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)
Tag: SEC
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)
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)
In today’s edition of Daily Compliance News:
- SW Airlines not told of deactivated safety feature on Boeing 737 Max. (Wall Street Journal)
- Sexual harassment claims hit the energy industry. (I’m shocked) (Wall Street Journal)
- Welcome to my Tweet-Up, as Musk/SEC settlement twitter imbroglio. (Wall Street Journal)
- Power, corruption and duplicity in Alabama over a superfund site. (Washington Post)
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.
- 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.
- Does your company lack integrity? Mike Volkov gives 5 signs which show it does, on Corruption, Crime and Compliance.
- 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.
- What is the intersection of DD and AI? Merritt Smith considers in the FCPA Blog.
- OFAC enforcement action demonstrates need for pre-acquisition due diligence? Lawyers from Paul, Weiss in the NYU Compliance and Enforcement Blog.
- What is ethical AI? Tom Austin explores on the Analyst Syndicate.
- What are the shifting reasons for FCPA enforcement? Kevin Keller on the Global Anti-corruption Blog.
- What are the risks to investors in Uber? Shannon Bond reports in the Financial Times. (sub req’d)
- 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.
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.
APRIL 5, 2019 BY TOM FOX
In today’s edition of Daily Compliance News:
- Judge gives SEC and Musk 2 weeks to settle their differences. (New York Times)
- 3 drug companies settle FCA claims for $122MM. (Wall Street Journal)
- 7 key considerations for M&A site visits. (Merrill blog)
- Top 10 most interesting expense reimbursement claims. (Corporate Compliance Insights)
Welcome to the only roundtable podcast in compliance. Today, in Episode 44 Tom Fox sits in for Mike Volkov, who is on assignment.
- 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.
- 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.
- 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.
- 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.
As Opening Day near and the Astros are predicted to unseat Jay’s Red Sox to win the 2019 World Series, both lads are eternally hopeful for their hometown heroes. While debating this issue, they also take a look at some of this week’s top compliance and ethics stories which caught their collective eyes this week.
- Former Hong Kong official sentenced for FCPA violations. Harry Cassin reports in the FCPA Blog. Matthew Goldstein reports on how to reduce your FCPA sentence in the New York Times.
- SEC awards two whistleblowers $50MM. Kristin Broughton in the WSJ Risk and Compliance Journal. Matt Kelly takes a deep dive in Radical Compliance. Doug Cornelius gets snarky in Compliance Building. Jonathan Marks weighs in on Board and Fraud.
- Jonathan Ruschand William Weaver debate whether corruption can be measured. Both on the FCPA Blog.
- Was it fraud or was it incompetency? The HP v. Autonomy civil trial begins in London. The BBC
- What is the difference in whistleblowing and extortion? Joe Mont explains in Compliance Week. (sub req’d)
- What are your supply chain risks? Russ Berland explores in Part 1 of a two-part blog post series on Corporate Compliance Insights.
- Looking at enforcement of financial market crimes in Canada and UK. Anita Anand reports in NYU’s Compliance and Enforcement Blog.
- What steps can you take to reduce whistleblower retaliation? Matt Kelly opines in Navex Global’s Ethics and Compliance Matters
- OECD slams Canadian government for interfering in SNC-Lavalin corruption investigation. Jonathan Rausch reports in Dipping Through Geometries.
- Join Tom and AMI’s Jesse Caplan for a 5-part exploration of emerging issues in healthcare compliance and monitoring. Check out the following: Part 1-Opioid Crisis-Legal issue; Part 2– Opioid Crisis-compliance solution; Part 3– the regulators; Part 4-the monitoring healthcare organizations; and Part 5-proactive monitoring. The podcast is available on multiple sites: the FCPA Compliance Report, iTunes, JDSupra, Panoplyand YouTube. The Compliance Podcast Network is now also on Spotifyand Corporate Compliance Insights.
- In Houston on April 11? Join the Greater Houston Business and Ethics Roundtable for a presentation for one year look back on GDPR. Registration and information are here.
- Check out the latest edition of Great Women in Compliance where Mary Shirley visits with Marianne Ibrahim.
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.
MARCH 27, 2019 BY TOM FOX
In today’s edition of Daily Compliance News:
- Former Autonomy CEO goes to trial in UK. (The Register)
- Want credit in FCPA sentencing? Engage in random acts of kindness while in jail. (New York Times)
- SEC pays whistleblowers $50MM. (FCPA Blog)
- Stormy Daniels lawyer charged with attempted extortion. (Wall Street Journal)
