Tag: SEC

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This Week in FCPA

This Week in FCPA-Episode 156 – the Farewell to May edition

As the lads wish a fond farewell to May, enjoy the Astros still leading the MLB with the best record and looking forward to the start of summer, they return to discuss both events some of this week’s top compliance and ethics stories which caught their collective eyes.

  1. Dave Lefort’s Top 10 takeaways from Compliance Week 2019. (sub req’d) Tom, Mary Shirley, Lisa Fine and Amii Bernard-Bahn provide their reflections on a cross-posted podcast.
  2. Why ethics matters at the top.
  3. Can UNCAC help Mozambique recover funds stolen through corruption? Rick Messick explores.
  4. What is cooperation and remediation? Matt Kelly explores.
  5. Why is pre-acquistion DD from the compliance perspective now critical in France? Antoine F. Kirry, Frederick T. Davis, and Alexandre Bisch discuss.
  6. How much does a monitorship cost? Jay continues his multipart series on monitorships .
  7. How do you audit your investigative protocol? Mike Volkov explains in a 3-part series on his blog site Corruption, Crime and Compliance.
  8. Why is visibility key for compliance? Elsa Chan explores.
  9. CITGO now part of PdVSA/Venezuelan corruption scandal. Dick Cassin reports. Marissa Luck.
  10. Is there a legal duty to set the right ‘tone at the top?”
  11. This week Tom had a special 5-part podcast series sponsored by Hanzo on using AI and data analytics in compliance investigations. Check out the following: Part 1-Current State of Investigations; Part 2-Using AI and Web-Based Evidence; Part 3– Overcoming Investigative Challenges; Part 4-Improving Investigative Efficiencies; Part 5-Where are investigations headed? The podcast is available on multiple sites: the FCPA Compliance Report, iTunes, JDSupra, Megaphone,YouTube,  Spotifyand Corporate Compliance Insights. The Compliance Podcast Networkjoins C-Suite Radio.
  12. Join Tom in Boston for industry leading Compliance Master Class at the offices on AMI on June 11 & 12. Listeners who attend will receive a complimentary copy of The Compliance Handbook. Registration and Information is here. Join Tom, Eric Feldman, Vin DiCianni and Jay at the AMI Roundtable in Boston on June 13 for a deep dive into the DOJ’s new Evaluation of Corporate Compliance Programs-2019 Guidance. Information and registration is here.

Tom Fox is the Compliance Evangelist and can be reached at tfox@tfoxlaw.com. Jay Rosen is Mr. Monitor and can be reached at jrosen@affiliatedmonitors.com.
For more information on how an independent monitor can help improve your company’s ethics and compliance program, visit our sponsor Affiliated Monitors at www.affiliatedmonitors.com.

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Daily Compliance News

Daily Compliance News: May 30, 2019-is a spanking is coming edition

In today’s edition of Daily Compliance News:

  • Is the SEC useless? Mark Cuban thinks so. (Yahoo Finance)
  • Monitor orderd for Wynn Casinos in Massachusettes. (WSJ)
  • Frederick Pierucci continues his crusade against the DOJ and FCPA enforcement.(Shine)
  • What will happen to Carnival Cruise Lines? (Miami Herald)
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Daily Compliance News

Daily Compliance News: May 14, 2019-the from bad to worser edition edition

In today’s edition of Daily Compliance News:

  • Judge scolds SEC over VW lawsuit. (WSJ)
  • With friends like this? (Corporate Counsel)
  • Bombadier faces World Bank debarment. (org.cn)
  • Things go from bad to terrible for Bayer. (WSJ)
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Daily Compliance News

Daily Compliance News: May 13, 2019-the regime change edition

In today’s edition of Daily Compliance News:

  • DOJ asks Judge to remove lead defense counsel for Huawei. (NYT)
  • Did cost cutting cause Boeing 737 Max crashes? (Bloomberg)
  • House Financial Services approves bill to overturn Digital Trust Realty. (Radical Compliance)
  • States allege generic drug makers obstructed justice in cartel probe. (Washington Post)
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Daily Compliance News

Daily Compliance News: May 11, 2019-the what is data security edition

In today’s edition of Daily Compliance News:

  • What is data security? Ask Jonathan Armstrong. (Financial Times)
  • Uber tanks at IPO opening. What did compliance have to do with it? (WSJ)
  • SEC Thursday fined Telefônica Brasil S.A. $4.125MM for World Cup tickets. (FCPABlog)
  • What to do when the boss tells you to lie to the feds? Ask Don McGahn. (New York Times)
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Daily Compliance News

Daily Compliance News: April 29, 2019-the Welcome to my Tweet-Up edition

In today’s edition of Daily Compliance News:

Categories
This Week in FCPA

This Week in FCPA-Episode 149 – the White Privilege edition

After a week hiatus, the lads are back. While debating white privilege and the Varsity Blues scandal, they also take a look at some of this week’s top compliance and ethics stories which caught their collective eyes this week.

  1. Guilty pleas begin in the Varsity Blues scandal. Antonio Blumberg report in the Huffington Post. For those who did not plead guilty, additional charges filed. Melissa Korn reports in the Wall Street Journal. Jay interviews Justin Paperny about the Varsity Blues sting, in Corporate Compliance Insights. For one of the best and fullest explanations of the white privilege component, see Caitlan Flanagan’s article in The Atlantic.
  2. Does your company lack integrity? Mike Volkov gives 5 signs which show it does, on Corruption, Crime and Compliance.
  3. Standard Chartered joins the $1 bn fine club. Emily Flitter reportsin the New York Times. Jon Rusch takes a deep dive in Dipping Through Geometries.
  4. What is the intersection of DD and AI? Merritt Smith considers in the FCPA Blog.
  5. OFAC enforcement action demonstrates need for pre-acquisition due diligence? Lawyers from Paul, Weiss in the NYU Compliance and Enforcement Blog.
  6. What is ethical AI? Tom Austin explores on the Analyst Syndicate.
  7. What are the shifting reasons for FCPA enforcement? Kevin Keller on the Global Anti-corruption Blog.
  8. What are the risks to investors in Uber? Shannon Bond reports in the Financial Times. (sub req’d)
  9. This week Tom explores the intersection of Shakespeare and Compliance through the lens of King Lear. Check out the following: Part 1-Innovation;Part 2– Changing Your Focus; Part 3– Engaging Your Audience; Part 4-a Different Interpretation; and Part 5-The Fool.The podcast is available on multiple sites: the FCPA Compliance Report, iTunes, JDSupra, Panoplyand YouTube. The Compliance Podcast Network is now also on Spotify and Corporate Compliance Insights.

Tom Fox is the Compliance Evangelist and can be reached at tfox@tfoxlaw.com. Jay Rosen is Mr. Monitor and can be reached at jrosen@affiliatedmonitors.com.
For more information on how an independent monitor can help improve your company’s ethics and compliance program, visit our sponsor Affiliated Monitors at www.affiliatedmonitors.com.

Categories
FCPA Compliance Report

FCPA Compliance Report-Episode 425, the Fresenius FCPA Enforcement Action

In this episode I have back fan fav Mike Volkov. We break down the recently released Fresenius FCPA enforcement action. Some of the highlights from the podcast include:

  • A detailed discuss of the underlying facts.
  • What were the bribery schemes? Some old and some new but every compliance professional should study them.
  • How and why did Fresenius let the conduct go on for so long.
  • How was the company able to garner a NPA?
  • How did the company obtain its 40% discount for its fine and penalties?
  • Why was a monitor required?
  • What are the lessons learned from this enforcement action?

To take a deeper dive into the Fresenius FCPA enforcement action, check out Mike Volkov’s three-part series on his blog site, Corruption, Crime and Compliance. You can also check out my multi-part series on the FCPA Compliance Report.

Categories
Daily Compliance News

Daily Compliance News: April 5, 2019-the I feel very much loved edition

APRIL 5, 2019 BY TOM FOX


In today’s edition of Daily Compliance News:

Categories
Everything Compliance

Everything Compliance-Episode 44, the April is Here edition

Welcome to the only roundtable podcast in compliance. Today, in Episode 44 Tom Fox sits in for Mike Volkov, who is on assignment.

  1. Jonathan Armstrong discusses a recent presentation he saw by the OECD on some of the key and current numbers on the global fight against bribery and corruption. Jonathan shouts out to Nicola Howard QC for her work on DPAs in the UK and the British Airways for its pizza delivery service from London to Lagos.
  1. Matt Kelly details the recent SEC whistleblower award to two individuals of $50MM. There were multiple claimants and the award detailed what the SEC values in terms of information. He also discusses the award in the context of the Trump administration’s attempt to gut the SEC whistleblower program. Matt rants on the unqualified Trump nominee for the Fed, Stephen Moore.
  1. Jay Rosen talks about how the #MeToo continues to resonate in Hollywood as yet another studio executive is forced to resign. This time the scandal is not about power over another but about the conflicts which arise when some in a relationship uses his power to promote his paramour over others. It is also about how the studio internal investigations continue to clear the studio execs of any wrongdoing. Jay shouts out to Matt Kelly for attending the SCCE Regional event in Boston.
  1. Tom Fox, sitting in for Mike Volkov discusses a compliance-based solution to help manage the opioid crisis. He shouts out to (now) former Wells Fargo CEO Tim Sloan for admitting the abysmal job he did in the wake of the fraudulent account scandal by resigning and rants on Wells Fargo which cannot seem to move beyond the scandal.

The members of the Everything Compliance panelist are:

  • Jay Rosen– Jay is Vice President, Business Development Corporate Monitoring at Affiliated Monitors. Rosen can be reached at JRosen@affiliatedmonitors.com
  • Mike Volkov– One of the top FCPA commentators and practitioners around and the Chief Executive Officer of The Volkov Law Group, LLC. Volkov can be reached at mvolkov@volkovlawgroup.com.
  • Matt Kelly– Founder and CEO of Radical Compliance. Kelly can be reached at mkelly@radicalcompliance.com
  • Jonathan Armstrong– Rounding out the panel is our UK colleague, who is an experienced lawyer with Cordery in London. Armstrong can be reached at armstrong@corderycompliance.com

The host and producer (and sometime panelist) of Everything Compliance is Tom Fox the Compliance Evangelist. Everything Compliance is a part of the Compliance Podcast Network.
For additional reading and listening check out the follow additional resources:
Matt Kelly’s blog post, $50 Million SEC Whistleblower Award  in Radical Compliance.
Tom Fox, has two blog posts on a Compliance Response to the Opioid Crisis(Part 1 and Part 2) in the FCPA Compliance and Ethics Blog. Also listen to his podcast recording with the person who came up with the solution, Jesse Caplan, on a special podcast series Emerging Issues in Healthcare Compliance (Part I and Part II), on the Compliance Podcast Network.
Jay Rosen’s article Haven’t We Seen This Film Before on Corporate Compliance Insights.
OECD report underlying the presentation discussed by Jonathan Armstrong entitled, “OECD Strategic Approach to COMBATING CORRUPTION AND PROMOTING INTEGRITY”. It is available for no charge.