Tag: FCPA

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Why a Duck

Coconuts and SEC Year End FCPA Enforcement Actions

From Vaudeville to the Silver Screen to the Small Screen, the Marx Brothers made an impact wherever people found them. Now Tom Fox and Mike Volkov have wedded their love of the Marx Brothers with their passion for compliance and bring them into the boardroom to help explain and explore the sometimes-chaotic world of governance, risk-management, ethics and compliance. In this episode they discuss the movie Coconuts and how it informs the three SEC fiscal year end FCPA enforcement actions.  Highlights from the podcast include:

  1. What can we learn from Quad/Graphics and sham 3rd parties?
  2. Beware of over expansion without appropriate FCPA controls.
  3. Why does control override inform the enforcement action involving Westport Fuels Systems?
  4. The M&A implications of Westport Fuels Systems?
  5. Why does the Barclays FCPA enforcement action get back to FCPA basics?
  6. How effective is your training program?

Resources
From Tom Fox

  1. Westport Fuels
  2. Barclays
  3. Quad/Graphics

From Mike Volkov

  1. Barclays
  2. Quad Graphics

Marx Brothers
Coconuts-the full movie on YouTube.

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This Week in FCPA

Episode 180 – the Hoskins is Guilty edition

The fallout from the Hoskins guilty verdict still resonates. Tom and Jay reflect upon it, what it means to play by the rules and then turn to some other of this week’s top compliance and ethics stories which caught their collective eyes.

  1. Hoskins found guility. Dylan Tokar reports in WSJ. Dick Cassin the FCPA Blog. Tom and Mike Volkov consider in the FCPA Compliance Report. How the verdict bolsters the DOJ, in GIR.
  2. Astros accused by ex-player of cheating in 2017 Championship season. David Schonenfield breaks down sign-stealing in com. Michael Rosenberg reports in Si.com. Buster Olney says the Astros cannot be trusted to investigation themselves, in ESPN.com. Tom weighs in on the FCPA Compliance and Ethics Blog.
  3. How do you balance perception based culture with fact based compliance? Anna Romberg in Navex Global’s Ethics & Compliance Matters blog.
  4. Twists and turns in the Cognizant case. Bill Wichert in Law360. (sub req’d)
  5. What can WeWork teach us about private company compliance. Erica Salmon Byrne in the FCPA Blog.
  6. A Guidebook to Corporate Governance, on Forum on Corporate Governance.
  7. Deutsche Bank whistleblower loses appeal. Jon Hill in Law360. (sub req’d)
  8. Why do you need oversight of merged companies? Jay explores in his continuing series on CCI.
  9. TRACE corruption ratings for 2019 are out. Matt Kelly reviews in Radical Compliance.
  10. Is FCPA enforcement inconsistent? Three lawyers from Bass, Berry say yes in CCI.
  11. Take a deep dive into SEC 2018/9 enforcement numbers. Cleary Gottlieb lawyers on NYU’sCompliance and Enforcement Blog.
  12. The Compliance Kitchen, a podcast hosted by Silvia Surman, premiers on the Compliance Podcast Network.

Tom Fox is the Compliance Evangelist and can be reached at tfox@tfoxlaw.com. Jay Rosen is Mr. Monitor and can be reached at jrosen@affiliatedmonitors.com. For more information on how an independent monitor can help improve your company’s ethics and compliance program, visit our sponsor Affiliated Monitors at www.affiliatedmonitors.com.

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FCPA Compliance Report

Episode 452, the Hoskins Jury Verdict

In this episode I visit with Mike Volkov about the Hoskins verdict, which was announced on Friday, November 8. In it Lawrence Hoskins was found guilty on six counts of violating the FCPA, three counts of money laundering, and two counts of conspiracy. Hoskins was acquitted on one money laundering count. We explore this case from the trial perspective. Some of the highlights include:

  • What was the significance of the verdict?
  • What evidence did the prosecutors have to put forward to prove agency?
  • How do prosecutors think through jury presentations?
  • Did the fact that Hoskins basic defense was that he was in charge of a criminal conspiracy and not an agent play poorly in front of the jury ?
  • What might all this mean for FCPA prosecutions going forward? How about internal investigations?
  • What does this case say about being the first to cooperate?
  • What signal does this case say about DOJ prosecution of individuals under the FCPA?
Categories
Daily Compliance News

October 30, 2019, the Hoskins Goes to Trial edition

In today’s edition of Daily Compliance News:

  • Hoskins goes to trial. (WSJ)
  • John Wood Group may be in deep trouble over use of Unaoil. (Sunday Post)
  • Boeing’s CEO knew about pilot’s warning before 2nd (NYT)
  • Did PG&E lines start the Sonoma Fire? (Washington Post)
Categories
Compliance Into the Weeds

Quad/Graphics FCPA Enforcement Action

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. Today we have a special live and in person podcast recording from Converge19. In this episode, Matt Kelly and I go into the weeds to explore the recent SEC enforcement action against Quad/Graphics and its Peruvian subsidiary. Matt comes in smoking on the egregious conduct of the company and the lack of criminal sanctions against the company.
Some of the highlights include:

  • How did the company garner credit for prompt disclosure when it knew about the conduct for 3 years?
  • Why have there been no criminal indictments against individuals?
  • How many sham vendors, invoices and payments does a company need to take notice?
  • Where was compliance?
  • Why is it the sham-ness of it all?

For additional reading see the following:
Matt’s blog post, Graphics Firm Draws $10 FCPA Settlement, on Radical Compliance.
Tom’s blog post, Quad/Graphics-the Sham-ness of it all, on the FCPA Compliance Report.

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This Week in FCPA

Episode 172 – the Tribute to Joe Mont edition

This episode begins on a somber note as Tom and Jay note the passing of Compliance Week reporter Joe Mont and what he meant to the greater compliance community. They then turn to discuss some of this week’s top compliance and ethics stories which caught their collective eyes.
1.    Tributes to Joe Mont.
2.    Mike Volkov takes a deep dive into the recent Business Roundtable Statement on the Purpose of a Corporation on Corruption Crime and Compliance.
3.    Former Cognizant Technologies COO, Sridhar Thiruvengadam, settles FCPA charges. Dick Cassin.
4.    Netherlands proposes nationwide AML system. John Rusch reports.
5.    What is an ethical culture and why does it matter? Jay begins a multipart series.
6.    What is algomerithic corporate misconduct. Milhailis Diamantis explores.
7.    Despite prevaling opinions, CCO is not a ‘god’. Clara Hudson reports on the Odebrecht CCO remarks at SCCE.
8.    Do UK DPAs throw individuals under the bus? Ross Dixon asks.
9.    Mary Shirely tells you how to ace job interviews.
10. Tom continues his preview of the Converge19 speakers in a special bonus series of podcasts on the Compliance Podcast Network. Check out the following: Monday-Scott McCleskey on mapping the ethical risk in your company;  Tuesday-Valerie Towery on cross functional collaboration; Wednesday-Kurt Stitcher on Operation Globalization; Thursday-Matt Kelly on Developing Effective Strategies for Third Parties & Data Security Risk and Friday– Anna Aster on The Future CECO: The Executive Recruiter’s Perspective. The podcast is available on multiple sites: the FCPA Compliance Report, iTunes, JDSupra, Megaphone,YouTube,  Spotifyand theCompliance Podcast Network.
11. The Everything Compliance gang will be doing its first live podcast at Converge19. You should be there! Listeners to this podcast can obtain a complimentary ticket by using the promotion code foxvip, for registration and information, click here.
Tom Fox is the Compliance Evangelist and can be reached at tfox@tfoxlaw.com. Jay Rosen is Mr. Monitor and can be reached at jrosen@affiliatedmonitors.com.
For more information on how an independent monitor can help improve your company’s ethics and compliance program, visit our sponsor Affiliated Monitors at www.affiliatedmonitors.com.
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This Week in FCPA

Episode 171 – the Jay Clayton Speaks (or not) edition

As SEC Chair Jay Clayton scolds the rest of the world for its lack of anti-corruption enforcement and does say why he wants to dump a PCAOB Member, Tom and Jay are back  to discuss some of this week’s top compliance and ethics stories which caught their collective eyes.

  1. SEC Chair scolds weak overseas anti-corruption enforcement. Dave Micheal reports in the WSJ Risk and Compliance Journal.
  2. Why does SEC Chairman want to get rid of PCAOB member, Kathleen Hamm? Francine McKenna explores in MarketWatch.
  3. Fair Pay to Play? California pass law allowing college athletes to be compensated. Michael McCann reports in com.
  4. Did the SFO put in a ‘self-certification’ requirement in its recent Guidance on Cooperation? Aziz Rahman says yes in the FCPA Blog.
  5. How can independent integrity monitors help to limit adverse consequences in health care? Jay concludes his series on monitors in the health care industry in CCI.
  6. NYU PCCE gets new Executive Director as Alycin Cooley joins the group. NYU Compliance and Enforcement Blog.
  7. How can you process personal employee data under GDPR? Laura Wright, Sarah Greenwood and Andrew Reeves opine in the FCPA Blog.
  8. What happens when employees ethical values are greater than those shown by their employer? Michael Toebee explores in an interesting post on CCI.
  9. One commentator suggests we hold back on international enforcement against bribe-takers. Anton Moiseeineko writes in theFCPA Blog.
  10. Tom continues his preview of the Converge19 speakers in a special bonus series of podcasts on the Compliance Podcast Network. Check out the following: Monday-Ricardo Pellafone and Ashley Lewis on Building Your Brand; Tuesday-Michael Williamson on moving to a values based culture; Wednesday-Mike Volkov on the Nuts and Bolts of Sanctions Compliance; Thursday-Nicole Pitts on Increasing Employee Engagement and Friday- Eric Feldman on the CCO’s role in performance management. The podcast is available on multiple sites: the FCPA Compliance Report, iTunes, JDSupra, Megaphone,YouTube,  Spotifyand theCompliance Podcast Network.
  11. The Everything Compliance gang will be doing its first live podcast at Converge19. You should be there! Listeners to this podcast can obtain a complimentary ticket by using the promotion code foxvip, for registration and information, click here.

Tom Fox is the Compliance Evangelist and can be reached at tfox@tfoxlaw.com. Jay Rosen is Mr. Monitor and can be reached at jrosen@affiliatedmonitors.com. For more information on how an independent monitor can help improve your company’s ethics and compliance program, visit our sponsor Affiliated Monitors at www.affiliatedmonitors.com.

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FCPA Compliance Report

James Koukios on the Morrison and Foerster Top 10 International Anti-Corruption Developments for April 2019

In this episode I visit with podcast favorite Morrison and Foerster partner James Koukios on the firm’s Top 10 International Anti-Corruption Developments for April 2019. We look at some of the key international developments.  Highlights from the podcast include:

  1. The debate Over Meaning of “Agent” Under FCPA Intensifies Ahead of Hoskins Trial.
  2. Federal Court Finds FCPA Investigation Documents Protected by Attorney-Client Privilege.
  3. International Maritime Organization (IMO) Sets Anti-Corruption Agenda.
  4. We take a deep dive into the new Evaluation of Corporate Compliance Programs, 2019 Guidance. What is new (if anything)? How does this assist the corporate compliance professional? Should it be read in conjunction with the Benczkowski Memo?

To see a copy of the Morrison and Foerster Top 10 International Anti-Corruption Developments for April 2019, click here.

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This Week in FCPA

This Week in FCPA-Episode 165– the Greinke to the Astros edition

The Astros hit a home run on the last minute of the trading deadline by obtaining Zack Greinke and Jay asks just how insufferable Tom will be until the Astros win the World Series again (Hint: Very). While Tom gloats, he and Jay turn their collective eyes to some of this week’s top compliance and ethics stories.
  1. Third parties are still the highest FCPA risk. So why are you still using them? Alexandra Gillies explores.
  2. How to manage high-risk distributors? Mike Volkov with a 2 part series.
  3. What is conspicuous integrity in the corporate setting? Shirin Ahlhauser explains.
  4. What is cognitive governance? James Bone begins a 5-part series.
  5. What is present responsibility and how does it related to debarment? Jay explains.
  6. What are the disclosure and notification requirements when managing a crisis? Lawyers from Cleary Gottlieb explain.
  7. Wonder if ethics and compliance still matter? Four Wachtel Lippon lawyers explain.
  8. Why do you need social media compliance as part of your ethics and compliance program. John Horowitz tells us in Navex Global’s Ethics and Compliance Matter
  9. Why the identification of high risk employees is critical. Jeff Kaplan explains.
  10. Comings and goings in the DOJ Fraud Section. Dylan Tokar reports.
  11. Our colleague Doug Cornelis participates in the annual 2-day, 192 mile Pan-Mass Bike Challenge which raises money for the fight against cancer. I hope you will join my again in supporting Doug by donating to PMC. Information on Doug’s ride, why he rides and donation button are all found here.
Tom Fox is the Compliance Evangelist and can be reached at tfox@tfoxlaw.com. Jay Rosen is Mr. Monitor and can be reached at jrosen@affiliatedmonitors.com.
For more information on how an independent monitor can help improve your company’s ethics and compliance program, visit our sponsor Affiliated Monitors at www.affiliatedmonitors.com.
Categories
FCPA Compliance Report

FCPA Compliance Report-Episode 439, James Koukios on the Morrison and Foerster Top 10 International Anti-Corruption Developments for March 2019

In this episode I visit with podcast favorite Morrison and Foerster partner James Koukios on the firm’s Top 10 International Anti-Corruption Developments for March 2019. We look at some of the key international developments.  Highlights from the podcast include:

  1. The MTS FCPA Settlement.
  2. Changes in FCPA Corporate Enforcement Policy-what is ‘De-Confliction’ and ephemeral messaging.
  3. OECD Working Group on Bribery Reports on the UK’s Foreign Bribery Enforcement Record.
  4. CFTC announces entry into FCPA enforcement.
  5. India appoints first anticorruption ombudsman.

To see a copy of the Morrison and Foerster Top 10 International Anti-Corruption Developments for March 2019, click here.