Tag: RTX

Categories
Great Women in Compliance

Great Women in Compliance – Episode 248 – GWIC x Everything Compliance

Welcome to the Great Women in Compliance podcast with Hemma Lomax and Lisa Fine, sponsored by Corporate Compliance Insights. GWIC goes in a different direction today with a cross-post with Everything Compliance. Welcome to the only roundtable podcast in compliance as we celebrate our second century of shows. Kristy Grant-Hart hosted a Special Edition episode of Everything Compliance a few months ago with some of the Great Women in Compliance. The episode was so popular (and the host and guests had so much fun) that everyone involved decided to make it a quarterly event and cross-post it on GWIC. Kristy Grant-Hart hosts today’s episode of Everything Compliance (Q4-GWIC edition), which features Karen Moore, Lisa Fine, and Hemma Lomax on a guest panel.

  1. Host Kristy Grant-Hart takes a deep dive into meeting recording and note-taking services and why you need to disable these default settings. She shouts out to her hometown LA Dodgers for winning the World Series and rants about one of her favorite stores, Williams-Sonoma, playing holiday music before Halloween.
  2. Karen Moore examines Modern Slavery. She raved about United Airlines and its unending stream of communications.
  3. Lisa Fine takes a deep dive into the RTX settlements. In her Raves and Rants segment, she has a rant and a rave. First, after noting she cannot play Christmas music more than two weeks before Thanksgiving, she rants about vendors pushing compliance officers to use the budget in Q4 and raves about her hometown, the Buffalo Bills.
  4. Hemma Lomax explores the recent termination of multiple EY personnel for taking multiple pieces of training simultaneously. She rants about employees coming to compliance to write policies for AI development and the need to take a principles-based approach.

Join the Great Women in Compliance community on LinkedIn here.

Categories
Compliance Into the Weeds

Compliance into the Weeds: Unveiling RTX’s Costly Compliance Failures and Corporate Misconduct

The award-winning 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. Looking for some hard-hitting insights on compliance? Look no further than Compliance into the Weeds!

In this episode, Tom Fox and Matt Kelly take a deep dive into the RTX Foreign Corrupt Practices Act enforcement action.

Their discussion unveils complex bribery schemes involving millions paid to Qatari agents and the family of the Emir to secure defense contracts. Despite strict regulatory oversight, Raytheon’s (now RTX) compliance missteps spanned from 2012 into the 2020s, resulting in massive fines. Matt and Tom scrutinize these failures, detailing the SEC and DOJ’s mandates for dual monitorships due to violations of the False Claims Act and FCPA and the Board’s critical role in addressing these issues. Additionally, a comparative look at other significant FCPA cases, including Moog’s penalties for bribery in India, highlights persistent corporate misconduct and the ongoing challenges in achieving effective corporate compliance.

Key Highlights:

  •  Overview of Raytheon’s Violations
  •  Qatari Agent and Further Corruption
  •  Raytheon’s Compliance Failures
  • Management and Compliance Failures
  • Board Oversight and Responsibilities
  •  Reflections on Compliance and Enforcement

Resources

1.    Blogs

Matt in Radical Compliance

2.     Tom 

Instagram

Facebook

YouTube

Twitter

LinkedIn

Categories
10 For 10

10 For 10: Top Compliance Stories For The Week Ending October 19, 2024

Welcome to 10 For 10, the podcast which 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 the compliance professional, 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.

  • Kenya impeaches deputy President.  (Al Jazeera)
  • McKinsey is close to settling its part in the opioid crisis.  (Reuters)
  • A Boeing judge wants additional information on Monitor and selection. (Law360)
  • RTX settles FCPA and fraud cases. (WSJ)
  • Meta fires staff who abused $25 meal credits. (FT)
  • Is routine legal advice risky? If you advise paying a bribe. (Law.com)
  • Grewal moves to Wall Street. (WSJ)
  • Which EU country is the most corrupt? (EuroNews)
  • Moog settles FCPA claim. (WSJ)
  • Canada’s reputation for clean banking is gone in 40 minutes. (The Globe and Mail)

Connect with Tom 

Instagram

Facebook

YouTube

Twitter

LinkedIn

Categories
Daily Compliance News

Daily Compliance News: October 17, 2024 – The RTX Settles 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.

In today’s edition of Daily Compliance News:

  • RTX settles FCPA and fraud cases. (FT)
  • Mexico ex-Drug Czar to be sentencing for accepting bribes. (Reuters)
  • McKinsey is close to settling its part in the opioid crisis. (Reuters)
  • A Boeing judge wants additional information on Monitor and selection. (Law360)

Categories
Everything Compliance

Everything Compliance: Episode 140, The Fall is in The Air Episode

Welcome to the only roundtable podcast in compliance as we celebrate our second century of shows.

In this episode, we take up a potpourri of topics. We have the quartet of Matt Kelly Jonathan Armstrong, Jonathan Marks, and Karen Moore; all hosted by Tom Fox.

1. Matt Kelly looks at the RTX enforcement action by the State Department. He shouts out to the Brazilian judiciary for standing up the bullying tactics of Elon Musk in their legal dispute.

2. Karen Moore considers the Boston Consulting Group FCPA Declination. She shouts out to the Victorian Lyric Opera Company.

3. Jonathan Armstrong looks at HP and their decision to continue proceedings against the Estate of Mike Lynch after his death. He rants about Claude Wehrle and the Grenfell Tower disaster.

4. Jonathan Marks considers the role of the Audit Committee on a Board. He rants about his beloved Philadelphia Eagles and the NFL having their home opening on a Friday night in Brazil.

5. Tom Fox shouts out to Professor Stephen Bainbridge and his dismantling of the DExit fallacy.

The members of the Everything Compliance are:

• Karen Woody – Is one of the top academic experts on the SEC. Woody can be reached at kwoody@wlu.edu

•  Matt Kelly – Founder and CEO of Radical Compliance. Kelly can be reached at mkelly@radicalcompliance.com

• Jonathan Armstrong –is our UK colleague and an experienced data privacy/data protection lawyer in London. He can be reached at his new law firm Jonathan.Armstrong@puntersouthall.law

• Jonathan Marks can be reached at jtmarks@gmail.com

• Karen Moore can be reached at Kmoore51@fordham.edu

The host and producer, rantor (and sometime panelist) of Everything Compliance is Tom Fox the Voice of Compliance. He can be reached at tfox@tfoxlaw.com. Everything Compliance is a part of the award-winning Compliance Podcast Network.

For more information on the Ethico Toolkit for Middle Managers, available at no charge, click here.

Check out the full 3-book series, The Compliance Kids on Amazon.com.

Categories
2 Gurus Talk Compliance

2 Gurus Talk Compliance: Episode 36 – The Fall is Here 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, Kristy and Tom discuss a range of vital topics in the compliance and legal world. They delve into the implications of the recent election on sanctions and OFAC policies, highlighting a rare decline involving Boston Consulting Group. The episode also covers significant enforcement actions, challenges of corruption in California and South Africa, and the role of chief resilience officers in corporate risk. Additionally, they share quirky and alarming anecdotes, such as a man attempting to check a human as luggage, and emerging trends in the ever-evolving compliance landscape.

Stories Include:

  • PE Partners loses equity for FCPA violations. (WSJ)
  • Tough U.S. Sanctions Packages Are Here to Stay—Whether It’s Harris or Trump – (WSJ)
  • Nordea Bank to pay $35MM for AML violations. (WSJ)
  • BCG receives a Declination. (WSJ)
  • RTX to pay $1.2bn for trade sanctions violations. (Radical Compliance)
  • South Africa investigating $7bn worth of corruption at state-owned enterprises. (Toronto Star)
  • How California Became a New Center of Political Corruption (NYT)
  • How Do You Change a Chatbot’s Mind? (NYT)
  • Now Hiring: Chief Resilience Officer. Do You Have What It Takes? (CCI)
  • Shrink-Wrapped Florida Man Tries to Check-In as Luggage at Miami International Airport – Simple Flying: HERE

Resources:

Kristy Grant-Hart on LinkedIn

Spark Consulting

Prove Your Worth

Tom

Instagram

Facebook

YouTube

Twitter

LinkedIn

Categories
10 For 10

10 For 10: Top Compliance Stories For The Week Ending August 3, 2024

Welcome to 10 For 10, the podcast which 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 the compliance professional, 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 EU investigates Chinese corruption in Cyprus. (FT)
  • US aviation company accused of bribery in South Africa. (Business Insider)
  • Glencore trader criminally charged by SFO for bribery. (FT)
  • Meta agrees to pay the state of Texas a $1.2 billion fine. (Texas Tribune)
  • FirstEnergy loses the privilege ruling. (Reuters)
  • Are corporate criminal convictions ‘just a footnote’?   (WSJ)
  • State Street agreed to a $7.5 million fine for Russia’s sanctions violations. (WSJ)
  • Mozambique wins the ‘hidden debt’ case. (Barron’s)
  • The top Trump bundler connected the FirstEnergy corruption scandal. (Ohio Capital Journal)
  • Raytheon (RTX) sets aside $959 million for pricing, corruption probe fine.   (Bloomberg)

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:

Instagram

Facebook

YouTube

Twitter

LinkedIn

Categories
Daily Compliance News

Daily Compliance News: July 29, 2024 – The RTX Reserves 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.

In today’s edition of Daily Compliance News:

  • Raytheon (RTX) sets aside $959MM for pricing, corruption probe fine.  (Bloomberg)
  • State Street agreed to $7.5MM fine for Russia sanctions violations.  (WSJ)
  • Top Trump bundler connected FirstEnergy corruption scandal. (Ohio Capital Journal)
  • Trump vows to end crypto enforcement. (FT)

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