Tag: compliance

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This Week in FCPA

Episode 218 – the Bags of Cash edition

Tom and Jay brave the surge in Covid cases by staying safe at home. They are back to look at top compliance articles and stories which caught their eye this week.

  1. World Acceptance bribed with bags of cash. Mike Volkov in Crime Corruption & Compliance.
  2. Implications from the end of Privacy Shield. Lawyers from Debevoise & Plimpton in NYU’s Compliance and Enforcement blog.
  3. NRA shoots itself in foot over non-compliance? Kyle Brausser in Compliance Week. (sub req’d)
  4. Using lessons learned. Jeff Kaplan and Rebecca Walker in CCI.
  5. Dick Cassin asks ‘are agents ever legal under the FCPA?’ in the FCPA Blog.
  6. Applying 2020 Updates to anti-trust compliance. Matt Kelly writing in Navex Global’s Ethics and Compliance Matters.
  7. What is a metric’s inventory and why do you need one? Tom explains in the FCPA Complaince and Ethics Blog.
  8. Follow on corruption litigation is expensive. Kevin LaCroix in the D&O Diary.
  9. This month on The Compliance Life, I am joined by Louis Sapirman. In Part 1, we looked at Louis personal and professional journey into compliance. In this week’s Part 2, we discussed the qualities of a successful CCO.
  10. On Compliance and Coronavirus this week, we had John Fanning discusses the increased need for due diligence during Covid-19, Andy Goldstrom on compliance adaptations during Covid; and Jed Gardner on business as usual.
  11. On the Compliance Podcast Network, on 31 Days to a More Effective Compliance Program, this month focuses on the role of the Board in compliance. This week saw the following offerings: Monday-BOD’s inquiring up and down; Tuesday– the BOD’s role in internal controls; Wednesday-BOD as an internal control; Thursday– BOD governance and risk oversight; and Friday-what is your Board’s investigative protocol. The month of August is being sponsored by Affiliated Monitors. 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 Jay and Tom at Converge20. Convercent’s top compliance conference is going virtual this year. Check at the agenda and register 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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Daily Compliance News

August 13, 2020-the Office of Anti-Corruption edition


In today’s edition of Daily Compliance News:

  • Former Pinterest No. 2 sues for discrimination. (NYT)
  • Prosecutors in Mexico open investigation into former President. (com)
  • Tipster in Varsity Blues gets one year in prison. (WSJ)
  • City of LA approves Office of Anti-Corruption for city government. (Patch.com)
Categories
31 Days to More Effective Compliance Programs

Inquiring up and down

Where does “tone at the top” start? With any public and most private U.S. companies, it is at the Board of Directors. But what is the role of a company’s Board in compliance? First a Board should not engage in management but should engage in oversight of a CEO and senior management. The Board does this through asking hard questions, risk assessment and identification.
Initially it must be important that the Board receive direct access to such information on a company’s policies on this issue. The Board must have quarterly or semi-annual reports from a company’s CCO to either the Audit Committee or the Compliance Committee. Every Board should create a Compliance Committee to deal with compliance issues, as an Audit Committee may more appropriately deal with financial audit issues. A Board Compliance Committee can devote itself exclusively to non-financial compliance. The Board’s oversight role should be to receive such regular reports on the structure of the company’s compliance program, its actions and self-evaluations. From this information the Board can give oversight to any modifications to managing FCPA risk that should be implemented. CCO reporting to the Compliance Committee must be structured carefully to promote ethics and compliance.
Three key takeaways:

  1. A Board Compliance Committee should provide oversight not management.
  2. A CCO should use multiple reports to communicate with the Board Compliance Committee.
  3. Board Compliance Committee oversight makes companies more efficient and at the end of the day more profitable.
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Sunday Book Review

August 9, 2020, the Sunday Book Review, Old is New edition


In today’s edition of Sunday Book Review:

Categories
This Week in FCPA

Episode 217 – the Fahrenheit 451 edition


How does Fahrenheit 451 foretell non-compliance regulation in Germany? Tom and Jay brave the surge in Covid cases by staying safe at home to tell the tale. They are back to look at top compliance articles and stories which caught their eye this week.

  1. OFAC focusing on screening errors. Mike Volkov with a 3-part series on Corruption Crime and Compliance. Part 1, Part 2 and Part 3
  2. There is no single panacea for stopping corruption. Matthew Stephenson in GAB.
  3. 5 top steps for data transfer after Schrems III. Neil Hodge in Compliance Week. (sub req’d)
  4. What’s the cost of non-compliance? For Wells Fargo, a staggering $15.8 Billion. Matt Kelly explores on Radical Compliance.
  5. Fahrenheit 451, compliance and German regulators? Rosemary Lark considers in the FCPA Blog.
  6. Coronavirus Comeback planner. Navex Global’s Ethics and Compliance Matters.
  7. A compliance approach to excessive force in policing. Joseph Murphy and Emil Moschella in NYU’s Compliance and Enforcement
  8. Crisis preparedness and the BOD? Joydip Day explores in CCI.
  9. This month on The Compliance Life, I am joined by Louis Sapirman. In Part 1, we looked at Louis personal and professional journey into compliance.
  10. AMI week on Compliance and Coronavirus as Maurice Gilbert discusses the compliance hiring scene Covid-19, Andy Goldstrom on business sustainability; and Laura Petrolino on storytelling for communications.
  11. On the Compliance Podcast Network, Tom begins a new month on 31 Days to a More Effective Compliance Program, this month focusing on the role of the Board in compliance. This week saw the following offerings: Monday-legal obligations of the BOD; Tuesday– prudent discharge of BOD obligations; Wednesday-BOD Compliance Committees; Thursday- OIG guidance for BODs; and Friday-Compliance expertise on the BOD. The month of July is being sponsored by Affiliated Monitors. 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 Jay and Tom at Converge20. Convercent’s top compliance conference is going virtual this year. Check at the agenda and register 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.

Categories
Creativity and Compliance

Happy 4th Anniversary to Learnings and Entertainment


Where does creativity fit into compliance? In more places than you think. Problem-solving, accountability, communication, and connection – they all take creativity. Join Tom Fox and Ronnie Feldman on Creativity and Compliance, part of the Compliance Podcast Network. In this show, we take a personal journey with Ronnie Feldman as he celebrates the 4th Anniversary for Learnings & Entertainment and reflects back on his journey.
Some of the highlights include:

  • What has Ronnie learned in his journey through compliance?
  • Why does compliance need a bunch of comedians?
  • What are the lessons for the compliance professional?
  • How has the compliance community evolved over the past 4 years?
  • Where is it going?
  • What does Ronnie see for Learning & Entertainment?

Resources:
Ronnie Feldman (LinkedIn)
Learnings & Entertainments (LinkedIn)
Ronnie Feldman (Twitter)
Learnings & Entertainments (Website)
60-Second Communication & Awareness Shorts – A variety of short, customizable, quick-hitter “commercials” including songs & jingles, video shorts, newsletter graphics & Gifs, and more. Promote integrity, compliance, the Code, the helpline and the E&C team as helpful advisors and coaches.
Workplace Tonight Show! Micro-learning – a library of 1-10-minute trainings and communications wrapped in the style of a late-night variety show, that explains corporate risk topics and why employees should care.
Custom Live & Digital Programing – We’ll develop programming that fits your culture and balances the seriousness of the subject matter with a more engaging delivery.

Categories
Everything Compliance

Episode 64, the Dog Days of Summer edition


Welcome to the only roundtable podcast in compliance. Today, we have the full quintet of Jonathan Armstrong, Jay Rosen, Matt Kelly, Jonathan Marks and Mike Volkov for a potpourri of discussions and ending with a veritable mélange of rants and shouts outs.

  1. Jonathan Armstrong critiques the recent SFO conviction of two former Unaoil employees and the controversary the SFO and its Director, Lisa Osofsky now find themselves in regarding their conduct. Armstrong shouts out to the West Indies cricket team for traveling to the UK to play at Lord’s.
  2. Jay Rosen considers telemedicine in the time of Covid-19. What does it mean for the practice of medicine? What are the compliance issues involved? Jay rants about the Trump Administration targeting surveillance on journalist in Portland and across the country.
  3. Matt Kelly looks at two recent US domestic corruption cases; one in Illinois involving ComEd and one in Ohio involving the Speaker of the Ohio House of Representatives. Matt shouts out to Rebecca Jones the former Florida state employee who left the government to start her own public record of Covid-19 in Florida when the state quit reporting on it.
  4. Mike Volkov looks at two recent OFAC enforcement actions. One involved Amazon and defective tracing software. The second Essentra, doing business with North Korea and shell companies. He draws out the lessons learned from both cases. He shouts out to podcasters and the podcasting community for getting their messages out.
  5. Jonathan Marks considers parallels he has observed in the development of the compliance profession from those he lived through in the Internal Audit world after Enron and WorldCom. He shouts out to the IIA for beginning the discussion to reconfigure its 3 Lines of Defense but chides them for not going far enough.
  6. Tom Fox rants about those attacking fellow Buffalo Wing addicts. 

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 Compliance Evangelist. Everything Compliance is a part of the Compliance Podcast Network. He can be reached at tfox@tfoxlaw.com

Categories
This Week in FCPA

Episode 216 – the 1MDB Moves Towards Resolution edition

 
As the international fight against corruption took two small steps forward this week in the 1MDB case, Tom and Jay brave the surge in Covid cases by staying safe at home. They are back to look at top compliance articles and stories which caught their eye this week.

  1. Goldman Sachs settles with Malaysia for nearly $4bn. Ben Otto and Chester Tay report in the WSJ. Former Malaysia PM convicted in 1MDB scandal, Harry Cassin reports in the FCPA Blog.
  2. Mike Volkov reports on two big enforcement actions in Pharma. Indivior and illegal marketing of opioid products. Taro Pharma and price-fixing.
  3. What are the shared elements in a best practices compliance program? Jaclyn Jaeger explores in Compliance Week. (sub req’d)
  4. How can you test your hotline? Matt Kelly explores on Radical Compliance.
  5. Why is Germany soft of corporate crime? Dick Cassin considers in the FCPA Blog.
  6. Whistleblower management in the EU. Frank Staelens in CCI.
  7. How can you audit AI? James Bone explores in CCI.
  8. What should be the goal of effective internal controls? Alex Movchan interviews Edmund Sanders in Risk and Compliance Platform Europe.
  9. This month on The Compliance Life, I am joined by Scott Sullivan, Chief Integrity and Compliance Officer at Newport Mining. In Part 1, we discussed the need for empathy in a CCO. In Part 2, we looked at reading the tea leaves and staying ahead of the (corp) wolf pack. In Part 3, we considered who a CCO needs on their compliance team. In this concluding Part 4, we look at the CCO and compliance function down the road.
  10. AMI week on Compliance and Coronavirus as Jerry Coyne discusses telemedicine and Covid-19, Don Stern on how Covid-19 will impact federal prosecutors and Mikhail Reider-Gordon compliance issues during the business reopenings.
  11. On the Compliance Podcast Network, Tom concludes the topic of 3rd party risk management. This week saw the following offerings: Monday-freight forwarders; Tuesday– risk ranking in the Supply Chain; Wednesday-data and 3rd party risk management (Vin DiCianni as guest); Thursday-enforcement actions; and Friday-wrap up. The month of July is being sponsored by Affiliated Monitors. 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.  Join us in August for the role of the Board of Directors.
  12. Upcoming Webinars:

K2-FIN, Windward, and C4ADS Webinar—New Sanctions Developments in the Maritime Sector: UK Sanctions Shipping Guidance and Venezuelan Shipping in Focus, August 5, 2020 at 10:45 to 11:45 AM EST; with Juan Zarate and Eric Lorber. Registration and Information 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.

Categories
Compliance and Coronavirus

Mikhail Reider-Gordon on Compliance During Business Reopening During Covid-19


Welcome to the newest addition to the Compliance Podcast Network, Compliance and Coronavirus. In this episode, I visit with Mikhail Reider-Gordon who is Managing Director of Institutional Ethics and Integrity at AMI. In this role, she oversees the company’s corporate monitoring programs across a spectrum of industries. We discuss the compliance challenges in business reopenings (and perhaps closings) in the summer of 2020 and through the rest of the year.
Some of the highlights include:

  • What are some of the key issues in business reopenings during Covid-19?
  • What will continue for compliance during the summer of 2020 and through the rest of the year?
  • Why is oversight even more important during Covid-19?

For me information check out the Affiliated Monitors website here.

Categories
The Compliance Life

Scott Sullivan -What will the CCO of the future look like?


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 Scott Sullivan, the Chief Integrity and Compliance Officer at Newmont Mining.
Scott Sullivan is a versatile and innovative governance, risk, compliance, ethics and legal executive with significant experience advising C-suite leaders and Boards of Directors in a global enterprise in a wide array of sensitive, high profile subject matter areas. He has extensive leadership in designing, implementing and enhancing world-class programs and favorably resolving regulatory crises for multinationals. He has managed ethics and compliance for a $5B global Fortune 500 corporation, directing a Business Integrity & Compliance function impacting 20,000 employees in over 55 countries with over 100 legal entities.
In this final episode, Sullivan discusses how the role of a CCO has evolved from a legal response to government enforcement under the FCPA; driven by lawyers to something else. We consider some of some of the biggest changes for Sullivan has observed. We conclude by looking down the road, as we move into the 2020s where Sullivan sees compliance moving to? It includes data, data, data – continuous monitoring, automation, finely tuned machine and how some of the changes wrought by Covid-19 accelerate these trends and perhaps others; including remote options, less travel and opportunities outside traditional comfort zone for compliance professionals.