In today’s edition of Daily Compliance News:
There’s no such thing as low risk or no risk.
Crafting a web of bribery with a corrupt law firm, a Nigerian fixer, and Panalpina’s hand landed Parker Drilling in hot waters. Tune in as Tom Fox and Michael DeBernardis explore the facts of the Parker Drilling case, why overestimating risk is always for the better, how proper conduct impacts sentencing, and why having the right people can impact outcomes.
▶️ Parker’s Offshore Oil Drilling with Tom Fox and Michael DeBernardis
Key points discussed in the episode:
✔️ Tom Fox lays out the basics of the Parker bribery case.
✔️Michael DeBernardis explains the points on the Nigerian agent’s efforts, bribery for unfair business advantage, the lack of due diligence, and fake invoices.
✔️ Tom Fox points out Sarbanes-Oxley as the main driver of compliance, the power of internal controls, the blurry calculations of discounts on the final sentencing, and the impact of Dan Chapman.
✔️ Michael DeBernardis highlights how the FCPA system maintains sentencing consistency but still has room for tightening and the nuances of every bribery case.
✔️Tom Fox underscores the importance of good conduct for the credit and an unanswered question. Michael DeBernardis reaffirms why having the right people in place is beneficial.
✔️ Tom Fox and Michael DeBernardis leave their final thoughts on the case: Have a second set of eyes on dubious wire transfers. Rethink how risk analysis is done. Focus on what you’re doing every step of the way.
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In today’s edition of Daily Compliance News:
Now 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. In this episode, we look at a burgeoning scandal from north of the border in Hockey Canada. Highlights include:
Resources
Matt in Radical Compliance
In this episode, I take on a solo pod to discuss and consider the Oracle FCPA enforcement action brought by the Securities and Exchange Commission.
Key areas we discuss on this podcast are:
Resources
For a White Paper on the Oracle FCPE enforcement action, email tfox@tfoxlaw.com
