Compliance into the Weeds

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. While we have both written and spoken about companies who are responding positively during the COVID-19 crisis, today we take up companies who are not doing so and are thereby engaging in covidiocy. Some of the highlights include: What is the tale of the Boston Sports Club? What were its governance failures? Its policy failures? What is the FINRA Guidance on Pandemic Risks? Why is liquidity so critical now? Corporate governance failures by the parent. ResourcesMatt Kelly blog posts , When Covidiocy Strikes Corporate Governance and New FINRA on Pandemic RisksTom Fox blog post, Navigating the Coronavirus Crisis for Compliance Professionals -Company Responses 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 podcast Matt Kelly and Tom Fox take a deep dive into the recent whistleblower award issued to an anonymous whistleblower, who happened to be a compliance professional.Some of the highlights include: What are the requirements for a compliance professional to be eligible for a Dodd-Frank Whistleblower award? How many CCOs or internal audit types have been awarded Dodd-Frank Whistleblower awards? The SEC was previously investigating the company, how (or why) was there an award in this case? With nearly $400MM paid out in whistleblower awards, the program is clearly working. Is Jay Clayton’s attempt to eviscerate the Whistleblower Awards? ResourcesMatt Kelly blog post, Whistleblower Award to Compliance ProfessionalSEC Press Release 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. As with many of you, we are overwhelmed with COVID-19 information. Matt and I want to bring some clarity, if not sanity to the conversation. In this podcast we continue our exploration of the parameters and impacts of COVID-19, by taking a look at one compliance tale in the time of coronavirus…according to Frank.Some of the highlights include: What is being Frank in the time of COVID-19? Have your underlying assumptions on risk changed? Why must you look at risk not simply with another set of eyes but also with a different eye? With COVID-19, the risk is not only different but also unknown. Why are isolation and quarantine key? Why is focus on your risk management process so critical now? Are you revamping your engines at 40,000 ft at 480 mph? Stay tuned to after the outro for a special bonus piece on the phrase According to Hoyle… ResourcesMatt Kelly blog post, One Compliance Tale in the Time of COVID 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. As with many of you, we are overwhelmed with COVID-19 information. Matt and I want to bring some clarity, if not sanity to the conversation. To that end, in this episode we take a deep dive into the need to integrate public health measures into our private enterprise operations, now and for the foreseeable future.Some of the highlights include: What is some of the positive news coming out of China? How did China’s lockdown help slow the virus? Why do we need to use the time to integrate public health measures into private sector operations? What are some of these public health measures? Why are isolation and quarantine key? If we get it under control, how do we prevent another outbreak? What are some practical starting points for businesses to think through at this time? What should businesses be thinking about 30, 60, 90 days out? ResourcesMatt Kelly blog post, The Downslope Risks of COVID-19 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 recent OCC Guidance on managing 3rd party risk.Some of the highlights include: What was the Office of the Comptroller of the Currency, guidance published the on March 5? Why is 3rd party risk still a chronic issue? What is the role of due diligence? What are sustainable business models for 3rd party risk management? What are 4th party risks? What is Kelly’s Law of 3rd Party Risk Management? A short discussion of FINRA’s new bulletin on pandemic risk? ResourcesMatt Kelly blog post, Some Good Guidance on 3rd Party Risk 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 Cardinal Health FCPA enforcement action brought by the SEC.Some of the highlights include: What is the background to the matter? How did a Chinese acquisition cause so much FCPA grief? What were the types of business relationships involved? How did the corporate office respond? What red flags were spotted or missed? Why didn’t the corporate office take stronger action? What was the SEC’s response in the fine and penalty phase? ResourcesMatt Kelly blog post, Cardinal Health Pays $8.8 Million on FCPA IssuesTom Fox blog post, Cardinal Health FCPA Enforcement Action: High Risk Business Relationships 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 Donald Trump ordering (via Twitter) the AG to reduce the length of sentence requested for Roger Stone and his pardons of 13 convicted white-collar criminals.Some of the highlights include: What is the background to the Barr Sentencing Memo? Can white collar defense lawyers use the DOJ reasoning to decouple of the sentencing guidelines? What does all this mean for corporate culture? When will Trump start attacking companies for doing business ethically? What are the implications for the compliance discipline and CCO? What tensions does all this create for the corporate compliance and corporate legal functions? What happens when arbitrary behavior emanates from the top of an organization? ResourcesMatt Kelly blog post, Lessons from Justice Department Meltdown 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 recent Hogan Lovell’s report High Seas: Steering the Course II Navigating bribery and corruption risk in 2020. We conclude with a special tribute to Bernie Ebbers and his role in creating the modern compliance professional.  Some of the highlights include: What do the survey results say about the direction of compliance function spending? Can companies manage risks in emerging markets when compliance spending is decelerating? Technology can improve compliance efficiency but it can also improve compliance evasion. Will CCOs be able to interpret data from ComTech tools? What are the implications for the compliance discipline and CCO? ResourcesHogan Lovell’s report High Seas: Steering the Course II Navigating bribery and corruption risk in 2020, click here.Matt Kelly blog post, Compliance Resources Getting Tighter 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 Office of Comptroller and Currency’s proposed Cease and Desist Order against former high-ranking Wells Fargo risk assurance executives.Some of the highlights include: Are risk assurance executives now under more scrutiny by regulators? Were the facts of Wells Fargo’s fraudulent accounts scandal so bad to raise a new level of liability? Should we expect new regulatory guidance? If the first line of defense performs it function, but the second and third do now; what are the implications? What are the implications for the compliance discipline and CCO? 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 Matt indulges me as we take a deep dive into 2020 Edelman Trust Barometer and its implications for the CCO and corporate compliance function. Some of the highlights include: Why is trust down so much in developed countries while going up in under-developed countries? Why is the trust gap widening between the well-educated and others? While respondents tend to trust their employers, why is business in general seen as untrustworthy? What does the growing gap in executive pay portend for employee trust? What are the implications for the compliance discipline and CCO? ResourcesDownload the Edelman Trust Barometer here.Read Matt’s blog post, Edelman Trust Report Gets Grim Learn more about your ad choices. Visit megaphone.fm/adchoices