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2 Gurus Talk Compliance

2 Gurus Talk Compliance – Episode 15 – The I Don’t Like it Edition

What happens when two top compliance commentators get together? They talk 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, Tom and Kristy take on a wide variety of topics, including a visit to Florida Women.

The landscape of corporate compliance is ever-evolving, with recent developments posing new challenges and opportunities for businesses. Compliance is a dynamic process that requires constant monitoring and retrospective reviews to identify potential risks and changes. He also emphasizes the importance of involving compliance officers early in the due diligence process of mergers and acquisitions and acknowledges the complexities of managing conflicts of interest in networking and hiring. Tom and Kristy advocate for a proactive approach to compliance, highlighting the importance of regulatory resources such as the New York State Department of Financial Services’ cybersecurity rules. She also stresses the need for clarity and certainty in compliance practices, particularly in areas like mergers and acquisitions and conflicts of interest. Join Tom Fox and Kristy Grant-Hart as they delve deeper into these issues in the latest episode of the 2 Gurus Talk Compliance podcast.

 Highlights Include:

  1. Albemarle FCPA enforcement action. (FCPA Blog)
  2. DAG Monaco on more credit for self-disclosure, this time in M&A. (Radical Compliance)
  3. NYDFS Comments on proposed cyber disclosure amendments. (Compliance and Enforcement Blog)
  4. Michael Lewis and SBF. (The Dig)
  5. Identifying compliance blind spots. (CCI)
  6. Lawmakers Press NBA, Players Union on Forced Labor (WSJ)
  7. Can you tell the difference between acceptable networking and wrongful hiring practices? (FCPA Blog)
  8. Crypto Sector Seeks Lawyers, Compliance Officers After Reputational Hits (WSJ)
  9. Stop Obsessing About Work All the Time (WSJ)
  10. Two women stole bags of food from Florida Taco Bell during armed robbery, deputies say (Fox 25 Orlando)

Resources 

Kristy Grant-Hart on LinkedIn

Spark Consulting

Tom

Threads

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Facebook

YouTube

Twitter

LinkedIn

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From the Editor's Desk

From the Editor’s Desk – September and October, 2023 in Compliance Week

Welcome to From the Editor’s Desk, a podcast where co-hosts Tom Fox and Kyle Brasseur, EIC at Compliance Week, unpack some of the top stories that have appeared in Compliance Week over the past month, look at top compliance stories upcoming for the next month, talk some sports and generally try to solve the world’s problems.

Tom Fox and Kyle Brasseur are back. In this edition, they discuss the importance of robust compliance programs and proactive disclosures that must be balanced in today’s complex regulatory landscape. Tom underscores the significance of effective compliance measures and the innovative use of data analytics in enhancing compliance programs. He advocates for companies to prioritize these aspects to mitigate risks and improve their overall compliance posture. On the other hand, Brasseur emphasizes the need for companies to take proactive measures and implement effective compliance programs, citing a case where a bank’s failure to heed warnings resulted in a hefty financial penalty. He stresses that companies cannot afford to wait for regulatory action or assume that things will change in their favor. Join Tom Fox and Kyle Brasseur on this episode of the From the Editor’s Desk podcast as they delve deeper into this critical topic.

Highlights Include:

  • FCPA Settlement: Innovative Data Analytics Compliance
  • Deutsche Bank Affiliate’s Climate Disclosure Settlement
  • Shinhan Bank’s Lack of Compliance Program
  • Anti-Money Laundering Landscape in Europe
  • AI’s Impact on Compliance Landscape
  • Compliance Insights: Unveiling the CCO’s Perspective
  • NFL season to date
  • MLB playoffs are here
  • Dame Lillard trade and it’s fallout

 Resources:

Kyle Brasseur on LinkedIn

Compliance Week

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Daily Compliance News

Daily Compliance News: October 5, 2023 – The Space Junk Edition

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 in 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.

Stories we are following in today’s edition:

  • Matt Levine on what Michael Lewis said about SBF. (BBC)
  • New compliance risk—space junk. (NYT)
  • Is the NBA too cozy with China? (WSJ)
  • Will the CFPB survive the Supreme Court? (Reuters)
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From the Editor's Desk

From the Editor’s Desk – June and July, 2023 in Compliance Week

Welcome to From the Editor’s Desk, a podcast where co-hosts Tom Fox and Kyle Brasseur, EIC at Compliance Week, unpack some of the top stories that have appeared in Compliance Week over the past month, look at top compliance stories upcoming for the next month, talk some sports, and generally try to solve the world’s problems.

Tom Fox and Kyle Brasseur are back. In this edition, they discuss the recently concluded Compliance Week 2023, with Artificial Intelligence and off-channel communications being two of the top compliance issues. The CW ESG Virtual Conference is becoming an annual event and is set for September. Finally, they consider whether Congress will take action on data privacy due to the patchwork of state laws.

In their Sports section, they consider if the Warriors’ move was a gamble, and if Chris Paul can adjust to his new role, he could help the Warriors get back to the top. Denver is also a challenge in the Western Conference, having won the series against the Miami Heat in five games, three of which were won by double digits.

 Highlights Include:

  • Women of Compliance
  • Compliance Week 2023 Wrap Up
  • Compliance Week Conference in Atlanta
  • Chris Paul Trade
  • Marcus Smart Trade
  • NBA Finals Analysis

Resources:

Kyle Brasseur on LinkedIn

Compliance Week

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Daily Compliance News

Daily Compliance News: June 17, 2023 – The Glenda Jackson Tribute Edition

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.

Stories we are following in today’s edition:

  • CoinEx leaves the US. (WSJ)
  • Ja Morant was suspended for 25 games. (ESPN)
  • The invidiousness of corruption. (Bloomberg)
  • How large risk is your cloud? (FT)
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Daily Compliance News

Daily Compliance News: June 3, 2023 – The It’s Going to be Bad Edition

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.

Stories we are following in today’s edition:

  • Ja Morant punishment is to be levied after NBA Finals. (ESPN)
  • The law department of the future. (WSJ)
  • A white-collar prison in El Salvador? (Reuters)
  • Ex-Novartis execs cleared in Greece. (Fierce Pharma)
Categories
FCPA Compliance Report

Ethics Madness 2023

Welcome to the award-winning FCPA Compliance Report, the longest-running podcast in compliance. This episode was recorded during March Madness, the return of Jason Meyer and Tom For Ethics Madness. In Ethics Madness, dive into the ethical questions surrounding the University of Alabama basketball team and their missteps in handling incidents involving their players. In this exciting podcast, the hosts discuss the possibility of redemption for individuals who have committed past indiscretions and how companies must vet their employees for a better work environment. They also cover topics such as mental health, the importance of diversity, equity, and inclusion in the workplace, and how companies should embrace ESG for a better business process. You’ll also hear insightful interviews with professionals on compliance and ethics education and enjoy fun segments like the Compliance Anthem of the Week. Don’t miss out on this amazing podcast that will inspire and educate compliance and ethics professionals. 

Key Highlights

·      Ethics in Sports: University of Alabama Basketball

·      Can you love art but not artists?

·      Redemption for unethical behavior in sports

·      The Power of Forgiveness & Reputation Management in Sports

·      Mental health in the compliance profession

·      Political Pressure on DEI Programs in the Southern States

·      Fostering DEI in Organizations

·      Core values and politics in universities & ESG betting

·      ESG in Energy Business Processes

·      Ivy League success in March Madness

·      Professional skepticism and NCAA tournament predictions

 Notable Quotes

“Should I feel guilty that I put the tide in my bracket?”

“Even energy companies are doing ESG. Why? Because they see it in their self-interest.”

“Spending more time and more attention now helping organizations with including and engaging with the neurodivergent people in their workforces and trying to involve those workers in ethics compliance, and that’s been fascinating work as well.”

“And to me, Tom, this debate feels like a debate at the core of ethics and compliance because this is an example of some core values.”

Resources

Jason Meyer on LinkedIn

The Eight Mindsets Podcast on Spotify

Tom Fox

Instagram

Facebook

YouTube

Twitter

LinkedIn

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Daily Compliance News

March 16, 2023 – The Sell or Else Edition

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.

Stories we are following in today’s edition of Daily Compliance News:

  • TikTok told to divest or face US ban. (WSJ)
  • Ja Morant was suspended for 8 games. (ESPN)
  • CitiGroup makes a downward adjustment to exec salary. (Bloomberg)
  • Carrie Tolstedt pleads guilty? (Reuters)
Categories
Blog

The Nets and a Failure of Corporate Culture

What is corporate culture? What are ethical values? What is integrity at your organization? All of these questions are critical to the success of any business. Unfortunately, we usually see the answers to these questions play out in the negative. This week the Brooklyn Nets hit the trifecta of negative answers to all the above.

It all started out with a tweet from that noted freethinker (i.e., flatworlder & anti-vaxxer) Kyrie Irving who, according to Rolling Stone magazine, took to Twitter to boost a movie and book, Hebrews to Negroes, stuffed with antisemitic tropes. The movie espouses ideas in line with more extreme factions of the Black Hebrew Israelites, which have a long history of misogyny, homophobia, xenophobia, Islamophobia, and especially antisemitism. If that was not bad enough, when asked to explain himself in a post-game press conference, Irving was shocked, shocked that anyone would question him, saying according to ESPN, he “does not believe he did anything wrong in promoting an antisemitic film and book on his social media accounts.”

The condemnation was swift from the Nets and other National Basketball Association (NBA) players. According to Rolling Stone, as an organization, “The Brooklyn Nets strongly condemn and have no tolerance for the promotion of any form of hate speech. We believe that in these situations, our first action must be open, honest dialogue. We thank those, including the ADL, who have been supportive during this time.” The Nets owner Joe Tsai also issued a statement Friday night on Twitter expressing, “I’m disappointed that Kyrie appears to support a film based on a book full of anti-Semitic disinformation. I want to sit down and make sure he understands this is hurtful to all of us, and as a man of faith, it is wrong to promote hate based on race, ethnicity or religion.” He added, “This is bigger than basketball.”

Nets (then-more on that below) coach Steve Nash said in Basketball News, “”I just hope that we all go through this together,” Nash said before the Nets game against the Indiana Pacers. “There’s always an opportunity for us to grow and understand new perspectives. “I think the organization is trying to take that stance where we can communicate through this. And try to all come out in a better position and both more understanding and more empathy for every side of this debate and situation,” Nash added.”

According to SI.com, “the Inside the NBA crew of Ernie Johnson, Charles Barkley, Kenny Smith and Shaquille O’Neal had strong opinions on the” tweet and events.  “Barkley and O’Neal didn’t pull any punches in ripping Irving, with both hosts referring to him as “an idiot.” Barkley expressed his disappointment that the NBA didn’t suspend Irving, while Shaq called out Irving.”

What does a company do when one of its top producers lays out an antisemitic tweet? Why of course it fires the coach. Of course, the Nets said was it was based on the team’s abysmal start. GM Sean Marks said, “a change is necessary at this time. ESPN noted “it’s exceptionally rare for an NBA coach to be let go on a game day, much less roughly 12 hours after a win (the Nets beat the Indiana Pacers 116-109 on Monday night). Marks explained the business decision had been in the works for days. If the timeline he refers to here is accurate, these conversations would have actually started only a few days into the 2022-23 regular season.” Although Marks said the players had no input into the decision to fire Nash, nothing gets done on the Nets without the input of its star player Kevin Durant. In other words, Irving puts out an antisemitic tweet and the coach is fired. All of that sounds like NCAA enforcement back in the day where when Ohio State was caught violating the recruiting rules, Western Kentucky got put on probation.

But it even gets worse from a culture, reputational and integrity perspective next. Apparently, the Nets are aiming to hire the suspended Boston Celtics head coach Ido Udoka. Udoka was suspended before the season started, according to The Athletic for “having an intimate relationship with a female member of the Celtics organization. The Celtics front office determined Udoka’s actions were unacceptable, and he was unfit to coach the team he had just led to the NBA Finals. They suspended the second-year coach for the entirety of the 2022-23 season.”

The Athletic (and even WOJ) reported that Udoka is on the verge of being awarded the same job in a different organization, not even two months into his suspension. The article went on to ask, “And what about the Nets? Did they even think about the women who work in their organization and how they would be affected by such a hire? Hiring Udoka is a slap in the face to all of those women and women everywhere.”

What is the culture of the Nets? I went to the Nets website to review their Code of Conduct but it is entitled, NBA Fan Code of Conduct. No policy on harassment, discrimination or anything else. Even the Houston Astros had a policy against abuse towards women when they decided it only applied to Astros players and not players from other teams when they traded for Roberto Osuna.

Where is the NBA in all of this? Nowhere to be seen apparently. Once again, I went to the NBA website and no public facing Code of Conduct for itself or its teams.

What does all of this say about the culture, ethics and integrity of the Net? I will leave you to conjugate on that question. What would you do when a top producer violates an accepted norm by supporting a clearly antisemitic movie? Do you think he can claim that there was nothing in the Code of Conduct about it as the Nets apparently have no Code of Conduct? What does it say about its romancing of a new head coach who is currently under suspension for having an inappropriate relationship with a female team employee that the Celtics considered a violation of the team’s organizational guidelines. What will it mean for female employees? Will or even can they ever trust him?

And everyone thought the culture of the Washington Football Team was the worst in sports.

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From the Editor's Desk

October and November in Compliance Week

Welcome to From the Editor’s Desk, a podcast where co-hosts Tom Fox and Kyle Brasseur, EIC at Compliance Week, unpack some of the top stories which have appeared in Compliance Week over the past month, look at top compliance stories upcoming for the next month, talk some sports and generally try to solve the world’s problems.

In this month’s episode, we look back at top stories in CW from October around the Lafarge criminal action, the former Uber CISO convicted criminally for attempting to hide a data breach, and the agreement between Google and the DOJ for the company to create a position of a legal compliance monitor. We previewed some of the stories CW will look at in November, including the current state of SEC rulemaking, and Kyle teased out some findings from the CW ‘Inside the Mind of the CCO’ survey, which recently concluded.

We conclude with a look at some of the top sports stories, including a look at a Red Sox fan’s view of the 2022 World Series, ask about a quarterback controversy in New England and overreact to the first week of the NBA season.