Tag: corruption

December 16, 2022 – The Boyfriend Confesses Edition

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Post date December 16, 2022
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Welcome to the Daily Compliance News. Each day, Tom Fox, the Voice of Compliance, brings you four compliance-related stories to start your day. Sit back, enjoy a cup of morning coffee and listen to the Daily Compliance News. All from the Compliance Podcast Network.

Stories we are following in today’s edition of Daily Compliance News:

Eva Kaili’s boyfriend confesses. (Reuters)
A new round of Russian sanctions. (NYT)
Corporate ownership viewing rights. (WSJ)
Racism lawsuit against Tesla gaining ground. (Bloomberg)

Tags bribery, corruption, EU, Eva Kaili, Qatar, Russia Sanctions, Tesla

Daily Compliance News

December 15, 2022 – The Neymar Acquitted Edition

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Post date December 15, 2022
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Stories we are following in today’s edition of Daily Compliance News:

Ex-Twitter employee gets three years for spying for Saudi. (Reuters)
Pods are part of the pump and dump scheme. (NYT)
Ericsson gets an additional year of the monitorship. (WSJ)
Neymar was acquitted of corruption charges. (ESPN)

Tags corruption, DPA, Ericsson, FCPA, Neymar, twitter

Compliance Into the Weeds

OCC ALJ Slams Ex-Wells Fargo Execs

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Post date December 14, 2022
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The award-winning, Compliance into the Weeds is the only weekly podcast that takes a deep dive into a compliance-related topic, literally going into the weeds to explore a subject more. In this episode, we continue the ongoing saga of Wells Fargo and its fraudulent accounts scandal. Recently an administrative law judge has affirmed that three former audit and risk management executives at Wells Fargo should face millions in penalties for their sloppy oversight during the bank’s fake-account scandal in the 2010s. The defendants were Claudia Russ Anderson, former group risk officer for Wells Fargo’s community banking division; David Julian, former chief auditor; and Paul McLinko, former executive audit director.

Some of the highlights include:

· The background facts.

· Will the fallout from the Wells Fargo fake accounts scandal ever end? (Hint-When, our Sun, goes supernova.)

· What is failure to provide a credible challenge?

· Why are these execs trying to defend their inaction?

· Why a clear line of authority is needed in compliance.

· A root cause analysis is a basic Hallmark of an effective compliance program. Why was it separately called out?

· What are the lessons learned for compliance?

Resources

Matt Kelly in Radical Compliance

Tags ALJ, corruption, fraudulent accounts scandal, internal audit, OCC, Wells Fargo

Daily Compliance News

December 14, 2022 – The Who is Eva Kaili Edition

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Post date December 14, 2022
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Stories we are following in today’s edition of Daily Compliance News:

New legislation to target supply chain shortfalls. (WSJ)
Who is Eva Kaili? (WaPo)
Chinese billionaire charged with bribery in US. (Reuters)
Who are the international ABC champions? (US State Dept. Press Release)

Tags Biden Administration Statement on Combatting Corruption, corruption, EU, Qatar, Supply Chain

Daily Compliance News

December 13, 2022 – The SBF Arrested Edition

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Post date December 13, 2022
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Stories we are following in today’s edition of Daily Compliance News:

Guangzhou R&F Properties wanted for bribery in the US. (YahooNews)
Charges brought in Qatar bribes of EU legislators. (NYT)
Braun wants the Wirecard trial suspended. (FT)
DOJ split over charging Binance for money laundering. (Reuters)

Tags bribery, corruption, EU, Markus Braun, Qatar, SBF, Wirecard

All Things Investigations

All Things Investigations: Episode 17 – Kevin Abikoff and Laura Perkins on the FCPA & Anti-Bribery Fall 2022 Alert

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Post date December 12, 2022
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Welcome to the Hughes Hubbard Anti-Corruption and Internal Investigations Practice Group’s Podcast, All Things Investigations. In this podcast, host Tom Fox and guests Laura Perkins and Kevin Abikoff of the Hughes Hubbard Anti-Corruption & Internal Investigations Practice Group highlight some of the key legal issues in white-collar investigations, locally and internationally.

Laura Perkins is a Hughes Hubbard partner whose practice focuses on representing clients in Foreign Corrupt Practices Act and white-collar criminal investigations. She also advises clients on issues related to the FCPA, the federal securities laws, the False Claims Act, and other federal statutes.

Kevin Abikoff is partner, deputy chair at Hughes Hubbard, and Chairman of the firm’s Anti-Corruption & Internal Investigations Practice Group. He specializes in securities and white-collar criminal litigation, enforcement, regulation, and counseling, emphasizing the representation of entities in anti-corruption (including FCPA) matters.

Key ideas we discuss in this podcast:

The DOJ’s recent discussions about requiring Chief Compliance Officer (CCO) certifications.
The Monaco Memo is a guidance document from the DOJ that sets expectations for prosecutors when investigating and prosecuting companies.
How the Monaco Memo is taking a different approach to monitoring.
The Monaco Memo gives companies flexibility in how they approach compliance, demonstrating they take it seriously.
The DOJ can now successfully prosecute internal controls in a criminal context.
Assessing the past year in FCPA.