APRIL 5, 2019 BY TOM FOX

In today’s edition of Daily Compliance News:

·      Judge gives SEC and Musk 14 days 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)

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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 #MeToocontinues 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 [email protected]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 [email protected].Matt Kelly– Founder and CEO of Radical Compliance. Kelly can be reached at [email protected]Jonathan Armstrong– Rounding out the panel is our UK colleague, who is an experienced lawyer with Cordery in London. Armstrong can be reached at [email protected] 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.

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APRIL 4, 2019 BY TOM FOX

In today’s edition of Daily Compliance News:

·      Wynn Casinos said to have hidden claims against Steve Wynn. (New York Times)·      Is your airline watching you? (New York Times)·       Hertz goes after former execs for restatement costs. (Compliance Week)·       Texas senate passes Bigot Law. (Houston Chronicle)

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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 (the coolest guy in compliance) and I take a deep dive into resignation of now former Wells Fargo CEO Tim Sloan. We use his departure as a starting point to discuss some of the issues which continue to bedevil the organization some three years after the original fraudulent accounts scandal broke. Some of the highlights include: Ø Another tough Congressional hearing, another Wells Fargo CEO resigns. Ø Why can’t Wells Fargo turn around its culture?Ø Should an outsider (IE., non-long term Wells Fargo employee be brought in to right the ship?Ø What is the difference in high-performing and high-pressure organizations?Ø Why does Wells Fargo continue to resist whistleblower retaliation claims?Ø Does Wells Fargo treat its customers as it treats its employees?Ø What draconian sanctions are the OCC and Fed considering?Ø What can Wells Fargo do to actually change its culture? If you are in Houston on Friday, please plan to attend the South Texas College of Law 2019 Symposium on Compliance in international Corporate Legal Practices – Legal Development and the Talent Needs of the Future. Information and registration details available here.

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In today’s edition of Daily Compliance News:

·      Trial of ex-Malaysian PM Najib Razak to begin. (The Guardian)·      Shocked, just shocked to find out drug company pushed opioids. (NPR)·       Former Colombia official convicted of bribing government officials on behalf of Odebrecht. (Colombia Reports)·       UK’s Financial Reporting Council will examine KPMG. (Wall Street Journal) 

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 In this episode I visit with Amy Edmondson about her upcoming keynote speech at IMPACT2019, entitled “The Fearless Organization: Creating Psychological Safety for Learning, Innovation, and Growth”. Some of the highlights from the podcast include: 1.    Beginning in the 1990s Edmondson began research how organizations are made better by creating safe spaces for employees to speak up.2.    Why listening is the key trait for every leader. 3.    Your organization can have stretch goals but you must have open ears.4.    How failure to listen to employees who speak up can cause business losses.5.    Information on why you should attend ECI’s IMPACT2019.

 Resources: Amy Edmondson LinkedInprofileRegistration and Information on IMPACT2019 here.  

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In today’s edition of Daily Compliance News:

·      Is it illegal to do business with corrupt governments? (New York Times)·      Does PG&E really want a judge running its business? (Hint-no). (Wall Street Journal)·       Mark Zuckerberg asks for more regulation. (Wall Street Journal)·       Anti-Corruption lawyer elected PM of Slovakia? (Financial Times)

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On this episode of the Modern Medium Podcast, we are exploring barriers: might artists inadvertently create these barriers to their art? And how does this affect its experience?

Barriers

Barriers can be anything: a blind person who can’t see the art, or someone with a learning disability who might not understand the art in the way that it was intended. But they can still experience art in other ways that you might not expect, and so in this way, art can be accessible to anybody. It’s just a matter of creating that space.

On communicating

Art is not always going to be clearly communicated across all platforms. It might offend. It might cause stress or tension. And that’s part of the learning process as both artist and viewer: each of our experiences are different, and so the ways in which we access art will naturally be different too. As artists, we can’t control how people will react, so a big thing is keeping your art true to yourself.

Being true to yourself

Trying to communicate what’s inside of you is in itself a barrier: it’s going to reach some people and not others. There might be backlash. As an artist, it’s a balancing act of staying true to yourself and the art that you practice, but keeping in mind that not everybody will be able to access it. By virtue of understanding that, artists can grow and change their art — but it’s important not to censor it.

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In today’s edition of Daily Compliance News:

·      GOP congressmen threaten to kill NAFTA 2. (Washington Post)·      CBS Credit Union shut down as one employee embezzled $40MM.  (Deadline)·       Scott Moritz on why every college should now perform a root cause analysis. (Proviti)·       What does Occam’s Razor have to do with blockchain? (McKinsey White Paper)

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In this episode I visit with David Childers, the Senior Vice President at Ethics & Compliance Initiative (ECI). We discuss ECI’s High-Quality Ethics & Compliance Program (HQP) Self-Assessment Tool. Some of the highlights from the podcast include: What are the 5 Principals of a HQP? They include: Strategy, Risk Management, Culture, Speaking Up and Accountability.  

What are the 5 operational areas of an E&C program? They include:E&C is central to business strategyE&C risks are identified, owned, managed and mitigated Leaders at all levels across the organization build and sustain a culture of integrityThe organization encourages, protects and values the reporting of concerns and suspected wrongdoing The organization takes action and holds itself accountable when wrongdoing occursWhat is the design of the Self-Assessment tool? While the methodology is fairly complex, for the participant it is only 107 multiple choice questions and it takes less than 30 minutes to complete.What is it designed to measure? The HQP Assessment measures program maturity based on a combination of questions regarding 27 operating components and more than 100 program practices.

What are the four categories of reporting information for each principal? They include:(1) What to measure/review; (2) Questions to consider ; (3) Potential sources of information and (4) Leading practices illustrative of HQPs. What are the five-point scale for program maturity? Program maturity is based on five levels, which are represented on a 0-100 scale.  ·       UNDERDEVELOPED·       DEFINING·       ADAPTING·       MANAGING·       OPTIMIZINGThe HQP Assessment tool is a measure of where an organization believes their E&C program operates based on the five principles.   The assessment can be used in several ways.  We have organizations that are looking for program improvement. The assessment can be a baseline for measured improvement.   It can also be a qualification.  As we said this isn’t about a score.  In some industries, being at the managing level of maturity may be sufficient for their risk.  Most of all it is a great way to create dialog and discussion with your leadership using a definitive measure of your program. How will ECI use this information going forward? We are already seeing important trend and insights from the data. We will introduce many of these findings are our Annual Conference in Dallas, and we are developing working groups within our membership to explore some the findings to refine best practices and guidelines for program improvement. For more information on the ECI Self-Assessment Tool, go to www.ethics.org Registration and Information on IMPACT2019 here.  

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