Tag: Bryan Sillaman

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All Things Investigations

All Things Investigations: Episode 28 – New French Anti-Corruption Investigative Guidance with Anne Gaustad and Bryan Sillaman

 

The new French Investigative Guidance, jointly introduced by the AFA (Agence Française Anticorruption) and PNF (Parquet National Financier), discusses the appropriate methodology for carrying out internal investigations, specifically concerning corruption-related instances. In this episode of All Things Investigations, law experts Anne Gaustad and Bryan Sillaman join hosts Tom Fox and Mike DeBernardis to provide a detailed overview of the guide, contrasting the similarities and differences with US guidelines, and the implications it holds for US companies.

Anne Gaustad is an accomplished French lawyer and an authority in white-collar crime and compliance matters. With over 15 years of professional experience, Anne’s practice focuses on cross-border investigations and compliance matters, notably regarding corruption, fraud, and money laundering. 

 

Bryan Sillaman is a seasoned American lawyer based in Paris. As a partner at Hughes Hubbard & Reed, Bryan has worked extensively on matters related to the US Foreign Corrupt Practices Act (FCPA), French anti-corruption law (Sapin II), and other international anti-corruption laws. 

 

You’ll hear Tom, Mike, Anne and Bryan discuss:

  • The French Investigative Guidance is not covered by secret professional or French legal privilege, making its contents publicly accessible.
  • The new guide was jointly issued by the AFA and PNF agencies to provide comprehensive guidance on conducting internal investigations.
  • While there are similarities to US guidelines, the French guide incorporates the civil law tradition, stringent labor requirements, data privacy considerations, and whistleblower regimes.
  • The French legal privilege holds an absolute character, and it’s a criminal violation for French lawyers to breach it.
  • The new guide underscores the importance of transparency in data collection during internal investigations.
  • French blocking statutes and GDPR regulations may pose potential challenges to US-based companies.
  • The French guide, while non-binding, provides practitioners with comprehensive instructions for conducting internal investigations.
  • The guide puts a strong emphasis on understanding the nuances of French labor law.
  • The guide also encourages informing interviewees of the voluntary nature of their participation in investigations.

 

KEY QUOTES:

“The French Investigative Guidance represents a significant shift in the internal investigations landscape.” – Anne Gaustad

 

“It’s crucial for American lawyers to grasp the nuances of French labor law and privilege issues.” – Bryan Sillaman

 

“Transparency in data collection during internal investigations is key to avoiding legal repercussions.” – Anne Gaustad

 

Resources:

Hughes Hubbard & Reed website

Anne Gaustad on LinkedIn

Bryan Sillaman on LinkedIn

Guide (in original French)

Categories
The ESG Report

Hughes Hubbard & Reed’s New ESG Resource Guide, Part 2

 

Tom Fox welcomes Alexandra Poe, Andrew Fowler, and Bryan Sillaman of Hughes Hubbard & Reed (HHR) to part two of this series of the ESG Report. Hughes Hubbard & Reed released their newest ESG guide with practical guidance about the most common issues in establishing an ESG program. It also gives companies resources to help them comply with the evolving ESG expectations of regulators and investors.

 

 

Key ESG Topics In the Resource Guide

Tom asks Andrew and Alexandra to highlight the key ESG topics seen in the corporate sector that are covered in the resource guide. Alexandra says that before companies tackle any technical compliance concerns they must first understand that “[technical compliance] is a topic that involves governance strategy and mission and culture questions”. This chapter of the resource guide urges corporations to focus on the current trends. 

 

Andrew explains that there are many evolving ESG topics in this new social and political climate, so it may be difficult to choose umbrella topics for the corporate sector. However, he explains that most topics can fall into the category of risk assessment. Stakeholders and investors always need to ensure they’re investing in a safe business, so risk and mitigation planning is always a main issue. 

 

The Regulatory Environment

Tom asks Bryan how he assesses the regulatory landscape. Bryan says that the regulatory environment is constantly and rapidly evolving and it varies from region to region. The EU is more advanced than the US when it comes to regulatory efforts: they have several laws in place to limit greenwashing and identify environmentally friendly activities and sustainable economic activities. However, with the SEC rules in the final stages of being implemented, the US is on pace to become an ESG-friendly landscape. 

 

ESG From An Investor’s Perspective

Tom asks Alexandra to discuss how ESG is viewed by funds and investment advisors. Alexandra explains that ESG is viewed as an expensive commodity within the US. ESG regulations are better implemented by the private sector. The private sector is more likely to urge itself and government-based companies to make better disclosures and examine their practices better. She points out that companies always follow through with the ESG regulatory efforts they implement because it boosts their public image and aligns with their mission statement. 

 

Resources

Alexandra Poe | LinkedIn 

Andrew F. Fowler | LinkedIn

Bryan Sillaman | LinkedIn 

Hughes Hubbard & Reed | How to ESG: A Resource Guide for Establishing an ESG Program for your Company

 

Categories
ESG Compliance Podcast

Exploring ESG from the European Perspective with Bryan Sillaman


Bryan Sillaman, Head of the Paris office of Hughes Hubbard & Reed LLP, returns to the show to share the breadth and scope of some of the regulatory frameworks already in place, what the green taxonomy is all about and how it relates to an overall ESG program. 
 ▶️ Exploring ESG from the European Perspective with Bryan Sillaman.
Key points discussed in the episode:
(00:30) Bryan Sillaman shares his current practice and interesting evolution from a white-collar defense lawyer to an ESG aficionado.
(01:28) The key differences in the regulatory approach to ESG between the EU and US.
(02:34) The robust and rigorous exercise at a scientific and technical level to define sustainable activity versus not generating different opinions & viewpoints. Bryan expects this lengthy process in the EU in 2021 to become a lot more in 2022.
 (03:49): The EU has been ahead a bit on the front where the United States is in terms of the ESG regulatory approach. Sillaman shares that this is part of what’s driven by the regulatory framework, but even more so, as companies face pressure from their investors, employees, unions, NGOs and various stakeholders.
(05:04): Companies claim to be involved in sustainable activities but not really involved. And it comes back to the concern of greenwashing and establishing the taxonomy set out to define at a technical and scientific level what is sustainable and what is not.
(08:07) The sustainable financial disclosure regulation and its operation into an overall ESG framework. It requires asset managers as financial market participants to first disclose how much of their activities are aligned with the taxonomy.
(09:19) The Corporate Sustainability Reporting Directive and how it fits in.
(10:50) With directives defined, Bryan shares where he sees EU reporting standards for ESG headed and envisioned as the technical criteria will evolve over time. 
(12:57) ESG has become a really top-of-mind issue for many companies and institutions. Sillaman shares that this is part of what’s driven by the regulatory framework, but even more so, as companies face pressure from their investors, employees, unions, NGOs and various stakeholders. 
(14:13) Interesting trends for 2022 following the regulatory Bryan cites interesting cases and lawsuits brought by NGOs to pursue reductions in carbon emissions and other damages against companies. 
(17:30) Several countries pass enhanced disclosure and due diligence requirements on the supply chain, and companies are operating in their jurisdiction focus on human rights issues. 
(19:20) The S or social aspect part of ESG gets more attention, perhaps not as much as the environmental or E piece that focuses on gender issues
(20:36) A company that wants to start an ESG Program should first figure out who the key stakeholders are. It covers a broad set of issues that naturally implicates a lot of different stakeholders within the company.
Bryan J. Sillaman is Managing Partner of the firm’s Paris office. During his time at Hughes Hubbard, Bryan has counseled clients across a range of governance and compliance issues, including the development of policies and procedures, due diligence relating to third-parties and joint venture partners, and internal reviews and audits of their global operations. Bryan has spent significant time advising clients in connection with independent corporate monitorships and has traveled extensively in connection with his activities, including to Angola, Brazil, China, Indonesia, Malaysia, the Middle East, Nigeria, Russia, Thailand and Venezuela. 
Prior to joining Hughes Hubbard, Bryan was an attorney in the Division of Enforcement of the US Securities and Exchange Commission (SEC) where he earned a Division Director Award. 
Connect: bryan.sillaman@hugheshubbard.com
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Do you have a podcast (or do you want to)? Join the only network dedicated to compliance, risk management, and business ethics, the Compliance Podcast Network. For more information, contact Tom Fox at tfox@tfoxlaw.com.
 

Categories
The ESG Report

ESG, Clean Energy and Compliance with Bryan Sillaman


 
Bryan Sillaman, Head of the Paris office of Hughes Hubbard & Reed LLP, chats with Tom Fox about two articles he recently wrote in this week’s show. They discuss how to establish a corporate policy for ESG, as well as the renewable energy market and what’s driving its evolution.
 

 
5 Steps to Corporate ESG Policy
Bryan tells Tom that Larry Fink’s message about climate risk being investment risk, as well as the statement on stakeholder capitalism, helped shine a brighter light on ESG. Companies needed guidance on how to establish their own ESG policy, and his article, Five Steps to Establishing a Corporate ESG Policy for the Present Moment, provides a practical strategy for moving forward. Tom comments that it is a framework for responding to stakeholders such as regulators and investors, who are demanding more sustainability. When establishing a corporate ESG policy, start with what you can do and look at what you already have, Bryan advises listeners. It’s a process that will take time, and each company’s approach will differ depending on their circumstances. “This is a process, and it’s important as part of the implementation, to recognize that you need to test and to modify and perhaps enhance things going forward…” he remarks. Compliance officers have skills that translate well into leading ESG, he continues: “Compliance is – at its very essence – a risk management and also a change management process.” 
 
Clean Energy
Tom asks Bryan to talk about another of his articles, Keeping the ‘Clean’ in Clean Energy. The booming demand for clean and renewable energy will bring many opportunities, but also several risks, Bryan responds. This inspired him and his colleague to write the article. Tom comments that a mix of energy sources could extend the life of fossil fuels which would be good for the energy market. Traditional energy companies are investing in renewable energy to diversify and to position themselves for the evolution of the market, Bryan agrees. 
 
RESOURCES
Bryan Sillaman on LinkedIn
Articles: Keeping the ‘Clean’ in Clean Energy | Five Steps to Establishing a Corporate ESG Policy for the Present Moment
 
 

Categories
FCPA Compliance Report

Bryan Sillaman on the Intersection of Compliance, ESG and Clean Energy


In the Episode, HughesHubbard partner Bryan Sillaman returns to discuss how a compliance professional can think through setting up an ESG program and clean energy issues. Highlights include:

  1. What are the 5 Steps to Establishing a Corporate ESG Policy.
  2. What is the role of corporation compliance in a company ESG policy?
  3. What is the role of compliance in a clean energy discussion as so critical and how does it relate to a greater ESG discussion?
  4. What are some of the key compliance risks relevant to the clean and renewables sector?
  5. Where do you see these issues under the Biden Administration? Is it different in the EU?

Recourses
Keeping the ‘Clean’ in Clean Energy by Bryan Sillaman 
Five Steps for PE Sponsors to Establish ESG Policies at Their Portfolio Companies to Suit the Present Moment by Bryan Sillaman and Alexandra Poe