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 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.
Tag: SFO
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:
- Succession (in real life). (NYT)
- Fired SFO investigator wins wrongful termination suit. (MLex)
- Meta fined €1.2 billion by EU over GDPR violations (Cordery Compliance)
- Court decision unsealed in whistleblower decision. (Bloomberg Law)
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 Include:
- Clarence Thomas and corruption at Supreme Court. (Politico)
- Customers want less products made in China. (FT)
- Cognizant Tech former execs challenge investigation. (Reuters)
- SFO pushes on charging Glencore traders. (Bloomberg)
What happens when two top compliance commentators get together? They talk compliance, of course. Join Kristy Grant-Hart and Tom Fox for their new podcast, 2 Gurus Talk Compliance! But it is not simply Kristy and Tom talking about compliance. In this podcast series, Kristy and Tom also review other top commentators in compliance. In this podcast, we discuss the recent jail time for a Wells Fargo executive, the UK government’s plan to enforcement of anti-corruption and AML violations, due diligence before acquiring a company, and the recent charges against the co-founder of FTX. They also touch on the shift towards valuing a healthier relationship with work and the potential of the Metaverse in the compliance industry. Tune in to hear Tom and Kristy break down the latest compliance news and provide valuable insight into the industry that will keep you ahead of the curve.
Highlights Include
· Corporate Ethics and Compliance
· The Wells Fargo Scandal and Criminal Accountability
· Uncertainty surrounding CCO certification
· UK Government’s Fight Against Corporate Crimes
· COVID and the Future of Work
· The Importance of Due Diligence in Acquisitions
· Move into the compliance profession
· Indictment of Samuel Bankman Fried
Notable Quotes
1. “If you buy a company engaging in bribery corruption, you’re not responsible for that. But when you take title and ownership, they are not engaging in broader corruption. It is you are engaging in broader corruption.”
2. “I just think that flat banning of CHAT GPD is taking away hugely useful business tools to the Italian business sector.”
3. “It is incredibly rare for a bank officer to be held criminally accountable.
4. I think we’ll start to see that now move from becoming an extraordinary practice to a best practice to a regular practice to table stakes.
Resources
2. Why have workers given up the office
4. Getting your first job in compliance
5. SBF and the FCPA
6. Carrie Tolstedt pleads guilty
7. UK to invest in economic crime enforcement
8. What is happening to the Metaverse
9. Flutter settles FCPA enforcement action
Connect with Kristy Grant-Hart on LinkedIn
Connect with Tom Fox on Linkedin
What happens when two top compliance commentators get together? They talk compliance of course. Join Kristy Grant-Hart and Tom Fox for their new podcast, 2 Gurus Talk Compliance! But it is not simply Kristy and Tom talking compliance. In this podcast series Kristy and Tom review other top commentators in compliance as well. In this podcast, we will consider all things compliance, corporate ethics, ESG, governance, and whatever else is on our minds and the minds of other experts in the field. Kristy and Tom explore all of these topics with expertise and wit.
2 Gurus Talk Compliance will include a deep dive into the latest headlines, as well as ask hard hitting questions and provide valuable insights on the current happenings of the world. Don’t miss out this week, as Tom and Kristy look at how the new DOJ pilot program and update to the evaluation of corporate compliance program guidance will affect dailiness operations.
Highlights Include
· Moral hazard for DOJ/Compliance
· Global Corporate Governance Trends for 2023
· Assessment of Monaco/Polite Speeches and new ECCP
· Compliance in the Metaverse
· Five hard leadership bills to swallow.
· Former Blue Bell CEO Pleads Guilty
· $9 Million Cow Manure Ponzi Scheme
· Lessons Learned from Ericsson’s DPA Breach
· Serious Fraud Office Abandons Prosecution
· 2023 Evaluation of Corporate Compliance Programs
Notable Quotes
1. “The effect on the economy is much more severe than I would have ever thought. The market tanked, basically, for 3 days. And of course, the market runs on perceptions. Pretty much like bank runs run on per perceptions.”
2. “We had some assets disappear over the weekend. We’ve had the federal government come in at backstop that amount, full amount, not just limited to the 250000 per person or entity that the FDIC ensures I think banking regulations will probably change forever because of this event.”
3. “A couple of weeks ago, we had 2 major speeches by deputy attorney general Lisa Monaco and Kenneth Polite, at the ABA white collar conference that were followed by the release of an updated 2023 version of the Evaluation of Corporate Compliance Programs, a new policy regarding monitors as well, and the announcement of a pilot program.”
Resources
- Moral hazard for DOJ/Compliance
- Global Corporate Governance Trends for 2023
- Assessment of Monaco/Polite Speeches and new ECCP
- Compliance in the Metaverse
- Five hard leadership bills to swallow
- Former Blue Bell CEO Pleads Guilty to Misdemeanor Over Listeria Outbreak
- Central Valley Man Pleads Guilty to Nearly $9 Million Cow Manure Ponzi Scheme
- Lessons Learned from Ericsson’s DPA Breach: An Internal Investigation Nightmare
- U.K. Serious Fraud Office Abandons Prosecution of Former G4S Executives
- DOJ Announces Major Changes To Corporate Compliance Program Evaluation
Connect with Kristy Grant-Hart on LinkedIn
Connect with Tom Fox on Linkedin
Welcome to the award-winning FCPA Compliance Report, the longest-running podcast in compliance. In this episode, I am joined by Sam Tate, a partner at RPC. Sam co-authors the leading UK anti-corruption compliance textbook “Bribery: a Compliance Handbook.” He works closely with several FTSE 100, international, and privately owned entities and individuals concerning financial crime proceedings, investigations, and practical crime prevention programs. He recently led the settlement on the ground-breaking 11th and 12th UK DPA’s and conducted the independent investigation for the Financial Times of allegations made by Wirecard against its reporters.
In this episode, they discuss the proposed Economic Crime and Corporate Transparency Bill and how it could majorly affect companies not based in the U.K. The bill includes verification for all new and existing registered companies, directors, and persons and provisions making it easier for the National Crime Agency. Sam Tate predicts this will result in more focused prosecutions than Deferred Prosecution Agreements, although it should make settlements easier. This collaboration between the UK and the U.S. will be a lasting legacy of our time.
Key Highlights
Economic Crime Legislation in the UK [00:04:49]
The Potential Impact of a New U.S. Bill on Global Businesses [00:08:40]
The Cost of Increased Business Regulation [00:12:24]
Sharing Information and Improving Access between Regulated Entities and the National Crime Agency [00:16:34]
The Impact of US-UK Relationships on Prosecutions and Deferred Prosecution Agreements [00:20:49]
The Challenges of Settling Issues in the UK [00:24:36]
Notable Quotes
1. “So if you have a fraud offense, then a corporate doing probably doing any business in the UK, or having a presence in the business in the UK so that it could be one in the US, it could be one anywhere in the world, anywhere in the world with presence business in the UK, would be corporately criminally liable if it failed to prevent fraud unless it had a series of adequate procedures in place to prevent that.”
2. “It’s something we call the ‘guidance in mind’ test. They are the brains of the company, and they’ve got to be involved for the corporates to be criminally live criminally liable.”
3. “Bribery is defined in our legislation as offering something with the intention of causing another person to perform their duties improperly. Fraud takes a few forms; worth essentially is a deceit of one kind or another, sometimes with the abuse of trust or over opposition to trust.”
4. “It’s not entirely clear what that is because we haven’t had a ton of cases. But it’s a registered office, a large part of your business, or even a smaller part of your business, a trading arm, perhaps doing your accounts here. Probably something a little bit more than trading on the UK stock exchange, but not much more is enough to have a part of your business in the UK.”
Episode Links
Bribery: a Compliance Handbook
Connect with Tom Fox on LinkedIn
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 of Daily Compliance News:
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 of Daily Compliance News:
- Why international anti-corruption enforcement needs to up their game. (FT)
- Corruption is trouble in paradise. (The Guardian)
- The bribery is ‘not fraud’ defense. (Reuters)
- Zoom President fired ‘without cause.’ (BBC)
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 of Daily Compliance News:
In today’s edition of Daily Compliance News:
- FTX files for bankruptcy. (NYT)
- SFO Director to step down. (WSJ)
- From Musk to bankruptcy in how many days? (Reuters)
- Corruption in tennis. (San Diego Union)
