Mike and Brent were honored guests on the FCPA Compliance Report podcast with their podfather, Tom Fox, the Voice of Compliance and founder of the Compliance Podcast Network. They discuss the concept of “secondary tariffs” recently threatened by the U.S. as to Russia’s trading partners (00:44), what would such secondary tariffs as to Russia mean, and for whom (03:21), how multinational companies should start thinking through the impact of these potential tariffs (04:37), the need to be very, very, very careful about schemes that seem too good to be true (because they are) (06:03), how risk-based compliance can help multinationals evaluate proposed reconfigurations of procurement flows (09:36), where self-certifications by suppliers might not be sufficient (10:22), and then conclude with a deep dive into what False Claims Act enforcement for tariff evasion might look like and how to mitigate enforcement risks by understanding and leveraging the False Claims Act’s “knowledge” element (13:52).
Join Tom Fox as he explores the world of podcasting, and get ready to be inspired to start your podcast. Last time, we had Rory Paquette, host of several podcasts, including The Podcaster Nation and The Power of Man. Today, Rory interviews Tom about his experiences in podcasting. This podcast first appeared on The Podcast Nation.
Tom shares his journey from practicing law to becoming a prominent figure in the field of legal and regulatory compliance podcasting. He discusses the creation and growth of his Compliance Podcast Network, his unique strategy of integrating compliance lessons into diverse topics like Star Trek and Sherlock Holmes, and how he effectively monetizes his content. Tom also highlights the importance of social media assets and offers insightful advice for indie podcasters. Listeners will gain valuable insights into niche podcasting, content creation, and monetization strategies.
Key highlights:
Introducing Tom Fox: The Voice of Compliance
Monetizing Compliance Podcasts
The Power of Social Media Assets
Innovative Podcast Ideas and Network Expansion
The Birth of the Texas Hill Country Podcast Network
Join Tom Fox and hundreds of other GRC professionals in the city that never sleeps, New York City, on July 9 & 10 for one of the top conferences around, #Risk New York. The current US landscape, shaped by evolving policies, rapid advancements in AI, and shifting global dynamics, demands adaptive strategies and cross-functional collaboration.
At #RISK New York, you will master the New Regulatory Reality by getting ahead of US regulatory shifts and their impact. Conquer AI and Tech Risk by Safeguarding Your Organization in an AI-Driven World and Understanding the Implications of Major Tech Investments. Navigate Financial and Crypto Volatility by Protecting Your Assets and Exploring Solutions in a Dynamic Market. Strengthen Your GRC Framework by Leveraging Governance, Risk, and Compliance for Strategic Advantage. Protect Digital Trust by addressing challenges in cybersecurity and data privacy and combating misinformation. All while meeting with the country’s top #Risk management professionals.
In this episode of the Risk New York podcast series, Tom Fox introduces the upcoming Risk New York Conference, scheduled for July 9-10 at Fordham Law School. The conference, hosted by GRC World Forums, will focus on various aspects of risk management, including AI, tech risk, financial and crypto risk, and GRC frameworks. Tom discusses his keynote based on his book ‘Upping the Game’ and highlights key speakers and exhibitors, including Robert Clark from Howard University, Bill Coffin and Erica Alburn from Ecosphere, and Michael Rasmussen, known as the father of GRC. The episode highlights the importance of the conference and provides details on discounted tickets, as well as other information available in the show notes.
Welcome to the SBR-Authors Podcast! In this podcast series, host Tom Fox visits with authors in the compliance arena and beyond. Today, the tables are turned as Caitlyn Tobey and Ellen Hunt from The Seven Elements Compliance Book Club host Tom to talk about his most recent book, Upping Your Game.
They explore how AI and machine learning can transform compliance operations, turning them into strategic business functions. He discusses the operationalization of compliance, the importance of integrating ethics into business practices, and the role of AI in enhancing the effectiveness of compliance. Notable examples, such as Wells Fargo’s use of AI in compliance and the concept of compliance by design, demonstrate how technology can facilitate more efficient business processes and foster a proactive compliance culture.
This episode discusses the recent executive order signed by US President Donald J. Trump instructing the Department of Justice to halt enforcement of the decades-old, much-dreaded Foreign Corrupt Practices Act (FCPA) pending a one-year review. In our initial “Regulatory Ramblings Spotlight” segment, we speak with Philip Rohlik, an American attorney in mainland China with the law firm Debevoise & Plimpton, to get a sense of what the president’s decision means for Hong Kong and the broader Asia-Pacific.
Following that, we have a longer chat on the global implications of President Trump’s move with Tom Fox, a veteran compliance and anti-corruption lawyer, noted FCPA specialist, and podcaster, and Malcolm Nance, a former US naval intelligence officer, counterterrorism specialist, and author.
Philip Rohlik
Philip Rohlik is counsel in Debevoise & Plimpton LLP’s Shanghai office. He is a member of the firm’s White Collar & Regulatory Defense and International Dispute Resolution Groups, and his practice focuses on international investigations, securities law, and dispute resolution. He is recognized by “The Legal 500 Asia Pacific—Greater China” (2024-2025) for his anti-corruption and compliance practice and has been described as “very thorough, “hands-on,” and “excellent investigation lawyer.”
Based in Asia since 2011, Philip leads the firm’s dispute resolution team in Shanghai. He joined Debevoise in 2000, having received his J.D. Magna Cumlaude from the New York University School of Law that same year. He received a B.A. Summa Cum Laude with honors from St. Louis University in 1997.
Tom Fox
Tom Fox is based in West Texas and is a prominent member of the compliance community and one of the most well-known legal practitioners regarding the FCPA. Over the past 15 years, he has been a general counsel and chief compliance officer. He is now an independent consultant, assisting companies with anti-corruption, anti-bribery compliance, and international transaction issues.
He is also the author of the award-winning FCPA Compliance and Ethics Blog and the international best-selling book Lessons Learned on Compliance and Ethics. His podcasts have won numerous W3, Davey, Communicator, and Webby awards for podcasting excellence.
Tom is the author of the seminal text “The Compliance Handbook,” now in its 5th edition published by LexisNexis. In addition to his blog and podcast, he is a columnist for “Corporate Compliance Insights” and a contributing editor to the “FCPA Blog.” He is a well-known and frequent speaker on compliance and ethics issues, social media use, and corporate leadership.
Malcolm Nance
Malcolm Nance is based in upstate New York. He is a 20-year veteran of the US Navy, where he was an intelligence officer, cryptographer, and Russian and Arab language specialist. As a master chief, he was responsible for discipline throughout the ranks.
He is best known for his appearances on MSNBC, where he warned about Russian interference in the run-up to the 2016 and 2020 US Presidential elections. Malcolm is also a best-selling author, with his books “The Plot to Hack America,” “The Plot to Destroy Democracy,” “The Plot to Betray America,” and most recently “They Want to Kill Americans,” all of which are well worth reading. Given the radical actions of the second Trump administration, his two most recent books seem eerily prescient. You can discover more from Malcolm at his Substack and his “Black Man Spy” podcast on YouTube.
Discussion:
Three weeks after returning to the White House, US President Donald Trump signed an executive order on February 10 directing the Justice Department to pause prosecutions of Americans accused of bribing foreign government officials while trying to win or retain business in their countries.
Trump’s order pauses enforcement of the nearly half-century-old Foreign Corrupt Practices Act (FCPA) and directs Attorney General Pam Bondi to review current and past actions related to the law and prepare new guidelines for enforcement.
The law, enacted in 1977, prohibits companies that operate in the United States from bribing foreign officials. Over time, it has become a guiding force for how American businesses operate overseas.
“It’s going to mean a lot more business for America,” Trump told reporters while signing the order in the Oval Office at the signing.
Interestingly enough, Trump wanted to strike down the FCPA during his first term in office, calling it a “horrible law” and claiming it made the US the subject of the world’s ridicule and derision.
Anti-corruption watchdog Transparency International said the FCPA made the US a world leader in addressing corruption.
Trump’s executive order “minimizes—and could pave the way for eliminating—the crown jewel in the U.S.’s fight against global corruption,” Gary Kalman, executive director of Transparency International US, said in a statement.
The White House factsheet said that in 2024, the Justice Department and the Securities Exchange Commission filed 26 FCPA-related enforcement actions, and by year-end, at least 31 companies were under investigation.
In the initial segment, Philip Rohlik chats with “Regulatory Ramblings” host Ajay Shamdasani about what the Trump administration’s actions will mean for the fight against bribery and corruption in Hong Kong, Greater China, and APAC writ large. They discuss the possibility that with less FCPA enforcement, the UK Bribery Act (2010) might fill the void to some extent, while acknowledging that the British Serious Fraud Office lacks the resources of the USDOJ to make extraterritorial enforcement a reality.
Philip also shares his advice on what he would tell compliance officers and in-house/general counsel at banking or financial institutions or major corporations in Hong Kong, Singapore, or Beijing. Hint: Now is not the time to relax.
We then turn to the longer conversation portion of the broadcast, where we examine some of the more global, macro-level effects of President Trump’s recent executive order.
Tom and Malcolm shared their visceral responses when they first heard the announcement that the administration would halt FCPA enforcement. Tom asks why Trump took so long because he had raised similar concerns during his first term (2017-21).
They share their concerns about what it will mean for the global fight against bribery and corruption while acknowledging the limitations of the UK Bribery Act. Still, mainland China’s anti-corruption legislation is worth considering as well.
The conversation concludes with Malcolm and Tom advising the legal and compliance professionals serving financial firms and multinational corporations in Asia, the Middle East, and the world more generally. They concur that now is not the time to slack off regarding anti-graft efforts.
They conclude that the FCPA is still a powerful tool. Given the current president’s vindictive and transactional nature, we might expect selective enforcement of the Act under his administration. Indeed, given past experience, it might be inevitable.
Regulatory Ramblings podcasts is brought to you by The University of Hong Kong – Reg/Tech Lab, HKU-SCF Fintech Academy, Asia Global Institute, and HKU-edX Professional Certificate in Fintech, with support from the HKU Faculty of Law.
Welcome to the Kerrville Weekly News Roundup. Each week, veteran podcaster Tom Fox and his colleagues Andrew Gay and Gilbert Paiz get together to go over a couple of their favorite stories from the past week from Kerrville and the greater Hill Country. Sit back, enjoy a cup of morning coffee, and listen in to get a wrap-up of the Kerrville Weekly News. We each consider two of our favorite stories and talk about the upcoming weekend’s events, which we will enjoy or participate in this weekend.
In this episode, Tom takes a solo turn to examine some of the stories that caught his attention over the past week.
Stories include:
City of Kerrville Economic Development position
Rehab department at Peterson
New KDT column on aging
WWII vet who fought in D-Day and at Bastogne speaks at Notre Dame
Welcome to Charged Up Studio’s latest podcast episode, where we explore innovation and elevation in product development. This month, we continue focusing on taking the Digital Leap: Navigating the Future of Business Transformation.
Tom Fox, CEO and host of the Compliance Podcast Network joined Danna Olivo, host of the Charged Up Studio Podcast, for this episode. Tom Fox is a trailblazer in the podcasting realm, particularly in the niche of compliance and ethics. Through his innovative approach, he has provided a platform for thought leaders to share their expertise and paved the way for monetization within the podcasting landscape.
Stay tuned in to find out some of the lessons learned and tips Tom has to offer on launching and growing a podcast network. Here’s what you can expect to learn:
The Power of Podcasting | Why has it emerged as one of the most powerful mediums for communication and engagement in the digital age?
Navigating the Compliance Podcast Network | The inception and evolution of this pioneering platform that caters to professionals in compliance, ethics, and corporate governance.
Monetizing Your Podcast | Learn the strategies and tactics for monetizing your podcast effectively.
Building a Sustainable Podcasting Business | What are the essential ingredients for a sustainable podcasting business model?
Future Trends and Opportunities | Gain foresight into the future trends and emerging opportunities within the podcasting industry.
Whether you are a seasoned podcaster looking to enhance your monetization strategies or a newcomer eager to unlock the full potential of podcasting for profit, this episode is a must-listen. Join us as we embark on a journey of discovery and empowerment in podcasting with Tom Fox at Charged Up Studio.
For inquiries or to connect with Tom, reach out through the links below.
In this episode of the Podfest Expo 2024 Speaker Preview Podcasts series, I discuss my presentation on a Rural Podcast Network at the Podfest Expo. Some of the issues I tackle in this podcast are:
The Rural Podcast Network – A new monetization model.
Why am I excited to attend the 10th anniversary of the Podfest Expo?
Why you should attend PodfestExpo 2024.
I’m hoping you’ll be able to join me at Podfest Expo 2024, which Podfest Global is hosting. This year’s event will be the 10th anniversary and will be held January 25–28, 2024, at the Wyndham in Orlando, Florida. The line-up of this year’s event is simply first-rate, with some of the top names in podcasting.
Podfest Expo is a community of people interested in and passionate about sharing their voice and message with the world through the powerful mediums of audio and video. We’re proud to unite as many people as possible to learn, get inspired, and grow better together.
PodfestExpo is so much more than just a mere conference. While we pride ourselves on featuring the most engaging speakers, exciting topics, and in-depth content, the thing that sets the PodfestExpo event apart from all others is the tight-knit community we’ve been building since 2013. You don’t just attend a Podfest event – you become part of the Podfest family.
Whether you’re new to podcasting or a veteran podcaster looking to innovate and improve your podcast, our easy-to-understand Conference Topics allow you to customize a daily agenda based on what you’re most interested in learning. No matter your skill level or experience, PodfestExpo 2024 has plenty to offer!
I hope you can join me at the event. For information on the event, click here. As an extra benefit to listeners of this podcast, Podfest Expo is offering a discount on the registration price. Enter the discount code, Listener.
Podfest Expo 2024 is a production of Podfest Global, which sponsors this podcast series.
My guest today is literally the guy who wrote the book on compliance, “The Compliance Handbook, 4th edition,” published by LexisNexis in 2023.
He has authored 28 other books on business leadership, compliance ethics, and corporate governance, including international best-sellers and an award-winning series, “Fox on Compliance.”
He leads the social media discussion on compliance with his award-winning blog and is the Voice of Compliance, having founded the award-winning Compliance Podcast Network.
Welcome to Authors Over 50, Tom Fox.
2022 saw higher numbers of FCPA enforcement actions, settlements, and criminal prosecutions of individuals. One of the most important developments was the update of policy in the Monaco Doctrine, which was elaborated on in the Monaco Memo, providing important guidance for compliance professionals. Tom Fox joins Michael Volkov to discuss some of the more interesting cases from the past year.
Tom Fox is hailed as the Voice of Compliance, serving and evangelizing for the compliance community for over 15 years. He is the founder and creator of the Compliance Podcast Network where he hosts various podcasts, such as Innovation In Compliance and the ESG Report, and the Executive Leader at the C-Suite Network.
Some ideas you’ll hear them explore are:
The DOJ is getting better at communicating with the compliance community through resolution documents like DPA, NPA, and, occasionally, declinations. These documents provide insight into the DOJ’s thinking and approach to cases, which compliance professionals can use to gain a better understanding of how to approach compliance issues.
In Tom’s upcoming book, “FCPA Year in Review 2022,” he highlights the KT Corp bribery case, which went back to the basics in its old-school rendition of corruption: bags of cash money. The lesson here is that bribery can be as simple as a $50 slipped into a handshake.
In the curious case of Glencore, the FCPA enforcement action taken against them reflects the DOJ’s focus on defective cultures within companies. This case involved multiple enforcement agencies across multiple countries and multiple bribery schemes, rounding up fines and penalties totalling up to $1.1 billion, with $700M for FCPA violations, and $441M for price and market manipulation. Glencore had a culture that was committed to profit at any cost, and the company paid over $100M to third parties knowing that some of the money would be used to bribe officials in various countries.
The Oracle case involving bribery and corruption involving gifts, travel, and entertainment should serve as a reminder to companies to review their gift, travel, and entertainment policies and ensure they are aware of how their business officials are spending their travel, per diem, and entertainment money.
Avoid hiring third-parties recommended by or at the direction of a state-owned official or executive.
The Lisa Monaco memorandum emphasizes the need for effective compliance programs and the benefits of voluntary disclosure, full cooperation, and timely and appropriate remediation.
KEY QUOTE
“Internal controls are not simply due diligence, distributors, et cetera. It goes down to your payments, schemes and how you pay your vendors should all be a part of your internal controls.” – Tom Fox
Philip Rohlik is counsel in Debevoise & Plimpton LLP’s Shanghai office. He is a member of the firm’s White Collar & Regulatory Defense and International Dispute Resolution Groups, and his practice focuses on international investigations, securities law, and dispute resolution. He is recognized by “The Legal 500 Asia Pacific—Greater China” (2024-2025) for his anti-corruption and compliance practice and has been described as “very thorough, “hands-on,” and “excellent investigation lawyer.”
Tom Fox is based in West Texas and is a prominent member of the compliance community and one of the most well-known legal practitioners regarding the FCPA. Over the past 15 years, he has been a general counsel and chief compliance officer. He is now an independent consultant, assisting companies with anti-corruption, anti-bribery compliance, and international transaction issues.
Malcolm Nance is based in upstate New York. He is a 20-year veteran of the US Navy, where he was an intelligence officer, cryptographer, and Russian and Arab language specialist. As a master chief, he was responsible for discipline throughout the ranks.
