In today’s edition of Daily Compliance News:
As Rudy Giuliani charges the Trump Administration $20K a day for fantasy legal representation, Tom and Jay are back to look at top compliance articles and stories which caught their eye this week.
1. OECD finds big success in US anti-corruption efforts. Menqgi Sun in the WSJ Risk and Compliance Journal. To read the full report, click here.
2. Clawbacks in FCPA enforcement. Dick Cassin explores in the FCPA Blog.
3. Investor protection at the PCAOB? J. Robert Brown in the NYU Compliance and Enforcement Blog.
4. Can lawyers be CCOs? Only if you rewire your legal brain. Nicole Di Shino in Corporate Compliance Insights.
5. Och-Ziff pays cheated investors (finally). Dylan Tokar in the WSJ Risk and Compliance Journal.
6. The scrourge of human trafficking. Mike Volkov takes a 2-part look in Corruption Crime and Compliance. Part 1. Part 2.
7. Getting rid of corruption enablers. Rick Messick in GAB.
8. Corporate governance under the Biden Adminisration. Michael Peregrine in the D&O Diary.
9. Katie Smith is back with Part 3 of her four episode month on The Compliance Life. This week’s episode is knowing when its time to go.
10. Interested in sports, the Boston Celtics or leadership. Check out my podcast with Compliance Week Editor in Chief, Dave Lefort with our reflections of Tommy Heinsohn.
11. On the Compliance Podcast Network, on 31 Days to a More Effective Compliance Program, we into compliance in the 2020s and beyond. Monday-innovation through KPIs; Tuesday-Compliance at the table; Wednesday– Consistency as a Compliance best practice; Thursday– creating an inventory of metrics; Friday– Leveraging AI in Complinace Investigations. Note 31 Days to a More Effective Compliance Program now has its own iTunes channel. If you want to binge out and listen to only these episodes, click here.
12. Join K2 Integrity MD Anna Gumowska and Director Shannon Rainey as they discuss investigative due diligence to help uncover areas of risk and opportunity in the acquisition context. Webinar will be Wednesday, December 2 at 1600 GMT, 10 AM CT, 11 AM ET. Registration and details are available here.
Tom Fox is the Compliance Evangelist and can be reached at tfox@tfoxlaw.com. Jay Rosen is Mr. Monitor and can be reached at jrosen@affiliatedmonitors.com.
Amanda and Michelle welcome Solomon Carter to the TMZ of Compliance Podcasts!
Episode Notes
https://assets.corporatecompliance.org/Portals/1/PDF/Resources/Compliance_Ethics_Professional/0219/scce-cep-2019-02-carter.pdf
https://compliancecosmos.org/disciplinary-actions-springboard-training
https://compliancecosmos.org/teaching-your-staff-be-accountable
https://compliancecosmos.org/disciplinary-actions-springboard-training
https://compliancecosmos.org/teaching-your-staff-be-accountable
The Starbucks Culture Flower; “Houston We May Have A Problem!”
I am joined once again by AMI Managing Director Stern. In this episode, we look at a third-party independent in non-profit setting and how it could help universities survive Varsity Blues. Many people might not consider the need for a third-party independent in the non-profit setting. However, in light of the Varsity Blues scandal and the negative publicity around it, there is renewed interest in this approach in an area where it has not previously seen a lot of traction. Most interestingly, Stern believes this will be the “next frontier” for federal, state and local prosecutors. He believes there is a “landscape for potential abuse out there” and that Varsity Blues may only be the starting point.
It really starts from the position that most non-profits have less money than for-profit businesses so their compliance programs are typically not as well invested in. Moreover, most non-profits tend to see themselves, because they typically do not have a profit motive, as not open to waste, fraud and abuse. As Stern said, “they see themselves as wearing white hats and they do not see the need for compliance programs.” Finally, they tend to be very siloed. All these factors make the need for robust compliance even more important.
The bottom line is that after the NCAA basketball corruption scandal, the Varsity Blues college admissions scandal and others, non-profits will be investigated more thoroughly by federal, state and local regulators. Hiring a third-party independent, such as Stern, on a proactive basis can help any entity.
Find out more about Affiliated Monitors Inc. by checking out their website here.
Jennifer Saperstein is an Anti-Corruption and White Collar Partner and the Vice Chair of the Anti-Corruption Practice Group at Covington and Burling LLP. She joins Vince Walden to discuss why companies need to be smart about resourcing, compliance technology trends, and the compliance industry post-COVID.
Having a risk-based documented plan for effective compliance programs before consulting any external advisory service is beneficial for companies. Being able to demonstrate where they have focused their limited resources is always helpful. It is now even more important for companies to make smart, risk-based decisions about where to spend their time due to the current pandemic.
A recent survey of over 30 companies revealed that in the last 10 years, there has been a significant transformation in compliance technology trends. Almost 70% of respondents say they use technology for third-party due diligence and 100% saying they use an LMS system to train employees. However, many companies still rely on manual processes for certain parts of their compliance programs.
Resources
Jennifer Saperstein on LinkedIn
Cov.com
In today’s edition of Daily Compliance News:
- Will Chevron stay in Venezuela under Biden? (Houston Chronicle)
- Some (sort of) good news for Boeing. (WSJ)
- Second investigation over Jeffrey Epstein at Victoria’s Secret. (NYT)
- Apple to slash developer fees. (BBC)
In today’s episode, we discuss why we need compliance officers now more than ever. The workforce that emerges from the combination of stay at home orders and the financial crisis will be very different than ever before. Each of us is dealing with unprecedented levels of stress, anxiety, and uncertainty. These external stressors can cause people in positions of trust to suspend good judgment. They can put themselves and their organizations at risk in the process. Decision-making under stress and unreasonable times pressure can be a perfect storm during which business ethics may be given short shrift. Joining us today is Richard Bistrong. Richard is the CEO of Front-Line Anti-Bribery LLC through which he conducts corporate workshops and keynotes to sales teams, leadership groups (including boards and c-suite executives), and compliance teams (including internal audit, finance, and HR).
Join us each week as we take a deep dive into the various forms of fraud across the world and discuss crime families, penny stock boiler rooms, international money launderers, narco-traffickers, oligarchs, dictators, war lords, kleptocrats and more.
Scott Moritz is a leading authority on white-collar crime, anti-corruption, and in the evaluation, design, remediation, implementation, and administration of corporate compliance programs, codes of conduct. He is also considered an authority in the establishment, training, and oversight of the investigative protocols carried out by financial intelligence, corporate security, and internal audit units.
Welcome to the newest addition to the Compliance Podcast Network, Compliance and Coronavirus. In this episode, I am joined by Mike Lindsey, a partner in the Los Angeles law firm of Steinbrecher and Span. Lindsey specializes in cyber risk issues and he join me to discuss those issues during the second half of this first year of Covid-19.
Some of the highlights include:
- What is the nature of Lindsey’s practice?
- Has the Coronavirus crisis increased cyber risks?
- What are some of the top pieces of advice you are giving clients at this point in the crisis?
- Has it changed since March?
- Where do you see us, 12 to 18 months out in terms of cyber risks?
- Are Board of Directors moving quickly enough to oversee cyber risks?
Resources
LinkedIn page for Mike Lindsey
Welcome to the Great Women in Compliance Podcast, co-hosted by Lisa Fine and Mary Shirley. In Part 2 of the 2-part series with Dr. Mary Gentile, the founder of Giving Voice to Values, Lisa talks with Dr. Gentile about how ethics and compliance professionals can use GVV to help build an organization’s culture and help with ethical decision-making. In particular, we discuss how E&C professionals can start with 3 questions underpinning GVV: What if I were going to act on my values? What would I say and do? How could I be most effective? This starting point can empower people to make good choices, leading to better decision-making and ultimately a stronger organization. Dr. Gentile provides real-life examples of how GVV has been applied in different contexts, some very practical advice and a lot of resources that can be used to help improve decision-making.
Have you heard that Lisa and Mary have published a book? Yes, you can get your very own copy of “Sending the Elevator Back Down: What We’ve Learned From Great Women in Compliance” (CCI Press, 2020) on Amazon right now! Enjoyed your copy? Don’t forget to leave a review!
Join the Great Women in Compliance community on LinkedIn here.