Tag: corporate governance

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Innovation in Compliance

Innovation in Compliance: Tina Grubisa on Creating a Culture of Governance with Athennian

Innovation comes in many areas and compliance professionals need to not only be ready for it but embrace it. Join Tom Fox, the Voice of Compliance, as he visits with top innovative minds, thinkers, and creators in the award-winning Innovation in Compliance podcast. This month’s sponsor of Innovation in Compliance is Athennian.

In this episode, Tom welcomes Tina Grubisa, Industry Consultant, Fund Operations at Athennian, to discuss how Athennian can help to drive a culture of governance at your organization.

In this episode, Tina Grubisa discusses her career transition from finance to a tech startup, ultimately landing at Athennian as a Fund Operations consultant. Athennian, a cloud-based entity management platform, is known for aiding private equity, law firms, and corporations in automating compliance tasks and enhancing corporate governance. The conversation covers Athennian’s value proposition in the market, focusing on its innovative use of AI to evolve from a system of record to one of engagement and intelligence. Tina highlights Athennian’s role in helping clients stay ahead of regulatory demands, such as the SEC’s private fund rule, and building a culture of governance within an ESG framework. Additionally, the platform’s user experience and customer feedback are integral to its ongoing innovation process. Tina also explores future trends in governance and compliance, emphasizing the increasing importance of transparency and the potential impact of AI by 2030.

Key Highlights:

  • Building a Culture of Governance
  • Corporate Trends and AI in Governance
  • Future of Workflow Platforms
  • Advice for GRC Professionals Going Forward

Resources:

Tina Grubisa on LinkedIn

Athennian

Tom Fox

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The Corruption Files

The Corruption Files: Navigating Corporate Governance: The Hutchison Whampoa Scandal

What is stranger than fiction? The stories of worldwide corruption. In this podcast series, co-hosts Tom Fox, the Voice of Compliance and Mike DeBernardis, partner at Hughes Hubbard, discuss some of the most audacious corruption cases in anti-corruption enforcement. More importantly, they will discuss the lessons learned on what your organization can do to prevent running afoul of international anti-bribery laws.

In this episode of Season 2, Tom and Mike explore a unique corporate scandal from early 2000s Hong Kong involving Hutchison Whampoa Limited.

Unlike typical cases, there were no allegations of bribery, corruption, or significant financial penalties. Instead, the scandal revolved around the complex corporate governance issues and the control wielded by billionaire Li Ka-shing. The conversation delves into the importance of robust corporate governance, particularly in safeguarding the interests of minority shareholders in companies dominated by powerful individuals or families.

Tom and Mike highlight the expanding role of compliance professionals in overseeing corporate governance, especially with the rise of Environmental, Social, and Governance (ESG) criteria. They discuss the importance of board independence, the need for effective internal controls, and how compliance professionals can aid in board training. With compelling examples, such as the interlock of directors in the energy sector and the Bluebell Ice Cream scandal, the episode provides a thorough insight into how corporate governance issues can impact reputations and operational integrity.

Key Highlights:

  • Corporate Governance and Compliance
  • The Role of Boards in Risk Management
  • Compliance Professionals and Corporate Governance
  • Importance of Independent Board Members
  • Internal Controls and Compliance
  • Training Boards for Effective Governance

 Resources:

Mike DeBernardis on LinkedIn

HughesHubbardReed

Tom Fox

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Everything Compliance

Everything Compliance: Episode 137, The Boeing Pleads Guilty Edition

Welcome to the only roundtable podcast in compliance as we celebrate our second century of shows.

In this episode, we welcome Karen Moore as a permanent panelist.

We have one topic for this episode, the Boeing guilty plea, which we slice and dice from a variety of perspectives. Karen is joined by Jonathan Marks, Jonathan Armstrong, and Matt Kelly as panelists, all hosted by Tom Fox.

  1. Karen Moore considers that there are multiple stakeholders involved with Boeing and will they be covered in the resolution? She shouts out to the UK for their seamless transition of power after the July 4 election and to the Men’s Football team for making the UEFA Cup Final.
  2. Matt Kelly asks multiple questions about the form of the guilty plea and what it may mean for compliance professionals going forward. He rants about Tractor Supply which ditched its DEI and sustainability efforts based on one Twitter campaign.
  3. Jonathan Armstrong takes a look at the Boeing plea deal from his uniquely British perspective, with 3 takeaways. He shouts out to the new British Prime Minister, Sir Keir Starmer.
  4. Jonathan Marks considers corporate governance and internal control failures. He rants about Board members who do not understand Board governance.
  5. Tom Fox shouts out to Pittsburgh rookie Paul Skenes for his great first season and being named the Starting Pitcher for the All-Star Game.

The members of the Everything Compliance are:

The host, producer, rantor (and sometimes 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 award-winning Compliance Podcast Network.

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Everything Compliance - Shout Outs and Rants

Everything Compliance: Shout Outs and Rants – Episode 137, The Boeing Edition

Welcome to the only roundtable podcast in compliance as we celebrate our second century of shows.

In this episode, we welcome Karen Moore as a permanent panelist. She is joined by Jonathan Marks, Jonathan Armstrong, Matt Kelly, and Tom Fox for shout-outs and rants.

  1. Karen Moore shouts out to the UK for their seamless transition of power after the July 4 election and to the Men’s Football team for making the UEFA Cup Final.
  2. Matt Kelly rants about Tractor Supply, which ditched its DEI and sustainability efforts based on one Twitter campaign.
  3. Jonathan Armstrong shouts out to the new British Prime Minister, Sir Keir Starmer.
  4. Jonathan Marks rants about Board members who do not understand Board governance.
  5. Tom Fox shouts out to Pittsburgh rookie Paul Skenes for his great first season and being named Starting Pitcher for the All-Star Game.

The members of Everything Compliance are:

  • Jonathan Armstrong is a partner at Punter Southall in London.
  • Karen Moore is an Adjunct Law professor at the Fordham School of Law.
  • Matt Kelly is the founder of Radical Compliance.
  • Jonathan Marks is a partner at BDO.

The host of Everything Compliance is Tom Fox, who is the founder of the Compliance Podcast Network.

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Everything Compliance

Everything Compliance – Episode 127, The Awesome Edition

Welcome to the only roundtable podcast in compliance as we celebrate our second century of shows. In this episode, we have the quartet of Jonathan Armstrong, Matt Kelly, and Jay Rosen, all hosted by Tom Fox, joining us on this episode to discuss some of the topics they are watching in 2024.

  1. Matt Kelly looks at the recently enacted Foreign Extortion Prevention Act (FEPA). He rants about the SEC getting hacked around the Bitcoin ETF announcement and reminds everyone to use two-factor authentication.
  2. Tom Fox shouts out to the University of Michigan for winning the College Football National Championship.
  1. Jonathan Armstrong looks at the intersection of AI and Operational Resilience and ties it to the need for greater Board skills in these areas. He shouts out to Jay Rosen, who is in transition and would be a great addition to any compliance product or service BD team.
  1. Jay Rosen opines on the DOJ’s Expectations for Data Driven Analytics in 2024. He shouts out to Robert Kraft and the New England Patriots for paying departing coach Bill Belichick his full 2024 salary.
  1. Jonathan Marks asks, What does it mean to be on a Board in 2024? He rants about the Philadelphia Eagles.

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
  • Karen Woody – One of the top academic experts on the SEC. Woody can be reached at kwoody@wlu.edu
  • 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 can be reached at jtmarks@gmail.com.

The host, producer, ranter (and sometimes 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.

For more information on Ethico and a free White Paper on top compliance issues in 2024, click here.

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10 For 10

10 For 10: Top Compliance Stories For The Week Ending January 6, 2024

Welcome to 10 For 10, the podcast that brings you the week’s Top 10 compliance stories in one podcast each week. Tom Fox, the Voice of Compliance, brings to you, the compliance professional, the compliance stories you need to be aware of to end your busy week. Sit back, and in 10 minutes, hear about the stories every compliance professional should be aware of from the prior week. Every Saturday, 10 For 10 highlights the most important news, insights, and analysis for the compliance professional, all curated by the Voice of Compliance, Tom Fox. Get your weekly filling of compliance stories with 10 for 10, a podcast produced by the Compliance Podcast Network.

  1. Senator Menendez draws more charges. (CNN)
  2. Political protests are a compliance risk. (WSJ)
  3. Can the Big 4 ever govern themselves? (FT)
  4. SpaceX illegally fired workers for protected conduct. (NYT)
  5. Broader DEI fights are coming to the Boardroom. (NYT)
  6. Trump companies took in $7.8 in payments from foreign governments and officials. (WSJ)
  7. A suspended Altice office leaves the company. (Bloomberg)
  8. AML whistleblower programs will help in greater ABC efforts. (Bloomberg)
  9. Taking on the banking culture of drive fast, crash.(WSJ)
  10. How FEPA will change ACP enforcement.(WSJ)

You can check out the Daily Compliance News for four curated compliance and ethics-related stories each day here.

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Sunday Book Review

Sunday Book Review: November 12 , 2023 The Corporate Governance (Larcker and Tayan) Edition

In the Sunday Book Review, I consider books that would interest the compliance professional, the business executive or anyone who might be curious. It could be books about business, compliance, history, leadership, current events or anything else that might interest me. In today’s edition of the Sunday Book Review, Tom considers three books by Stanford professors David Larcker and Brian Tayan on corporate governance.

  • The Art and Practice of Corporate Governance by Larker and Tayan
  • Corporate Governance Matters (3rd ed)  by Larker and Tayan
  • A Real Look at World Corporate Governance by Larker and Tayan
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All Things Investigations

All Things Investigations: Episode 38 – CCO Certification – A Better Approach with Kevin Abikoff

In this episode of All Things Investigation, Tom Fox and guest Kevin Abikoff discuss the Department of Justice’s introduction of a CCO certification in the wake of FCPA violations. Kevin offers his unique perspective on this issue; their conversation also explores broader issues of corporate governance and the role of the Board of Directors.

Kevin Abikoff is a Partner and Deputy Chair at Hughes Hubbard & Reed. He is a recognized authority in corporate governance and compliance. 

You’ll hear Tom and Kevin discuss:

  • Kevin questions the necessity of the CCO certification, suggesting it addresses a problem that doesn’t exist, given the absence of complaints from the Department of Justice about dishonesty during monitorships.
  • A more practical approach, Kevin posits, is a certification 12 to 24 months after a monitorship ends to empower CCOs during periods of vulnerability truly.
  • Measuring compliance effectiveness is subjective and may be void of vagueness in a legal context.
  • In the broader realm of corporate governance, the board has a pivotal role in overseeing compliance. Parallels to the Caremark duty and Delaware law are drawn.
  • Kevin raises concerns about the burden on CCOs to assess program effectiveness retrospectively, especially considering the dynamic nature of compliance programs over time.
  • Boards should take responsibility for compliance certifications and should sign off on these certifications, mirroring similar practices in financial reporting.
  • Innovation within compliance may be stymied if CCOs fear that enhancing a program might be used against them in the future, Kevin points out.

KEY QUOTES:

“I’ve just never heard, especially from the context of Chief Compliance Officer, that the DOJ feels like they’re being lied to. If that’s not the problem they’re trying to solve, I think the solution they have paved is, again, a solution in search of a problem that doesn’t exist…” – Kevin Abikoff

“If you’re going to have a certification and you want to empower the chief compliance officer, have the certification twelve months, 24 months after the conclusion of the monitorship and have the CCO certify that they continue to believe that the policies, procedures, things that have been put in place, continue to be in place.” – Kevin Abikoff

“Now what you fail to investigate can kill you.” – Kevin Abikoff

Resources:

Hughes Hubbard & Reed website 

Kevin Abikoff on LinkedIn

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FCPA Compliance Report

FCPA Compliance Report – Dottie Schindlinger on Corporate Governance and the Diligent Institute

Welcome to the award-winning FCPA Compliance Report, the longest-running podcast in compliance. In this episode, Tom Fox welcomes Dottie Schindlinger, Executive Director of the Diligent Institute.

The Diligent Institute, the governance research arm of Diligent Corporation, is on a mission to promote governance excellence by providing valuable resources and support to board members and senior leaders. Through research, thought leadership, podcasts, web shows, and certification programs, the institute addresses topics such as climate leadership, ESG, cyber risk, strategy, and AI ethics. Programs like the Next Gen Board Leaders Program and Director Network software facilitate peer-to-peer networking and board opportunities.

The Diligent Academy offers e-learning certification programs for directors, while the Diligent Forum provides a platform for directors to discuss specific themes with guest speakers. The conversation emphasizes the importance of empowering board members with the right information and insights to make informed decisions. It also discusses the changing role of directors in today’s business landscape, with a focus on digital transformation, cybersecurity, and customer satisfaction. The Diligent Institute aims to be a trusted resource for directors, providing valuable knowledge and understanding of their needs.

Key Highlights

  • Diligent Institute: Empowering Board Leaders
  • Diligent Academy and Forum
  • ESG Momentum
  • ESG Views and Director Confidence
  • The Changing Role of Directors

 Resources

Dottie Schindlinger on LinkedIn

The Diligent Institute

Tom Fox

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2 Gurus Talk Compliance

2 Gurus Talk Compliance – Episode 2

What happens when two top compliance commentators get together? They talk compliance of course. Join Kristy Grant-Hart and Tom Fox for their new podcast, 2 Gurus Talk Compliance! But it is not simply Kristy and Tom talking compliance. In this podcast series Kristy and Tom review  other top commentators in compliance as well. In this podcast, we will consider all things compliance, corporate ethics, ESG, governance, and whatever else is on our minds and the minds of other experts in the field. Kristy and Tom explore all of these topics with expertise and wit.

2 Gurus Talk Compliance will include a deep dive into the latest headlines, as well as ask hard hitting questions and provide valuable insights on the current happenings of the world. Don’t miss out this week, as Tom and Kristy look at how the new DOJ pilot program and update to the evaluation of corporate compliance program guidance will affect dailiness operations.

 Highlights Include

·      Moral hazard for DOJ/Compliance

·      Global Corporate Governance Trends for 2023

·      Assessment of Monaco/Polite Speeches and new ECCP

·      Compliance in the Metaverse

·      Five hard leadership bills to swallow.

·      Former Blue Bell CEO Pleads Guilty

·      $9 Million Cow Manure Ponzi Scheme

·      Lessons Learned from Ericsson’s DPA Breach

·      Serious Fraud Office Abandons Prosecution

·      2023 Evaluation of Corporate Compliance Programs

 Notable Quotes

1.      “The effect on the economy is much more severe than I would have ever thought. The market tanked, basically, for 3 days. And of course, the market runs on perceptions. Pretty much like bank runs run on per perceptions.”

2.     “We had some assets disappear over the weekend. We’ve had the federal government come in at backstop that amount, full amount, not just limited to the 250000 per person or entity that the FDIC ensures I think banking regulations will probably change forever because of this event.”

3.      “A couple of weeks ago, we had 2 major speeches by deputy attorney general Lisa Monaco and Kenneth Polite, at the ABA white collar conference that were followed by the release of an updated 2023 version of the Evaluation of Corporate Compliance Programs, a new policy regarding monitors as well, and the announcement of a pilot program.”

Resources 

  1. Moral hazard for DOJ/Compliance 
  2. Global Corporate Governance Trends for 2023 
  3. Assessment of Monaco/Polite Speeches and new ECCP
  4. Compliance in the Metaverse
  5. Five hard leadership bills to swallow
  6. Former Blue Bell CEO Pleads Guilty to Misdemeanor Over Listeria Outbreak
  7. Central Valley Man Pleads Guilty to Nearly $9 Million Cow Manure Ponzi Scheme
  8. Lessons Learned from Ericsson’s DPA Breach: An Internal Investigation Nightmare
  9. U.K. Serious Fraud Office Abandons Prosecution of Former G4S Executives
  10. DOJ Announces Major Changes To Corporate Compliance Program Evaluation

Connect with Kristy Grant-Hart on LinkedIn

Spark Consulting

Connect with Tom Fox on Linkedin