Tag: EU

Daily Compliance News: June 25, 2024 – The Assange Freed Edition

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Post date June 25, 2024
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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:

Julian Assange pleads guilty and is freed. (NYT)
Microsoft sued the EU for anti-trust violations. (WSJ)
The former EIB president is under investigation for corruption. (FT)
Delaware to allow big investors greater sway over corporations. (Reuters)

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

Tags EIB, EU, Julian Assange, Microsoft

2 Gurus Talk Compliance

2 Gurus Talk Compliance: Episode 30 — Make a Plan

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Post date June 7, 2024
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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, Kristy and Tom discuss various pressing issues and developments in compliance. Topics include the introduction of a new regulator in Europe, concerns of AI employees about retaliation for raising alarms on potential threats, California’s new workplace violence compliance requirements, and unusual attempts to use live animals as payment in Florida.

The episode also highlights the significance of the Women in Compliance conference, the importance of crisis communication strategies, and the recent extension of the sanctions statute of limitations by the U.S. government. The conversation also covers networking for job seekers and the implications of the newly formed European Financial Crime Agency. The episode concludes with a bizarre payment method by our good friend, Florida Man.

Highlights Include:

Make a plan. (NYU Compliance and Enforcement Blog)
When your employer sells you out, the Citgo 6 sues CITGO. (Houston Chronicle)
Self Disclose, Self-Disclose, Self-Disclose. (Radical Compliance)
The EU has a new financial crime agency. (WSJ)
Bringing trust to your internal reporting. (LinkedIn)
AI Employees Fear They Aren’t Free to Voice Their Concerns (WSJ)
Congress Extends Sanctions Statute of Limitations And Addresses Other National Security Issues (Corruption, Crime and Compliance)
SB 553: How to Navigate the New Workplace Violence Prevention Law (Global Guardian)
Landing a Job Is All About Who You Know (Again) (WSJ)
Florida Man Charged with Attempting to Exchange Live Alligator for Beer (FloridaHasARightToKnow.com)

Resources:

Kristy Grant-Hart on LinkedIn

Tom

Tags AI, AMLA, Citgo 6, crisis communications, EU, Florida Man, Kristy Grant-Hart, trust, workplace violence

Daily Compliance News

Daily Compliance News: June 4, 2024 – The AMLA Edition

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Post date June 4, 2024
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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:

EU gets a new financial crime agency. (WSJ)
Consulting firms in the cross-hairs. (FT)
Top Japanese automakers mishandled vehicle testing. (NYT)
Ericsson clears monitorship and concludes DPA. (Morning Star)

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

Tags AMLA, automakers, consulting firms, Ericsson, EU

10 For 10

10 For 10: Top Compliance Stories For The Week Ending May 18, 2024

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Post date May 18, 2024
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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.

The SFO is reviewing LIBOR prosecutions. (FT)
Opening statement in the Senator Menendez trial. (Bloomberg)
The DOJ says Boeing violated its DPA. (Reuters)
PCAOB adopts tighter rules on auditor quality. (WSJ)
Did DOJ steal Unaoil prosecution from SFO? (Economist)
The FDIC head goes to Congress. It’s not pretty. (NYT)
Bill Hwang lied. (This is my shocked face.) (FT)
Investment advisors must vet customers. (WSJ)
Meta faces an EU probe over child abuse protections. (WSJ)
FIFA rolls back ABC reforms. (NYT)

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

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

Connect with Tom

Tags Bill Hwang, Boeing, DOJ, EU, FDIC, FIFA, Meta, Senator Robert Menendez, SFO

Compliance and AI

Compliance and AI: Karen Moore on The American Privacy Rights Act and AI

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Post date May 16, 2024
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What is the role of Artificial Intelligence in compliance? What about Machine Learning? Are you using ChatGPT? These are but three of the many questions we will explore in this exciting new podcast series, Compliance and AI. Hosted by Tom Fox, the award-winning Voice of Compliance, this podcast, Karen Moore joins me to discuss the proposed American Privacy Rights Act (APRA) and its intersection with artificial intelligence.

Moore has expressed cautious optimism towards the act, paying particular attention to how the Act impacts artificial intelligence and automated decision-making processes. Drawing on the act’s provisions, Moore emphasizes the importance of the preemption clause, which indicates a shift towards federal regulations superseding state laws. She also underscores the potential challenges and complexities that lie ahead for companies, especially large data holders or high-impact social media companies, in adhering to the APRA’s requirements, such as conducting design evaluations, transparency obligations, and data minimization. This perspective is shaped by her extensive background in the field and her intricate understanding of the Act’s impact on data processing and AI algorithms.

Key Highlights:

Introduction to the American Privacy Rights Act Discussion
Exploring the Preemption Clause and AI Implications
Automated Decision-Making and Its Complexities
The Impact on High-Impact Social Media and Large Data Holders
Data Minimization Requirements and AI Challenges

Resources:

Karen Moore on LinkedIn

Tom Fox

Tags AI, American Privacy Rights Act, APRA, compliance, EU, GDPR, Karen Moore

All Things Investigations

All Things Investigations: Jan Dunin-Wasowicz and Jeff Nielsen on Export Control and Economic Sanctions: Current Issues and Practice

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Post date May 13, 2024
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Welcome to the Hughes Hubbard Anti-Corruption & Internal Investigations Practice Group’s podcast, All Things Investigation.

In this podcast, Tom Fox is joined by Jan Dunin-Wasowicz and Jeff Nielson, International Sanctions & Export Controls Lawyers at Rambol, for a deep dive into current issues in export control and economic sanctions.

Jeff Nielsen, an American lawyer with expertise in US and European Union sanctions, currently works at a prominent Danish engineering firm, having transitioned from practicing law in the US to navigating the complexities of international sanctions. Jan Dunin‑Wasowicz, a partner at Hughes Hubbard & Reed, is a leading figure in trade sanctions, operating globally out of the Paris office.

Nielsen’s perspective on trade sanctions is shaped by his direct experience with US and European Union regulations, viewing the field as dynamic, challenging, and necessitating an understanding of both legal frameworks and international relations. Similarly, Dunin-Wasowicz emphasizes the industry’s complexity, dynamism, and the importance of staying informed about global affairs to anticipate risks. His work underscores the increasing role of the private sector in dealing with sanctions, highlighting the need for a proactive and adaptable approach to risk assessment in this evolving field.

Key Highlights:

Private Sector Role in Evolving Trade Sanctions
Dynamic Compliance Strategies in Trade Regulations
Sanctions Enforcement Disparity: EU vs US
Global Landscape Risk Assessment in Trade Compliance

Resources:

Hughes Hubbard & Reed website

Jeff Nielsen on LinkedIn

HHR client alert on The Dawn of a New Era for EU Sanctions Enforcement? EU Adopts Directive on the Definition of Criminal Offences and Penalties for the Violation of EU Sanctions

Tags EU, Export Controls, HHR, Jan Dunin-Wasowicz, Jeff Nielsen, trade sanctions

2 Gurus Talk Compliance

2 Gurus Talk Compliance: Episode 27 – The Too Nice Edition

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Post date April 26, 2024
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In this episode, we discuss how far the US should push Europe when it comes to banning goods produced with forced labor, whether Canadians are just too darn nice when it comes to bribery, the Supreme Court’s review of when cash given to a US politician crosses from a thank-you gift to a bribe, and a Florida man’s notice to arresting officers that he’d be drinking his beer before being arrested because it’s cold.

The issue of forced labor, particularly in China, and its resultant goods has triggered a significant discourse between the US and Europe, highlighting the intricate connection between international trade and human rights. Tom argues for Europe to adopt stringent measures against forced labor like the US and credits his stand to his profound understanding of the extensive impact such a practice has on modern society. He advocates for a broad ban on goods linked to forced labor and is enthusiastic about the potential of a joint EU, US, and UK task force addressing the issue.

Kristy, with her focused view on the contrasting approaches of the US and Europe, agrees with the necessity of a robust response. She acknowledges the US’s advanced position in tackling forced labor challenges, appreciates the EU’s efforts to enact a similar ban, and supports the idea of a joint task force. She underlines the importance of preventing goods made from forced labor from entering the US via Europe.

Highlights Include:

The fight against climate change reporting. (Harvard Law School Forum on Corporate Governance)
Are Canadians too nice to fight ABC? (GAB)
What is the opposite of right for compliance? (COI Blog)
Between a rock and a hard place. (China Law Blog)
Are you shadow trading? (NYU Corporate and Enforcement Blog)
Europe Should Be Pushed to Take On Chinese Forced Labor, U.S. Lawmakers Say (WSJ)
Corruption or Just Politics? Supreme Court Weighs New Bribery Case as More Clashes Are Brewing (WSJ)
The Department of Justice Unveils Groundbreaking Pilot Program: Incentivizing Whistleblowers with Immunity (JDSUPRA)
From Gen Z to boomers: How to give critical feedback at work (Washington Post)
Florida man pops open beer during police encounter because it was ‘cold’ and he wanted to drink it (FOX 35 Orlando)

Resources:

Kristy Grant-Hart on LinkedIn

Tom

Tags CFPOA, China, DOJ, EU, Florida Man, Forced Labor, SEC Climate Reporting Rules, Supreme Court

Daily Compliance News

Daily Compliance News: April 17, 2024 – The Oreos in Trouble Edition

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Post date April 17, 2024
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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:

EU to fine the Oreo maker. (FT)
The Chief AI Officer. (FT)
US avers it won’t seek the death penalty in Assange extradition. (Reuters)
Will SCT make all bribes legal? (NYT)

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

Tags AI, corruption, EU, Julian Assange, Oreos, US Supreme Court

Daily Compliance News

Daily Compliance News: March 5, 2024 – The World’s Most Ethical Edition

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Post date March 5, 2024
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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:

Ethisphere announces the World’s Most Ethical Company Awards. (Press Release)
A former Venezuelan officer pleads guilty to $1.7 fraud and corruption. (Local10)
Apple was fined €1.8bn in the EU. (FT)
Former Twitter execs sued for severance packages. (WSJ)

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

Tags Apple, corruption, Elon Musk, Ethisphere, EU, fraud, twitter, WME, World's Most Ethical Companies

2 Gurus Talk Compliance

2 Gurus Talk Compliance – Episode 23 — The Sustainability Edition

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Post date February 23, 2024
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In the ever-evolving world of regulatory compliance and risk management, challenges are constant, and strategies must be dynamic. Tom highlights the focus on the Tesla Board, celebrates the OECD at 25, bemoans New Zealand’s drop in the TI-CPI, reviews the HP acquisition of Autonomy and looks at the differences in Binance and FTX enforcement. Kristy highlights the slave labor allegations, EU sustainability law, the ease of whistleblower restrictions, the EU and AI, and checks in on Florida Woman. Join Tom Fox and Kristy Grant-Hart as they delve deeper into these issues in this episode of the 2 Gurus Talk Compliance podcast.