Tag: Karen Woody

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This Week in FCPA

Episode 269 – the Focus on the SEC edition


Jay is once again traveling this week so we are joined by Professor Karen Woody as special guest co-host. I know you will enjoy her comments on this special Focus on the SEC edition.

Stories

1.     Coinbase v. the SEC. Andrew Ross Sorkin previews in NYT Dealbook. Francine McKenna takes a deep dive in The Dig (sub req’d) Gary Gensler testifies before Congress, Paul Keiran in the WSJ.
2.     Why compliance should lead ESG. Kyle Brasseur  in Compliance Week (sub req’d)
3.     Another cheating scandal at KPMG. Matt Kelly on Radical Compliance. Leadership
4.     Leadership lessons from the fall of Kabul. Sandra Erez in CCI.
5.     What are the Big 3 issues from this year’s proxy season? Eric Knox, Sehrish Siddiqui and David Venturella in CCI.
6.     How large a problem is corporate recidivism? Dick Cassin in the FCPA Blog.
7.     The Great Resignation and meaningful work. Brett Beasley in Notre Dame’s Deloitte Center for Ethical Leadership.
8.     Boeing safety woes hit the Boardroom. Wachtel Lipton lawyers in Harvard Law School Forum on Corporate Governance.
9.     On the intersection of culture and corporation reputation. Mike Volkov in Corruption Crime and Compliance.
10.  Learned Hand on leadership and humility. Jeff Kaplan in the Conflict of Interests blog.

Podcasts and Events

11.  CCI surveying stress in compliance. Henry Kronk in CCI. Take the survey here
12.  On Innovation in Compliance, Tom has run a 6-part special podcast series on Looking Back on 9/11, sponsored by Affiliated Monitors. In this series he will visit with professionals from a variety of compliance perspectives who will discuss how 9/11 changed our profession, including three who were in NYC during the attacks. Hear thoughts and reflections from Gabe Hidalgo, Juan Zarate, Alex Dill, Eric Feldman, Scott Moritz and John Lee Dumas.
13.  Are you exasperated? Then check out the latest offering from the Compliance Podcast Network, F*ing Argentina. In this podcast series co-hosts Tom Fox and Gregg Greenberg, author of F* Argentina explore the current American psyche of being overworked, over leveraged, overtired and overwhelmed. Find out about modern America’s exasperation with well…exasperation. In Episode 1, the dreaded Parent Meeting night at your child’s elementary school.
14.  Ethisphere’s World Most Ethical Company awards for 2022 are open for submission. For more information on the Application Process, click here.
15.  Breaking News features The Compliance Handbook, 2nd edition. Check out the Breaking News feature here. Purchase The Compliance Handbook, 2nd edition here.
Tom Fox is the Voice of Compliance and can be reached at tfox@tfoxlaw.com.

Categories
FCPA Compliance Report

Karen Woody on Comings and Goings at the SEC

In this Episode of the FCPA Compliance Report, I am joined by Professor Karen Woody to look at the current state of the SEC in the Biden Administration. Highlights of this podcast include:

A.    SEC-Early Impressions

  1. SEC debate in the public arena between the commissioners.
  2. Early impressions of SEC Chair Gensler.
  3. What are some of the top priorities you have seen so far from the SEC?
  4. Has new enforcement life been breathed into the SEC?

B.     Specific Topics

  1. Where will SEC enforcement go on SPACs? Will Lordstown Motors be a harbinger or simply just another accounting fraud?
  2. Non-bribery FCPA enforcement under books and records/internal control provisions. Does Tandy Leather continue this trend?
  3. What, if any role will SEC have in crypto regulation as a commodity? Or is it a financial instrument of some type?
  4. What other areas you are watching from the SEC for either guidance or enforcement?

C.     Into the Future

  1. How, if any has the Coronavirus health crisis changed the SEC’s approach?
  2. When might we see the SEC under Gensler start to hit its stride?
Categories
The ESG Report

The SEC and ESG with Karen Woody


 
Tom Fox welcomes Karen Woody, Assistant Professor of Law at Washington and Lee University and “uber SEC watcher”, to this week’s episode of the ESG Report. They have an engaging discussion about how the SEC views its role in advancing ESG, and how ESG can impact potential investment opportunities.
 

 
Pushing ESG Forward
The SEC is driving the conversation on ESG disclosures, Karen tells Tom. Their new reporting guidelines on climate risk will be out soon, and they believe there should be more robust reporting in other ESG areas as well. Corporate America should not be surprised, Karen says, as “there’s a very clear link between climate risk and even investor risk and financial risk…” Better reporting will ensure that investors have a better understanding of their investment risk.
 
ESG Overlap
The Exxon shareholder revolt is a great example of how environmental and governance issues can overlap. This case, Karen remarks, “says a lot about governance and activists and the power you can have with what was a very small sliver of control.” Another area of overlap is between social and governance, especially regarding compensation. “It’s an interesting time to be watching this field because it hits on every aspect of life in some ways,” Karen comments. Investors are increasingly looking at ESG as a material factor in deciding where they want to invest.
 
Part of the Total Mix
More investors see ESG as part of the total mix when deciding if an investment is sound. Karen believes that the SEC will move towards more robust ESG reporting standards, but these will be qualitative rather than quantitative. They’re also becoming more strict about enforcement, she tells Tom. Tom asks her to contrast the difference in approach toward ESG between the Trump and Biden administrations. She responds that the ESG is more of a priority under Biden and explains how the SEC is helping to further that agenda.
 
Resources
Karen Woody on LinkedIn | Twitter | Washington and Lee University of Law
 
 

Categories
FCPA Compliance Report

Karen Woody on the SEC year in FCPA Enforcement

In the Episode, I visit with Karen Woody, Assistant Professor of Law at Washington and Lee. Karen was in private practice for many years before going into Academia. She specializes in the SEC and issues around the Commission. Some of the highlights include:

  • Karen moved this year from the Indiana University-Kelly School of Business to the Law School at Washington and Lee. We discuss some of the differences in teaching at a law school as opposed to a business school.
  • Karen assesses the SEC’s overall year in FCPA Enforcement.
  • Karen highlights some of the key SEC FCPA enforcement actions over the past year.
  • She provides insights into the upcoming Supreme Court consideration of Lui and Wang attack on profit disgorgement.
  • We consider SEC Chairman Clayton’s backing off on his attempt to cut whistleblower awards. Why did it fail?
  • Woody highlights some of the SEC enforcement areas she is paying the most attention to going forward.
  • We conclude with a look into the veiled land of the future and what Woody expects to see from the SEC in 2020.

Resources
Scholarly papers from Karen Woody, click here.