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FCPA Compliance Report

Tom Fox has practiced law in Houston for 30 years and now brings you the FCPA Compliance and Ethics Report. Learn the latest in anti-corruption and anti-bribery compliance and international transaction issues, as well as business solutions to compliance problems.
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Now displaying: Category: compliance commentary
Sep 22, 2017

Jay and I return for a wide-ranging discussion on some of the top compliance and ethics related stories, including: 

  1. Telia settles massive FCPA enforcement action. See reports by Dick Cassin the FCPA Blog, here and here. The Telia resolution documents include SEC Cease and Desist Order, SEC Press Release, DOJ Information, DOJ Press Release and DOJ DPA. The Coscom settlement documents include the DOJ Information and Plea Agreement.
  2. New concerns about money laundering in Venezuela for US commercial entities. See article in the FCPA Blog.
  3. Airbus Launches Internal Probe Into Unexplained Payment. See article by David Pegg and Rob Evans in The Guardian.
  4. ENI releases new information about allegations of bribery and corruption in Africa. See article by Jaclyn Jaeger in Compliance Week.
  5. Compliance Week Editor Bill Coffin interviews Hui Chen. See Bill’s article in Compliance Week.
  6. More details on the FCPA probe of Uber. David Ingram reports in Reuters.
  7. Astros clinch the AL west.
  8. Burner phones, Ole Miss recruiting scandal and compliance. Tom explores in Compliance Lessons from Burner Phones.
  9. This month’s podcast series on One Month to a More Effective Compliance Program is in full production. In September, I am reviewing innovations for your compliance program. This week’s topics include superforecasting in your compliance program, OODA feedback loop, real-time v. right-time monitoring in your compliance program, improvisation in compliance and putting compliance at the center of business strategy. Oversight Systems is this month’s sponsor. It is available on the FCPA Compliance Report, iTunes, Libsyn, YouTube and JDSupra.
  10. The Jay Rosen weekend report preview.
Sep 21, 2017

The top compliance roundtable podcast is back with a wealth of new topics. 

  1. Matt Kelly has a discussion on the current state of the SEC and what he sees for changes by SEC Chairman Jay Clayton. 

For Matt Kelly’s posts on SEC and Chairman Clayton, see the following: 

SEC Chair Clayton Talks Compliance Costs

Framing the Arguments Over SOX Compliance

The Private Market Stresses Driving SOX Compliance Debate

 2. Mike Volkov considers the intersection of anti-corruption compliance and anti-trust compliance in connection with the role of the Chief Compliance Officer. 

For Mike Volkov’s post on the intersections on anti-corruption and anti-trust compliance, see the following:

 

Chief Compliance Officers Have to Address Criminal Antitrust Risks

Focusing Antitrust Compliance Programs on the Real Criminal Risks

 The members of the Everything Compliance panel include:

  • Jay Rosen– Jay is Vice President, Business Development Corporate Monitoring at Affiliated Monitors. Rosen can be reached at JRosen@affiliatedmonitors.com
  • 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 mvolkov@volkovlawgroup.com.
  • Matt Kelly – Founder and CEO of Radical Compliance, is the former Editor of Compliance Week. Kelly can be reached at mkelly@radicalcompliance.com
  • Jonathan Armstrong – Rounding out the panel is our UK colleague, who is an experienced lawyer with Cordery in London. Armstrong can be reached at armstrong@corderycompliance.com
Sep 20, 2017

In this episode, Matt Kelly returns to his journalism roots with a live report from TEC 2017, the Workiva user conference. We discuss some of the hot topics at the conference including possible repeal or modification of SOX sections 404 and 302. We consider how internal controls around financial reporting intersect with compliance internal controls and how SOX reporting has elevated effective compliance internal controls as required under the FCPA. We also discuss document and information security and the concept of a single source of truth. We take a deep dive into the subject in the areas of audit trails for documentation in an FCPA investigation and in the upcoming SEC requirements around CEO Pay Ratio Reporting.

For more insights, see Matt’s blog post SOX Compliance: Do Better Than a ‘C’ Grade

Sep 18, 2017

To my mind the most significant and important book that every Chief Compliance Officer (CCO), General Counsel (GC) and compliance practitioner needs to read is The Chickenshit Club by Pulitzer Prize winning author Jesse Eisinger. It puts together for the first time, the story and timeline of how the Justice Department (DOJ) devolved from the group of prosecutors who convicted felons from the late 90s and early 00s financial scandal such as Enron and WorldCom, to the group which did not even bother to attempt to prosecute high ranking executives after the 2008 financial meltdown.

In this episode, I interview with book author, Jesse Eisinger and Paul Pelletier, a key source for the book. The interview is fascinating and I urge you to take a listen for both the substance and the interplay between Eisinger and Pelletier. We discuss the genesis of the book, what happened between Enron and 2008 which led to no prosecutions and conclude with both Eisinger and Pelletier's proposals to get the DOJ back on track as the nation's trial lawyers. 

For the Everything Compliance podcast recording reviewing The Chickenshit Club, click here.

Finally and most importantly, to purchase a copy of The Chickenshit Club, click here.

Sep 14, 2017

The top compliance roundtable podcast is back with a wealth of new topics. Stayed tuned to the end where there are some great rants in this edition. 

  1. Jonathan Armstrong considers the UK government’s response to GDPR. Jonathan rants about idiots on social media. 

For the Cordery Compliance client alert and podcast on the topic see the following: 

UK Government publishes GDPR intentions

 GDPR Intentions with New Criminal Offenses Published by UK Government

Jay Rosen brings a detailed discussion of voluntary monitoring and contrasts it with the ISO 37001 standard. Jay rants on the Patriots lose in their season opener. 

For Jay Rosen’s posts see the following: 

Mayweather, Jr. vs. McGregor; Balboa vs. Creed and ISO-37001 vs. Voluntary Monitoring

The members of the Everything Compliance panel include:

  • Jay Rosen– Jay is Vice President, Business Development Corporate Monitoring at Affiliated Monitors. Rosen can be reached at JRosen@affiliatedmonitors.com
  • 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 mvolkov@volkovlawgroup.com.
  • Matt Kelly – Founder and CEO of Radical Compliance, is the former Editor of Compliance Week. Kelly can be reached at mkelly@radicalcompliance.com
  • Jonathan Armstrong – Rounding out the panel is our UK colleague, who is an experienced lawyer with Cordery in London. Armstrong can be reached at armstrong@corderycompliance.com
Sep 12, 2017

In this episode, Roy Snell and I have a wide ranging discussion on the SCCE's Compliance and Ethics Institute. Roy reviews its history and how it became the largest annual event for the compliance professional. He talks about some of the highlights over the years and hits on some of the highlights for the 2017 event. 

You can find out more information on the event at the SCCE website, by clicking here

Sep 8, 2017

After a two week absence, Jay and I return for a wide-ranging discussion on some of the top compliance and ethics related stories which happened while we were off, including: 

  1. Retired U.S. Army colonel, Joseph Baptiste was caught in a FCPA sting. Sam Rubenfeld reports in the WSJ Risk and Compliance Journal. Richard Bistrong writes that the Baptiste arrest was unlike the Gun Sting case, where he was a cooperating witness. See his blog post in the FCPA Blog.
  2. Andy Spalding asks if the DOJ could make the Pilot Program even better? See his article in the FCPA Blog.
  3. New York banker Mahmoud Thiam jailed for seven years for laundering bribes from Chinese companies. See article by Dick Cassin the FCPA Blog.
  4. Wells Fargo’s woes grow even worse. See Joe Mont’s article in Compliance Week.
  5. Mike Volkov has a two-part series on the intersection of anti-corruption compliance and anti-trust compliance. For Part I, click here. For Part II, click here.
  6. Bill Steinman writes about why we fight graft and corruption in the FCPA Blog.
  7. Compliance Week explores the pro and con arguments of SEC no admission settlements. For the pro side see post by Brad Karp and Susanna Buergel of Paul Weiss. For the con side see post by Judge Jed Rakoff.
  8. SFO wants great powers to fight money-laundering. See article by Suzy Ring in Bloomberg.
  9. Not surprisingly, Uber is under investigation for possible FCPA violations. See article in the WSJ.
  10. Tom interviews Adam Turteltaub about the upcoming SCCE 2017 Compliance and Ethics Institute. See podcast and for registration information click here.
  11. What are the compliance lessons from Hurricane Harvey? Tom explored in Hurricane Harvey-Reflections on Being Prepared and Practicing Compliance. Jaclyn Jaeger discusses Corporate Philanthropy at it Finest in Compliance Week. Matt Kelly explored these themes in a blog post on Radical Compliance. Finally Tom and Matt explored these themes and more in podcast in Compliance into the Weeds.
  12. Yet another Boston sports team caught cheating, as the Red Sox steal signs from the hated Yankees via an AppleWatch. See article in the New York Times.
  13. This month’s podcast series on One Month to a More Effective Compliance Program is in full production. In September, I am reviewing innovations for your compliance program. This week’s topics include how to set a strategic plan for innovation in your compliance program, Artificial Intelligence as a compliance advantage, how to find patterns in raked leaves and ComTech. Oversight Systems is this month’s sponsor. It is available on the FCPA Compliance Report, iTunes, Libsyn, YouTube and JDSupra.
Sep 6, 2017

In this episode, Matt Kelly and I take a deep dive into the good, bad and ugly of Hurricane Harvey for the compliance professional. We discuss what lessons may be drawn from the storm and its aftermath for the greater compliance, ERM and business communities and the need to take a much greater holistic approach to the consideration of your risk management strategy. We end with some thoughts on the travails of Salt Lake City nurse Alex Wubbels who was arrested for obeying the law in refusing to take blood from an unconscious patient.  We consider her plight from the compliance perspective. 

For more on Hurricane Harvey and its aftermath see the following:

Matt Kelly’s piece Corporate Ethics, and Glitches, in Houston

Tom Fox’s pieces

 Hurricane Harvey - Reflections on Being Prepared

How Weather Can Bring Analytical Clarity to Compliance

How the Storms of “The Scottish Play” Inform Your Compliance Program

Holmes, the Fog of London and Root Cause Analysis

Practicing Compliance

For Matt’s piece on the arrest of Nurse Wubbels, click here.

Sep 5, 2017

In this episode, I visit with Adam Turteltaub, Vice President of Strategic Initiatives and International Programs. We discuss the upcoming 2017 Compliance and Ethics Institute, which is one of the primary education and networking event for professionals working in the Compliance and Ethics profession across all industries around the world. Sessions at the 2017 conference will offer the latest compliance information on hot topics and current events. Sessions are carefully selected and will be presented by leading experts who will explore real-world compliance issues, practical application, emerging trends, and state of the art techniques. 

The CEI conference and compliance training is great for everyone in the compliance and ethics field including: Compliance Auditors, Compliance Directors, Compliance Management, Compliance Officers, Risk Managers, International Compliance, Financial Compliance, Corporate Business Ethics, Ethics Officers, Ethics Management, Compliance Lawyers, HR Management, and Human Resource Risk. 

Adam and I discuss the tracks for breakout sessions and events, the pre-and post conference events and sessions you wish consider and the volunteer opportunities that are available. If you attend only one compliance and ethics event for the year, this is one for you. You can find out more information at the SCCE homepage, by clicking here.

Aug 23, 2017

In this episode, Matt Kelly and I take a deep dive into the Public Accounting Oversight Board (PCAOB). We consider the role of the PCAOB in both audit standards and internal controls for compliance. What is goodwill, goodwill impairment and how goodwill can be manipulated to create pots of money to pay bribes? We explore the question of whether there the need for a fresh look at SOX 404? We discuss the role of skepticism by auditors. We end with the forthcoming new auditor report format— the SEC is scheduled to approve that new standard regarding a new auditor report format soon and some people want the SEC to veto it. We discuss how new SEC Chair Jay Clayton may handle this by approving it by having a new PCAOB in place which takes a gentler approach to implementation.

For more information on the PCAOB, see Matt’s blog post PCAOB Overhaul Looms

For more on the intersection of compliance, audit and the PCAOB, see Tom’s four-part series with Joe Howell:

PCAOB, audits and compliance-Part I;

PCAOB, audits and compliance-Part II;

PCAOB, audits and compliance-Part III;

PCAOB, audits and compliance-Part IV;

Aug 21, 2017

In this episode, I visit with Mike Skopets, from Miller & Chevalier on the firm’s Summer 2017 FCPA Report. We discuss the background to the Report and begin with what macro trends the firm identified. We discuss the numbers of resolutions, declinations and investigations and what they might demonstrate. We go into the Linde Gas and CDM Smith declinations with disgorgement and what these two superior decisions portend for the compliance practitioner. We consider the Kokesh decision by the US Supreme Court and what it may mean for not only FCPA enforcement but the compliance professionals decision making calculus for self-disclosure. It is a very interesting wrap up of the first six months of the FCPA world in 2017. 

Miller & Chevalier’s Summer 2017 FCPA Report is available at no cost on the firm’s website. You can obtain a copy by clicking here.

Aug 18, 2017

Jay and I return for a wide-ranging discussion on some of the week’s top compliance and ethics related stories, including:

  1. The SEC charges KPMG and partner with blown oil and gas company audit. See Dick Cassin’s blog post in the FCPA Blog.
  2. BSRG raises its head again as company chief Beny Steinmetz was detained in Israel. See article in the FCPA Blog.
  3. What should be the response of the compliance community to the events in Charlottesville and the administration’s response. Tom and Matt Kelly explored in this week’s edition of Compliance into the Weeds. See Matt Kelly’s blog post, Trump Tests Corporate America’s Values. See Tom’s blog post Time For Compliance to Take a Stand. Finally for a perspective from the compliance profession, see the statement from the Ethics and Compliance Initiative entitled, To the Members and Stakeholders of the ECI Community
  4. Jeff Kaplan considers whether lawyers can be whistleblowers. See Jeff’s article in the Conflict of Interest blog.
  5. Can you do any business in Iran? A new treasury ruling complicates the matter (think Catch 22). Sam Rubenfeld reports in the WSJ Risk and Compliance Journal.
  6. Roy Snell reflects on 20 years in the compliance profession in an interview with Ben DiPietro in the WSJ Risk and Compliance Journal.
  7. This month’s podcast series on One Month to a More Compliance Program is in full production. In August I am reviewing how to have greater continuous improvement in your compliance program. This week’s topics include voluntary monitoring, keeping track of current events, the Desktop Risk Assessment, using big data and controls testing. Affiliated Monitors is this month’s sponsor. It is available on the FCPA Compliance Report, iTunes, Libsyn, YouTube and JDSupra.
Aug 11, 2017

Jay and I return for a wide-ranging discussion on some of the week’s top compliance and ethics related stories, including: 

  1. The Mattis Memo on ethics. See Tom’s blog post on why this Memo is so significant for the compliance practitioner. Also check out Matt Kelly’s blog post on Radical Compliance
  2. More Data Security Compliance on EU Horizon. See article Mara Lemos Stein’s article in Risk and Compliance Journal in the WSJ.
  3. One of the great musicians of the 20th century died this week, Glen Campbell. Tom pays tribute in a moving blog post.
  4. Matt Kelly explores the intersection of FCPA and non-GAAP financial reporting. See Matt’s article in Radical Compliance.
  5. Jay asks if FCPA defenses counsel are becoming to whiny, based upon an article in GIR (sub req’d) by Jenner & Block lawyers, David Bitkower and Nicholas Barnaby and associate Marguerite Moeller entitled, “DOJ must beware unintended consequences, as multilateral settlements rise
  6. Everything Compliance, Episode 16 is out. It is our first book review episode. We consider Jesse Eisinger’s book the Chickenshit Club. It is available on the FCPA Compliance Report, iTunes, Libsyn, YouTube and JDSupra. Eisinger and key book source Paul Pelletier have agreed to come on the FCPA Compliance Report to discuss the book next month.
  7. This month’s podcast series on One Month to a More Compliance Program has premiered. In August I review how to have greater continuous improvement in your compliance program. Affiliated Monitors is this month’s sponsor. It is available on the FCPA Compliance Report, iTunes, Libsyn, YouTube and JDSupra.
  8. Tom surpasses 2000 blog posts. See his blog post on surpassing 2000 blogs posts here.
  9. Jay discusses his Weekend Report, And you may ask yourself, well How did I get here?
Aug 10, 2017

In this episode, the Everything Compliance trio of Matt Kelly, Jay Rosen and Tom Fox unpack our first book review. We consider the recently released The Chickenshit Club by Jesse Eisenger and it may mean for the compliance practitioner. We consider the internal journey of the Department of Justice from their days of Enron, WorldCom and Adelphia convictions to the 2008 financial crisis where no senior executives were prosecuted. It was a series of steps which led to this change and we discuss the key changes in the DoJ's thinking. The book is a real page turner and our discussion reflects this. We believe that every compliance practitioner should read the book and understand its lessons from DOJ prosecution.

Every compliance practitioner should read Eisinger's book The Chickenshit Club.

You can purchase a copy of the book The Chickenshit Club by clicking here.

Aug 5, 2017

Show Notes for This Week in FCPA-Episode 64, for the week ending August 4, the 10 Year Anniversary Edition

In this special Saturday edition, Jay and I return for a wide-ranging discussion on some of the week’s top compliance and ethics related stories, including:

 Net 1 UEPS Technologies, Inc. obtains a full declination. Yet the company went through the investigation after being turned in by a competitor. Bryan Cave attorneys Mark Srere and Kristin Robinson explore in their article FCPA Investigations – Competitors Dropping the Dime.

  1. OFAC brings an enforcement action against a non-US company. See article in the FCPA Blog.
  2. Financial health as an indicia for third parties and corruption. See Tom’s article What is the Financial Health of Your Third Parties.
  3. MasterCard uses a Richard Bistrong video in its compliance training. See article by Sam Rubenfeld in WSJ.
  4. After 10 years, the FCPA Blog is still dancing. See Dick Cassin’s article in the FCPA Blog.
  5. Across the Board premiers. In this new podcast, I explore issues relating to the Board of Directors, risk management and corporate governance. In Episode 1, Richard Lummis and I consider the role of the Uber Board of Directors in the company’s struggles. It is available on the FCPA Compliance Report, iTunes, Libsyn, YouTube and JDSupra.
  6. This month’s podcast series on One Month to a More Effective Compliance program has premiered. In August I review how to have greater continuous improvement in your compliance program. Affiliated Monitors is this month’s sponsor. It is available on the FCPA Compliance Report, iTunes, Libsyn, YouTube and JDSupra.
  7. Jay reports on the state of compliance in Mexico and Panama.
  8. Jay discusses his latest piece for the SCCE Magazine, How compliance can be a business advantage

 

Aug 2, 2017

In this episode, Matt Kelly and I explore last week’s announcement by the Securities and Exchange Commission (SEC) of the resolution of its outstanding Foreign Corrupt Practices Act (FCPA) enforcement action with Halliburton Company continues to resonate and provide lessons for the compliance practitioner. We consider the enforcement action around the issue of internal controls, their effectiveness (or lack thereof) and management over-ride of internal controls.

For more information, see my blog posts:

Lessons in Failures of Internal Controls; and 

Halliburton Resolves FCPA Enforcement Action

Jul 28, 2017

This week, Jay and I return for a wide-ranging discussion on some of the week’s top compliance and ethics related stories, including: 

  1. Halliburton settles long standing FCPA enforcement action. See SEC Cease and Desist Order. Also see SEC Press Release.
  2. US authorities end five-year foreign bribery investigation into IBM. See article by Sam Rubenfeld in WSJ Risk and Compliance Journal.
  3. DOJ closes FCPA probe of Newton Mining without action. See article by Sam Rubenfeld in WSJ Risk and Compliance Journal.
  4. Navex releases its 2017 Ethics & Compliance Training Benchmark Report. See article by Ben DiPietro in WSJ.
  5. DOJ finally conviction in FCPA case. See Dick Cassin’s article in the FCPA Blog.
  6. Everything Compliance-Episode 15 is out. Topics include The right to be forgotten in the EU; Big data and compliance-the EU regulators wrap anti-trust issues into data privacy; a wrap up for the 6 years since the Bribery Act came into existence; and the troubling inclination of UK regulators to engage in burden shifting in anti-bribery cases; Jesse Eisinger’s book, The Chickenshit Club; with the lack of US leadership, will other countries ramp up anti-corruption enforcement?
  1. Want to increase your visibility in the greater compliance community? Consider writing for the FCPA Blog. To see how, see this article by Dick Cassin by clicking here.
  2. June Foray, the voice of Rocket J. Squirrel died this week. See NYT obit.
  3. Jose Altuve hits over .500 for the month of July. See article by Jared Diamond in WSJ.
  4. Jay previews his weekend report, Don't let your E&C skills lapse over the summer.
Jul 27, 2017

We take things a different way in this episode as the commentators throw out five topics for consideration by the group. Last week we had topics from Jay and Matt; this week from Jonathan and Tom. 

Topics from Jonathan:

  1. The right to be forgotten in the EU;
  1. Big data and compliance-the EU regulators wrap anti-trust issues into data privacy;
  1. A wrap up for the 6 years since the Bribery Act came into existence; and
  1. The troubling inclination of UK regulators to engage in burden shifting in anti-bribery cases.

Topics from Tom:

  1. In view of Trump’s abysmal performance at the G-20, will other countries ramp up anti-corruption enforcement?
  1. Will the new book by Jesse Eisinger The Chickenshit Club make any difference? 
  1. Three months ago the SFO appeared to be in trouble. Now it is leading the anti-corruption charge. Tying into Q1 above, will we see more aggressive enforcement out of the UK?
  1. Now that compliance has become inculcated into the business process of most energy companies, with the attendant benefits, will there a pull back on the business side of things. 
  1. Can a new comer really win the AL? What does the panel see in the second half of the season?

The top commentators in compliance are back for another episode of Everything Compliance.

Jul 26, 2017

In this episode, Matt Kelly and I take a deep dive into the Dodd-Frank and Sarbanes-Oxley reform initiatives in the House of Representatives and as articulated by incoming SEC Chairman Jay Clayton. Will the new administration gut SOX and Dodd-Frank compliance requirements?For more see Matt Kelly's blog post SEC Chair Clayton Talks Compliance Costs.

 

Jul 24, 2017

In this episode I visit with James Koukios, a partner at Morrison and Foerster on the firm’s newsletter, Top Ten International Anti-Corruption Developments for May 2017. Our topics include: 

  1. FCPA Assistant Chief BJ Stieglitz has been selected for detail to UK Financial Enforcement Authorities. We discuss how does a prosecutor work overseas, what this might mean for prosecutions going forward both in the US and UK and what is the relationship of the DOJ with its British counterparts?
  2. The DOJ has moved to terminate its DPA over Hewlett-Packard. We discuss what it means to have a DPA terminated and what is the role of the DOJ in this phase? We also consider what is the decision-making process if a DPA has to be extended due to continued or new conduct by a company under such an agreement.
  3. Finally, we consider some of the difficulties of some of the DOJ’s Challenges in Obtaining Foreign Evidence, through a recent ruling in Civil Forfeiture Case. On May 9, 2017, In the case of United States v. Prevezon Holdings Ltd., Southern District of New York Judge William H. Pauley III, ruled that certain evidence obtained by prosecutors from foreign sources was admissible in a civil asset forfeiture case, notwithstanding that the documents lacked the requisite certifications under the Federal Rules of Evidence. We consider the process for getting information from overseas; why it takes so long, what happens if it does not meet US evidentiary or even admissibility standards? 

To see a full copy of the firm’s publication, Top Ten International Anti-Corruption Developments for May 2017, click here.

Jul 21, 2017

This week, Jay and I return for a wide-ranging discussion on some of the week’s top compliance and ethics related stories, including: 

  1. Will Canada approve DPAs for use in anti-corruption prosecutions? TI-Canada recommends they come into use. See article in Corporate Compliance by clicking here. Also see interview with RCMP Superintendent Denis Desnoyers in GIR.
  2. Midyear FCPA enforcement report by Stanford Law Journal. See article in WSJ.
  3. The first half of 2017 has brought the final resolutions of only two FCPA matters from the new administration, but they were both declinations. Both declinations have significantly strengthened the FCPA Pilot Program as a clear path forward for every company that finds itself in FCPA hot water. See Tom’s article in Compliance Week.
  4. Are Mexican anti-corruption efforts moving forward or not. See pro see article entitled, New Mexican Anti-Corruption Law Enters into Force Global Compliance News. For con see article by Juan Montes Mexican Antigraft Efforts Falter, in WSJ.
  5. With the departure of Walter Shaub from the US Office of Governmental Ethics and Hui Chen as the Compliance Counsel, who will lead the US ethics and compliance efforts. See Jaclyn Jaeger’s article in the Compliance Week.
  6. Everything Compliance-Episode 14 is out. Topics include Walter Shaub’s departure from OGE and does it even matter? Jesse Eisinger’s book The Chickenshit Club; the SFO, UK Bribery Act and the Rolls-Royce enforcement action; differences in DPA practice in the US & UK; Trump Administration & FCPA enforcement; EU’s GDPR; and Hui Chen’s departure from Justice Department; both her public rebuke of Trump, and the substance of how she believes her guidance has been mis-interpreted. Episode 15 will go up on July 27.
  7. Former Haitian Telco exec pleads guilty, Dick Cassin reports in the FCPA Blog. Dmitrij Harder jailed five years for FCPA offenses. See article by Dick Cassin the FCPA Blog.
  8. The twins are back home from summer camp. What does it mean for the Rosen household?
  9. Jay previews his weekend report.
Jul 20, 2017

Show Notes for Everything Compliance-Episode 14

 

Topics from Matt:

  1. Trump Administration & FCPA enforcement— we have two declinations now; maybe a compare-and-contrast, and speculation on what a tough Trump Admin enforcement WOULD look like;
  1. EU’s GDPR— Do EU regulators really know what they want to do with enforcement of this law; although if they follow the lead of the anti-competition people whacking Google, it could be a big deal; 
  1. Hui Chen’s departure from Justice Department; both her public rebuke of Trump, and the substance of how she believes her guidance has been mis-interpreted; and
  1. Ethical leadership and the lack thereof; the menace of abusing perks and privilege, connecting my posts about Uber’s leaders and Chris Christie vacationing on a closed beach.

Topics from Jay:

  1. How do the Campaign Finance Laws mirror/or differ from the FCPA?
  1. Will the Russian Collusion Investigation reveal the ultimate FCPA violation?
  1. Regarding Walter Shaub’s departure from Office of Governmental Ethics (OGE), does it matter? What is OGE supposed to do and why did it work for the past 40+ years, but fell on deaf ears with the Trump administration?
  1. Dovetailing with Matt’s question about a slow H1 for FCPA enforcement and in light of the just released Gibson Dunn FCPA Mid-Year Report, does the current climate (and lack of vigorous enforcement) provide a perfect storm for companies to look the other way if they fall off the E&C wagon, or do we think that companies are still being vigilant in spite of a perception of decreased enforcement?

Rants are at the end of this week’s episode.

Jul 19, 2017

In this episode, Matt Kelly and I discuss the recent Second Circuit Court of Appeals decision in HSBC v. Moore. In this case a federal district court had ordered the release of redacted monitor’s report in the HSBC money-laundering Deferred Prosecution Agreement (DPA), based upon the request of an interested citizen. Both the Department of Justice (DOJ) and HSBC appealed the order and the Court of Appeals supported their position in overturning the trial court’s decision. The case is about a hook, line and sinker overturning of any trial court jurisdiction as one can have. The district court tried to claim it did not have the same role as a “potted plant” but the Court of Appeals left no doubt that is the only role it sees for any district court where a DPA is filed. We discuss the implications for the compliance practitioner, FCPA enforcement and any potential changes going forward. 

For additional reading, see my blog post on this case by clicking here.

Jul 15, 2017

This week, Jay and I return for a wide-ranging discussion on some of the week’s top compliance and ethics related stories, including:

  1. HSBC monitor report protected from release. See article in Reuters by clicking here.
  2. The Odebrecht scandal continues to resonate across South America. See Dick Cassin’s post in the FCPA Blog.
  3. The first half of 2017 has brought the final resolutions of only two FCPA matters from the new administration, but they were both declinations. Both declinations have significantly strengthened the FCPA Pilot Program as a clear path forward for every company that finds itself in FCPA hot water. See Tom’s article in Compliance Week.
  4. Roy Snell says it’s not who’s who but who gets it. See article in SCCE Compliance and Ethics Blog.
  5. Tom announces the rollout of the Compliance Podcast Network. It includes This Week in FCPA, FCPA Compliance Report, Compliance Report-International Edition, 12 O’Clock High, Unfair and Unbalanced, Compliance into the Weeds, Across the Board, Everything Compliance, One Month to a More Effective Compliance Program. See Tom’s article in the FCPA Compliance and Ethics Blog.
  6. The next Everything Compliance podcast is in production. Topics include Walter Shaub’s departure from OGE and does it even matter? Jesse Eisinger’s book The Chickenshit Club; the SFO, UK Bribery Act and the Rolls-Royce enforcement action; differences in DPA practice in the US & UK; Trump Administration & FCPA enforcement; EU’s GDPR; and Hui Chen’s departure from Justice Department; both her public rebuke of Trump, and the substance of how she believes her guidance has been mis-interpreted. Part I will go up on Thursday, July 20.
Jul 11, 2017

In this episode, Matt Kelly and I take a deep dive into the 4th of July weekend use of the New Jersey beaches by Governor Chris Christie. Governor Christie had closed the beaches in a budget dispute but was still able, as Governor, to give himself and his family full access to the now wide open beaches on the recently passes holiday weekend. We consider Governor Christie’s example of undeserved privilege in the context of ethical leadership and tone at the top. Matt draws upon his Catholic school education to remind us that undeserved privilege is private law, as “privilege” comes from the Latin privus, private law; and lex, law. It’s a private law that benefits only one person, who doesn’t deserve it. 

Read more about the issue and Matt’s thoughts on his blog post Tone at the Top Gone Wrong: The Christie Example.

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