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2 Gurus Talk Compliance

2 Gurus Talk Compliance: Episode 28 — CZ v. SBF Edition

What happens when two top compliance commentators get together? They talk about compliance, of course. Join Tom Fox and Kristy Grant-Hart in 2 Gurus Talk Compliance as they discuss the latest compliance issues in this week’s episode!

In this episode, Tom and Kristy take on a wide variety of compliance related topics.

One of the key issues they look at are reports suggesting China is strategically relocating forced labor from the Uyghur region to different parts of the country in an attempt to bypass US laws prohibiting goods sourced from areas associated with forced labor.

This could trigger wider limitations on goods originating from China, stressing the necessity for intensive audits and transparency in business operations. This issue has sparked bipartisan concern, hinting at potential upcoming legal actions.

Tom stresses the need for companies to react effectively to reduce risks, possibly through on-the-ground audits and increased accountability in business operations in China. Kristy underscores the need for thorough audits and proactive measures in response to the risks associated with forced labor in China. She raises the possibility of legal consequences for companies found to be misleading about their involvement with forced labor. Both perspectives serve to underline the gravity and complexity of this issue.

Highlights Include:

  • An ex-McKinsey partner says he was scapegoated. (Reuters)
  • CFTC names its first AI Chief. (WSJ)
  • CZ gets 4 months. (WSJ)
  • FCPA violator Ericsson bemoans ‘over-regulation’.  (FT)
  • Corporate investigations are under scrutiny.   (FT)
  • China Moving Forced Laborers Amid U.S. Crackdown, Biden Official Says (WSJ)
  • Robinhood Crypto gets Wells notice from US SEC (Reuters)
  • Report Spotlights Privacy Access Requests (Radical Compliance)
  • Why Employee Bonuses Do Not Work (and What to Do Instead) (Inc.)
  • A Florida man runs to the police for help after committing a crime and ends up behind bars. (Aol.)

Resources:

Kristy Grant-Hart on LinkedIn

Spark Consulting

Tom

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10 For 10

10 For 10: Top Compliance Stories For The Week Ending May 4, 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. The Exxon Pioneer merger was approved (with a caveat).  (NYT)

2. The US sanctions Chinese companies for supplying the Russian Army.  (NYT)

3. An ex-McKinsey partner says he was scapegoated. (Reuters)

4. TikTok parent discloses internal investigations of bribery and corruption. (South China Morning Post)

5. CFTC names its first AI chief. (WSJ)

6. CZ gets 4 months. (WSJ)

7. FCPA violator Ericsson bemoans ‘over-regulation’. (FT)

8. Corporate investigations are under scrutiny.  (FT)

9. The US Supreme Court will not hear Musk’s appeal of the SEC order. (Reuters)

10. India to look into bribery allegations against Cognizant Technologies. (Deccan Herald)

 

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

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Daily Compliance News

Daily Compliance News: May 1, 2024 – The 4-Month Edition

Welcome to the Daily Compliance News. Each day, Tom Fox, the Voice of Compliance, brings you 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.

Each day, we consider four stories from the business world: compliance, ethics, risk management, leadership, or general interest for the compliance professional.

In today’s edition of Daily Compliance News:

  • CZ gets 4 months. (WSJ)
  • FCPA violator Ericsson bemoans ‘over-regulation’. (FT)
  • Can’t get a contract? Sue the lawyers. (Reuters)
  • Meta sued the EU over election misinformation.  (NYT)

For more information on the Ethico ROI Calculator and a free White Paper on the ROI of Compliance, click here.

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Daily Compliance News

Daily Compliance News: April 25, 2024 – The In Bad Faith Edition

Welcome to the Daily Compliance News. Each day, Tom Fox, the Voice of Compliance, brings you 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.

Each day, we consider four stories from the business world: compliance, ethics, risk management, leadership, or general interest for the compliance professional.

In today’s edition of Daily Compliance News:

  • The NPR chief says criticism was brought ‘in bad faith’. (WSJ)
  • The DOJ wants a 3-year prison term for the former Binance CEO.  (Bloomberg)
  • A Deputy Russian Defense Minister was arrested on corruption charges. (CNN)
  • Boeing families want criminal charges filed. (Reuters)

For more information on the Ethico ROI Calculator and a free White Paper on the ROI of Compliance, click here.

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Compliance Into the Weeds

Compliance into the Weeds: Binance Pays $4+ Billion for Criminal Acts

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 more fully explore a subject. Looking for some hard-hitting insights on sanctions compliance? Look no further than Compliance into the Weeds! In this episode, Tom and Matt take a deep dive into the Binance enforcement action brought by the DOJ, OFAC, FinCEN, and the CFTC.

In a landmark case that has sent shockwaves through the cryptocurrency industry, Binance, the world’s largest cryptocurrency trading platform, has been slapped with a staggering $4.3 billion fine for intentionally violating anti-money laundering laws and other financial regulations. Tom views this as a significant turning point, marking the end of the libertarian experiment around cryptocurrency and alternative financial systems. He believes that the hefty penalties imposed on Binance, along with other smaller enforcement actions in the crypto world, are a clear message from regulators that the crypto sector must comply with US laws and regulations.

Matt echoes Fox’s sentiments, emphasizing that the enforcement actions against Binance and other cryptocurrency ventures signify the end of the libertarian experiment around cryptocurrency. He underscores the deliberate and intentional nature of Binance’s violations, stating that they knowingly deceived and evaded compliance regulations. Join Tom Fox and Matt Kelly on this episode of the Compliance into the Weeds podcast as they delve deeper into this case and its implications for the cryptocurrency industry.

 Key Highlights:

  • Binance’s $4.3 Billion AML Violation
  • Deceptive Evasion of Regulations in Cryptocurrency
  • Extensive Monitorship to Address Compliance Deficiencies
  • Binance’s Non-Compliance Leads to Legal Consequences
  • Personal Liability of the CCO
  • End of Crypto?

 Resources:

Matt’s blog post in Radical Compliance

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Daily Compliance News

Daily Compliance News: November 28, 2023 – The Hung Out to Dry Edition

Welcome to the Daily Compliance News. Each day, Tom Fox, the Voice of Compliance, brings you compliance-related stories to start your day. Sit back, enjoy a cup of morning coffee, and listen in to the Daily Compliance News. all from the Compliance Podcast Network. Each day we consider four stories from the business world: compliance, ethics, risk management, leadership, or general interest for the compliance professional.

Stories we are following in today’s edition:

  • Tesla really doesn’t want unions in Sweden. (FT)
  • UK defendants say bribes were approved by the UK government. (Bloomberg)
  • CZ wants to go home. (Forbes)
  • Palm oil corruption in Honduras (The Guardian)
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Daily Compliance News

Daily Compliance News: August 1, 2023 – The Accident Waiting to Happen Edition

Welcome to the Daily Compliance News. Each day, Tom Fox, the Voice of Compliance brings to you compliance-related stories to start your day. Sit back, enjoy a cup of morning coffee, and listen in to the Daily Compliance News. All, from the Compliance Podcast Network. Each day we consider four stories from the business world, compliance, ethics, risk management, leadership, or general interest for the compliance professional.

  • Binance founder draws scrutiny from German regulator. (WSJ)
  • Lead FBI agent talks about Householder case. (Columbus Dispatch)
  • US asks SCt to delay Purdue Pharma settlement. (Reuters)
  • eBike for adult or motorcycle for kids: disaster in the offing. (NYT)