Tag: Seagate

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GalloCast

GalloCast – Episode 9, Live at ECI

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 a great insight into compliance brought to you by the co-CEOs of Ethico. Fun, witty, and insightful with a dash of the two brothers throughout. It’s like listening to the Brothers Gallo talk compliance at the Sunday dinner table. Hosted by Tom Fox, the Voice of Compliance.

In this episode of the GalloCast, the trio discusses some of the most challenging issues companies face regarding ethics and compliance. They start by diving into the recent $767 million fine slapped on British American Tobacco for colluding to sell cigarettes into North Korea, violating sanctions. They debate who should be held accountable for changing a company’s culture, how deep-rooted biases can affect decision-making, and the effectiveness of regulatory enforcement. The discussion covers the intricacies of ethics in different business models, including distributor and commissioned sales agent models. They also discuss the risks and benefits of a conservative approach and the adaptability of ethics and compliance programs.  The episode concludes by discussing cultural fit in mergers or acquisitions and how finding common ground and preserving distinctness can be accomplished. Don’t miss out on the wealth of insights and practical advice on navigating these challenging issues in the corporate world. Tune in to GalloCast now!

Key Highlights:

  • BAT’s illegal sales to North Korea
  • Determining Right and Wrong in Corporate Decisions
  • Balancing Values and Profit in Business
  • Balancing Compliance and Ethics Programs
  • Adapting Ethics & Compliance Programs
  • Ethics and Compliance Teams in Companies
  • Dangers of Groupthink in Decision-Making
  • Culture’s Role in Business Mergers and Acquisitions
  • Cultural Integration in Mergers & Acquisitions

Resources

Nick Gallo on LinkedIn

Gio Gallo on LinkedIn

Ethico

Tom Fox 

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From the Editor's Desk

From the Editor’s Desk – April and May, 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 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.

Highlights Include:

·      The cadence of compliance stories

·      ChatGPT and AI in compliance

·      Reporting and Editing compliance stories

·      Case studies in Compliance Week

·      The surprises of the NBA playoffs in 2023

·      Pitch clock in baseball

·      The Boston Bruins’ quest for all-time greatness

Kyle relates some of the upcoming Compliance Week 2023 Conference highlights from May 15-17 in Washington, DC. Listeners of this podcast will receive a discount of $200 by using code TF200 on the link below.

Resources

Compliance Week 2023 information and registration here

Kyle Brasseur on LinkedIn

Compliance Week

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Compliance Into the Weeds

Compliance into the Weeds – Seagate Sanctions Enforcement Action

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 more, looking for some hard-hitting insights on sanctions compliance. Look no further than Compliance into the Weeds!

In this episode, Tom and Matt discuss the recent $300 million fine against Seagate Technology Corporation for violating US sanctions against Huawei. They analyze Seagate’s approach to sanctions compliance, especially when compared to Microsoft’s response to similar violations. With billions of dollars in sales at stake, the implications of these cases for compliance officers are huge. With frank insights, deep knowledge, and engaging dialogue, Compliance into the Weeds is a must-listen for anyone interested in sanctions compliance and the world of business.

Key Highlights:

·      Seagate’s controversial business dealings with Huawei

·      Seagate’s Sanction Violations and Compliance Programs

·      Seagate’s Violation of Foreign Product Rule

·      Expanding Lessons for Compliance Officers

 Notable Quotes:

“Sanctions is going to be the new FCPA risk,” according to the US Justice Department.”

“The failure to acknowledge your culpability is a key multiplier under the federal sentencing guidelines. And so if this had been any criminal penalty, this fine and penalty would have gone through the roof.”

“Look to your left, look to your right, see what other people are doing, what they’re getting in trouble for, and incorporate those lessons learned into your risk assessment.”

“Sanctions are hard, and companies can misunderstand this. Well, very specifically, the rule that got Seagate into trouble is known as Foreign Direct Product Rule or what is it exactly, the foreign-produced direct product rule?”

Resources

Matt 

LinkedIn

Blog Post in Radical Compliance

Tom 

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YouTube

Twitter

LinkedIn

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Daily Compliance News

April 21, 2023 – The Unrepent 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:

  • Seagate pays $300MM fine for selling to Huawei, says it did nothing wrong. (WSJ)
  • ‘New’ DC consensus on China? (FT)
  • CBI self-discloses yet another criminal offense to the police. (BBC)
  • Uganda charges 3rd minister in a corruption scandal. (Reuters)