Tag: compliance

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This Week in FCPA

Episode 196 – the We Won’t Screw You (Again) edition

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As the new Wells Fargo CEO tells Congress that things are really different this time, Tom and Jay reflect on the corporate scandal that may well never end and consider some of the other top compliance articles and stories which caught their eye this week.

  1. Compliance Week has a plethora of articles relating to Wells Fargo. Aaron Nicodemus considers the testimony of Charlie Scharf; Jaclyn Jaeger on Lessons Learned and Board resignations. (Even though a subscription is required for these articles, if you go to Compliance Week site and register for a free account to view four articles at no charge.)
  2. John Wood Group reserves $46MM for anti-corruption settlement. Dylan Tokar in the WSJ Risk and Compliance Journal.
  3. Is unified transaction monitoring a paneca? Sujata Dasgupta explains in CCI.
  4. Is every email a FCPA violation? Bill Steinman asks in the FCPA Blog.
  5. OCC issues some excellent guidance around 3rd Matt Kelly considers in Radical Compliance.
  6. Wow moments in compliance, Part 4. Geert Vermeulen continues his 5-part series in Risk and Compliance Platform Europe.
  7. What are the dangers of a hyper-focused sales culture? Mike Volkov explores in Corruption, Crime & Compliance.
  8. Supply Chain and coronavirus. Global Supply Chain Blog.
  9. Economic crime levy in UK. Jonathan Rausch considers in Dipping Through Geometries.
  10. Banks behaving badly, parts 3088 and 3089. SwedBank and Fifth Third.
  11. On the Compliance Podcast Network, Tom opens a new month by looking at the role of innovation in compliance on 31 Days to a More Effective Compliance Program.This week saw the following offerings: Monday-Compliance capabilities needed to use AI programs; Tuesday-4 practices for delivering an AI solution; Wednesday-Finding compliance patterns in raked leaves; Thursday-Using AI in compliance contracting; Friday-taming complexity in compliance. 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. This month’s sponsor is Affiliated Monitors, Inc.

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 195 – the Where are you going for Spring Break edition


With travel bans coming to the fore, Jay worries about Spring Break while Tom heads to DisneyWorld. They take a break to consider some of the top compliance articles and stories which caught their eye this week.

  1. The Cardinal Health FCPA enforcement action. Harry Cassin breaks the story on the FCPA Blog. Tom looks at business relationships in the FCPA Compliance and Ethics Blog. Matt Kelly considers management’s role in Radical Compliance. Mike Volkov considers on Corruption Crime and Compliance. Jaclyn Jaeger considers on Compliance Week. (sub req’d)
  2. Is your compliance program effective? Mike Volkov explores on Corruption Crime and Compliance.
  3. The Astros sign stealing scandal and breach of fiduciary duty. Mike Peregrine in the Harvard Law School Forum on Corporate Governance.
  4. CRO fined $450,000 individually for failures in compilance. Kristin Broughton in the WSJ Risk and Compliance Journal.
  5. Does conflict rob you of success? Linda Henman in CCI.
  6. Wow moments in compliance, Part 3. Geert Vermeulen continues his 5-part series in Risk and Compliance Platform Europe.
  7. Are you under pressure as a compliance professional. We suggest you read Julie DiMauro in the FCPA Blog (and then listen to both David Bowie and Queen)
  8. How can you manage digital disruption? Jim DeLoach considers in Part 1 of a two-part series on CCI.
  9. On the Compliance Podcast Network, Tom opens a new month by looking at the role of innovation in compliance on 31 Days to a More Effective Compliance Program.This week saw the following offerings: Monday-What is Innovation in Compliance; Tuesday-Welcome to ComTech; Wednesday-skills needed for innovation; Thursday-the advantage of data in compliance; Friday-strategies for and with AI in compliance. 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. This month’s sponsor is Affiliated Monitors, Inc.
  10. Join Tom in Houston on March 10 as Convercent is hosting a Roundtable, from 12-2 at Steak 48. Our featured speaker will be Philip Winterburn and featured guest is Terri Springer from HP. We will focus on key KPIs for compliance. Information and Registration here.
  11. Join Tom in NYC on Thursday, March 12 as Convercent is hosting an Innovation Forum from 3:30-7 PM at Santina. This event will allow you to network with like-minded individuals within the ethics and compliance space and hear from Thomas Fox and Philip Winterburn as well. For more information and registration click here.
  12. If not Houston or NYC, how about joining Tom in Philly? Join Baker Tilly and the Philadelphia Chapter of the Institute of Internal Auditors for the 2020 Fraud and Ethics Symposium. Information here and registration 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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Popcorn and Compliance

Leadership Lessons from Out of Africa


Richard Lummis and I are back. Today, continue our annual review of Oscar winning Best Pictures and the leadership lessons drawn from them. Over the next four weeks we will consider the following movies: Casablanca, Rocky, The Greatest Show on Earth and Out of Africa. Today, we conclude our series with Out of Africa.
Highlights of this podcast include:

  1. What are our favorites scenes from the movie?
  2. What are the leadership lessons from Karen Blixen?
  3. What are the leadership lessons from Denys Finch Hatton?
  4. Is your business resilient?
  5. Culture outside the US?
  6. Do these lessons from this movie hold up today?

Resources
Leadership Lessons from Out of Africa
Study Guide to Out of Africa
A Historian Goes to the Movies
Out of Africa – 10 Inspirational Quotes from Karen Blixen

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This Week in FCPA

Episode 193 – the Astros Blowback Continues edition

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As the blowback on the Astros, MLB, Commisioner Rob Manfred continues to get worse, Jay and Tom are back to consider some of the top compliance articles and stories which caught our eye this week.

  1. Airbus still making news. Asher Miller provides 5 key takeaways for the compliance practitioner in the FCPA Blog. Dylan Tokar reports on more follow on investigations in the WSJ Risk & Compliance Journal. Joanne Taylor joins Tom on the FCPA Compliance Report to consider the UK perspective. Tom considers the French enforcement perspective in the FCPA Compliance and Ethics Blog.
  2. Another sentencing in the PdVSA ongoing bribery scandal. See the DOJ Press Release.
  3. What are WOW moments in compliance? Geert Vermeulen begins a 5-part series in Risk and Compliance Platform Europe.
  4. How do compliance officers show their worth? Dick Cassin explain in the FCPA Blog.
  5. Is it time to rebalance your 3rd party risk management strategy? Mike Volkov reports in Corruption Crime and Compliance. Mike writes about the importance of classifying your 3rd parties in Navex Global’s Ethics & Compliance Matters blog.
  6. Is the tide turning against whistleblowers? Aaron Nicodemus explores in Compliance Week. (sub req’d)
  7. Civil damages for corruption claims? Rick Messick considers on the Global Anti-Corruption Blog.
  8. New round of Alstom employee indictments. Dick Cassin reports in the FCPA Blog.
  9. What is a moral hazard moment? Jeff Kaplan explains on the Conflict of Interest blog.
  10. On the Compliance Podcast Network, Tom begins a one month look at the role of HR in compliance on 31 Days to a More Effective Compliance Program.This week saw the following offerings: Monday-succession planning and compliance; Tuesday-compliance performance appraisal review; Wednesday-Hiring a CCO: developing a job profile; Thursday-sales incentives and compliance;Friday-the exit interview. 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.
  11. Join Tom to watch Jay on the panel with other compliance experts in the Dow Jones Refining Compliance Risk event in Hosuton on Tuesday, February 25 from 10 AM to 12 PM. For information and registration click here.
  12. Join Tom in NYC on Thursday, March 12 as Convercent is hosting an Innovation Forum from 3:30-7 PM at Sabrina. This event will allow you to network with like-minded individuals within the ethics and compliance space and hear from Thomas Fox and Philip Winterburn as well. For more information and registration click 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 191 – the All Hail Airbus edition


Reports are that Airbus would settle corruption allegations for nearly $4bn in England were correct. Jay and Tom are back to consider some of the top compliance articles and stories which caught our eye this week.

  1. Airbus commentary is out. Dick Cassin on the FCPA Blog, Mike Volkov on Corruption Crime and Compliance, Tom Fox on the FCPA Compliance and Ethics Blog and Jonathan Armstrong on Cordery Compliance all lead the discussion.
  2. COSO warns of siloed compliance. Kristin Broughton in the WSJ Risk and Compliance Journal.
  3. Odebretch extends monitorship 9 months. Will that be enough? Mengqi Sun explores in the WSJ Risk and Compliance Journal.
  4. What about small annual changes in the TI-CPI? Matthew Stephenson goes diadic in the Global Anti-Corruption Blog.
  5. Is new DOJ Guidance a sword or shield or both? Jay continues his series in CCI.
  6. How to grow your compliance program as your company scales. Gio Gallo explains in CCI.
  7. Worried about CCO liability? Matt Kelly explores on Radical Compliance.
  8. Bernie Ebbers passes. A moment of silence for his role in compliance. Jim Zarolli in NPR.
  9. Speaker programs and big pharma. WilmerHale lawyers opine in NYU’s Compliance and Enforcement Blog.
  10. On the Compliance Podcast Network, Tom begins a one month look at the role of HR in compliance.This week saw the following offerings: Monday-introduction to the role of HR in compliance; Tuesday-the role of HR in creating an ethical culture; Wednesday-the hiring process; Thursday-the reference check. Friday-incentivizing compliance. 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.
  11. Join Tom for the webinar, The Houston Astros: Ethics, Compliance and Sign Stealing onThursday February 13, at 2 PM CST. 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.

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This Week in FCPA

Episode 184 – the The Rise of Skywalker edition

Tom and Jay are awaiting their bookings to see the final installment in the 9-part series of the Star Wars saga. While waiting, they consider of this week’s top compliance and ethics stories which caught their collective eyes.
1.     Tim Leissner settles with the SEC. Dick Cassin. Tom takes a deep dive in the FCPA Ethics and Compliance blog.
2.     Aly McDevitt with two great articles on talks at CW Third Party Conference.
3.     Mexico getting serious about fighting corruption. Luis Dantón Martínez Corres in the FCPA Blog.
4.     Culture lessons from Coca Cola. Gary Patterson and Robert Baker in CCI.
5.     Jay looks at the expansion of the corporate integrity monitor, in CCI.
6.     Cyber enforcement and FTC expectations. Avi Gesser and Molly O’Malley Clarke in NYU’s Compliance and Enforcement blog.
7.     What is the intersection of corp oversight and disobidience? Elizabeth Pollman in the Harvard Law School Forum on Corporate Governance.
8.     How and why should you manage your corp culture? Jim DeLoach in CCI.
9.     New DOJ Cooperation Policy on Trade Sanctions and Export Control. Matt Kelly in Radical Compliance.
10.  Insurance to protect you from populism? Liam Fitzpatrick on the D&O Diary.
11.  On the Compliance Podcast Network, Tom and Jay celebrate the opening of The Rise of Skywalker with a five part podcast series on the intersection of Star Wars (IV-VIII) and compliance. In Part 1, A New Hope and Risk; in Part 2, The Empire Strikes Back and Due Diligence; in Part 3, The Return of the Jedi and Effective Training; in Part 4, The Force Awakens and Disruption in Compliance and in Part 5, The Last Jedi and BOD Role in Succession.
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.
For more information on how an independent monitor can help improve your company’s ethics and compliance program, visit our sponsor Affiliated Monitors at www.affiliatedmonitors.com.

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Everything Compliance

Episode 56-the Compliance Year Under Trump, Part 2

Welcome to the only roundtable podcast in compliance. Today, we close out the year with Part 2 of a two-part series on our fan favorite year-end wrap up on the state of compliance under the Trump Administration. We have been following this topic since Trump was elected in 2016 and it one of the most anticipated podcast releases for the year. Today, we have a triple serving of Sarah Hadden, Jonathan Armstrong and Mike Volkov with a potpourri of topics. Rants and shouts outs follow the commentary for this episode.

  1.  Mike Volkov reviews the FCPA enforcement year. Volkov shouts out to the Justice Department’s FCPA trial team which secured several guilty verdicts at year’s end in individual prosecutions under the FCPA.
  2. Jonathan Armstrong discusses the year in antibribery enforcement from the UK perspective by reviewing the SFO’s successes and failures. Armstrong shouts out to Sir Rod Stewart for a compliance related project.
  3. Sarah Hadden takes a look back over her first year as CCI Publisher and highlights some of the top features, stories, news items and new voices in compliance. She shouts out to James Bone and Columbia University’s risk management survey.

 Resources:
Participate in the Columbia University risk management project headed by James Bone, here.
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
  • Sarah Hadden –Publisher at Corporate Compliance Insights. Hadden can be reached at Sarah@corporatecomplianceinsights.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.

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This Week in FCPA

Episode 181-the Fishy Letters edition

SEC Chair Jay Clayton is reduced to having a PR firm create fake investor comments to support a SEC rule change. The Astros cheating scandal gets worse. As Tom worries MLB might take away his replica World Series Championship Trophy and Jay consoles him about when a team cheats and wins, they turn to some other of this week’s top compliance and ethics stories which caught their collective eyes.

  1. Using the same defense as Hoskins, Boustani admits bribery and corruption in Mozambique Tuna Boat case. Will it work out any better for him? Steward Bishop and Frank Runyeon in Law360. (Sub Req’d)
  2. SEC whistleblower tips go down for the first time. Kristen Broughton in the WSJ Risk and Compliance Journal. Kevin LaCroix sees it otherwise, on the D&O Diary.
  3. Jay Clayton gins up fake written comments to support regulation change. Zachary Mider and Ben Elgin report in Bloomberg.
  4. Former Keppel Offshore lawyer sentenced to time served. Dick Cassin reports in the FCPA Blog.
  5. Why punishing the bribe takers is equally important as punishing the bribe payors? Matthew Stephenson explains it all in the Global Anti-Corruption Blog.  
  6. Does an aggressive position in a Wells submission hurt a company in a SEC enforcement action? Lawyers from Simpson Thatcher explore in NYU’s Compliance and Enforcement Blog.
  7. What is ‘enforcement fatigue’ and how did Alstom overcome it? Dylan Tokar reports in the WSJ Risk and Compliance Journal.
  8. of Treasury bringing more sanctions cases against shipping companies. Kristin Broughton reports in the WSJ Risk and Compliance Journal.
  9. What will risk and compliance look like in 2020? David Banks considers in Navex Global’s Ethics & Compliance Matters blog.
  10. How does M&A benefit from an independent assessment? Jay continues his series on CCI.
  11. What are the implications of Gen Z on the front lines of compliance? Gaurov Kapoor explores in CCI.
  12. Recent FCPA enforcement actions shows the SEC will use FCPA Accounting Provisions to hold a company liable for ineffective AML controls. Clay Porter in the National Law Review.
  13. Navex’s Loren Johnson joins the podcast to talk about Navex Global’s 2020 Benchmarking Survey.You can participate in Navex Global’s annual survey by clicking 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.
For more information on how an independent monitor can help improve your company’s ethics and compliance program, visit our sponsor Affiliated Monitors at www.affiliatedmonitors.com.

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Everything Compliance

The Not Headed to Doral edition

Welcome to the only roundtable podcast in compliance. Today, we have a quintet of Jay Rosen, Matt Kelly, Sarah Hadden, Jonathan Armstrong and Mike Volkov with a potpourri of topics and commentary on current events from the compliance perspective. Rants and shouts outs follow the commentary for this episode, with one public service announcement from across the pond.

  1. Mike Volkov takes a deep dive into the debate on whether a Chief Compliance Officer should report to the GC or not. Volkov shouts out to Harvard Law Professor Matthew Stephenson for his great blog site Global Anti-Corruption Blog and specifically his recent blog post, If You Don’t Think Conflicts of Interest Matter, Consider the Kurds.
  2. Jay Rosen discusses the role ethics and compliance in the Mergers and Acquisition process. Rosen shouts out General James Mattis’ and his remarks at the Alfred Smith Dinner where accepted Trump’s claim he was the ‘most-overrated general’ by noting Trump had said 3-time Oscar winner Meryl Streep was the ‘most-overrated actress.’
  3. Sarah Hadden takes things a different direction by reading the eBook Trump and Compliance which was published in late 2016 and was based on the Everything Compliance gang’s predictions of how compliance would fare under the Trump Administration. Hadden shouts out to a new section of CCI which will focus on those persons early in their compliance careers. It is certainly a welcome addition to the compliance discussion.
  4.  Matt Kelly provides breaking news by discussing the SEC proposed changes to its Whistleblower Program. Kelly shouts out to Boston Celtic Enes Kantor for calling out the NBA on its hypocrisy on China.
  5. Jonathan Armstrong discusses the growing tide of US-style class actions coming to the UK and EU around the issue of data breaches under GDPR. Armstrong provides a public service announcement around the perils of using Apple Pay and the failure to Document Document Document.
  6. Tom Fox rants about the surreal news conference given by Acting Chief of Staff Mick Mulvaney where he (1) admitted the President violated US law in requiring a quid pro quo from Ukraine for the Congressionally mandated US aid package, claiming it was ‘just politics’ and (2) admitted the President violated the Emoluments Clause of the US Constitution by announcing the President had ordered the 2020 G-7 Summit to be held at Trump properties.

Resources:
From Jonathan Armstrong, on the always great Cordery Compliance site:
UK Data Protection Regulator Announces Intention to Fine BA after Data Breach
Life with GDPR – Episode 22 – Morrisons And Vicarious Liability
Client Alert: Doors open for data protection class action as appeal court allows Google claim to proceed?
 From Matt Kelly, the coolest guy in Compliance, on Radical Compliance:
SEC Tees up Whistleblower Reforms
 From Mike Volkov’s remarks, two articles from Compliance Week (sub req’d)
Point: Why CCOs should report to GC by Jeff Kaplan
Counterpoint: CCO, GC independence is critical by Matt Stankiewicz
From Sarah Hadden, the eBook published by CCI:
Trump and Compliance-the Conversation is Just Getting Started
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
  • Sarah Hadden –Publisher at Corporate Compliance Insights. Hadden can be reached at Sarah@corporatecomplianceinsights.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.

Categories
Innovation in Compliance

Content is King with Andrea Falcione and Tricia Cornell


Andrea Falcione and Tricia Cornell of Rethink Compliance, one of the most innovative companies in the compliance space, join Tom Fox in this week’s show. They discuss their compliance journeys, and how content is reshaping the world of compliance.

Their Compliance Journeys
Andrea is a lawyer by profession. In 2004 she transitioned into compliance; she joined Rethink Compliance about a year ago. Tricia comes from the marketing and advertising world. The founder of Rethink, Kirsten Liston, asked her to join the company two years ago to bring her expertise in creating pieces of content to persuade people to think differently about commercial products, into the compliance space.
Content is King
Tom asks the guests to explain what ‘Content is king’ means, and why it’s so important and innovative in compliance. Tricia explains that it means that people are curious: they want to read, listen, and view videos, so compliance experts have to make their content consumable and desirable, and through that get their brand message out there. Andrea says that legal and compliance professionals find this idea difficult because they are essentially risk averse. When they send a message, it’s more about mitigating risk than engaging their audience. However, many organizations are getting negative feedback from their content consumers, so there is a need to create content that is relevant and engaging. This is becoming more and more critical, as regulators are looking at the effectiveness of companies’ efforts. 
Building Trust with Content
Andrea and Tricia share a piece of content created by ReThink Compliance in response to the Me Too Movement, is helping to change perceptions. Compliance officers should think about using content in different ways to get people to trust the process and the people involved in it, Andrea says. 
A Holistic Approach to Content
Tricia advises that a holistic approach to content starts with reaching your audience where they are. What are their attitudes? What are they looking for from their work? If you start with where they are and understand what they need from you, you’ll reach them more effectively with your message. Always think about how you can make your message relevant to your people. This can help build trust too, Andrea adds. If you think about what your audience needs to hear from you, they will begin to trust you more. 
Revamping the Code of Conduct
Tom asks, how or why can a code of conduct revamp be a powerful tool for a compliance practitioner. Andrea responds that the code of conduct is the cornerstone of every compliance program. As such, it needs to be a document that employees actually use, one that is meaningful and resonates with them. It all comes back to thinking about what your audience needs, Tricia emphasizes. If you want the code of conduct to be a resource, then you must think about where and when your people will need it. What questions might they have? How can you answer those questions in a way that’s easy for them to find the information they’re looking for? She points out that you need to make sure that information is easy to find, and written in language that’s easy to understand, so that they can make the right decision in the moment.
Resources
RethinkComplianceCo.com
LinkedIn: Andrea Falcione | Tricia Cornell | Kirsten Liston