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Daily Compliance News

March 3, 2022 the 1MDB Deal? Edition


In today’s edition of Daily Compliance News:
·      Did Trump Administration cut deal on 1MDB scandal? (Reuters)
·      Former Illinois House Speaker indicted over ComEd scandal.   (The Hill)
·      Oligarchs in US sanctions sights. (WaPo)
·      Will sanctions drive Russia into crypto? (NYT)

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The Walden Pond

The Walden Pond: Responsible Innovation in Crypto and Compliance


Malcolm Wright is the founder of InnoFi Advisory. As a former Chief Compliance Officer at a large cryptocurrency exchange, Malcolm now advises companies on ensuring responsible innovation in digital finance. All companies, and their compliance officers, need to be familiar with cryptocurrencies and the trend towards decentralized finance. Malcolm describes how current compliance concepts such as “Compliance by Design” and “Know Your Customer (KYC)” are still applicable in the crypto space and gives practical advice to legal and compliance professionals on how to navigate in the crypto future. 

The year 2021 brought with it an explosion of different non-fungible tokens (NFTs) used for funding projects of all shapes and sizes, which often happens in decentralized finance where the whole ecosystem is run by smart contracts – automated contracts driven by code. Having an NFT is basically a digital certificate of provenance. The emergence of these NFTs and their uses has heralded the creator economy, and will revolutionize the way culture, finance, and our societies work.
For the last few years in crypto, there has been significant focus on centralized exchanges and custodians, but recently focus has shifted towards other areas of risk. At InnoFi, they consider how risks can present themselves not only from an anti-money-laundering perspective, but also a consumer protection perspective. 
Resources
Malcolm Wright on LinkedIn
To learn more, and contact Vincent Walden, please visit Alvarez and Marsal

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Daily Compliance News

January 15, 2022 the End of Sick Days Edition


In today’s edition of Daily Compliance News:

  • College degrees and hiring. (NYT)
  • Halbank prosecution put on hold. (Reuters)
  • End of the sick day. (WSJ)
  • Who is responsible when crypto goes bad? (WSJ)
Categories
Everything Compliance

Episode 92 – the Issues in 2022 Edition


Welcome to the only roundtable podcast in compliance. The entire gang was also thrilled to be honored by W3 as a top talk show in podcasting. In this episode, we have the sextet of Karen Woody, Jonathan Armstrong, Matt Kelly and Jay Rosen. We discuss some of the key issues we will be watching in 2022.

1. Karen Woody will be watching the legal evolution around SPACs and expansion of insider trading laws. Karen shouts out to workers in the travel industry for getting travelers home during the holidays.

2. Jay Rosen reviews the considers the Holmes verdict, Tyler Schultz/whistleblowers and the celebrity BOD failure at Theranos. Rosen shouts out to Antonio Brown.

3. Matt Kelly considers the Log4j cybersecurity threat and the SEC move to regulate ESG. Kelly rants about Elon Musk selling his Tesla stock immediately before the company announces a massive product recall.

4. Jonathan Armstrong tackles several topics; ransomware, Safe Harbor, EU Whistleblower Directive, Supply Chain & China. Armstrong shouts out Nicholas Burk and synthetic ransomware attacks.

5. Jonathan Marks looks at the intersection of crypto, currency and crime. Marks rants about the inconsistent information emanating from the CDC.

6. Tom Fox rants about Novak Djokovic.  

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 jonathan.armstrong@corderycompliance.com
•       Jonathan Marks is Partner, Firm Practice Leader – Global Forensic, Compliance & Integrity Services at Baker Tilly. Marks can be reached at jonathan.marks@bakertilly.com
The host and producer, ranter (and sometime 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.

Categories
Daily Compliance News

January 8, 2022 the Crypto Crime Edition


In today’s edition of Daily Compliance News:

  • Crypto crime hit $14bn in 2021. (WSJ)
  • Portuguese corruption erodes trust in government. (FT)
  • MACC under fire for corruption. (This Week in Asia)
  • Roger Ng trial set for February. (Reuters)
Categories
Compliance Kitchen

EU Council on Crypto Asset Transfer


The Kitchen looks at a new EU Council on transparency of crypto-asset transfers.

Categories
Everything Compliance

Episode 90, the Happy Holidays Edition


Welcome to the only roundtable podcast in compliance. The entire gang was also thrilled to be honored by W3 as a top talk show in podcasting. In this episode, we have the quartet of Karen Woody, Jonathan Armstrong, Matt Kelly and Jay Rosen. We end with a veritable mélange of shouts outs and rants.

1. Karen Woody looks at a recent panel of two consisting of the current and most recent chair of the SEC, Gary Gensler and Jay Clayton respectively. Karen shouts out to the Indianapolis Motor Speedway.

2. Jay Rosen considers telemedicine and telehealth coming out of the pandemic. Rosen rants about Tampa Bay receiver Antonio Brown who misrepresented his vaccination status by presenting a fraudulent shot card to the Bucs.

3. Matt Kelly looks at recent imbroglios involving SPACs, their inherent conflicts of interest and corporate governance issues. Kelly has a Shout Out to the Women’s Tennis Association for their pulling their tennis tournaments out of China in the wake of the Chinese government’s treatment of Peng Shuai after she raised issues of sexual harassment against a high-ranking Party member.

4. Jonathan Armstrong takes look at a recent UK data privacy enforcement action against the UK government due to the release of Personal Identifiable Information. Armstrong shouts out to the EU Public Prosecutors Office.

5. Tom Fox has his first dual rant/shout out. He rants about MLB locking out the players, particularly the inanity of doing so during the offseason. He shouts out to Houston Chronicle sports columnist Brian Smith for editorializing that MLB should use this time to fix the game of baseball, instead of trying to simply save a few pennies.  

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 jonathan.armstrong@corderycompliance.com
•       Jonathan Marks is Partner, Firm Practice Leader – Global Forensic, Compliance & Integrity Services at Baker Tilly. Marks can be reached at jonathan.marks@bakertilly.com
The host and producer, ranter (and sometime 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.

Categories
Daily Compliance News

December 9, 2021 the Crypto Goes to Congress Edition


In today’s edition of Daily Compliance News:

  • Why the Chinese failed to understand the Peng Shuai imbroglio. (NYT)
  • FATF says looks at illegal profits in climate change fight. (WSJ)
  • Crypto goes to Congress. (NYT)
  • EU looking into Microsoft/Nuance deal. (Reuters)
Categories
Daily Compliance News

December 3, 2021 the Recidivists on Notice Edition

In today’s edition of Daily Compliance News:

  • DOJ reaffirms recidivists are on notice. (WSJ)
  • Didi de-listing in US. (Bloomberg)
  • Current and former SEC Chiefs trade tips on crypto. (NYT)
  • Did Purdue Pharmacy wrongly hide assets in bankruptcy? (Reuters)
Categories
Coffee and Regs

Digital Assets: Trading & Compliance for Cryptocurrency