Compliance into the Weeds

By Tom FoxBusiness News Business News Management

Compliance into the Weeds episodes

October 07, 2020The JPMorgan Fine and Penalty
Compliance into the Weeds is the only weekly podcast which takes a deep dive into a compliance related topic, literally going into the weeds to more fully explore a subject. In this episode Matt and Tom go into the weeds to look at the recent fine of $920 million against JPMorgan for spoofing. Some of the issues we consider are:
What is spoofing?
How did the CFTC use data analytics to build their case?
What does that mean for compliance professionals?
How did the JPMorgan remediation of its compliance function reduce ?
Once again, the DOJ demonstrates that robust remediation will pay great dividends in the form of a significant penalty reduction.
Resources
See Matt’s blog posts on Radical Compliance-JPMorgan’s Compliance Benefit
See also, David Michaels piece in the Wall Street Journal, JPMorgan’s Probe Revived by Regulators Data Mining

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22 min
September 30, 2020What are the compliance issues from WFH collaboration tools?
Compliance into the Weeds is the only weekly podcast which takes a deep dive into a compliance related topic, literally going into the weeds to more fully explore a subject. In this episode Matt and Tom go into the weeds to look at some of the compliance issues that collaboration tools raise in the WFH era. Some of the issues we consider are:
How do you assess the risks of collaboration tools?
Does it matter only to regulated industries or all commercial operations?
What can compliance do to manage the risk?
When is training a better risk management tool than internal controls?
Do you know your archiving status?
Resources
See Matt’s blog posts on Radical Compliance-Compliance Risks and Collaboration Tools

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19 min
September 23, 2020Compliance into the Weeds: When is Diversity Training Anti-American Propaganda/the FinCen Files?
Compliance into the Weeds is the only weekly podcast which takes a deep dive into a compliance related topic, literally going into the weeds to more fully explore a subject. In this episode Matt and Tom go into the weeds to look at the recent initiative of the Department of Education to go after Princeton University for diversity training which Trump says is “Anti-American propaganda” and the release of the FinCen papers. Some of the issues we consider are:
What is the Trump Administration up to?
Will white nationalism be the order of the day if Trump wins?
Why does impact compliance professionals?
What are the FinCen papers?
Why was their release so devastating to the Administration?
Resources
See Matt’s blog posts on Radical Compliance
Boom: The FinCen Files are Here
Trump Administration Targets Princeton for Diversity

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23 min
September 16, 2020Herbalife FCPA Enforcement Action
Compliance into the Weeds is the only weekly podcast which takes a deep dive into a compliance related topic, literally going into the weeds to more fully explore a subject. In this episode Matt and Tom go into the weeds to look the recently announced Herbalife FCPA enforcement action. Some of the issues we consider are:
Why were the facts so egregious?
How high up in the organization did the corruption scheme go?
Why was the Board’s performance so abysmal?
Was the head of Internal Audit in on the bribery scheme?
What was the role of short-sellers in bringing this massive fraud to light?
Resources
See Matt’s blog posts on Radical Compliance
Herbalife Pays $123M on FCPA Charges
See Tom’s 3-part blog post series on the FCPA Compliance and Ethics Blog
The Herbalife FCPA Enforcement Action, Part 1
The Herbalife FCPA Enforcement Action, Part 2
The Herbalife FCPA Enforcement Action, Part 3

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23 min
September 09, 2020 FinCen DD Pronouncements-Did they Hurt More than Help?
Compliance into the Weeds is the only weekly podcast which takes a deep dive into a compliance related topic, literally going into the weeds to more fully explore a subject. In this episode Matt and Tom go into the weeds to look at two recent pronouncements by FinCen on customer and PEP due diligence. We ask the question: Is the Guidance so vague as to actually hurt the efforts of a compliance practitioner.
Resources
See Matt’s blog posts on Radical Compliance
Regulators Talk PEPs and Due Diligence
FinCen Gives Guidance, Says Little

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16 min
August 26, 2020DFS First Cyber Case-First American Title
Compliance into the Weeds is the only weekly podcast which takes a deep dive into a compliance related topic, literally going into the weeds to more fully explore a subject. In this episode Matt and Tom go into the weeds to look at the first Cybersecurity breach case brought by the state of New York’s Department of Financial Services.
Some of the highlights include:
What is the DFS?
What is Reg 500, Cyber Rules?
What were the First American comedy of errors?
CISO disavowed ownership of the issue, stating, among other reasons, that such controls were not the responsibility of respondent’s information security department.
No training for new employee charged with remediation.
First American said it did nothing wrong.
Resources
See Matt’s blog post, Parsing DFS’ First Cybersecurity Case on Radical Compliance.

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29 min
August 19, 2020Governance Lessons from the Postal Service
Compliance into the Weeds is the only weekly podcast which takes a deep dive into a compliance related topic, literally going into the weeds to more fully explore a subject. In this episode Matt comes in smoking hot over the Trump Administration’s attempted evisceration of the US Postal Service. He cools down to present multiple lessons for the compliance professional.
Some of the highlights include:
What is the controversy?
What happens when the CEO has a conflict of interest with his own organization?
What happens when business objectives conflict with business priorities?
How the amplification of social media can create undue pressures.
Resources
See Matt’s blog post, Governance Lessons from the Postal Service on Radical Compliance.

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20 min
August 12, 2020Wells WAC-O Spending
Compliance into the Weeds is the only weekly podcast which takes a deep dive into a compliance related topic, literally going into the weeds to more fully explore a subject. In this episode Matt Kelly and Tom Fox consider the $20+ billion spend by Wells Fargo for its various regulatory fines and penalties, investigative and remediation costs since the initial announcement of its fraudulent accounts scandal back in 2016.
Some of the highlights include:
How can you spend over $1bn on compliance remediation in one quarter?
Just how bad was the Wells Fargo culture?
Can the bank ever get it right?
How much is a functioning corporate culture worth?
Resources
See Matt’s blog post, Wells Fargo’s Staggering Compliance Costs on Radical Compliance.

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27 min
August 05, 2020Vindman and Whistleblowers
Compliance into the Weeds is the only weekly podcast which takes a deep dive into a compliance related topic, literally going into the weeds to more fully explore a subject. In this episode Matt Kelly and Tom Fox take a look at an Op-Ed piece penned by Alexander Vindman in the Washington Post where detailed his experiences as a whistleblower in the Trump White House.
Some of the highlights include:
What is the psychology for a whistleblower?
What is the role of senior management in a speak up culture?
What is the role of a CCO after a whistleblower speaks up?
What are the ethical values of a whistleblower?
Resources
See Matt’s blog post, A Must Read on Whistleblower Retaliation on Radical Compliance.

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20 min
July 29, 2020Compliance Conference Economics 101
Compliance into the Weeds is the only weekly podcast which takes a deep dive into a compliance related topic, literally going into the weeds to more fully explore a subject. In this episode Matt Kelly and Tom Fox take a look the economics of compliance conferences. Who will be the winners and losers with conferences going virtual through the rest of 2020 and beyond?
Some of the highlights include:
Compliance conference economic basics.
How does this change in the age of virtual events?
What about compliance conferences that do not need to make money?
What are the differences in live and virtual conferences and do those differences make a difference in the experience?
Resources
See Matt’s blog post, SCCE Conference Going Virtual on Radical Compliance.

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17 min

About Compliance into the Weeds

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What happens when two compliance aficionados get together to talk all things compliance, risk management and ERM? You get Tom Fox, the Voice of Compliance and Matt Kelly, the Coolest Guy in…