Tag: RTW

Daily Compliance News: February 21, 2024 – The Return to The Office (or else) Edition

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Post date February 21, 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:

Screw you: Companies demanding RTW. (BBC)
Renewable energy and ABC. (The Conversation)
The Shadow Insider Trading case goes to trial. (WSJ)
Deutsche Bank is still short on AML controls. (FT)

For more information on Ethico and a free White Paper on top compliance issues in 2024, click here.

Tags corruption, Deutsche Bank, RTW, Shadow Insider Trading

2 Gurus Talk Compliance

2 Gurus Talk Compliance: Episode 22 – FCPA Blog Tribute

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Post date February 9, 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, Tom and Kristy take on a wide variety of compliance-related topics but begin with their reflections on the FCPA Blog.

In the ever-evolving world of regulatory compliance and risk management, challenges are constant, and strategies must be dynamic. Tom highlights the corruption in Ukraine, Elon Musk loses $55bn and throws a tantrum, and why Brazil wants to punish Transparency International. Kristy highlights the DEI, how to fire employees, remote workforce challenges for a CCO and checks in on Florida Man. Join Tom Fox and Kristy Grant-Hart as they delve deeper into these issues in this episode of the 2 Gurus Talk Compliance podcast.

Highlights Include:

1. FCPA Blog announces its closing. (FCPA Compliance & Ethics Blog)

2. A massive corruption scandal was uncovered in Ukraine. (CNN)

3. Musk’s $55bn pay package is voided and he wants to move to Texas. (WSJ)

4. An Ecuadorian official got a $70,000 watch as a bribe. (Bloomberg)

5. Brazil goes after TI for its CPI. (FT)

6. Firing employees the right way is part of compliance (FCPA Blog)

7. Mark Cuban Doubles Down on Support for DEI After Trading Barbs With Anti-Diversity Crusader Elon Musk (Inc.com)

8. Remote Workforces Create New Challenges for Investigators and Compliance Officers (NAVEX)

9. New Jersey and New Hampshire Pass Comprehensive Privacy Legislation (Inside Privacy/Covington)

10. Florida man steals Snoop Dogg’s bobblehead but later has change of heart (Local 10 News)

Resources:

Kristy Grant-Hart on LinkedIn

Tom

Tags Brazil, CCO, compliance, corruption, Elon Musk, FCPA Blog, RTW, TI

GalloCast

Gallocast-Episode 12: Halloween and Day of the Dead

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Post date November 5, 2023
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Welcome to the GalloCast. You have heard of the Manningcast in football. Now we have the Gallocast in compliance. The two top brothers in compliance, Nick and Gio Gallo, come together for a free-form exploration of compliance topics. It is an excellent insight on compliance brought to you by the co-CEOs of ComplianceLine. Fun, witty, and insightful with a dash of the two brothers throughout. It is like listening to the Brothers Gallo talk about compliance at the Sunday dinner table. Hosted by Tom Fox, the Voice of Compliance.

Halloween and Day of the Dead are just past us as the Brothers Gallo return for another Gallocast. Nick Gallo, in discussing SBF and FTX, emphasizes the importance of legal guidance and accountability in navigating complex ethical issues. He believes in the power of effective communication and strategic leadership in advocating for corporate ethics and compliance. On the other hand, Gio Gallo, with his focus on storytelling and advocacy, stresses the significance of securing budget allocation towards compliance and ethics from the executive suite. He believes a cultural shift within the organization involving a diverse group of individuals is crucial in addressing compliance and ethics challenges. Join Tom Fox, Nick Gallo, and Gio Gallo as they delve deeper into these topics in this episode of the GalloCast podcast.

Key Highlights:

SBF and Advice of Counsel defense. Where does the leadership buck stop?
RTW or WFH. How should an employer(s) approach this topic?
DS Disco- Why would 25% of the workforce write a letter to BOD asking them to fix corporate culture?
At what point should a start-up build out its internal controls? How about a compliance program?
How transparent should your whistleblowing process be with a reporter?
UM, the football program, is being investigated for electronic sign stealing.
What happens if a whistleblower allegation is made in bad faith?

Resources

Nick Gallo on LinkedIn

Gio Gallo on LinkedIn

Ethico

Tom Fox

Connect with me on the following sites:

Tags compliance, culture, FTX, RTW, SBF, WFH, whistleblower

GalloCast

Gallocast – Episode 12: Halloween and Day of the Dead

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Post date November 3, 2023
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Key Highlights:

SBF and Advice of Counsel defense. Where does the leadership buck stop?
RTW or WFH. How should an employer(s) approach this topic?
DS Disco- Why would 25% of the workforce write a letter to BOD asking them to fix corporate culture?
At what point should a start-up build out its internal controls? How about a compliance program?
How transparent should your whistleblowing process be with a reporter?
UM, the football program, is being investigated for electronic sign stealing.
What happens if a whistleblower allegation is made in bad faith?

Resources

Nick Gallo on LinkedIn

Gio Gallo on LinkedIn

Ethico

Tom Fox

Connect with me on the following sites:

Tags compliance, culture, FTX, RTW, SBF, WFH, whistleblower

Daily Compliance News

Daily Compliance News: August 8, 2023 – The Shocked, Just Shocked Edition

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Post date August 8, 2023
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Welcome to the Daily Compliance News. Each day, Tom Fox, the Voice of Compliance brings to 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.

· Largest Altice shareholder ‘shocked’ about corruption allegations. (Broadband)

· Zoom order employees back to the office. (NYT)

· Former CISA head blasts new SEC disclosure rules. (FT)

· Siemens under ABC investigation in Austria. (Reuters)

Tags Altice, cyber disclsoure, RTW, SEC, Siemens, WFH

Daily Compliance News

January 9, 2023 – The Don’t Pee in a Plane Edition

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Post date January 9, 2023
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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.

Some of the stories include:

DOJ sets up a website for those defrauded by FTX. (Reuters)
Vietnam removes two Deputy PMs for corruption. (Aljazeera)
Indian bank exec urinates on a fellow plane passenger. (NYT)
Will remoted work continue in 2023? (Bloomberg)

Tags corruption, DOJ, DTX, Remote work, RTW, SBF, Vietnam

Compliance Into the Weeds

Mental Health and Compliance Officers

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Post date November 30, 2022
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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. This episode considers the very prescient topic of mental health and compliance officers. There is a mental health crisis in the U.S. workforce today, which also applies to compliance officers. Matt recently moderated a webinar hosted by Ethico on how mental health issues can affect corporate culture and compliance officers. The panelists included Paul Liebman, head of compliance at Harvard University; Sarah Ross, a former compliance officer at Novartis who now runs a consulting business on burnout, depression, and related issues; and Nick Gallo, co-CEO at Ethico.

Some of the highlights included:

How the Covid-19 pandemic accelerated the issues of mental health for all workers.
We had some great suggestions from the panelists and webinar participants.
Understanding the difference between mental health and mental illness is critical.
Consider how your company could weave mental health awareness into training, especially manager training.
Define boundaries between work and personal life.
Finding a friend in your field can be a critical mental health safety check. If you feel like you have someone to speak to about stress, you’re more likely to understand and confront that stress. True for compliance officers and other employees alike.
There is a strong connection between mental health and a speak-up culture generally. If employees feel afraid to speak up about feeling stressed or overworked, would they be equally reluctant to speak up about misconduct?

Resources

Matt Kelly in Radical Compliance

Tags CCO, compliance professionals, COVID-19, mental health, RTW, Speak up culture, WFH

Innovation in Compliance

The Real Cost of Returning to the Office With Dr. Gleb Tsipursky

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Post date July 19, 2022
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Dr. Gleb Tsipursky is the thought leader and CEO of Disaster Avoidance Experts, a boutique future-of-work consultancy that helps tech and insurance executives drive collaboration, innovation, and retention in hybrid work. Currently, he is focusing on normalizing hybrid and remote work, which he further discusses in his book, Leading Hybrid and Remote Teams. Tom Fox welcomes him to this week’s show to talk about Elon Musk’s misinformed views on remote work and why working from home is better for productivity levels.

Remote Work v. Working From the Office
Tom asks Dr. Gleb what drove him to write the article entitled, Elon Musk’s back-to-the-office order will undermine Tesla’s future. It was his response to Musk’s announcement to abolish remote work on the grounds that it made his employees unproductive, Dr. Gleb tells Tom. He has been researching hybrid remote work since the beginning of the pandemic, and found that remote workers are much more productive. A study at Stanford determined that productivity improved by 5% as office workers worked remotely. “They [workers] don’t have to do the unpaid labor of the commute and they can focus more on productive activities because they’re not interrupted,” Dr. Gleb explains.

Authoritarian Workplace
Tom asks Dr. Gleb if he believes a top-down command and control approach to leadership would work in 2022 and beyond. Dr. Gleb replies that this kind of leadership can only be successful in narrow environments. He believes that it is most successful in environments like warehouses “where you don’t need to be skilled, or a kind of manufacturing job where …you don’t need to do much innovative work.” However, since Tesla is an innovative company, command and control will undermine Tesla’s future. It is a company that requires knowledgeable and creative thinkers and those types of people would suffer under micromanagement. He also points out that demanding his employees to return to the office because he believes they are not working remotely, signals a lack of trust which is a very dangerous corporate culture.

The Fate of Tesla
Many of Tesla’s employees are innovators and creators; these include research and development staff and software engineers. Throughout the pandemic, these employees have been successfully and productively working from home, but now they are being forced to go out to the office. Naturally, these accomplished innovators would seek employment elsewhere, where they have comfortable working conditions. This leaves Tesla with employees who are conformists, who are okay with the authoritarian culture being imposed on them, and these people are less creative and innovative. Over time this will cause Tesla to lose the edge that makes them unique, Dr. Gleb argues.

Resources
Dr. Gleb Tsipursky | LinkedIn | Twitter
Disaster Avoidance Experts | Book – “Leading Hybrid and Remote Teams”