FCPA Compliance Report

Welcome to the award-winning FCPA Compliance Report, the longest running podcast in compliance. In this special episode, I am joined by Mike Volkov, founder of the Volkov Law Group. We conclude with Part 2 looking back on the year 2022 in FCPA and Compliance. We consider the Monaco Memo, the key cases and some of the important issues which arose in 2022 and how they might impact compliance in 2023. In this episode we consider:

·      Building trust and credibility in the investigative process

·      The ABB FCPA enforcement action

·      The Honeywell FCPA enforcement action

·      Why the heat is on compliance after the Monaco Memo

·      Corporate incentives and discipline including clawbacks

·      The Glencore FCPA enforcement action and CCO Certification

Resources

Mike Volkov on LinkedIn

The Volkov Law Group

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Welcome to the award-winning FCPA Compliance Report, the longest running podcast in compliance. In this special episode, I am joined by Mike Volkov, founder of the Volkov Law Group. We begin a two-part podcast on looking back on the year 2022 in FCPA and Compliance. We consider the Monaco Memo, the key cases and some of the important issues which arose in 2022 and how they might impact compliance in 2023. In this episode we consider:

·      The Monaco Memo

·      The Stericycle FCPA enforcement action

·      The KT FCPA enforcement action

·      The upcoming trial of Cognizant executives and internal investigations

·      Key individual prosecuted

Resources

Mike Volkov on LinkedIn

The Volkov Law Group

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Welcome to the award-winning FCPA Compliance Report, the longest running podcast in compliance. In this special episode, I visit with Eric Morehead, the Director of Advisory Services at LRN. We discuss the US Sentencing Guidelines on the 30th anniversary of their enactment and review the recent report on the history of the Sentencing Guidelines. Morehead, a former staff attorney at the US Sentencing Commissions takes a look at the numbers and considers the broader impact of the Sentencing Guidelines on compliance in the US and across the globe. Some of the highlights include:

·      What are  the US Sentencing Guidelines?

·      Why were the enacted?

·      How have they been supported by the DOJ and Courts?

·      What were the two amendments to the US Sentencing Guidelines?

·      What may be down the road for the US Sentencing Guidelines? 

Resources

LRN

Eric Morehead on LinkedIn

A Deep Dive Into Organizational Sentencing Data by Eric Morehead on Law360

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Welcome to the award-winning FCPA Compliance Report, the most senior podcast in compliance. In this episode, I have double trouble as I welcome Scott Garland and Zach Hafer. They worked together for many years at the US Attorney’s Office for the District of Massachusetts, and both are now in private practice, Garland as a Managing Director at Affiliated Monitors, Inc. and Hafer as a Partner at Cooley LLP in Boston. Some of the highlights include:

In this podcast Hafer considers DOJ corporate enforcement through the mechanisms of DPAs and NPAs based upon his tenure as the Criminal Chief. They discussed the need to balance approving prosecutions for general impact vs. based on the case’s individual merits. We also consider how if at all did the Monaco Memo change DOJ focus. Garland leads us through a discussion of compliance issues within a prosecutor’s office, why your compliance philosophy is so critical and some of the biggest issues and situations they both confronted while in the US Attorney’s Office for the District of Massachusetts. We conclude this section with a discussion of receiving compliance advice: what worked and what did not.

We conclude with a discussion of transitioning from DOJ to private practice and both Zach and Scott summarize some of the key questions they are getting from clients. Garland opines on key issues he sees for monitors after Monaco Memo and we conclude with why can proactive monitoring be such a powerful tool.

 Resources

Scott Garland at Affiliated Monitors

Zach Hafer at  Cooley LLP

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Welcome to the award-winning FCPA Compliance Report, the most senior podcast in compliance. In this episode, I conclude a 2-part series on the subjects of FTX and risk. I am joined by Gilbert Paiz and Andrew Gay, principals in the Texas Hill Country Advisors. In our previous Part 1, we considered risk and risk management through the lens of US domiciled financial institutions and how their risk management protocols help to not only assess risk, but manage throughout the life cycle of a banking-customer relationship. In this Part 2, we consider individual risk in investing and what type of background information, questions and due diligence individual should engage in and how thes questions and background investigations apply equally to larger investments made by sophisticated investors, hedge funds  and institutional investors; who should have made them before investing in FTX but they all failed to do so.   Some of the highlights include: 

·      What due diligence should an individual perform?

·      What should an individual look for in financial statement?

·      Why is the physical location of businesses and where it might be incorporated such an important piece of information?

·      What are backstops, guarantees or other mechanisms to retrieve investments?

·      What Due Diligence mistakes did you see in FTX?

·      What are related party transactions and why are they problematic?

·      Why are audited financials critical?

 Resources

Texas Hill Country Advisors

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Welcome to the award-winning FCPA Compliance Report, the most senior podcast in compliance. In this episode, I begin a 2-part series on the subjects of FTX and risk. I am joined by Gilbert Paiz and Andrew Gay, principals in the Texas Hill Country Advisors. In Part 1, we consider risk and risk management through the lens of US domiciled financial institutions and how their risk management protocols help to not only assess risk, but manage risk throughout the life cycle of a banking customer relationship. In Part 2, we will consider individual risk in investing and what type of background information, questions and due diligence individual should engage in and how this questions and background investigations apply equally to larger investments made by sophisticated investors, hedge funds  and institutional investors; who should have made them before investing in FTX but they all failed to do so.  Some of the highlights include: 

·      How do banks think of risk?

·      What internal processes or controls are in place to help a bank manage its risks?

·      What types of oversight do banks and financial institutions use to help manage risk?

·      Why are levels of review so critical?

·      How do banks think about customers in terms of risk?

·      Who decides how much risk to allow a customer to engage in with a banks money, whether through loans or other capital?

·      Do bank employees receive ongoing training on risk management issues?

·      What tech is in place to facilitate the management of risk?

 Resources

Texas Hill Country Advisors

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Welcome to the award-winning FCPA Compliance Report, the longest running podcast in compliance. In this special episode, I visit with Ty Francis, the Chief Advisory Officer at LRN. We discuss the just-announced LRN acquisition of the Compliance Learning business unit from Thomson Reuters. The acquisition will further establish LRN’s position as the largest global provider of E&C program management and learning solutions serving over 2,500 companies and tens of millions of learners. It will place LRN literally across every continent, including a larger strategic presence in Asia-Pacific markets. This acquisition also enhances LRN’s capabilities and expertise in the financial services marketplace and will help accelerate several of its vertical market product strategies. Some of the highlights include:

·      How this acquisition allows LNR to bring compliance training to where a customer’s employees are located.

·      How this acquisition will facilitate data-driven compliance. 

·      Why a holistic, worldwide scope for compliance learning will be a business positive. 

·      How this acquisition will meet the continued growth in the regulatory landscape on a global basis. 

Resources

LRN

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In this episode, I take things in a different direction today as I post the recording of a webinar I recently put on for i-Sight Software Solutions. In this presentation, I detail what the Monaco Memo means your corporate investigative protocol.  Some of the highlights include: 

·      What changes did the Monaco Memo portend for corporate investigative protocols?

·      What unintended consequence did the Russian invasion of Ukraine bring to the public view of whistleblowers? 

·      Why is triage a key aspect of your investigative protocol?

·      Why should you create an investigative protocol long before an investigation becomes needed?

·      How do you create an investigative protocol to keep key decision makers in the loop?

 Resources

For a White Paper on these issues, click here.

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In this episode, I visit with Foley & Lardner partners David Simon and Mike Walsh on the disruption to the global supply chain, which I focused on in the podcast series, Never the Same. They have co-authored an article entitled,  Managing Supply Chain Disruption in an Era of Geopolitical Risk on the topic. In this Part 2 of a two-series, we continue our exploration of the current global supply chain and focus on issues relating to China.  Some of the highlights include: 

·      Why ever company should prepare for a China confrontation over Taiwan.

·      Is the UFLPA a true game changer for supply chains and compliance? 

·      What is the impact of China’s Belt and Road program? It’s debt financing?

·      Why is the global supply chain and indeed the global economy of the past 30 years now dead?

·      What steps compliance functions should take now around the global supply chain of the future.

 Resources

David Simon

Mike Walsh

Managing Supply Chain Disruption in an Era of Geopolitical Risk by Mike Walsh and David Simon

Why Supply Chain Will Never Be the Same After the Russian Invasion by Tom Fox

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In this episode, I visit with Foley & Lardner partners David Simon and Mike Walsh on the disruption to the global supply, which I explored in the podcast series, Never the Same. They have co-authored an article entitled,  Managing Supply Chain Disruption in an Era of Geopolitical Risk on the topic. In this Part 1 of a two-series, we begin to explore the topic of the events which have led to the disruption of the global supply chain and the impact on compliance functions. Some of the highlights include: 

·      What led to the disruption in the global supply chain? 

·      Will this continue for the foreseeable future?

·      Why is the global supply chain and indeed the global economy of the past 30 years or so now dead?

·      Why the impact of this supply chain disruption is greater in the EU than US.

 Resources

David Simon

Mike Walsh

Managing Supply Chain Disruption in an Era of Geopolitical Risk by Mike Walsh and David Simon

Why Supply Chain Will Never Be the Same After the Russian Invasion by Tom Fox

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