In this special podcast series, I am joined by Mikhail Reider-Gordon, Managing Director of Institutional Ethics & Integrity at Affiliated Monitors. Mikhail’s areas of expertise include technology, privacy, cybersecurity, IP and accountability in artificial intelligence; the global anti-corruption and anti-money laundering regimes; media & entertainment; biotech and the life sciences; the public sector and international law. In this episode, we explore lies, spies and Wirecard.
Some of the highlights include:
· Weekly news wrap-up on Wirecard
· What did BDO find in the Philippines?
· Why was the Wirecard Board of Directors afraid to meet in a conference room with windows?
· Why is there no interest in the bankruptcy remains of Wirecard?
· What did the initial Insolvency Report show?
· Was Wirecard ever designed to be profitable?
· The continued adventures of Jan Marsalek.
· More dirty money.
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End of Summer Wrap UP
In this special podcast series, I am joined by Mikhail Reider-Gordon, Managing Director of Institutional Ethics & Integrity at Affiliated Monitors. Mikhail’s areas of expertise include technology, privacy, cybersecurity, IP and accountability in artificial intelligence; the global anti-corruption and anti-money laundering regimes; media & entertainment; biotech and the life sciences; the public sector and international law. In this episode, we are back from a summer hiatus and wrap up what has been happening on the Wirecard front over the past few weeks.
Some of the highlights include:
· BaFin Unapologetic
· Reporters and Short Sellers – Free to Be, You & Me?
· Political Fallout?
· Another German DAX-listed Company Scandal?
· Impact on EU – Rethinking Germany Frankfurt and Bonn for Financial Services Capitols post-Brexit?
· What is happening within Wirecard now – is the company still going?
· Deutsche is Not Buying
· Has the fullness of the scandal been revealed, or is more coming to light?
· What is, or what was, Project Panther?
· Enron had significant impact on then Big-5; is Wirecard going to impact Big-4 in the same way?
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The Wirecard Saga-Fraud
In this special podcast series, I am joined by Mikhail Reider-Gordon, Managing Director of Institutional Ethics & Integrity at Affiliated Monitors. Mikhail’s areas of expertise include technology, privacy, cybersecurity, IP and accountability in artificial intelligence; the global anti-corruption and anti-money laundering regimes; media & entertainment; biotech and the life sciences; the public sector and international law. She is accustomed to working on extremely sensitive and high-profile matters, both nationally and internationally. In this episode, we take up the issue of fraud in the Wirecard saga.
Some of the highlights include:
· Did Wirecard ever make money?
· Was Wirecard even designed to make money?
· Was it simply a Ponzi scheme??
· Why BCCI and not Enron was Wirecard’s role model?
· How could BaFin employees oversee Wirecard while investing in it? (Ans: they couldn’t)
· What is Round-Tripping fraud and how did Wirecard master it?
In this special podcast series, I am joined by Mikhail Reider-Gordon, Managing Director of Institutional Ethics & Integrity at Affiliated Monitors. Mikhail’s areas of expertise include technology, privacy, cybersecurity, IP and accountability in artificial intelligence; the global anti-corruption and anti-money laundering regimes; media & entertainment; biotech and the life sciences; the public sector and international law. She is accustomed to working on extremely sensitive and high-profile matters, both nationally and internationally. In this episode, we begin an exploration of the role of money-laundering in the Wirecard saga.
Some of the highlights include:
· How money laundering works?
· What is threat finance?
· Other examples of German corporate fraud?
· Why 2006 was such an important year in anti-money laundering?
· How Wirecard made money through money laundering.
· The risk related business model used by Wirecard.
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Germany Inc.
In this podcast series, I am joined by Mikhail Reider-Gordon, Managing Director of Institutional Ethics & Integrity at Affiliated Monitors. Mikhail’s areas of expertise include technology, privacy, cybersecurity, IP and accountability in artificial intelligence; the global anti-corruption and anti-money laundering regimes; media & entertainment; biotech and the life sciences; the public sector and international law. She is accustomed to working on extremely sensitive and high-profile matters, both nationally and internationally. In this episode, we consider the role of Germany Inc. in the Wirecard saga.
Some of the highlights include:
· Wrap up of the most current event in the Wirecard saga.
· Where does Germany fit in the global economy?
· Other examples of German corporate fraud?
· Where is all this corporate malfeasance coming from?
· What is the co-determination management structure and how does it play into all this?
· Political fallout?
· EU response?
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Short-Sellers
In this podcast series, I am joined by Mikhail Reider-Gordon, Managing Director of Institutional Ethics & Integrity at Affiliated Monitors. Mikhail’s areas of expertise include technology, privacy, cybersecurity, IP and accountability in artificial intelligence; the global anti-corruption and anti-money laundering regimes; media & entertainment; biotech and the life sciences; the public sector and international law. She is accustomed to working on extremely sensitive and high-profile matters, both nationally and internationally. In this episode, we consider the role of short-sellers in the Wirecard saga.
Some of the highlights include:
· Wrap up of the most current event in the Wirecard saga.
· What is a short-seller?
· Is it wrong or prohibited?
· Are short-sellers activists?
· History of short-sellers and Wirecard.
· What happened after so many short sellers warned of fraud by Wirecard.
· Was that the end of it?
· When were their suspicions vindicated?
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The Wirecard Saga-Introduction
In this new podcast series, I am joined by Mikhail Reider-Gordon, Managing Director of Institutional Ethics & Integrity at Affiliated Monitors. Mikhail’s areas of expertise include technology, privacy, cybersecurity, IP and accountability in artificial intelligence; the global anti-corruption and anti-money laundering regimes; media & entertainment; biotech and the life sciences; the public sector and international law. She is accustomed to working on extremely sensitive and high-profile matters, both nationally and internationally. In this episode, we begin a multipart series on the Wirecard accounting fraud.
Some of the highlights include:
- How long was Wirecard been under scrutiny?
- What was the role of BaFin in this disaster?
- What does this mean for Germany Inc?
- Why didn’t the regulators step in?
- What about EY?
- Where are we headed in the Wirecard Fraud?
We had to wait an extra week for the results, but we’re finally ready to unpack what President-elect Biden’s victory means for U.S. international trade priorities in 2021 and beyond. Our friend and very special guest, Richard Mojica, helps us break down what to expect in the U.S., China, and the EU, including what may and may not change with respect to the current era of protectionism, tariffs, free trade agreements, reshoring of supply chains, human rights, and much more. Brian and Tim then revisit their recent predictions on Iran and Cuba to add some new insights based on the events of the past few weeks. Plus, in the Lightning Round, we check in on what’s happening with TikTok (no one seems to know, including the U.S. government) and briefly gaze upon OFAC’s recent advisory regarding high-value artwork to ponder what it all means.
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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.
EMBARGOED! is intelligent talk about sanctions, export controls, and all things international trade for trade nerds and normal human beings alike, hosted by Miller & Chevalier Members Brian Fleming and Tim O’Toole. Each episode will feature deep thoughts and hot takes about the latest headline-grabbing developments in this area of the law, as well as some below-the-radar items to keep an eye on. Subscribe for new bi-weekly episodes so you don’t miss out!
Timestamps:
0:10 Introduction and Roadmap
The Rundown: Post-election-palooza!
4:48 Beyond sanctions and export controls: what to expect from a Biden administration (with very special guest Richard Mojica)
44:40 Revisiting some of our pre-election predictions (Iran and Cuba)
1:00:36 Lightning Round
1:01:03 Checking In on TikTok
1:10:15 OFAC Art Advisory
1:17:42 Final Thoughts
***Stay sanctions free.***
In this episode, I am joined by AMI Managing Director Stern. We consider how defense counsel can work proactively with independent monitors to help clients who may have sustained an ethical or compliance violation or are under government scrutiny for allegations of illegal misconduct in a wide variety of industries, disciplines and corporate settings. We look at a third-party independent in the health care industry.
In many ways the health care arena can be similar to other business, with their need to work with third-party independents. Stern said, “the cost of getting it wrong these days is very high. It’s not just the cost of hiring lawyers to defend you with a government agency or the Department of Justice. It is even more than the reputational risk. If you are a public company, your stock price is probably going to take a nosedive.” This makes bringing in a third-party independent a “cost effective step to try to get ahead of the situation.” All of this means that bringing in a third-party independent, on a proactive basis to assess a compliance program to bring it up to a best in class standard can really work as a business advantage. Stern believes that to be correct and added, “we work with the company at benchmarking and coming up with best practices. I think most companies want a kind of a state of the art, best practice compliance program rather than simply rely upon what worked five years or 10 years ago.”
Find out more about Affiliated Monitors Inc. by checking out their website here.
The Compliance Life details the journey to and in the role of a Chief Compliance Officer. How does one come to sit in the CCO chair? What are some of the skills a CCO needs to success navigate the compliance waters in any company? What are some of the top challenges CCOs have faced and how did they meet them? These questions and many others will be explored in this new podcast series. Over four episodes each month on The Compliance Life, I visit with one current or former CCO to explore their journey to the CCO chair. This month, my guest is Katie Smith who is the Vice President for Ethics at Assurance. She previously served as Assistant Vice President and Chief Ethics Officer for USAA and Executive Vice President and Chief Compliance and Ethics Officer at Convercent.
Katie is passionate about compliance, having worked in the field for 20 years, building high-performing teams and increasing employee engagement by up to 300%. She has proven expertise in building and promoting talent, creating a trust-based culture, anti-corruption, code of conduct, conflict of interest, marketing internal programs, training and awareness, investigation excellence, data privacy and process efficiency. She is a much sought after public speaker and contributor featured in Wall Street Journal, Time, Fortune, NBC and Compliance Week. Katie’s commitment to the compliance profession is well as she currently sits on the Board of Directors of the Ethics and Compliance Initiative (ECI).
In this third episode, we take up a topic not often discussed by compliance professionals: when is it time to move on? Katie gives six pivots points, including the following: (1) Incredible opportunity – lateral, upward, or balance; (2) Jaded. Objectivity is dying a slow death; (3) Bored as you have stood up a program, survived a crisis, now what do you do? (4) Retire and stay on Autopilot; (5) The support for you program is simply not there; and (6) Died on a compliance hill. Katie provides guidance on what compliance professionals should do if they find themselves in any of these situations.