In this episode, the top compliance roundtable podcast returns with a look back at some of the top FCPA, compliance and data privacy/data security issues from 2017 and how they inform what will be the top such issues in 2018 by looking forward. 

  1. Jay Rosen considers the new Justice Department FCPA Corporate Enforcement Policy and what it will mean for compliance practitioners and compliance programs in 2018 and beyond. 

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)

  1. Jonathan Armstrong looks a fascinating couple of cases working their way through the English courts, the Morrison and Carphone Warehouse cases. They each have very interesting angles including the reliability of audit staff, liability of the employer for an employee’s criminal and individual criminal liability in the data breach situation.

For Cordery Compliance’s posts touching on these cases, see the following:

Client Alert: Morrisons Data Breach Litigation Succeeds

Client Alert: Carphone Warehouse fined under data breach

  1. Matt Kelly returns to his vendor management soapbox to explore the intersection of FCPA compliance and data security. He considers some of the top data security breaches of 2017, the SEC response from the regulator perspective and most importantly the business response, both up and down the Supply Chain.

For Matt Kelly’s post on this topic, see the following:

Microchip Meltdowns and Vendor Risk

  1. Tom Fox sits in for Mike Volkov this week. Tom discusses the continued internationalization of anti-corruption investigations and enforcement which began in earnest in 2016. He details some of the notable cases, including the Rolls-Royce matter, Keppel Offshore, SBM Offshore and the Telia case and explores what these enforcement actions may portend for compliance practitioners and compliance programs going forward. 

For Tom Fox’s post on the continued internationalization of anti-bribery/anti-corruption enforcement, see the following: 

DOJ-Aggressive International Anti-Corruption Enforcement to Continue

Rants follow at the end. 

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

  1. Does Free Speech exist at the office? Can you tell your boss what you think of them? Ben DiPietro looks at a new Department of Labor approach in WSJ Risk and Compliance Journal.
  2. Are fraudsters like the rich (as in different than the rest of us)? Jonathan Marks explores the mind of the fraudster in his Board and Fraud blog.
  3. What can you do to manage your third parties more effectively? Rick Chapman provides his experiences in the SCCE Blog.
  4. Is there a unified theory of corruption? Professor Joseph Pazsgai explores the question in a guest post on the FCPA Blog.
  5. Mike Volkov gives his five top compliance predictions for 2018 in the Crime, Corruption and Compliance Blog.
  6. Oh thank Heaven? Feds raid 7-11 looking for criminals (IE undocumented workers). See story by Alicia Caldwell in the WSJ.
  7. Is there a real (or perceived) bias in the monitorship process? Several experts are cited in GIR piece sub. req’d
  8. Shearman & Sterling releases its annual report, the Recent Trends and Patterns in the Enforcement of the FCPA.
  9. Join Tom’s monthly podcast series on One Month to a More Effective Compliance Program. In January, I bring together the entire year of compliance program best practices with 31 days to a more effective compliance program. It is available on the FCPA Compliance Report, iTunes, Libsyn, YouTube and JDSupra.
  10. Tom announces his next Compliance Master Class, sponsored by Marcum LLP. It will be held on February 11 & 12 at Marcum’s offices in Miami, FL. More information or a copy of the agenda, or to register, will be available on my website, FCPA Compliance Report or at Marcum LLP.
  11. Jay Rosen previews the Jay Rosen weekend report.
  12. We preview this week’s NFL playoffs.

In this episode Matt Kelly and I take deep dive into the issue of non-GAAP metrics and its implications. We were inspired an article in this quarter’s MIT Sloan Management Review entitled, “The Pitfalls of Non-GAAP Metrics” by H. David Sherman and S. David Young. It is fascinating review of this topic, which as the authors note “Lurking within the financial statements and communications of public companies is a troubling trend. Alternative metrics, once used sparingly, have become increasingly ubiquitous and more detached from reality.”

In this episode, Jay Rosen and myself take a look at some of the top compliance stories over the past week. Jonathan Marks joins us to discuss his new Board and Fraud blog. You want mind at all.

  1. More fallout from the Keppel Offshore FCPA enforcement action. See articles by Dick Cassin in the FCPA Blog on the in-house lawyer who pled guilty and the systemic nature of the corruption.
  2. Rick Messick considers risk assessments in the Global Anti-Corruption Blog.
  3. Well know anti-fraud specialist Jonathan Marks starts a new blog Board and Fraud, focusing on corporate governance and fraud issues. He begins by telling auditors to be skeptical. Check it out here.
  4. Is the purpose of corporate enforcement deterrence or punishment? Mihailis E. Diamantis considers this question with a preview of his upcoming article “Clockwork Corporations: A Character Theory of Corporate Punishment”. The preview is posting in NYU’s Crime and Enforcement blog.
  5. Former Och Ziff hedge fund executive, Michael Cohn indicted for fraud in Africa investment scheme. See article in Bloomberg.
  6. A banker From Turkey Convicted in plot to evade Iran sanctions. See article by Benjamin Weiser and Carlotta Gall in the New York Times. See DOJ Press Release.
  7. Petrobras Settles U.S. Securities Suit Based on Corruption-Related Allegations for $2.95 Billion. Kevin LaCroix reports from the D&O Diary. Henry Cutter reports from the WSJ Risk and Compliance Journal.
  8. Join Tom’s monthly podcast series on One Month to a More Effective Compliance Program. In January, I bring together the entire year of compliance program best practices with 31 days to a more effective compliance program. It is available on the FCPA Compliance Report, iTunes, Libsyn, YouTube and JDSupra.
  9. Tom announces his next Compliance Master Class, sponsored by Marcum LLC. It will be held on February 11 & 12 at Marcum’s offices in Miami, FL. More information or a copy of the agenda, or to register, will be available on my website, FCPA Compliance Report or at Marcum LLP.

In this episode, Matt Kelly and I take a look at some of the more intriguing issues in compliance and ethics, FCPA and greater GRC issues in the new year of 2018.

  1. The upcoming SEC Guidance on cybersecurity, which is an issue the SEC has struggled upon. The SEC claims its new guidance will focus more about internal escalation procedures and controls to prevent insider trading ahead of disclosure. The new Revenue Recognition standard which went into effect in December 2017.
  2. We consider how will companies manage consequences of the new standard and some of the ancillary issues: new accounting policies, new procedures for auditors, new assessments of internal control, and even changes to business practices and disclosures in quarterly filings.
  3. The upcoming US Supreme Court decision on whistleblower protection under Dodd-Frank, which centers on whether whistleblower protections under the Dodd-Frank Act extend to employees who only report misconduct internally.
  4. The new FCPA Corporate Enforcement Policy, which was announced in November. How it will be used going forward?
  5. In one of the most public series of scandal, the continued fallout from sexual harassment scandal, including changes to anti-harassment programs in the wake of the Harvey Weinstein scandal, #MeToo and associated corporate and government scandals.
  6. The maturity of vendor risk management programs, both in compliance and in greater business processes. Compliance and audit executives have worried about slices of vendor risk, too. How will audit, risk, and compliance functions work together to tame vendor risk in a more systematic, intelligent way in 2018?
  7. A bustling GRC vendor world is expanding. If risks to the large enterprise are undergoing a digital transformation, so too are the tools and systems enterprises use to manage those risks. How will the GRC software vendors respond to it?
  8. Will the SEC reform SOX? If so what might it look like.

For more on these topics see Matt Kelly’s blog post “Eight Compliance Events to Watch in 2018