Tag: compliance

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Everything Compliance

Episode 80, the Vaccinated edition


Welcome to the only roundtable podcast in compliance. Today, we have a quartet of Matt Kelly, Jonathan Marks, Jonathan Armstrong and Jay Rosen for a deep dive into plethora of compliance topics. We end with a veritable mélange of rants and shouts outs.

  1. Jonathan ArmstrongJonathan Armstrong reflects on the SFO’s 0-11 record in trying individuals, after corp DPAs have been signed. Armstrong delivers a shout out to the BBC for their podcast series Lazarus Heist.
  2. Jonathan Marks talks about the intersection of governance, fraud and corporate culture. Marks has his most epic rant ever, directed at Bob Baffert who claims he has no idea how his Kentucky Derby winning horse was drugged.
  3. Jay Rosen reviews a recent AMI, Integrity Through Compliance podcast on healthcare issues in 2021. Rosen shouts out to the GOAT Tom Brady and his return to New England in the 4th game of the 2021 NFL season.
  4. Matt Kelly discusses the recent Biden Administration Executive Order on Cybersecurity. Kelly shouts out to Moderna for its covid vaccine.
  5. Tom Fox shouts out to the 10,000 New York Yankee fans who so voraciously berated the Houston Astros as cheaters during a recent trip to Yankee Stadium that it hurt the feelings of those same cheaters.

Additional Resources:
Matt Kelly blog post on Radical Compliance, Parsing Biden’s Cybersecurity Order 
See Cordery Compliance Client Alert, SFO Loses another case 
Listen to the AMI podcast Integrity Through Compliance: Episode 8: From Business Opportunities to Compliance Risks: Healthcare Expectations in 2021 
Jonathan Marks blog post on Board and Fraud, Governance, Fraud, and Corporate Culture: Sorting Through a Complicated Relationship 
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
  • Mike Volkov – One of the top FCPA commentators and practitioners around and the Chief Executive Officer of The Volkov Law Group, LLC. Volkov can be reached at mvolkov@volkovlawgroup.com
  • 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.

Categories
This Week in FCPA

Episode 252 – the Musk and Bitcoin edition


Bitcoin goes on a wild ride this week with its buddy, Elon Musk. With Jay podcasting from a still undisclosed location, he and Tom take a look at this week’s stories top compliance and ethics stories which caught their interest on This Week in FCPA in the Musk and Bitcoin edition.
 Stories
1.     Of Elon Musk, Bitcoin and Uturns. Matt Kelly in Radical Compliance. Tom and Matt in Compliance into the Weeds. Andrew Ross Sorkin in Dealbook. On SNL here.
2.     Benchmark with the Walmart Global ABC policy.  Harry Cassin in the FCPA Blog.
3.     Closing the moral hazard gap. Jeff Kaplan in the FCPA Blog.
4.     Boards and cybersecurity oversight. Wachtell lawyers, John F. Savarese, Sarah K. Eddy, and Sabastian Niles in the NYU Corruption and Enforcement Blog.
5.     You are ready for th EU Whistleblower Directive? Neil Hodge in in Compliance Week (sub req’d)
6.     Are companies serious about Diversity & Inclusion? Henry Kronk in CCI.
7.     Who are a CCOs most important resource (Hint: it’s customers). Steve Chapman in Navex Global’s Ethics and Compliance Matters Blog.
8.     What happens when whistleblowers joust over an award? Matt Kelly in Radical Compliance.
9.     Do you have a mindset of respect? Sam Silverstein in the Accountability Blog.
10.  How does ESG serve investors? Lawrence Heim in PracticalESG.com.
 Podcasts and Events
11.  Check out the 5-part podcast series this week sponsored by K2 Integrity. We consider the intersection of Compliance, Diligence and M&A. Part 1-Core Diligence, Part 2-Current state of M&A; Part 3-Avoiding Reputational Issues, Part 4-Global M&A issues, Part 5-Post-acquistion integration.
12.  In the most recent episode of Integrity Through Compliance, Jesse Caplan, Dionne Lomax and Jim Anilot discuss “From Business Opportunities to Compliance Risks: Health Expectations in 2021”. Check it out here.
13.  In a special two-part series, Tom visits with Joey Seeber, CEO of Level Legal. They discuss alternative legal services providers and the Baylor Bears 2021 NCAA Men’s Basketball Championship. Part 1 and Part 2.
14.  CCI releases a new eBook, The FCPA Year in Review by the Compliance Evangelist, Tom Fox. You can obtain a copy here.  Best of all its available at no charge.
15.  Tom announces his latest book, The Compliance Handbook, 2nd edition is available for presale purchase. Use the code FOX25 and go here. The Compliance Handbook 2nd edition will be available in both print and eBook editions. This week on The Compliance Handbook podcast, Eric Young joins Tom for a deep dive into the role of internal controls in a best practices compliance program.
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.

Categories
Coffee and Regs

The Facts on FINRA & Capital Acquisition Brokers

The Facts on FINRA & Capital Acquisition Brokers

 
In this episode, CSS’s Director of Broker-Dealer Services and a former regulator, John Gentile and Executive Director, Jackie Hallihan sit down to discuss FINRA’s rule book regarding capital acquisition brokers. These are broker-dealers that limit their business to certain capital raising, mergers and acquisitions and corporate financing activities, so before you go down that regulatory path, it’s important to understand the rules and the benefits of CAB registration.

 

About Our Guest Speakers:

John Gentile is responsible for overseeing various types of broker-dealer and investment adviser consulting engagements, including conducting SEC/FINRA internal control reviews, anti-money laundering testing, written supervisory policy and procedures testing, and other consultation services. John is a frequent speaker at industry conferences on various compliance topics, including “Effective Supervision,” “Large Firm Testing,” FINRA Supervisory Control Rules” and “Anti Money Laundering Requirements for Broker Dealers under the PATRIOT Act.” In 1987 John joined the SEC as a Securities Compliance Examiner, becoming a Branch Chief in 1991. He became Assistant Regional Director in 1993, supervising a team of 20 broker-dealer managers and examiners. He also planned and conducted financial, operational, and sales practice examinations of the largest broker dealers and was among those responsible for a review of hedge funds’ impact on broker dealer internal controls. Before joining the SEC, John was a Financial Damage Analyst with PaineWebber Inc. Most recently from 2000-2007 John was an Executive Consultant, Broker-Dealer Services, at National Regulatory Services. John has an MBA from Fordham University and a BS in Finance from Central Connecticut State University. From 1995 to 2002, John was also a member of the Securities Industry Continuing Education East Coast Content Committee.
 

 

Jackie Hallihan is the Co-Executive Director of CSS’s Compliance Services team and has over 25 years’ regulatory and risk management experience. She was the founder of National Regulatory Services (NRS) which started the compliance resource business and served as its President for over 20 years. She also founded the National Society of Compliance Professionals (NSCP), a non-profit organization for compliance officers, staff and lawyers serving the compliance industry. It now boasts over 2000 memberships. Jackie has been a leading speaker to compliance professionals, including in-house training programs and various other industry association conferences, and has received numerous industry awards. Jackie also serves as Director, Clerk of the New England Broker Dealer Investment Adviser Association (NEBDIAA), a non-profit organization, incorporated in 1997. The purpose of NEBDIAA is to provide a forum for the professional exchange of information among investment advisers, broker dealers, and persons who provide services to investment advisers and broker dealers, and to direct communication among its members which will improve their ability to serve the needs of their respective clients. The forum will help NEBDIAA’s members meet the increased regulatory demands placed on investment advisers, broker dealers, and persons who provide services to investment advisers and broker-dealers.

 
 

Categories
Daily Compliance News

May 7, 2021 the No Wealth edition


In today’s edition of Daily Compliance News:

  • Elizabeth Holmes doesn’t want jury to know of her wealth. (WSJ)
  • Fed concerned with risks and economy. (WaPo)
  • UBS chief says woman should follow him to CEO chair. (Bloomberg)
  • Do you have an AI Ethics Committee? (WSJ)
Categories
Daily Compliance News

Daily Compliance News for May 6, 2021


In today’s edition of Daily Compliance News:

  • Facebook continues to ban Trump. (WSJ)
  • Goldman Sachs says get thee back to the office. (WaPo)
  • NRA move into bankruptcy may backfire spectacularly. (NYT)
  • FIFA manages to rid of prosecutor investigating it. (FT)
Categories
Coffee and Regs

Managing Cyber Insurance Risk

Managing Cyber Insurance Risk
 

In this episode, CSS’s Director of Cyber IT Services E.J Yerzak sits down with AVP, Program Executive at Varney Agency and cyber insurance expert Nick Weiner to discuss the recent NYDFS guidance for insurers that underwrite cyber insurance policies. The guidance includes a Cyber Insurance Risk Framework that provides best practices for managing cyber insurance risk amid concerns of systemic and “silent” risks to the financial sector.

 

 

About Our Guest Speakers:

 

E.J. Yerzak CISA®, CISM®, CRISC™ assists firms in assessing and managing their cybersecurity risk – from network vulnerability scanning and penetration testing to onsite cybersecurity assessments and assistance in implementing the NIST cybersecurity framework. E.J. has authored articles and alerts on emerging regulatory and technology issues, and is regularly requested to speak as a cybersecurity expert at industry conferences.

 
 

Nick Weiner is a commercial insurance agent, with ten years of experience focused on cyber, professional & management liability insurance for financial institutions. Nick firmly believes every professional organization deserves access to a specialist who can design, administer and implement a custom insurance solution. Working with an independent insurance agency gives Nick the opportunity to use his experience, knowledge, and understanding of the marketplace to assist his clients in finding the insurance solutions that meets their needs. At twenty-two, Nick started his own national insurance agency focused solely with the goal of servicing entrepreneurs in the financial services industry. Seven years later, Nick’s business was purchased, and he joined forces with Varney Agency (Portland, ME) to assist in the continued growth of their financial institution’s division. Nick often participates in thought leader groups for the industry and works closely with some advisory focused publications to provide input on insurance related topics.

 
 

Categories
This Week in FCPA

This Week in FCPA-Episode 249 – the Whistleblower edition


Big news in whistleblower information and an award this week. Tom and Jay are back to look at this week’s stories top compliance and ethics stories which caught their interest on This Week in FCPA. We are joined by special guest Asha Palmer to talk about the upcoming Converge21 Workshop Edition.
 Stories

  1. SEC whistleblower program big award and news. Mengqi Sun in WSJ Risk and Compliance Journal. Matt Kelly in Radical Compliance. How did compliance manage reporting during Covid-19. Jaclyn Jaeger in Compliance Week. (sub req’d)
  2. Human capital management. Paul Washington and Rebecca Ray in the Harvard Law School Forum on Corporate Governance.
  3. NYDFS cybersecurity enforcement action against National Securities. In NYU Compliance and Enforcement Blog.
  4. Post pandemic business resiliance. Jim Deloach in CCI.
  5. The cost of unethical requests. Isaac H. Smith, Maryam Kouchaki, and Justin Wareham in the MIT Sloan Management Review. (sub req’d)
  6. To Russia with Love. Mike Volkov on the US ramping up sanctions on Russia. For a deeper dive check out this week’s episode of Embargoed! On the Compliance Podcast Network.
  7. ComEd as a wake up call. Vincent Wu in the Global AntiCorruption Blog.
  8. Making your values stick. Brett Beasley in Center for Ethical Leadership.
  9. The role of complexity in compliance. Risk and Compliance Platform Europe.
  10. Can the government make us more ethical? Jeff Kaplan explores in the Conflict of Interest Blog.

Podcasts and Events

  1. Tom and Megan Dougherty are doing a special podcast series around The Falcon and The Winter Soldier, currently streaming on Disney+. Check out Episodes 1&2, Episode 3, Episode 4, Episode 5.
  2. Affiliated Monitors, Inc.’s Donald Sternand Eric Feldman CFE, CIG, CCEP-I host special guest Rod J. Rosenstein, former Deputy Attorney General and currently a partner at King & Spalding, for part two of an engaging discussion on “The Past, Present and Future of Monitoring”. Rod and Eric conclude with key takeaways at the end of this podcast.
  3. This month on The Compliance Life, Tom welcomes Jonathon Kellerman. In Episode 1, Jonathon discusses the path he took to compliance. In Episode 2, he talked about his early professional career in healthcare compliance consulting. In Episode 3, he moves to the CCO Chair.
  4. For more information on the Converge21, the Workshop Edition, click here.
  5. CCI releases a new eBook, The FCPA Year in Review by the Compliance Evangelist, Tom Fox. You can obtain a copy here. Best of all its available at no charge.
  6. Tom announces his latest book, The Compliance Handbook, 2nd edition is available for presale purchase. Use the code FOX25 and go here. The Compliance Handbook 2ndedition will be available in both print and eBook editions. This week on The Compliance Handbook podcast, Eric Young joins Tom for a deep dive into the role of internal controls in a best practices compliance program.

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.

Categories
Coffee and Regs

ESMA Updates, MiFIR & Transaction Reporting Trends

ESMA Updates, MiFIR & Transaction Reporting Trends

 

In this episode, CSS’s Chief Product Officer Ronan Brennan sits down with Regulatory Specialist Nicklas Nilsson to discuss the latest updates from ESMA on MiFIR in the world of transaction reporting and the trend to consolidate regulatory reporting and data going forward.

 

About Our Guest Speakers:

 

Ronan Brennan is the Chief Product Officer at Compliance Solutions Strategies (CSS). In his role, he has direct responsibility for the strategic evolution of the global suite of CSS products and regulatory content. Managing product in CSS involves ensuring the product suite is ready to support both the current and future compliance management and regulatory reporting needs of investment management and advisory firms globally. Ronan participates as a speaker in many industry events each year, in addition to publishing a company blog and development of thought leadership materials. Ronan has 26 years of experience in the technology sector, 21 of which have been spent in the investment data management and regulatory reporting space.

 

 

Nicklas Nilsson is a Regulatory Specialist at CSS concentrating on global transaction reporting, including SFTR, MiFIR and EMIR. Nicklas is currently in a cross-functional role covering the regulations from analysis to implementation. He has eight years of experience working in the finance industry, including operational experience in fund reporting and regulatory implementation. Prior to joining CSS, Nicklas held positions at Swedbank, SEB and Wahlstedt Sageryd.

 
 

Categories
Coffee and Regs

Mastering the Marketing Rule

Mastering the Marketing Rule

 

In this episode, CSS’s Co-Executive Directors of Compliance Services Keith Marks and Jackie Hallihan sit down to discuss actionable takeaways on implementing the SEC’s new Marketing Rule for registered investment advisers within the next 18 months.

 

 

About Our Guest Speakers:

 

Keith Marks is involved in the management and distribution of Compliance Solutions Strategies’ (CSS) products and services. He works across CSS to find regulatory data and reporting solutions that investment managers need. Keith manages a team of Directors, Consultants and Compliance Managers in CSS’s Compliance Services team who provide consulting, annual compliance program reviews, risk assessments, on-site mock examinations, registration services, and cybersecurity services to institutional wealth managers, private fund managers, retail wealth advisers, and registered investment companies. He also helps coordinate educational conference agendas and speakers. Keith is an author, product contributor, and thought leader. His product contributions have included the design of the Form ADV Part 2 Template distributed to over 6,000 advisers in 2010-12, and his vision of compliance program management built into CSS’s Compliance Management solution. With his colleagues, Keith’s most recent significant publication is “Big Data, Using Data Analytics”, Modern Compliance vol. 2, ch. 23 (2017). Keith joined Ascendant in 2007, and became a part of CSS in 2016. Prior to Ascendant, Keith was an instructor for the Center for Compliance Professionals and Director of Investment Adviser Services at National Regulatory Services (NRS). Keith practiced law previously as an Associate with Day, Berry & Howard LLP (now Day Pitney LLP), a Hartford, Connecticut law firm in 1996-98. Keith served as a law clerk for two years in Connecticut’s Supreme Court and Appellate Court after earning his Juris Doctor degree Magna Cum Laude from Western New England University School of Law and his Bachelor of Arts Magna Cum Laude from the University of Connecticut. He is a member of the State Bar of Connecticut, and is actively involved in raising funds for the Polycystic Kidney Foundation (www.pkdcure.org). Keith served as President of the New England Broker Dealer Investment Adviser Association (NEBDIAA), a non-profit organization, incorporated in 1997, from 2012-17. He has been on the Board of Directors of SOAR Educational Enrichment, Inc. since 2013, and Board Chair since 2015. SOAR is a privately funded 501(c)(3) providing educational enrichment programs to Keith’s local elementary school.

 
Jackie Hallihan is the Co-Executive Director of CSS’s Compliance Services team and has over 25 years’ regulatory and risk management experience. She was the founder of National Regulatory Services (NRS) which started the compliance resource business and served as its President for over 20 years. She also founded the National Society of Compliance Professionals (NSCP), a non-profit organization for compliance officers, staff and lawyers serving the compliance industry. It now boasts over 2000 memberships. Jackie has been a leading speaker to compliance professionals, including in-house training programs and various other industry association conferences, and has received numerous industry awards. Jackie also serves as Director, Clerk of the New England Broker Dealer Investment Adviser Association (NEBDIAA), a non-profit organization, incorporated in 1997. The purpose of NEBDIAA is to provide a forum for the professional exchange of information among investment advisers, broker dealers, and persons who provide services to investment advisers and broker dealers, and to direct communication among its members which will improve their ability to serve the needs of their respective clients. The forum will help NEBDIAA’s members meet the increased regulatory demands placed on investment advisers, broker dealers, and persons who provide services to investment advisers and broker dealers.

Categories
Coffee and Regs

Preparing Now for a PRIIPs KID Project Plan

In this episode, CSS’s resident document production experts, Shane O’Sullivan and Charles Seigle-Goujon sit down to discuss how to prepare now for the UCITS to PRIIPs transition using best practices from the insurance industry and getting data governance procedures in place today.

About Our Guest Speakers:

Shane O’Sullivan recently joined the CSS team and is Director of Sales for the Irish market. Prior to joining CSS, Shane spent six years working for Institutional Investor in Melbourne and London. Shane managed new and existing relationships with global fund managers in Australia, America, UK and the Middle East. In 2018, Shane returned to Ireland to take a role with FundAssist to develop new business with global asset managers to meet their regulatory challenges. Shane holds a BA in Economics and a Masters in Financial Economics from University College Cork.
 
 

 
Charles Seigle-Goujon joined the Fund Reporting branch of CSS at the beginning of 2017 to develop the strategy in France, Switzerland and Luxembourg thanks to 10 years of experience in sales and account management for the Financial industry. Starting his career at Amundi and Henderson in institutional sales for alternative funds in Paris, he then moved to the Fintech industry in mid-2009 in Singapore where he was the head of Client Relationship Management South East Asia at FIS – ex SunGard Global trading.