In today’s edition of Daily Compliance News:
Tag: Elon Musk
Welcome to the only roundtable podcast in compliance. In 2021, Everything Compliance was honored by W3 as a top talk show in podcasting. In this episode, we have the quintet of Jay Rosen, Jonathan Armstrong, Jonathan Marks, Karen Woody and Matt Kelly. We conclude with our fan favorite Shout Outs and Rants.
1. Jay Rosen discusses the increased antitrust enforcement by the DOJ in the healthcare arena. Rosen shouts out to Rachael Smith, Gilnet Sainvil and High-Five Man which reminded Rosen of Johnny Bank from his childhood
2. Matt Kelly takes a deep dive into the SEC proposed rules cyber security disclosure. Kelly gives a ‘mild’ rant to the SEC for proposing companies should have to disclose with 4 days after a cyber breach even if law enforcement asks a company not to do so.
3. Jonathan Armstrong looks data transfers from the EU to US and UK. Armstrong goes on his most epic rant ever using 2 funerals and a birthday party to excoriate Tory Politicians to not simply talk the talk but follow the rules when it comes to Covid-19 protocols.
4. Karen Woody wades into Elon Musk and his dalliances about investing in and potentially buying Twitter. Woody rants about the recent Declination with Disgorgement given to a MarshMac subsidiary in the UK, the Jardine Group Holdings and says this is simply a NPA and should be monikered as such.
5. Jonathan Marks discusses the difference between Tone at the Top and Conduct at the Top and why so many companies are falling short in the latter. Marks shouts out to Phillies 3rd baseman Alec Bohm who went from Phillies’ fan goat to hero with a mea culpa and SF Giants assistant coach Alyssa Nakken, who became the first female to take the field and coach in the history of MLB.
6. Fox shouts out to author Margaret Atwood and in her book The Handmaiden’s Tale, which is not a dystopian novel but a prophecy of current Texas in 2022.
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.
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. This week, Matt and Tom take on the strange comings and goings of Elon Musk and his participation on the Twitter Board of Directors. Highlights include:
· When and how did Musk become Twitter’s largest shareholder?
· Why was he asked to come on to the Board?
· SEC filing requirement issues?
· What role did the various stakeholder groups, including employees, have in Musk turning down the Twitter Board seat?
· What are the compliance and governance issues to be learned?
In today’s edition of Daily Compliance News:
- Musk backs down from Twitter Board. (Reuters)
- In-person RIMS returns. (WSJ)
- Crypto usage is higher in corrupt countries. (Finbold)
- Zuma trial postponed yet again. (Al Jazeera)
In this episode of the FCPA Compliance Report, I am joined by Professor Karen Woody from Washington & Lee Law School. We discuss the recent filing by attorneys for Elon Musk and Tesla to revoke the previously agreed to Consent Decree over his 2018 tweets about taking Tesla private at $420 per share and then withdrawing it a week later. Highlights in include:
· What is the legal basis for the Motion?
· Can a court hear an equitable claim for a regulatory consent decreed?
· What is the remedy Musk is seeking?
· What about his $20MM fine, which has been paid?
· Is the SEC harassing Musk for alleging violations of the Consent Decree?
Resources
In today’s edition of Daily Compliance News:
- Deutsche Bank monitorship extended. (WSJ)
- Judge wanted to know who at First Energy who paid bribes. (News-Herald)
- Secret deal between Google and FB. (NYT)
- Musk lawyer said $420 tweet truthful. (Bloomberg)
Compliance into the Weeds is the only weekly podcast which takes a deep dive into a compliance related topic, literally going into the weeds to more fully explore a subject. This week, Matt and Tom return to one of Matt’s favorite topics Elon Musk/Tesla. Some of the issues we consider:
· What happens when a business is lead by a runaway CEO?
· Implications of new SEC investigation.
· State of California investigation into racial discrimination.
· Where has the Board been all this time?
· Will the attitude of the SEC regarding enforcement change?
Resources
Matt in Radical Compliance
