Tag: compliance

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31 Days to More Effective Compliance Programs

Day 26 | Compliance function in an organization


The role of the compliance professional and the compliance function in a corporation has steadily grown in stature and prestige over the years. When it came to the corporate compliance function, 2020 FCPA Resource Guide, under the Hallmarks of an Effective Compliance Program, simply noted the government would “consider whether the company devoted adequate staffing and resources to the compliance program given the size, structure, and risk profile of the business.”
This Hallmark was significantly expanded in both the FCPA Corporate Enforcement Policy and 2020 Update. In the FCPA Corporate Enforcement Policy, the DOJ listed the following as factors relating to a corporate compliance function, that it would consider as indicia of an effective compliance and ethics program: 1) the resources the company has dedicated to compliance; 2) the quality and experience of the personnel involved in compliance, such that they can understand and identify the transactions and activities that pose a potential risk; 3) the authority and independence of the compliance function and the availability of compliance expertise to the board; 4) the compensation and promotion of the personnel involved in compliance, in view of their role, responsibilities, performance, and other appropriate factors; and 5) the reporting structure of any compliance personnel employed or contracted by the company.
The 2020 Update and FCPA Corporate Enforcement Policy both demonstrate the continued evolution in the thinking of the DOJ around the corporate compliance function. Their articulated inquiries can only strengthen a corporate compliance function specifically; and the compliance profession more generally. The more the DOJ talks about the independence of the compliance function, coupled with resources being made available and authority concomitant with the corporate compliance function, the more corporations will see it is directly in their interest to provide the resources, authority and gravitas to compliance position in their organizations.
Three key takeaways:

  1. How is compliance treated in the budget process?
  2. Has your compliance function had any decisions over-ridden by senior management?
  3. Beware outsourcing of compliance as any such contractor must have access to company documents and personnel.
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This Week in FCPA

Episode 236 – the Biden Inauguration edition


As we move from the worst and most corrupt President of all time to the Biden Administration and Jay and Rebecca celebrate their daughters ascension to womanhood, Tom and Jay are back to look at some of the top compliance articles and stories which caught their eye this week.

  1. What does the FinCEN enforcement action against Capital One mean for compliance? Jaclyn Jaeger in Compliance Week. (sub req’d) Matt Kelly explores on Radical Compliance. Tom and Matt take a deep dive on Compliance into the Weeds.
  2. The OFAC year in review. Mike Volkov takes a deep dive in Corruption Crime and Compliance.
  3. The Boeing Fraud enforcement action? Tom take a deep dive in the FCPA Compliance and Ethics Blog. Dylan Tokar in the WSJ Risk and Compliance Journal.
  4. Poaching now legal? Paul Weiss lawyers on NYU’s Compliance and Enforcement Blog.
  5. Wells Fargo ex-GC spanked. Jaclyn Jaeger in Compliance Week. (sub req’d)
  6. UAE to fight money-laundering. Jon Rausch (returns) in Dipping Through Geomotries.
  7. More Caremark claims coming? Kevin LaCroix in the D&O Diary.
  8. Are you an introverted compliance professional? Now may be the time for you. Dick Cassin explores on the FCPA Blog.
  9. A new month is here and a new guest on The Compliance Life. Gwen Hassan- Director of Compliance at CNH Industrial. In this month’s third episode, Gwen explains why every compliance professional needs to stay culturally curious. Check out the episode here.
  10. This month, on 31 Days to a More Effective Compliance Program, I look back over 2020 and set out some of the key enhancements you need to do for your compliance program in 2021. Day 16 | 3Rd Party Risk Management Process; Day 17 | Managing Your 3rd parties; Day 18 | Levels of Due Diligence; Day 19 | The Investigation Protocol; Day 20 | Responding to Investigative Findings; Day 21 | Continuous Improvement; Day 22 | Internal Reporting. Note 31 Days to a More Effective Compliance Program now has its own iTunes channel.
  11. Join K2 Integrity on January 27 to hear Olivia Allison and Joanne Taylor discuss the latest E
    U regulatory developments in whistleblowing programs and investigations. Information and Registration here.
  12. Compliance Week is accepting nominations for its Excellence in Compliance Award. Submit your nominee 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.

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This Week in FCPA

Episode 235 – the Impeachment edition


It is certainly a challenging time for the American Democarcy. For his high crimes and misdemeanors against the Constituion and American democary, President Trump has now been impeached for a second time. In the midst of the this, Tom and Jay are back to look at some of the top compliance articles and stories which caught their eye this week.

  1. Recidivist Deutsche Bank settles a second FCPA matter. Tom takes a 5-part deep dive on the FCPA Compliance and Ethics Blog. Matt Kelly looks at red flags and internal controls on Radical Compliance. Tom and Matt take a deep dive on Compliance into the Weeds.
  2. How the FCPA is big business. Harry Cassin explains in the FCPA Blog.
  3. Is an industry sweep headed your way? Dick Cassin explains in the FCPA Blog.
  4. Why you should welcome the NDAA? Matthew Stephenson in GAB. Jonathan Marks on Board and Fraud.
  5. How to use KPIs in your compliance program. Vera Cherapanova in the FCPA Blog.
  6. What are your Board resolutions for 2021? Steve Durbin in CCI.
  7. 2020 was a year of ethical challenges. Mike Volkov explains in Corruption Crime and Compliance.
  8. What are the C-Suite challenges brought on by Coivd-19? Shanil Williams in CCI.
  9. A new month is here and a new guest on The Compliance Life. Gwen Hassan- Director of Compliance at CNH Industrial. In this month’s second episode, In this second episode, we take up the tricky issue of balancing a role as a legal eagle for the company as well as her role in compliance. We also explore the different skill set needed for each of these careers and how it is possible to have both in one person. Check out the episode here.
  10. This month, on 31 Days to a More Effective Compliance Program, I look back over 2020 and set out some of the key enhancements you need to do for your compliance program in 2021. Day 9 | 360 Degrees of Compliance Communications; Day 10 | The Use of Social Media in Compliance; Day 11 | What is Effective Compliance Training?; Day 12 | Financial Incentives for Compliance; Day 13 | Institutional Justice and Fairness; Day 14 | Risk Assessments; and Day 15 | How do you evaluate a risk assessment?. Note 31 Days to a More Effective Compliance Program now has its own iTunes channel.
  11. Join Tom on the Convercent event, “Future-proof your compliance program for 2021”, on Wednesday, January 20th | 11:00 am -1:00 pm ET. For details and registration, click here.
  12. Join K2 Integrity on January 27 to hear Olivia Allison and Joanne Taylor discuss the latest E
    U regulatory developments in whistleblowing programs and investigations. Information and Registration here.
  13. Compliance Week is accepting nominations for its Excellence in Compliance Award. Submit your nominee 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.

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¡(H)Ola Compliance!

¡(H)Ola Compliance! Episodio 8: Enfoque México: Percepciones y Desarrollos

En este episodio nos acompaña nuestro primer invitado, Diego Sierra, Socio en Von Wobeser y Sierra P.C., quien comparte con nosotros su amplia experiencia en materia de anticorrupción y cumplimiento en México. Diego nos platica sobre la expansión del Sistema Nacional sobre Anti-corrupción, analiza y pone en contexto los resultados de la Encuesta de Corrupción en América Latina, y comparte las tendencias que ve en el desarrollo de programas de cumplimiento en México.

Apple Podcasts * Spotify * Amazon Music * Google Podcasts * Stitcher
Preguntas? Contáctenos en podcasts@milchev.com.
¡(H)Ola Compliance! no tiene la intención y no se puede considerar como asesoramiento legal; el contenido solo refleja los pensamientos y opiniones de sus anfitriones.
¡(H)Ola Compliance! explora la ola de cumplimiento de anticorrupción que ha surgido por Latinoamérica. Inmerso en su cariño para la región, Matteson Ellis y Alejandra Montenegro Almonte (Socios de Miller & Chevalier), navegan las aguas de regulaciones de cumplimiento corporativo desde sus oficinas en Washington, DC y trazan las normas de anticorrupción que afectan a la región.  A la vez destacan los desafíos y oportunidades que enfrentan las empresas comprometidas a la ética. ¿Te sientes que estás nadando contra la corriente? ¡Entonces tome la ola de cumplimiento en ¡(H)Ola Compliance!

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Daily Compliance News

December 26, 2020-the Boxing Day edition


In today’s edition of Daily Compliance News, I take things in a different direction as I discuss four books I read this year that every compliance professional should read.

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Daily Compliance News

December 21, 2020-the Exiles edition


In today’s edition of Daily Compliance News:

  • Wasted work, wasted time, wasted space. (WSJ)
  • Can we save the country from monopolization? (WaPo)
  • Of exiles and anti-trust. (NYT)
  • 5 retail marketing trends COs need to consider. (AdAge)
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This Week in FCPA

Episode 233– the Vaccine is Here edition


As Joe Biden is formally elected President by the Electoral College and the Covid-19 vaccine arrives in spite of blunders by the Trump Administration; Tom and Jay are back to look at some of the top compliance articles and stories which caught their eye this week.

  1. The Good, the Bad and the Missing. Dick Cassin with his three top stories in 2020 on the FCPA Blog.
  2. Are you ready for the EU Whistleblower Directive? Cédric Dubar considers in the FCPA Blog.
  3. Using data analytics for the BOD and still satisfying the regulators. 6 CCOs opine in Compliance Week (sub req’d)
  4. What are 7 principles of ethical leadership? Yonason Goldson in CCI.
  5. Leadership failures around sexual harassment at Ft. Hood. Matt Kelly on Radical Compliance. Tom and Matt take gut-wrenching deep dive on Compliance into the Weeds, with special guest Diane St. Ives, who relates her experiences from 40 years ago.
  6. The SEC and SARs. Thomas Gorman on SEC Enforcement
  7. Congress approves new AML law. Jack Hagel in the WSJ Risk & Compliance Journal.
  8. Ephemeral messaging. Debevoise and Plimpton Data Blog.
  9. A new month is here and a new guest on The Compliance Life. Kim Yapchai, Chief Counsel – Environmental, Social & Governance at Tenneco Inc. In this week’s third episode, Kim moves into the CCO chair. Check out the episode here. Check out the full series here.
  10. My podcast with Mikhail Reider-Gordon on Wirecard was so popular we spun it out into its own series, The Wirecard Saga. Check out the latest episode, Who Watches the Watchers.
  11. On 31 Days to a More Effective Compliance Program, we consider Training and Communications. Monday, Communication through persuasion; Tuesday– Multiplying the influence of compliance; Wednesday– Communicating Across Cultural Boundaries; Thursday– Asking questions to boost your compliance program; Friday– Twitter and 360-degrees of communication. Note 31 Days to a More Effective Compliance Program now has its own iTunes channel.
  12. Interested in podcasting? Find out the top trends with this replay of Tom and Megan Dougherty of One Stone Creative in their webinar on the State of Podcasting 2020. Listen to the full webinar here. Want some pointers on designing and starting a podcast, check out this great new report from Megan Dougherty, co-founder of my producing team at One Stone Creative, The State of Business Podcasts, 2020.

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.

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Everything Compliance

Episode 71 – the Year End Review Edition


Welcome to the only roundtable podcast in compliance. Today, we have the full quintet of Jonathan Armstrong, Jay Rosen, Jonathan Marks, Matt Kelly and Mike Volkov for a deep dive into plethora of topics in this special year end review edition. We end with a veritable mélange of rants and shouts outs.

  1. Jonathan Armstrong joins us from London to detail some of the most instructive GDPR cases decided in 2020. Armstrong shouts out to Father Christmas and reminds every one of the Covid-19 danger he faces this year and asked you leave out some hand sanitizer instead of cookies.
  1. Jay Rosen asks, ‘where have all the monitors gone’? Jay rants about how the phrase “take off your mask” has become a tool of sexual harassment.
  1. Matt Kelly considers three key events from 2020 and what they all mean for the compliance professional. The Pandemic, discrimination and social justice, and the election. Matt rants about the GOP members who refuse to accept the results of the election and Electoral College.
  1. Mike Volkov looks at FCPA enforcement in 2020 in general and the Goldman Sachs enforcement action specifically. Volkov shouts out to the 48 states Attorney Generals and the FTC for filing suit against Facebook and rants about former Goldman exec Gary Cohen not agreeing to the 1MDB clawback.
  1. Jonathan Marks looks at the increase of books and records enforcement action under the FCPA Accounting Provisions which can be the basis of a SEC violation where there the actions are neither foreign nor corrupt. In a very Philadelphia shout out/rant (at the same time), Marks delineates the Eagles benching of Carson Wentz.
  1. Tom Fox gives a bittersweet shout out David Prowse who recently died. Prowse was the first actor to play Darth Vader albeit voiced by James Earl Jones. 

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 (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.

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This Week in FCPA

Episode 232 – the Holidays edition


As TrumpLand continues to live in fantasy and denial, going 1-55 in lawsuits while over 3000 American die daily from Covid-19; Tom and Jay are back to look at some of the top compliance articles and stories which caught their eye this week.

  1. The Vitol FCPA enforcement action. Tom takes a deep dive on the FCPA Compliance and Ethics Blog. Part 1, Part 2, Part 3, Part 4. Mike Volkov has a 3-part series on Corruption Crime and Compliance.
  2. Is the SEC whistleblower program too opaque? Harry Cassin considers in the FCPA Blog.
  3. AML reform and a new whistleblower law. Matt Kelly considers in Radical Compliance. Tom and Matt go into the weeds in the latest episode of Compliance into the Weeds.
  4. Is the SEC discouraging whistleblowers under Dodd-Frank. Mengui Sun explores in the WSJ Risk and Compliance Journal.
  5. Where did the Cheesecake Factory go wrong? Sara Kropft in the Grand Jury Target.
  6. 5 Compliance Triumphs from 2020? Kyle Brausser in Compliance Week. (sub req’d)
  7. GDPR compliance challenges in 2021. Steve Horvath in CCI.
  8. China-US audit showdown? Michael Rapoport reviews in The Dig.
  9. A new month is here and a new guest on The Compliance Life. Kim Yapchai, Chief Counsel – Environmental, Social & Governance at Tenneco Inc. In this week’s second episode, we take up the in-house roles In Kim held on her road towards the CCO chair. Check out the series here.
  10. My podcast with Mikhail Reider-Gordon on Wirecard was so popular we spun it out into its own series, The Wirecard Saga. Check out the latest episode, Dirty Deeds Down Under. 
  11. On 31 Days to a More Effective Compliance Program, we consider Training and Communications. Monday, Sharing to 360-degrees of communication Tuesday– Speical Guest Vin DiCianni on Compliance and the clash of cultures.Wednesday– Using 360 Degree of Compliance to Tell a Story; Thursday– Using Communications to Drive a Speak Up Culture; Friday– Using communications to foster your compliance brand. 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. Check out the a replay of London Stock Exchange event which featured Tom, Neta Meidav, CEO, Vault Platform and Maxine Gee, Chief Risk Officer – UK Capital Markets LSE on why culture drives compliance. You can view and listen to it here.
  13. Join K2 Integrity for two great events in December. On Dec. 14, they host a webinar on “Proliferation Financing: Risks, Threats, and Mitigation.” The webinar will explore critical issues around understanding and combatting the financing of WMD proliferation. https://bit.ly/2VujK1O.
  14. On December 17, DOLFIN and K2 Integrity’s financial crimes compliance experts will host their latest “Ask an Expert FINQuiry” webinar. Expect answers to questions on topics such as: the latest developments in AML/CFT, sanctions, fraud, anti-bribery and corruption, and export controls; financial integrity risks related to the global pandemic; and regionally focused financial crime risks. https://bit.ly/39zzhFP

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.

Categories
Everything Compliance

NDAA Creates New Whistleblower Law

Compliance into the Weeds is the only weekly podcast which takes a deep dive into a compliance related topic, literally going into the weeds to more fully explore a subject. In this, our 200th episode Matt and Tom go into the weeds to look at the new anti-money launder whistleblower law (AMLA) which is part for the updated Bank Secrecy Act legislation, included in the National Defense Authorization Act authorization of 2012 (get all that). It significantly expands whistleblower protections for those who come forward with AML or other similar allegations. Some of the issues we consider are:

·      Why has this been created for the Department of the Treasury?

·      Who will administer the whistleblower program?

·      What lessons has Congress learned about protecting whistleblowers?

·      Can a CCO be a whistleblower under this new law? How about a GC?

Resources

For more information see Mengqi Sun’s article in the WSJ Risk & Compliance:

Defense Bill Proposes Anti-Money-Laundering Whistleblower Program 

For an excellent breakdown of the legislation, see the Zuckerman Law Firm’s Whistleblower Protection Law and SEC Whistleblower Awards Blog:

Anti-Money Laundering Act Establishes Whistleblower Reward Program and Protects Whistleblowers from Retaliation