests

At the Podcasting for Business Conference, Reena Friedman Watts—host of Better Call Daddy—describes her interview style: make guests comfortable immediately, be genuinely interested, stay flexible rather than married to a script, start with something personal, leave room for curiosity, and bring conversations full circle.

Reena explains how she researches guests by following up on details they’ve mentioned elsewhere and by asking audiences what topics they’re open to discussing to uncover deeper story angles and future episodes. Reena highlights her show’s signature ending where her dad provides an intergenerational “final thought,” and shares ways to build confidence, including practicing with mentors or guesting on other shows and using ChatGPT for formatting or rehearsal. She answers a question about pitching high-profile guests by offering unique angles, finding common ground, demonstrating mutual benefit (promotions, sponsors, downloads), and drawing on prior content. A live demo covers editing filler words, crafting intros that focus on listener results and emotion, and creating clear, promise-based titles.

Key highlights:

  • Making Guests Comfortable
  • Researching Guests Live
  • Audience Prompts for Depth
  • Slides Glitch and Pivot
  • Reena Interview Style Framework
  • Prepared vs Scared Guests
  • Pitching Big Names
  • Live Interview Demo
  • Filler Words and Authenticity
  • Crafting Intros and Titles
  • Storytelling Hook Example

Resources:

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Red Flags Rising

Red Flags Rising: S01 E40: Jeff Stitt on the Craft of Compliance

Mike and Brent welcome to the podcast Jeff Stitt, the President of Acacia Trail Consulting. Jeff walks through how he went from becoming an engineer to being an on-the-spot chief compliance offer appointee in 1992 (01:36), to doing compliance at a bank (05:51), to having the opportunity to build and run a compliance program across Sub-Saharan Africa (08:00), and then to integrating a major acquisition into his company’s compliance program (12:10). Jeff explains how compliance programs are really “underwriting” the business’s activities (14:00) and then talks about the opportunity to build-out a global compliance program at a publicly traded company (16:30). Jeff concludes with a discussion about Acacia Trail (19:28) and what he’s seeing in the trade compliance space today (21:14). Mike and Brent then conclude with another edition of Brent Carlson’s Managing-Up (22:11).

Contact Jeff: jeff@acaciatrail.com

More about Jeff: https://www.linkedin.com/in/jeffreylstitt/

Contact Brent: brent@redflagsrising.com

More about Brent: www.redflagsrising.com

Contact Mike: michael.huneke@morganlewis.com

More about Mike: https://www.morganlewis.com/bios/michaelhuneke

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AI Today in 5

AI Today in 5: May 26, 2026, The Tower of Babel Edition

Welcome to AI Today in 5, the newest addition to the Compliance Podcast Network. Each day, Tom Fox will bring you 5 stories about AI to start your day. Sit back, enjoy a cup of morning coffee, and listen in to AI Today In 5. All, from the Compliance Podcast Network. Each day, we consider five stories from the business world, compliance, ethics, risk management, leadership, or general interest about AI.

Top AI stories include:

  1. Pope Leo says AI could be our ‘Tower of Babel.’ (WSJ)
  2. Companies need scalable Compliance AI. (Bloomberg Law)
  3. Using AI to turn compliance from burden to advantage. (Federal News Network)
  4. NormAI launches compliance for Microsoft 365. (FinTech Global)
  5. Role of AI in financial compliance. (BizTech Magazine)

For more information on the use of AI in compliance programs, Tom Fox’s new book, Upping Your Game, is available. You can purchase a copy of the book on Amazon.com.

To learn about the intersection of Sherlock Holmes and the modern compliance professional, check out Tom’s latest book, The Game is Afoot-What Sherlock Holmes Teaches About Risk, Ethics and Investigations on Amazon.com.

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Daily Compliance News

Daily Compliance News: May 26, 2026, The Tower of Babel 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 in 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 professionals.

Top stories include:

  • OpenAI goes on a law firm hiring spree.  (Reuters)
  • Blood antiquities from Cambodia. (Bloomberg)
  • Why Roberts Rules of Order still rule. (FT)
  • Pope Leo says AI could become a ‘Tower of Babel’. (WSJ)

For more information on the use of AI in compliance programs, Tom Fox’s new book, Upping Your Game, is available. You can purchase a copy of the book on Amazon.com.

To learn about the intersection of Sherlock Holmes and the modern compliance professional, check out Tom’s latest book, The Game is Afoot-What Sherlock Holmes Teaches About Risk, Ethics and Investigations on Amazon.com.