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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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Report from IMPACT 2023

Report from IMPACT 2023: Nick Gallo on Generational Change in the Workplace and Importance of Culture

ECI’s IMPACT 2023 was one of the leading compliance events in 2023. At this conference, Tom Fox, the Voice of Compliance, was able to visit with several of the speakers, exhibitors, participants and one group of ethically minded Girl Scout Troop. In this limited podcast series, Report from IMPACT 2023, Tom explores many of the most cutting-edge topics in ethics and compliance through short podcast episodes. Check out the full series of interviews. You will be enlightened, informed and come away with a fuller and more thorough understanding of the most cutting-edge topics in ethics and compliance. In this episode, Tom visits with Nick Gallo, co-CEO at Ethico and Keynote speaker at Impact 2023. He and Tom talk about the themes from Nick’s Keynote.

Nick Gallo brings a wealth of experience from his background in private equity to the discussion of the changing landscape of work, ethics and culture. Gallo’s unique insights are shaped by his belief that traditional hierarchical structures in workplaces have been replaced with more flat and remote structures, presenting a significant opportunity for industry transformation. Drawing from his firsthand experience during his PE acquisitions and mergers career, he emphasizes the critical role of authentic culture in enhancing employee engagement and performance. Gallo also highlights the need for aligning personal values with the purpose of an organization, a concept he believes is lacking in today’s transactional economy. Join Tom Fox and Nick Gallo as they delve deeper into these insights on this episode of the Report from Impact podcast.

 Highlights Include 

·      The impact of culture in M&A

·      The role of ethics in the workplace

·      A new generation in the workforce

 Resources 

Nick Gallo on LinkedIn

Ethico

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Principled Podcast

Season 10 Episode 1 – How Does the US Department of Justice Evaluate Ethics and Compliance Programs?

What you’ll learn on this podcast episode

The US Department of Justice Criminal Division has been increasingly vocal about what makes organizations’ ethics and compliance programs effective. This input on program effectiveness takes the form of guidance to prosecutors about what questions to ask when companies negotiate to resolve DOJ investigations into corporate wrongdoing on favorable terms. What does this guidance on program effectiveness mean in practice for E&C professionals? In the season 10 premiere of LRN’s Principled Podcast, host Susan Divers speaks with John Michelich, who retired last November after 35 years as a federal prosecutor with the Department of Justice’s Criminal Division. Listen in as they explore how the DOJ evaluates E&C programs, as well as best practices for companies settling misconduct investigations. 

Guest: John Michelich

John Michelich – Grayscale

John Michelich is a retired career prosecutor, who has served at the state, federal, and international levels for 45 years. A native of Illinois, John received his undergraduate education at Illinois Wesleyan University and then attended Drake University Law School in Des Moines, Iowa. For 10 years, John served as Assistant State’s Attorney and First Assistant State’s Attorney in Springfield, Illinois, where he prosecuted all types of state criminal felony violations including armed robbery, aggravated sexual assault and capital murder.   

In 1988, John moved to Washington, DC where he began his 35-year career as a prosecutor with the US Department of Justice, Criminal Division. As a federal prosecutor, John has handled a wide variety of cases including child pornography and obscenity, narcotics distribution and all types of white-collar criminal cases. John served for 30 years as a prosecutor with the Fraud Section of the Criminal Division where he handled numerous cases including health care fraud, bank fraud, telemarketing fraud, commodities and securities fraud and violations of the Foreign Corrupt Practices Act. Because Washington DOJ lawyers are traveling prosecutors, John has handled grand jury proceedings or jury trials in more than two dozen federal districts nationwide from Guam and Hawaii to Puerto Rico, and California to New York. Over his long career, John has tried dozens of jury trials to verdict.  

In 1998, the Justice Department sent John on loan to the United Nations’ International Criminal Tribunal for the Former Yugoslavia, also known as the War Crimes Tribunal, in the Hague, Netherlands, where he handled investigations and Tribunal proceedings involving crimes against humanity and serious breaches of the Geneva Convention that occurred during the Yugoslavian civil war.   

For over 40 years, John has been an active instructor of Trial Advocacy and has appeared regularly on the faculty of the NITA Trial Practice course offered at Georgetown University Law Center. In addition, John has served as an Adjunct Professor at Georgetown, teaching Trial Practice courses to third-year law students. In his retirement, John is available as a legal consultant to trial lawyers to advise them in preparation for jury trials and to consult with corporate counsel concerning internal investigations and to advise them on how to approach the government when there are allegations of wrongdoing, especially foreign bribery. 

John is licensed to practice in the states of Illinois and Iowa, and several federal courts, and is a licensed Solicitor of the Senior Courts of England and Wales.   

Host: Susan Divers

Headshot_Susan_Divers_S7E18_Principled_Podcast

Susan Divers is a senior advisor with LRN Corporation. In that capacity, Ms. Divers brings her 30+ years’ accomplishments and experience in the ethics and compliance area to LRN partners and colleagues. This expertise includes building state-of-the-art compliance programs infused with values, designing user-friendly means of engaging and informing employees, fostering an embedded culture of compliance and substantial subject matter expertise in anti-corruption, export controls, sanctions, and other key areas of compliance.

Prior to joining LRN, Mrs. Divers served as AECOM’s Assistant General for Global Ethics & Compliance and Chief Ethics & Compliance Officer. Under her leadership, AECOM’s ethics and compliance program garnered six external awards in recognition of its effectiveness and Mrs. Divers’ thought leadership in the ethics field. In 2011, Mrs. Divers received the AECOM CEO Award of Excellence, which recognized her work in advancing the company’s ethics and compliance program.

Mrs. Divers’ background includes more than thirty years’ experience practicing law in these areas. Before joining AECOM, she worked at SAIC and Lockheed Martin in the international compliance area. Prior to that, she was a partner with the DC office of Sonnenschein, Nath & Rosenthal. She also spent four years in London and is qualified as a Solicitor to the High Court of England and Wales, practicing in the international arena with the law firms of Theodore Goddard & Co. and Herbert Smith & Co. She also served as an attorney in the Office of the Legal Advisor at the Department of State and was a member of the U.S. delegation to the UN working on the first anti-corruption multilateral treaty initiative.

Mrs. Divers is a member of the DC Bar and a graduate of Trinity College, Washington D.C. and of the National Law Center of George Washington University. In 2011, 2012, 2013 and 2014 Ethisphere Magazine listed her as one the “Attorneys Who Matter” in the ethics & compliance area. She is a member of the Advisory Boards of the Rutgers University Center for Ethical Behavior and served as a member of the Board of Directors for the Institute for Practical Training from 2005-2008.

She resides in Northern Virginia and is a frequent speaker, writer and commentator on ethics and compliance topics. Mrs. Divers’ most recent publication is “Balancing Best Practices and Reality in Compliance,” published by Compliance Week in February 2015. In her spare time, she mentors veteran and university students and enjoys outdoor activities.