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SBR - Authors' Podcast

SBR – Author’s Podcast: Alison Taylor on Higher Ground

Welcome to the Sunday Book Review and the Authors Podcast! Don’t miss out on this episode of SBR-Author’s Podcast, where Tom sits down with well-known compliance maven Alison Taylor on her new book, Higher Ground.

Alison Taylor is an established professional with a wide-ranging background in editing, consulting, political risk, and corporate investigation. Her career has seen her dedicate twelve years to corporate investigation, where she honed her skills in FCPA, due diligence, and network analysis, even leading investigations across multiple continents.

After 2015, Taylor redirected her career towards sustainability and ESG, advising on climate change, human rights, and corporate responsibility for major multinational companies.

Alison’s diverse and extensive professional journey, including her current role as a faculty member at NYU and director of Ethical Systems, a think tank, coupled with her authorship of “Higher Ground,” has shaped her perspective on the interplay of compliance, ethics, sustainability, and corporate responsibility.

These experiences have enabled her to provide valuable clarity and insights for senior leaders navigating the complex landscape of business ethics.

Key highlights include:

  • Navigating Business Ethics in Sustainability Practices
  • Navigating the Emotional Roller Coaster of Writing
  • Leadership Alignment with Stated Ethical Values
  • Ethical Decision Making for Business Sustainability
  • Ethical Innovations in Compliance and Ethics

 Resources:

Alison Taylor on Linkedin

Higher Ground on Amazon.com

 Tom Fox

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Adventures in Compliance

The Return of Sherlock Holmes: Ethical Lessons from The Adventure of Charles Augustus Milverton

Welcome to a review of all the Sherlock Holmes stories that are collected in the work “The Return of Sherlock Holmes.“. It is a collection of thirteen detective stories written by Sir Arthur Conan Doyle, marking the reappearance of the brilliant detective Sherlock Holmes after his apparent death in “The Final Problem.” The collection spans various intriguing cases and mysteries that Holmes and his loyal friend Dr. John Watson tackle.

Today we consider some ethical lessons from The Adventure of Charles Augustus Milverton.

Sherlock Holmes, the iconic character created by Arthur Conan Doyle, is not only a detective par excellence but also a complex character entangled in ethical dilemmas. These moral conundrums, as depicted in the 8th story of the Return of Sherlock Holmes series, offer valuable lessons on justice, professional integrity, and privacy rights through the interactions of Holmes, Watson, and the king of blackmailers, Charles Augustus Milverton.

The story emphasizes the importance of these topics. Inspired by Holmes’ strict adherence to confidentiality, moral code, and his considerations of ethical implications, Fox underlines the detective’s willingness to bend the law to uphold justice. Fox sees in Sherlock Holmes a role model for compliance professionals to navigate complex ethical challenges while staying true to principles of justice and truth.

 

Key Ethical Lessons:

  • Respect for Privacy: This story highlights the importance of respecting individuals’ privacy rights.
  • Confidentiality: Holmes maintains strict confidentiality regarding his clients and the information they share with him.
  • The Right to Justice: While Holmes and Watson are not averse to bending the law in pursuit of justice, they ultimately work to bring Milverton to justice through legal means. They recognize that everyone, regardless of their actions or character, is entitled to a fair trial and due process.
  • Ethical Dilemmas: The story presents ethical dilemmas concerning the balance between the greater good and individual rights.
  • Professional Integrity: Despite the morally ambiguous nature of some of his methods, Holmes maintains professional integrity in his work.
  • Consequences of Actions: The story underscores the importance of considering the ethical implications and potential consequences of one’s actions.

Resources:

The New Annotated Sherlock Holmes

Sherlock Holmes FAQ

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10 For 10

10 For 10: Top Compliance Stories For The Week Ending November 18, 2023

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 compliance professionals, 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.

  • Corruption in lithium mining in Africa.   (Inside Climate News)
  • The State of Texas moves to anti-business.  (Bloomberg)
  • The legal baggage at Fox News awaiting Lachlan. (FT)
  • 2 sexual harassment claims per week at McDonalds UK (TT)
  • Can Barclay’s move beyond scandal (and Jes Staley)? (FT)
  • Chinese corruption in Nepal? (NYT)
  • FDIC hires a law firm to investigate allegations of a toxic workplace. (FT)
  • The law firm said it didn’t know the partner was living with Judge. (Reuters)
  • Matt Kelly declares Supreme Court Code of Ethics is broken (already).  (Radical Compliance)
  • Safe for businesses to return to China? (NYT)

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

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Adventures in Compliance

The Memoirs of Sherlock Holmes – The Adventure of the Musgrave Ritual

Welcome to a review of all the Sherlock Holmes stories that are collected in the work “The Memoirs of Sherlock Holmes.” They appeared in Strand Magazine from December 1892 to December 1893. Over the next 12 episodes, I will be reviewing each story and mining them for leadership, compliance, and ethical lessons. In this, we look at the story of the Adventure of the Musgrave Ritual. 

The intriguing world of Sherlock Holmes, penned by Arthur Conan Doyle, is not only a realm of thrilling detective stories but also a treasure trove of lessons in business ethics and compliance. Tom Fox, the Compliance Evangelist, draws fascinating parallels between the detective’s methods and the principles of ethical business conduct. In this podcast, he focuses on the story The Musgrave Ritual, highlighting the importance of confidentiality, ethical behavior, conflict resolution, succession planning, attention to detail, respect for rules and procedures, and transparency. Fox’s perspective is shaped by his extensive experience in the field of compliance, leading him to see the potential for practical application of these fictional narratives in real-world business scenarios. Join Tom Fox in this episode of the Adventures in Compliance podcast as he delves deeper into the lessons Sherlock Holmes can teach us about business ethics and compliance.

Key Highlights:

  • The Significance of the Musgrave Ritual
  • The Story
  • Compliance Implications
  • Conclusion

Resources:

The New Annotated Sherlock Holmes

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FCPA Compliance Report

FCPA Compliance Report: Marco Goldberg – Creating Trust with Comprehensive Solutions

Welcome to the award-winning FCPA Compliance Report, the longest-running podcast in compliance. In this episode, Tom Fox welcomes Marco Goldberg, Managing Director of EQS Group’s North American Business, which assists organizations in navigating the complex world of compliance and building a culture of trust.

Marco Goldberg is a seasoned professional in corporate compliance and investor relations solutions, with a rich background in international industrial management and an MBA from the Berlin School of Business and Entrepreneurship. The EQS Group is a leading provider of corporate compliance and investor relations solutions, serving about 9,000 customers globally. He emphasizes the importance of trust in international organizations and sees EQS Group’s mission as helping to create trusted companies through their solutions. His experiences in the industry and his active participation in hosting the ECEC, Europe’s largest compliance conference, have shaped his perspective. Join Tom Fox and Marco Goldberg on this episode of the FCPA Compliance Report podcast to learn more about his insights and experiences.

 Key Highlights:

  • Creating Trusted Companies with Comprehensive Solutions
  • IntegrityLine: Empowering Employees for Compliance
  • EU Whistleblower Protection Directive: Creating a Culture of Integrity
  • Centralizing Compliance Workflows with AI Technology
  • The Transformative Power of AI in Compliance

 Resources:

Marco Goldberg on LinkedIn

EQS Group

 Tom Fox

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Blog

The Importance of Trust, Accountability, and Ethics in the Workplace

Trust, accountability, and ethics are fundamental pillars of a healthy and successful workplace. They form the foundation upon which organizations build strong relationships with their employees, customers, and stakeholders. In the most recent episode of the podcast “Compliance into the Weeds,” Tom Fox and Matt Kelly discussed the importance of these factors in light of a wrongful termination lawsuit filed against Citibank by a former employee.

The importance of trust, accountability, and ethics in the workplace cannot be overstated. These elements are the bedrock of a healthy corporate culture and are crucial for maintaining a positive and productive work environment. I believe that a broader conversation about these topics is necessary within corporations, with a need for employees to understand the importance of trust, accountability, and adherence to policies and procedures. While there is great cynicism that exists among the public and the workforce regarding ethical enforcement particularly when banks which have paid literally billions of dollars in fines are involved, it is up to each employee to commit to doing the right thing, even when it is difficult.

As Matt noted in a Radical Compliance blog post, “Our tale, first reported by the Financial Times, involves one Szabolcs Fekete, who had been an analyst with Citibank’s London offices since 2015. In July 2022 Fekete had to take a three-day business trip to Amsterdam. He took along his romantic partner for the trip, and while there he billed a coffee and sandwich for his partner to his corporate expense account. Except, Fekete tried to cover it up by submitting a receipt for two sandwiches and two coffees, all for him.” He was subsequently fired for dishonesty on an expense report and lying to his supervisor and investigators when questioned about his submitted expenses. While the amount in question may seem trivial, (less than €100) the case highlights the potential consequences of dishonesty, even in seemingly minor matters.

One of the key takeaways from this case is the significance of trust in the workplace. Trust is the cornerstone of any successful organization. It is the belief that individuals can rely on each other to act with integrity, honesty, and transparency. When trust is compromised, it can have far-reaching implications for the overall culture and effectiveness of the organization.

The case also underscores the importance of accountability. Accountability means taking responsibility for one’s actions and being answerable for the outcomes. In this case, Fekete’s dishonesty led to a breach of trust, and he was held accountable for his actions. Organizations must have clear corporate values, policies, and training programs in place to prevent unethical behavior and promote accountability among employees.

Ethics, too, play a crucial role in the workplace. Ethics refers to the moral principles that guide individuals’ behavior and decision-making. It is about doing the right thing, even when it may be difficult or inconvenient. The case of Fekete highlights the need for employees to have a genuine commitment to ethical conduct, even in situations where it may be tempting to cut corners or bend the rules.

Balancing these factors can be challenging. On one hand, organizations must establish a culture of trust and accountability, where employees feel empowered to act ethically and take responsibility for their actions. On the other hand, organizations must also have systems in place to detect and address unethical behavior, ensuring that trust is not misplaced.

The episode also raises the question of the impact of these factors on decision-making. When faced with ethical dilemmas, individuals and organizations must consider the potential consequences of their actions. One thing we have learned from Enron going forward, if someone is willing to break ethical rules at a minor level, it raises concerns about their integrity and the potential for more significant breaches in the future.

Yet there is another, more troubling aspect to this matter that compliance and ethics professionals must consider. Pilita Clark, also writing in the FT noted, “Except the response to this story has been anything but straightforward. Most striking of all is the level of derision directed not at Fekete but at Citi. At the time of writing, more than 500 people had digitally applauded one FT reader who wrote in response to the story: “You can’t lie in a bank, unless it’s a really big lie.”

Clearly folks are still not happy that large financial institutions paid billions in fines without seemingly missing a beat. Clark went on to write, “Some of the largest costs related to the 2007-2008 financial crisis, but big sums arose in more recent years, including $402mn in 2018 to settle the bank’s role in a conspiracy to manipulate foreign exchange markets. Citi was among 20 large banks that collectively paid more than £377bn in such costs between 2008 and 2018, as a result of mis-selling, money-laundering, market abuse and other” misdemeanors.

In conclusion, the importance of trust, accountability, and ethics in the workplace cannot be overstated. These factors form the bedrock of a healthy and ethical organizational culture. The case discussed in the podcast episode serves as a reminder of the potential consequences of dishonesty and the need for clear corporate values, policies, and training programs. It also emphasizes the importance of individual responsibility in maintaining an ethical workplace. By prioritizing trust, accountability, and ethics, organizations can create an environment where employees feel empowered to act with integrity and make ethical decisions, ultimately leading to long-term success.

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Compliance Into the Weeds

Compliance into the Weeds: Szabolcs Fekete and the Consequences of Ethical Breaches

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 thoroughly, looking for some hard-hitting insights on sanctions compliance. Look no further than Compliance into the Weeds! In this episode, Tom and Matt deeply dive into the termination of Citibank employee Szabolcs Fekete over cheating on his expense account, then lying about it and drawing out broad lessons for the compliance professional.

The importance of trust, accountability, and ethics in the workplace cannot be overstated. These elements are the bedrock of a healthy corporate culture and are crucial for maintaining a positive and productive work environment. Tom believes that a broader conversation about these topics is necessary within corporations. He emphasizes the need for employees to understand the importance of trust, accountability, and adherence to policies and procedures.

Matt echoes these sentiments. He shares a poignant story about a CEO who had to fire a cleaner for embezzlement and dishonesty, underlining the critical role of trust in upholding ethical standards. Both Fox and Kelly acknowledge the cynicism among the public and the workforce regarding ethical enforcement, and they advocate for a commitment to doing the right thing, even when it is difficult. Join Tom Fox and Matt Kelly on this episode of the Compliance into the Weeds podcast as they delve deeper into this crucial topic.

 Key Highlights:

  • Expense Report Dishonesty and Wrongful Termination
  • Citibank’s Expense Report Policy and Trust
  • The Consequences of Ethical Breaches
  • The importance of trust and ethical enforcement

 Resources

Matt in Radical Compliance

Jane Croft in the FT

Pilita Clark in the FT

Tom 

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SBR - Authors' Podcast

SBR Authors Podcast: Adam Balfour on Ethics and Compliance for Humans

Welcome to the Sunday Book Review, the Authors Podcast! Don’t miss out on this episode of SBR-Author’s Podcast, where Tom sits down with Adam Balfour on his book Ethics & Compliance for Humans.

Adam Balfour, a Scottish-born compliance professional, has been leading the compliance program for the Americas region at Bridgestone. Balfour strongly believes in the importance of ethics, compliance, and leadership within organizations, arguing that these elements can significantly contribute to financial success. He likens the role of ethics and compliance professionals to soccer midfielders, who defend and support the team’s growth. Balfour’s perspective is shaped by his experiences and passion for ethics and compliance, leading him to write a book titled “Ethics & Compliance for Humans,” providing valuable resources for compliance professionals. Join Tom Fox and Adam Balfour on this episode of the SBR-Author’s Podcast as they delve deeper into these topics.

Key highlights include:

  • The Duality of Human Nature
  • The Importance of Guiding Employees Ethically
  • Humanizing Compliance Programs: Building Ethical Relationships
  • Engaging Compliance Training through Pop Culture
  • Navigating Ethical Dilemmas in the Workplace
  • The Role of a Unifying Purpose Leader

Resources:

Adam Balfour on Linkedin

Ethics & Compliance for Humans

Tom Fox

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Popcorn and Compliance

Popcorn and Compliance: Monster Movie Month – The Raven – Power, Manipulation, and Ethics in Leadership

Tom Fox is back with his Classic Monster Movie Month, where he reviews a Classic Monster Movie from Universal Pictures from its Classic Monster Movie era of 1931 to 1947. This year, I want to look at some of the lesser-known movies and mine them for leadership and ethical lessons. We continue our journey of Edgar Allen Poe-themed movies with the 1934 Bela Lugosi and Boris Karloff class The Raven.

Classic monster movies have long captivated audiences with thrilling plots, iconic characters, and spine-chilling moments. However, beyond the scares and special effects, these films often contain deeper themes that explore ethical implications and leadership. In this episode of “Popcorn and Compliance,” Tom Fox focuses on the Universal Pictures classic monster movie “The Black Cat” and the valuable insights it provides into ethical decision-making and leadership.

“The Raven” is a film that delves into the dark side of power and manipulation, particularly in positions of authority. The main character, Dr. Richard Vollen, uses his influence to manipulate others into committing unethical acts, demonstrating the corrupting influence of power. The film is a cautionary tale emphasizing the importance of ethical conduct, empathy, and compassion in leadership. It also highlights the value of effective team dynamics in achieving common goals and fostering a positive work environment, including collaboration, open communication, and mutual respect.

One of the key factors explored in “The Raven” is the consequences of obsession. Dr. Vollen’s obsession with a particular surgical technique and his infatuation with Jean Thatcher lead to dire consequences. This highlights the need for leaders to be mindful of the potential destructive effects of their work and personal obsessions and ensure a broader ethical framework guides their actions.

Accountability is another important aspect of leadership that is highlighted in the film. There needs to be more accountability for Dr. Vollen’s actions until it’s too late. Effective leadership includes being accountable for one’s decisions and actions, and leaders should be responsible for the consequences of their choices.

Empathy and compassion are also explored in “The Raven.” Leaders who demonstrate empathy and compassion for others tend to foster healthier, more positive environments and relationships. This highlights the importance of considering the impact on others when making decisions about power, manipulation, and ethics in leadership.

Ethics in the pursuit of excellence is another theme in the film. Dr. Vollen’s pursuit of surgical excellence is admirable but becomes ethically problematic when it leads to harm. Leaders should uphold ethical standards even when striving for excellence in their fields.

While not a central theme in the film, the interactions among the characters demonstrate the importance of effective team dynamics. In any leadership setting, leaders should promote collaboration, open communication, and mutual respect within their teams.

It’s important to note that “The Raven” is a horror film, and the ethical and leadership examples presented are largely negative and cautionary. However, they remind leaders of challenges, such as the temptation of power, the consequences of obsession, and the continuing need for ethical decision-making, even in dire direst consequences.

In conclusion, “The Raven” provides a thought-provoking analysis of power, manipulation, and ethics in leadership. It highlights the importance of ethical conduct, empathy, and compassion in positions of authority. The film serves as a cautionary tale, reminding leaders of the tradeoffs in balancing different factors and the challenges associated with different approaches. By considering the impact on others and upholding ethical standards, leaders can navigate the complexities of power and manipulation while fostering a positive and ethical work environment.

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The Ethics Experts

Episode 162 – Sam Silverstein

In this episode of The Ethics Experts, Nick welcomes Sam Silverstein. Sam Silverstein, a Hall of Fame keynote speaker, accountability expert, and the author of 12 books on accountability, leadership, and workplace culture, including the highly acclaimed “No More Excuses!” and “Non-Negotiable.” As the founder of The Accountability Institute, LLC, and a seasoned speaker who has worked with some of the biggest names in business, government, and communities worldwide, Sam has the expertise and experience to help your team overcome its most significant challenges and achieve tremendous success.

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