The award winning, 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. Looking for some hard-hitting insights on compliance? Look no further than Compliance into the Weeds! In this episode Tom Fox and Matt Kelly take a deep dive into the recent Securities and Exchange Commission FCPA  enforcement action involving John Deere.  The case centers on a $10 million civil penalty imposed by the SEC for bribery activities in the Thailand office of a newly acquired subsidiary, Wirtgen Group. This transgression spanned from 2017 to 2020, and despite having a code of business conduct, Wirtgen employees flouted rules by falsifying expenses, entertaining government officials at massage parlors, and engaging in a luxury sightseeing tour under the guise of a factory visit.  A critical issue was John Deere's delayed integration of Wirtgen into its compliance program, leading to internal control lapses and obvious red flags in expense reports. Although Deere has since taken significant remedial actions, including firing culpable employees and enhancing its compliance and internal audit programs, the situation underscores persistent compliance challenges even for large, sophisticated firms. This episode serves as a reminder of the essential compliance lessons from past decades that firms must steadfastly adhere to. Key Highlights ·      Details of the Bribery Scheme ·      Internal Control Violations ·      Pre and Post-Acquisition Due Diligence Issues ·      Remedial Steps and Improvements ·      Root Cause Analysis and Lessons Learned Resources Matt in Radical Compliance Tom   Instagram Facebook YouTube Twitter LinkedIn Learn more about your ad choices. Visit megaphone.fm/adchoices

The award winning, 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. Looking for some hard-hitting insights on compliance? Look no further than Compliance into the Weeds! In this episode, Tom Fox and Matt Kelly take a deep dive into the recent SEC enforcement actions against several companies for pre-taliation clauses and related illegal intent.   Our conversation discusses recent enforcement actions by the SEC sanctioned against seven companies for a total of $3 million in civil penalties. The main issue was that these contracts required employees to forfeit any right to whistleblower awards if they reported misconduct to regulators. The conversation explores the legality of these contract clauses and the chilling effect they have on potential whistleblowers. Tom and Matt also discuss the challenges of remediation and the need for a comprehensive approach to address retaliatory clauses in all types of contracts. Key Highlights SEC Enforcement Actions on Pre-Retaliation Language The Illegality of Pre-Retaliation Clauses Addressing Pre-Retaliation Clauses: Remediation Challenges Expanding the Focus: From Employment Contracts to All Contracts Resources Matt in Radical Compliance Tom   Instagram Facebook YouTube Twitter LinkedIn Check out the full 3-book series, The Compliance Kids on Amazon.com. Learn more about your ad choices. Visit megaphone.fm/adchoices

The award winning, 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. Looking for some hard-hitting insights on compliance? Look no further than Compliance into the Weeds! In this episode Tom Fox and Matt Kelly take a deep dive analyzing term-ending Supreme Court decisions from a compliance perspective.  They address the Jarkesy decision on SEC in-house tribunals, the Loper ruling overturning the Chevron deference doctrine, and the Snyder decision that narrows the scope of federal anti-corruption law. Despite the headlines, they conclude that these rulings have minimal direct impact on corporate compliance programs, emphasizing the ongoing importance of ethical integrity and effective compliance practices. Key Highlights ·      Supreme Court Cases Impacting Compliance ·      The Jarkesy Decision: Minimal Impact on Compliance ·      The Loper Case: Chevron Deference Overturned ·      The Snyder Decision: A Controversial Ruling ·      Implications and Final Thoughts Resources Matt on Radical Compliance   Tom   Instagram Facebook YouTube Twitter LinkedIn Learn more about your ad choices. Visit megaphone.fm/adchoices

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, we explore the recent CFPB circular which noted a company’s failure to implement adequate data protection measures can qualify as an unfair practice prohibited under the Consumer Financial Protection Act.  Highlights include: ·      The CFPB is going to start bringing charges against more companies for sloppy data protection programs.  ·      Three Key data protection security controls.  ·      Why CISOs and IT needs to talk to compliance. ·      The role of auditing and monitoring. ·      How and where to get started. Resources Matt in Radical Compliance Learn more about your ad choices. Visit megaphone.fm/adchoices

Compliance into the Weeds is the only weekly podcast that takes a deep dive into a compliance-related topic, literally going into the weeds to more fully explore a subject. In this episode, we explore the new requirements for CCO certification by considering what is meant by the term ‘reasonably designed’ compliance program. Highlights include: ·      What does ‘reasonably designed’ mean in practice and the eyes of the DOJ? ·      Should the DOJ articulate a standard? ·      Are CCOs certifying under greater risk? ·      What have other thought leaders opined? ·      Does this standard impact ‘effective’ compliance programs? Resources Matt in Radical Compliance Learn more about your ad choices. Visit megaphone.fm/adchoices

Compliance into the Weeds is the only weekly podcast that takes a deep dive into a compliance-related topic, literally going into the weeds to more fully explore a subject. In this episode, we deep dive into recent failures detected in the state of Wisconsin regarding cyber security risks around election integrity. Highlights include: The risks were uncovered. What is a material risk? Why Multi-Factor Authentication is important cyber security control. What are the consequences of a single point of failure? How and when should redefine a hazard? What does CISA say about MFAs? Resources Matt in Radical Compliance Learn more about your ad choices. Visit megaphone.fm/adchoices

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, we take a deep dive into the recent settlement by Biotronik with the DOJ over allegations of the violation of the Anti-Kickback Statue  Highlights include: ·      Background facts. ·      Training programs as cover for bribes. ·      What is lavish entertainment? ·      What were the internal control failures? ·      Controls for high-risk payments. ·      Lessons learned for the ABC compliance professional. Resources Tom in the FCPA Compliance and Ethics Blog Part 1-Background Part 2-the Bribery Schemes and Lessons Learned Matt in Radical Compliance Learn more about your ad choices. Visit megaphone.fm/adchoices

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, we take a deep dive into the recent story of an in-house attorney who was disbarred for fraudulent activities in creating fraudulent claims and fraudulent settlements.  Highlights include: ·      Background facts. ·      Conflicts of Interests. ·      What were the internal control failures? ·      Were they material? ·      Lessons for the compliance professional. Resources Matt in Radical Compliance Learn more about your ad choices. Visit megaphone.fm/adchoices

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, we take a deep dive into the recent New York, Department of Financial Services enforcement action against Carnival Cruise Lines for failures in its cybersecurity reporting obligations.  Highlights include: ·      Why is Carnival Cruise Lines subject to the DFS? ·      What violations occurred? ·      Why were there false certifications? ·      What were the tactical cyber security violations? ·      Were they material? ·      Lessons for the compliance professional. Resources Matt in Radical Compliance Learn more about your ad choices. Visit megaphone.fm/adchoices

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, we take a deep dive into some of the issues for compliance professionals in the wake of the Dobbs decision.  Highlights include: ·      What should compliance professional do now? ·      What are your policies and procedures? ·      Forced-birth v. women’s right states. ·      Where does you company stand? ·      Preparing for compliance challenges ahead. ·      The next wave of civil rights issues destroyed. ·      Ethical practices v. obeying state laws ·      Social media outreach. Resources Matt in Radical Compliance Tom in the FCPA Compliance and Ethics Report Learn more about your ad choices. Visit megaphone.fm/adchoices

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, we take a deep dive into some of the unintended consequences of CCO certifications as required by the Department of Justice.  Highlights include: ·      What happened to reasonable and proportional? ·      What about control override? ·      What is the purpose of compliance training? ·      What is effective compliance training? ·      Is compliance training complimentary to compliance training effectiveness? Resources Matt in Radical Compliance Learn more about your ad choices. Visit megaphone.fm/adchoices

Compliance into the Weeds is the only weekly podcast that takes a deep dive into a compliance-related topic, literally going into the weeds to more fully explore a subject. In this episode, we deep dive into some recent crazy stories involving CCOs, compliance professionals and the compliance function.  Highlights include: ·      New CCO at Facebook and the results. ·      Did Penn State CCO engage in retaliation, discrimination and harassment? ·      Is a contract non-renewal retaliation? Resources Matt in Radical Compliance Learn more about your ad choices. Visit megaphone.fm/adchoices

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, we take a deep dive into the recently released GAO report on failures in the US Army SHARP program, largely around policies and procedures, with a dash of culture thrown in.  Highlights include: ·      Why has SHARP failed? ·      What is the role of policies and procedures in compliance? What about culture? ·      How can assess your own internal training and communications? ·      What are the 3 questions every compliance professional should ask? ·      What are the lessons for the civilian compliance world? ·      Where does the Army go from here? Resources Matt in Radical Compliance Learn more about your ad choices. Visit megaphone.fm/adchoices

The award winning, 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. Looking for some hard-hitting insights on compliance? Look no further than Compliance into the Weeds! In this episode Tom Fox and Matt Kelly take a deep dive into the complexities surrounding the Department of Justice's potential decision to criminally prosecute Boeing under its Deferred Prosecution Agreement (DPA) related to the 737 MAX crashes.  They explore the various facets of corporate justice, including retribution, remediation, and societal interests, as well as the challenges in balancing justice for the victims and the broader implications for public safety and corporate culture. The discussion also covers the FAA’s role, the potential for new operational limits on Boeing, the impact and structure of compliance monitorships, and what compliance officers can learn from this high-stakes scenario. Key Highlights ·      DOJ and Boeing: The 737 MAX Dilemma ·      Corporate Justice: Individuals vs. Corporations ·      Balancing Justice and Corporate Interests ·      Deferred Prosecution Agreements: Compliance Challenges ·      07:33 Financial Penalties vs. Operational Limits ·      The Potential of Monitorships ·      FAA's Role and Challenges ·      Compliance Lessons and Future Considerations Resources Matt on Radical Compliance  Tom   Instagram Facebook YouTube Twitter LinkedIn Learn more about your ad choices. Visit megaphone.fm/adchoices

Compliance into the Weeds is the only weekly podcast that takes a deep dive into a compliance-related topic, literally going into the weeds to more fully explore a subject. In perhaps our most somber podcast ever, Matt and Tom take a deep dive into some of the failures which led to the tragedy in Uvalde, TX, and lessons for the compliance professional. Highlights include: ·      Why have controls? ·      How can a control over-ride impact safety? ·      How can you prepare for emergencies? · Thought-out lines of communication created before the emergency. ·      When leadership is tested.    ·      What is the difference between ethical values and ethical priorities? Resources Matt in Radical Compliance Learn more about your ad choices. Visit megaphone.fm/adchoices

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. This week, Matt and Tom take a deep dive into the recent speech by Kenneth Polite, the Assistant Attorney General for the Criminal Division. Every compliance professional needs to read his remarks in depth as they give significant insight into what the DOJ expects in compliance programs and CCOs involved in enforcement actions. Highlights include: ·      It all starts with a risk assessment. ·      The importance of culture. ·      Continuous testing and continuous improvement. ·      The role of monitors. ·      CCO certification going forward.    Resources Matt in Radical Compliance Learn more about your ad choices. Visit megaphone.fm/adchoices

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. This week, Matt and Tom take a deep dive into the recently released Commonewealth Edison report on the current state of its compliance program. Highlights include: Why is ComEd publicly filing a compliance report? How did Compliance Domains replace specific risks? The use of Design Thinking concepts in the Risk Assessment process. A direct line from Risk Assessments -> continuous monitoring-> continuous improvement-> reporting. Resources Matt in Radical Compliance Learn more about your ad choices. Visit megaphone.fm/adchoices

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. This week, Matt and Tom take a deep dive into the recent response of JPMorgan to the whistleblower termination allegations of Shaqualla Williams. Highlights include: What does whistleblower protection actually mean? Can a company fire an employee for other conduct if they have filed a whistleblower report? Will this become the template for getting rid of whistleblowers? Do the substance of whistleblower reports matter? Resources Matt in Radical Compliance Learn more about your ad choices. Visit megaphone.fm/adchoices

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. This week, Matt and Tom take a deep dive into some of the impacts on compliance from the Russian invasion of Ukraine. Highlights include: ·      How will the invasion impact your Supply Chain? ·      What are the attributes of a compliance program that can lead your corporate response? ·      What about cyber? ·      Will all this lead to a more holistic ERM response?   Resources Matt in Radical Compliance Learn more about your ad choices. Visit megaphone.fm/adchoices

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. This week, Matt and Tom take a deep dive into the recently released Stericycle FCPA enforcement action. Highlights include: ·      What is a business strategy based upon corruption? ·      Over-expansion and under due diligence in M&A. ·      Document Document Document ·      The Monaco Doctrine at work.   ·      Lessons learned going forward. Resources DPA SEC Order Matt in Radical Compliance Tom in FCPA Compliance and Ethics Blog Learn more about your ad choices. Visit megaphone.fm/adchoices

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. This week, Matt and Tom are joined by Karen Woody and Jonathan Marks to consider the SEC’s recent proposed rules for disclosure of cyber breaches. Highlights include: ·      What was in the proposals? The 60-day comment period is running. ·      The 4-day disclosure requirement for material breaches. ·      The corporate governance issues around Board reporting. ·      What is the SEC trying to accomplish?   ·      Should your company have a cyber-risk committee? If so, who should be on it.  Learn more about your ad choices. Visit megaphone.fm/adchoices

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. This week, Matt and Tom take on strange comings and goings of Elon Musk and his participation on the Twitter Board of Directors. Highlights include: ·      When and how did Musk become Twitter’s largest shareholder? ·      Why was he asked to come on to the Board? ·      SEC filing requirement issues? ·      What role did the various stakeholder groups, including employees have in Musk turning down the Twitter Board seat?   ·      What are the compliance and governance issues to be learned? Learn more about your ad choices. Visit megaphone.fm/adchoices

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. This week, Matt and Tom take a look at the recent ECI report on the Differences Between Small, Medium And Large Enterprises E&C Programs. Highlights include: ·      Where did this ECI report derive its data? ·      Why are middle sized companies in such bad condition regarding compliance program? ·      Why are middle sized companies having the most issues? ·       When is the time for compliance SME at a company?   ·      When should a company institute robust internal controls? Resources  Matt in Radical Compliance ECI Report - Differences Between Small, Medium And Large Enterprises E&C Programs Learn more about your ad choices. Visit megaphone.fm/adchoices

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. This week, Matt and Tom take at the recent remarks by DOJ Assistant Attorney General Kenneth Polite on CCO certifications of compliance programs after the conclusion of a DPA. Highlights include: ·      Where did this issue come from? ·      Is its implementation looming? ·      What are the implications for individual CCO liability? ·       What about CEO liability for recidivism?   ·      What are the corporate governance implications? Resources  Text of Kenneth Polite speech Learn more about your ad choices. Visit megaphone.fm/adchoices

The award winning, 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. Looking for some hard-hitting insights on compliance? Look no further than Compliance into the Weeds! In this episode Tom Fox and Matt Kelly delve into the recent speech by Michael Hsu, the head of the Office of the Comptroller of the Currency, on the accountability challenges posed by artificial intelligence in the banking sector.  The discussion highlights Hsu's emphasis on the lack of a robust accountability framework for AI, illustrating the issue with the Air Canada chatbot incident. The conversation also touches on potential systemic risks AI could pose to the financial sector, the need for explainable AI, and the shared responsibility model used in cloud computing as a potential template for addressing these challenges. The episode underscores the necessity for compliance officers to ensure contracts and IT controls are in place and stresses the importance of developing trust and accountability mechanisms before widespread AI adoption. Key Highlights ·      AI Accountability: A Regulator's Perspective ·      Case Study: Air Canada's AI Mishap ·      Legal and Technological Challenges ·      Exploring Solutions and Shared Responsibility Resources Matt on Radical Compliance  Tom   Instagram Facebook YouTube Twitter LinkedIn Learn more about your ad choices. Visit megaphone.fm/adchoices

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. This week, Matt and Tom take a look at the proposed SEC climate change risk disclosure regulations released on Monday. Highlights include: The history of this issue. Is the SEC over-reaching? Why climate change regulations only? What about a broader set on ESG? The role of internal controls, audit and oversight.  What does all this mean for the compliance function? Resources Matt Kelly in Radical Compliance Learn more about your ad choices. Visit megaphone.fm/adchoices

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. This week, Matt and Tom visit with our Ukrainian colleague Tim Khashinov-Batirov. Tim is well-known in the worldwide compliance community as Compliance Man. He is currently a refugee in The Netherlands at the time of this recording. In this episode, Tim talks about his escape from Ukraine, what life has been like as a displaced person in Europe, the current and burgeoning refugee crisis and some things that we in America can do right now to help those still in Ukraine and those who are refugees. Other topics we consider include: ·      How the bonds of brotherhood between Russia, Belarus and Ukraine may have been permanently destroyed? ·      What do ordinary Russians think about the invasion? ·      Armies like companies run on culture. Why and how has the corruption in the Russian Army hollowed out its culture from the inside? ·       The leadership of President Zelensky and his impact on the Ukrainian people.   ·      The negative leadership of Russia President Putin. Resources for Donations for Ukraine and Ukrainians UNICEF Salvation Army Red Cross Learn more about your ad choices. Visit megaphone.fm/adchoices

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. This week, Matt and Tom take look at a recent speech by SEC Commissioner Alison Herron Lee where she considered the role of lawyers as gatekeepers under SOX 307. Some of the issues we consider  ·      Who do lawyers represent? ·      What is the difference between lawyers and gatekeepers? ·      How can or should lawyers represent multiple interests on SOX issues? ·       How does this comport with state bar requirements?  ·      How, if at all, does SOX 307 impact compliance professionals? ·      Was the speech a policy change announcement, trial balloon or something else.  Resources Matt in Radical Compliance SOX 307 Learn more about your ad choices. Visit megaphone.fm/adchoices

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. This week, Matt and Tom take a somewhat somber view on the Russia invasion of Ukraine. Some of the issues we consider: Discussion of sanctions. What do sanctions mean for US, UK and EU countries? How companies should think about doing business in Russia going forward. What about energy production and consumption? US company employees in Ukraine and Russia. The role of China in a potential resolution. Resources Tom in the FCPA Compliance and Ethics Blog Matt in Radical Compliance Learn more about your ad choices. Visit megaphone.fm/adchoices

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. This week, Matt and Tom turn to the recent FCPA enforcement action brought by the SEC involving the Korean company KT Corp. Some of the issues we consider Background facts and a corrupt culture, literally from the top. How does the SEC have jurisdiction over KT Corp? Why you need a flow chart of the bribery schemes and a scorecard of the players. Corruption leading to the Korean Blue House. Bags of cash delivered and kept in office safes. Was the resolution an interim step before a monitor is employed? Resources Tom with a 3-part series in the FCPA Compliance and Ethics Blog Matt in Radical Compliance Learn more about your ad choices. Visit megaphone.fm/adchoices

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. This week, Matt and Tom return to one of Matt’s favorite topics Elon Musk/Tesla. Some of the issues we consider: ·      What happens when a business is lead by a runaway CEO? ·      Implications of new SEC investigation. ·       State of California investigation into racial discrimination.  ·      Where has the Board been all this time? ·      Will the attitude of the SEC regarding enforcement change?  Resources Matt in Radical Compliance Learn more about your ad choices. Visit megaphone.fm/adchoices

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. This week, Matt and Tom take up two recent academic papers which every compliance practitioner should study as they provide insight about how communications can impact both fraud prevention and compliance. Some of the issues we consider Berger and Lee on state FCA claims cutting overall accounting fraud. Jinjie Lin on SEC tweeting and reduction of SEC violations. What do these communication strategies portend? How can they be used by the compliance professional? Why whistleblowing does more than simply prevent fraud, waste and abuse. If improves the bottom line. Investment in communications strategies pays off? Resources Matt in Radical Compliance Learn more about your ad choices. Visit megaphone.fm/adchoices

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. This week, Matt and Tom are pleased to host Mike Volkov, host of the Corruption Crime and Compliance podcast on the Compliance Podcast Network. Mike formerly worked in the DOJ, Antitrust Division. We consider the current evolution of antitrust enforcement by the DOJ and FTC and how it might impact the Microsoft acquisition of Activision Blizzard. Some of the issues we consider include: ·      Is the focus of antitrust enforcement changing from consumers to others? ·      What is a Section 2 Sherman Act claim? ·       What are structural v. behavioral remedies?  ·      Have partial divestitures fallen out of favor? ·      How might all this play out in the Microsoft acquisition of Activision Blizzard? ·      What is the role of compliance going forward? Resources Matt in Radical Compliance Mike Volkov in  Corruption Crime and Compliance Learn more about your ad choices. Visit megaphone.fm/adchoices

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. This week, Matt and Tom take up the Log4j imbroglio. Some of the issues we consider: ·      Why is this matter of such importance to compliance and audit? ·      Is your IT security out-sourced? If so how do you perform 3rd party due diligence on these companies? ·       What is the intersection of 3rd party, cyber and operational risk?  ·      How can you implement at 3rd party risk management program in cyber? ·      Have you audited a 3rd party in the cyber realm? Resources Matt in Radical Compliance Learn more about your ad choices. Visit megaphone.fm/adchoices

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. This week, Matt and Tom take up compliance training and messages insights Matt had from the book, Get It Done, a newly released book by business professor Ayelet Fishbach. Some of the issues we consider  ·      How has compliance training evolved? ·      The differences in values-based training and rules-based training. ·       How can you build aspirational goal setting into your compliance training and compliance messaging?  ·      Incorporation of aspirational goal setting into your internal controls. ·      What is the bottom line on your compliance goal setting? Resources Matt in Radical Compliance  Get It Done by Ayelet Fishbach Learn more about your ad choices. Visit megaphone.fm/adchoices

The award-winning Compliance into the Weeds is the only weekly podcast that takes a deep dive into a compliance-related topic, literally going into the weeds to more fully explore a subject. Looking for some hard-hitting insights on compliance? Look no further than Compliance into the Weeds! In this episode of ‘Compliance Into the Weeds’, Tom and Matt take a deep dive into last week’s trial verdict against Donald Trump in NYC and lessons for the compliance professional. We explore the importance of internal controls, consistent consequence management, and effective leadership. They also delve into how compliance officers can learn from the storytelling strategies used in the trial and emphasize the application of the rule of law. Key Highlights: Overview of Trump’s Criminal Conviction Internal Controls and Compliance Lessons Consequences Management and Consistent Enforcement Ethical Leadership and Communication Who is your audience? Storytelling in Compliance Final Thoughts and Rule of Law Resources: Matt on Radical Compliance  Tom   Instagram Facebook YouTube Twitter LinkedIn Learn more about your ad choices. Visit megaphone.fm/adchoices

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. This week, Matt and Tom conclude a special two-part podcast series of several topics they will be following in 2022. Today in our concluding Part 2, we consider: ·      The time of reckoning is coming for SPACs funded in 2021 as their 18 month-deadline is fast approaching. Is the SEC looking at SPACs as an alternative form of IPO? What will the regulatory landscape look like going forward? ·       CCO pay. Will it go up after several years of remaining flat? How did the Great Resignation impact compliance, if at all? What skills sets might a CCO need into 2025 and beyond?  ·      The SEC investigation into Facebook. Are a company’s public statements about having an ethical culture mere puffery or are they actionable for failing to live up to their public statements. Also, what does the Francis Haugen testimony mean for whistleblowers going forward.   ·      The SEC investigation into Activision’s toxic workplace and culture of misogyny. Are these new areas the SEC will be looking at in addition to its traditional role of financial reporting watchdog. Resources Matt in Radical Compliance Learn more about your ad choices. Visit megaphone.fm/adchoices

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. This week, Matt and Tom begin a special two-part podcast series of several topics they will be following in 2022. Today in Part 1, we consider The Biden Administration’s Strategy on Countering Corruption, specifically around FinCEN and AML enforcement and how it may impact FCPA enforcement. The PCAOB was long dysfunctional before the Trump Administration eviscerated it. How will it change under the Biden Administration? The SEC plans for the regulation of and reporting on ESG. FCPA enforcement for recidivist corporations after DAG Lisa Monaco’s speech in October 2021. Resources Matt in Radical Compliance Learn more about your ad choices. Visit megaphone.fm/adchoices

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. On Tuesday, Matt and Tom began a special two-part year-end review of six topics which they saw as significant in 2021 and believe will be so into 2022 as well. They looked at SPACs, the Robinhood/GameStop phenomena and the new hybrid working environment and what is means for the compliance professional. Today in Part 2 we consider the Biden Administration’s Strategy on Countering Corruption, in conjunction with DAG Lisa Monaco's speech on the refocus of the Department of Justice on FCPA enforcement and other white collar prosecutions, the continuing evolution of ransomware attacks and ESG in 2021 and beyond. Resources Matt in Radical Compliance Tom in the FCPA Compliance and Ethics Blog Learn more about your ad choices. Visit megaphone.fm/adchoices

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. Today, Matt and Tom begin a special two-part year-end review of six topics which they saw as significant in 2021 and believe will be so into 2022 as well. In this episode we discuss SPACs, the Robinhood/GameStop phenomena and the new hybrid working environment and what is means for the compliance professional. Join us on Thursday of this week as we post Part 2 and look at the Biden Administration’s Strategy on Countering Corruption, the continuing evolution of ransomware attacks and ESG in 2021 and beyond.  Resources Matt in Radical Compliance Tom in the FCPA Compliance and Ethics Blog Learn more about your ad choices. Visit megaphone.fm/adchoices

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. Today, Matt and Tom take a deep dive into the JPMorgan settlement with the SEC and CFTC for faulty electronic record-keeping. Some of the issues we consider are: ·      Why does Matt ‘almost feel bad' for JPMorgan? ·      There was a paucity of facts. So why is the fine so high? ·      Is it a ‘Compliance Consultant’ or a Monitor?  ·      The remediation agreed to by JPMorgan. ·      Lessons learned for the compliance professional and ephemeral communications. ·      Focus on consistent and even-handed discipline for JPMorgan employees going forward. Resources Matt in Radical Compliance Tom in the FCPA Compliance and Ethics Blog Learn more about your ad choices. Visit megaphone.fm/adchoices

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. Today, Matt and Tom take a deep dive into the recently released US Strategy on Countering Corruption. After beginning with a debate on whether the document is simply a nice to have or something more significant, some of the issues we consider are: What is the significance domestically v. internationally? What new data will be collected and analyzed? What new agencies and departments in the US government will be involved? What additional international NGOs will be involved? Enhanced whistleblower protections? New focus on government procurement and in the Department of Defense. Resources Matt in Radical Compliance Tom in the FCPA Compliance and Ethics Blog Learn more about your ad choices. Visit megaphone.fm/adchoices

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. Today, Matt and Tom take a deep dive into the difference between a privacy breach and a ransomware attack. Some of the issues we consider are: Why are privacy breaches different from ransomware attacks? What is an authenticated v. unauthenticated cyber-attack? Why would the SEC get involved? What are the internal controls need to prevent and detect a ransomware attack? How will they be audited? How can a material weakness in internal controls around ransomware lead to a financial restatement? What will the SEC look at from an enforcement angle? Resources Matt in Radical Compliance Learn more about your ad choices. Visit megaphone.fm/adchoices

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. Today, Matt and Tom take a deep dive into several issues regarding Special Purpose Acquisition Companies (SPACs). Some of the issues we consider are: What did the Klausner and Olhrogge Research Paper show about conflicts of interest? What did Calcbench analysis show about not only the number of SPAC filings but how they are driving the dramatic increase in M&A activity. What are the corporate governance issues involved in with SPACs? What are the internal controls issues involved with SPACs? What has (or will) the Delaware Supreme Court have to say. What have been the pronouncements from the SEC? Resources Matt in Radical Compliance, Paper Raises Red Flags on SPACs Governance Learn more about your ad choices. Visit megaphone.fm/adchoices

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. Today, Matt and Tom take a the recently filed lawsuit by Shaquala Williams against JPMorgan for alleged retaliation for her internal whistleblowing. Williams was in a compliance function at the bank and claimed she was terminated for raising the issues that JPMorgan was not living up to its reporting requirements under a DPA.Some of the issues we consider are: Facts of the claim? Made in the context of an ongoing DPA. The lack of lack of documented policies and procedures. Siloed nature of compliance functions. Inconsistency in risk assessments. Why is a single source of truth so critical? Resources Matt in Radical Compliance, That Lawsuit Against JP Morgan Learn more about your ad choices. Visit megaphone.fm/adchoices

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. Today, Matt and Tom take a look at the Department of Defense retreat on its cybersecurity initiative for contractors, from the original CMMC to the new standard of CMMC 2.0. Some of the issues we consider are: ·      What is CMMC and what morphed into CMMC 2.0? ·      Who led the charge to make these changes? ·      Do these changes help or hurt federal government overall cybersecurity?  ·      Will self-assessments work? ·      New FCA claims coming? ·      What about compliance? Resources Matt in Radical Compliance, Pentagon Sounds Retreat on CMMC Compliance Learn more about your ad choices. Visit megaphone.fm/adchoices

The award-winning Compliance into the Weeds is the only weekly podcast that takes a deep dive into a compliance-related topic, literally going into the weeds to more fully explore a subject. Looking for some hard-hitting insights on compliance? Look no further than Compliance into the Weeds! In this episode, Tom and Matt delve deep into Citigroup’s $126 million trading error, resulting from poor internal controls. They discuss how a simple ‘fat finger’ error by a trader led to a major flash crash on European stock exchanges in 2022, and how the failure of Citigroup’s internal controls allowed it to happen. The discussion covers multiple compliance lessons, including the importance of understanding the human element in control design, the need for adequate staffing and monitoring, and the necessity of consistent global risk management. Fox and Kelly also highlight the importance of addressing findings from internal audits and maintaining urgency in improving internal controls. They emphasize that companies should think creatively about risk management, taking into account various global factors, including holidays and local regulations. Key Highlights: The Citigroup Internal Control Fiasco Compliance Lessons from Citigroup's Mistake The Human Element in Compliance and Control Failures Global Consistency in Risk Management Resources: Matt on Radical Compliance  Tom   Instagram Facebook YouTube Twitter LinkedIn Learn more about your ad choices. Visit megaphone.fm/adchoices

 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. Today, Matt and Tom continue their look at the recent speech by DAG Lisa Monaco to the ABA White Collar Institute on some very significant change to white collar, including FCPA enforcement. Today we consider potential changes to DPAs and NPAs and other settlement mechanisms. Some of the issues we consider are: ·      Are DPAs and NPAs simply the cost of doing business? ·      Is the Wells Fargo growth cap a valid model? ·      What about greater DOJ or Monitor oversight?  ·      Longer terms for DPAs? ·      New enforcement tools coming? ·      New review of DPAs and NPAs. Resources Matt in Radical Compliance So What Happens Next with DPAs Tom in the FCPA Compliance and Ethics Blog Monaco Speech - Individual Accountability Monaco Speech - Monitors Text of DAG Monaco Speech Learn more about your ad choices. Visit megaphone.fm/adchoices

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. Today, Matt and Tom have a rare emergency podcast on DAG Lisa Monaco’s speech to the ABA White Collar Institute on some very significant change to white collar, including FCPA enforcement. Some of the issues we consider are: Return to the Yates Memo. Disavowal of the Benczkowski Memo. Change in the FCPA Corporate Enforcement Policy? Whither recidivists? New enforcement tools coming? New review of DPAs and NPAs? Resources Matt in Radical Compliance, Justice Dept. Unveils Big Compliance Shifts Text of DAG Monaco Speec Learn more about your ad choices. Visit megaphone.fm/adchoices

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. This week Matt and Tom take a deeper dive into the recent Credit Suisse enforcement action. Some of the issues we consider are: Is a broader view of risk needed? If so, who would perform that review? Too many silos? Public companies v. investment banks? What is under escalated risk? What is conduct risk? Learn more about your ad choices. Visit megaphone.fm/adchoices