In this episode, Jay Rosen and myself take a look at some of the top compliance stories over the past week, including inquiring into where are the chickens in England.

  1. The Supreme Court narrows the definition of who is a whistleblower in Digital Realty v. Somers. See Kevin LaCroix’s report in the D&O Diary, Sam Rubenfeld’s report in the WSJ Risk and Compliance Journal. Henry Cutter surveys white collar defense and vendor reaction in his piece in the WSJ Risk and Compliance Journal.
  2. Banks behaving badly yet again. Mike Volkov reports on Rabobank’s $368MM penalty for conspiracy to money launder and obstruct justice in Corruption, Crime and Compliance.
  3. Bill Coffin hits his 3rd straight homerun. He writes about the ethical and compliance failures of Twitter in his Compliance Week
  4. Companies need to prepare for more robust international investigations and enforcement of anti-corruption laws. Mara Lemos Stein reports in the WSJ Risk and Compliance Journal.
  5. Jaclyn Jaeger reviews due diligence practices for corporate sponsors in Compliance Week.
  6. Curling goes big-time with a doping scandal. An amazed Adam Turteltaub writes in the SCCE Compliance and Ethics Blog.
  7. How can you evaluate in-house investigations? Sundar Narayanan explores in an article in Corporate Compliance Insights.
  8. Hui Chen and Professor Eugene Soltes consider a more analytical approach to testing compliance program effectiveness, in an upcoming Harvard Business Review article (sub req’d).
  9. KFC shuts down in the UK for (wait for it) lack of chicken to fry. Tom considers what is risk in a piece for the FCPA Blog.
  10. Tom had a week-long series on the intersection of Sherlock Holmes and innovation in compliance. Check out the following topics: Digital Strategies; Using the Digital Twin; CCO as Data Interpreter; Interpreting Data; and Digital Future in Compliance.
  11. The Everything Compliance gang is back for wrap up of their highlights from the first year of compliance under Trump. It is available on the FCPA Compliance ReportiTunesLibsynYouTubeand JDSupra.
  12. Tom and Jonathan Armstrong premier a new podcast, Countdown to GDRP. This podcast will consider what US companies can do to prepare for GDPR on its go live date of May 25, 2018. For the inaugural episode, click here. Episode 2 will go up next Wednesday, February 28th.
  13. Tom announces presales of his next book, the Complete Compliance Handbook, which will be published by Compliance Week in April 2018. It is available for PreSale here.

The top compliance roundtable podcast is back with a wrap up with a review of  the first year of the Trump Administration and its impact on the compliance profession. Stayed tuned to the end for riffs and rants in this edition.

  1. Is Jay Clayton who we thought he was? Matt Kelly takes a look at SEC Chairman Jay Clayton and explores some of the SEC’s changes, initiatives and what did not change. Matt riffs on the new compliance officer comedy, which will be piloting on FX television. 

For Matt Kelly’s musings on Jay Clayton, the PCAOB, government rule-making and the SOX compliance debate, see the following: 

8 Compliance Events to Watch in 2018

Clayton, Congress Talk Cybersecurity

The Private Market Stresses Driving SOX Compliance Debate

Framing the Arguments Over SOX Compliance

Treasury Report Eyes SOX Compliance

Regulatory Czar Eyes Agency Guidance

COSO Names New Chairman 

  1. Mike Volkov summarizes the Mueller investigation, using a timeline to highlight where it has been, key pleas from key players and where it may be going. Belying his normal contrarian state, Mike relates how doing yoga has put him in a blissful state. 

For Mike Volkov’s excellent 3-part podcast series on the Mueller investigation and related blog posts, see the following: 

Obstruction of Justice-A Primer

Understanding Special Counsel Mueller’s Authorization

Perspective on the Russian Investigation — Analysis and Review of Manafort/Gates Indictment and Papadopolous Plea (Part I of III)

Perspective on the Russian Investigation — The Michael Flynn Plea Agreement (Part II of III)

Perspective on the Russian Investigation — Next Steps for Special Counsel Mueller’s Investigation (Parts III of III) 

  1. Did anything really change over the past year for the compliance practitioner? Jonathan Armstrong considers what really changed in the world of anti-corruption compliance under the Trump Administration and answers with a resounding Not Much. Jonathan Armstrong rants on Hudson’s News stores at airports which inevitably do not have anything Traveler Armstrong needs.

For the Cordery Compliance client alerts see the following: 

EU Conflict Minerals and Metals Regime

Bribery Due Diligence

Disruptive Technology Start-Ups & The Need For Legal Compliance

New Schrems Case Poses a Threat to International Data Flows? 

  1. In a year where it appeared not much happened in the FCPA, Jay Rosen says the new FCPA Corporate Enforcement Policy is a significant step forward for compliance. Jay Rosen rants on his New England Patriots Super Bowl loss.

For Jay Rosen’s post on the new FCPA Corporate Enforcement Policy see the following:

Jay Rosen’s Most Significant FCPA Event from 2017 – FCPA Corporate Enforcement Policy (or a 5 Min History of How We Got From There to Here) 

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

In this episode, podcast favorite James Koukios returns to discuss highlights from international anti-corruption efforts, enforcement actions and developments highlighted in Morrison and Foerster’s December report. We highlight five developments:

  1. The Keppel Offshore FCPA enforcement action and the attendant fallout in Singapore, where the country has announced it is investigation possible criminal charges against the company’s senior executives. We also highlight the new Singaporean initiative for a type of Deferred Prosecution Agreement. We explore how countries in the Far East are ramping up anti-corruption investigations and their continuing cooperation with the United States in investigations.
  2. The Trump Administration reaffirms fight against international corruption as a top priority. We discuss the December release by the Administration of its first National Security Strategy paper, detailing the administration’s top foreign policy priorities. Among five “Priority Actions,” the paper pledges that the U.S. will “continue to target corrupt foreign officials and work with countries to improve their ability to fight corruption. . . .” We explore how the administration see corruption as a threat to American companies’ ability to compete fairly abroad and also asserts that corruption and weak government allow terrorists and criminal networks to prosper and how vigorous anti-corruption enforcement is seen as one of several “economic tools” the U.S. will use “to deter, coerce, and constrain adversaries.”
  3. The public call by Attorney General Sessions greater cooperation in international criminal cases. We note how this follows several other public comments by political appointees of the Administration on the need for not only robust anti-corruption enforcement but also enhanced international cooperation in investigations and enforcement.
  4. United Kingdom Sets Course for Long-Term Anti-Corruption Strategy; and
  5. The warnings issued by the Chinese government officials and employees of state-owned enterprises. We consider how this fits into the Chinese anti-corruption campaign and whether it will be inward or outwardly focused. We conclude with what it may mean for DOJ prosecutions under the FCPA and what US companies doing business in China may expect going forward.

 

For more information read the full Morrison & Foerster white paper Top Ten International Anti-Corruption Developments for December 2017

In this episode, Jay Rosen and myself take a look at some of the top compliance stories over the past week.

  1. A very interesting article by T. Markus Funk and Andrew Boutros entitled, “The Evolution and Status of ‘Carbon Copy”. For the full copy go to Bloomberg White Collar Report.
  2. Time to go back to college and take that Econ course as John Bray explores the intersection of sunk costs and third party bribery payments, in the FCPA Blog.
  3. Bill Coffin really nails it this week. He opines that compliance officers are the conscious of a company in his Compliance Week (sub req’d)
  4. Dick Cassin notes that the Justice Department ends its investigation of Core Labs the company’s relationship to Unaoil (here) and Juniper Networks gets a Declination (here). Henry Cutter explains both the WSJ Risk and Compliance Journal.
  5. The PdVSA ‘management team’ in charge of bribes are all indicted over money-laundering based on FCPA violations. Sam Rubenfeld leads the coverage in the WSJ Risk and Compliance Journal.
  6. Sally Afonso explains why you need to get out of our compliance conference comfort zone, in the SCCE Compliance and Ethics Blog.
  7. Joe Mont explores whether businesses misuse NDAs in his article, “Companies twist and abuse non-disclosure agreements”. See article in Compliance Week (sub req’d)
  8. Ethisphere announces its 2018 World’s Most Ethical Companies Awards, see Press Release Matt Kelly explores some of the key similarities in Radical Compliance.
  9. Tom announces presales of his next book, the Complete Compliance Handbook, which will be published by Compliance Week in April 2018. You can find out more on his website by clicking here.

In this episode I visit with Carlos Ayres, partner at Medea, Ayres and Sarubbi in Sao Paulo. We visit on the past year in anti-corruption enforcement in Brazil and where it may lead in 2018. Carlos discusses the continued fallout from the Odebrecht corruption scandal, across the continent of Latin America with the new anti-corruption laws being implemented in Argentina, Peru and Chile. We also discuss what US and UK companies need to do if they are doing business in those countries to protect themselves.

For more on Carlos Ayres and his firm Meada, Ayres and Sarubbi, check out their website by clicking here.