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. In this episode Matt indulges me as we take a deep dive into the Houston Astros sign stealing scandal. We mine the episode for compliance and ethics lessons. It turns out there are quite a few. Some of the highlights include:Ø  What was the role amnesty to the players played in both the speed of the MLB Report and its thoroughness? Ø  Does the MLB sanctions against Luhnow and Hinch send a clear (enough) signal? Ø  It was a technology innovation which led to the scandal. How does that inform a compliance professional? Ø  Houston’s culture was broken. How can it be fixed?Ø  Did the Mets and Red Sox both actually consider keeping Alex Cora and Carlos Beltran? If so why?  ResourcesTom’s five blog posts (to date) in the FCPA Compliance and Ethics Blog. Part 1-The ScandalPart 2-Luhnow and HinchPart 3-Compliance LessonsPart 4-Ethics and The Truth of the GamePart 5-the Whistleblower and Amnesty 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. Welcome to the first Into the Weeds podcast of the new decade and the new year. In this Part 2 of a two-part podcast series, Matt Kelly and I take a look at ten issues that we think will be significant for the compliance professional in the upcoming year. Some of the highlights include: The Institutional Shareholder Services lawsuit against the SEC. What will this and other court cases against the Trump Administration’s attempt to gut shareholder protects by the SEC? Effective sanctions compliance programs. Will there be congruity or discrepancies in the interpretation of what constitutes a best practices compliance program by the DOJ and OFAC. Compliance convergence. We are moving to do away with anti-corruption compliance, trade sanction and export control compliance, AML compliance to a role which is simply compliance. Data, data and more data. Regulators now expect data analytics, continuous monitoring and continuous improvement in your compliance program. The ethical edge. How more effective compliance creates more efficient business process equating to greater profitability. 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. Welcome to the first Into the Weeds podcast of the new decade and the new year. In this Part 1 of a two-part podcast series, Matt Kelly and I take a look at ten issues that we think will be significant for the compliance professional in the upcoming year.Some of the highlights include: A legislative fix to the Supreme Court’s Digital Realty Trust decision? Can Congress do anything, including overturning this anti-compliance ruling. The Fed will take a look at technological service providers? How this will impact compliance. Climate change disclosures. We use this topic to consider the impact on corporate governance, Boards and mandated disclosures. Disgorgement at the Supreme Court. Will the SCt allow fraudsters to keep their ill-gotten gains? Critical audit matters. Will companies move make controls more data based and less subjective? Check in next week, where Matt and Tom continue the discussion.ResourcesMatt’s blog post 7 Compliance Items to Watch in 2020 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, Matt Kelly and I go into the weed over the ethical failings and missteps made by the now former Boeing CEO Dennis Muilenburg which led to his firing.Some of the highlights include:Ø  What are the three steps in cooperating with the government after a failure?Ø  Why did Boeing fail to reveal negative information it uncovered in its internal investigation?Ø  What is the role of a CEO around ethics?Ø  What is the role of the Board of Directors?Ø  What is the only control for a CEO around ethics?Ø  What are the lessons learned for a corporate compliance program?Ø  What does all this mean for compliance professionals going forward?ResourcesMatt’s blog post More Misadventures in Ethics From Boeing 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, Matt Kelly and I go into the weeds about the new DOJ, National Security Division’s Export Controls and Sanctions Enforcement Policy for Business Organizations. Some of the highlights include: Why is there no declination available? What aggravating factors are different between this policy and the FCPA policy? What is an effective compliance program under this Policy and the OFAC Compliance Framework? Who do you self-disclose to first if you uncover a trade sanctions violation? Is this policy coordinated with other cooperation agreements? What are the lessons learned for a corporate compliance program? What does all this mean for compliance professionals going forward? ResourcesMatt’s blog post Cooperation for Sanctions Violations 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, Matt Kelly and I go into the weeds about the Ericsson FCPA enforcement action from the internal controls perspective. Some of the highlights include:Ø  What does this enforcement action tell up about internal controls?Ø  How were the business units able to evade internal controls for so long?Ø  Was there control override?Ø  What is the role of ERP systems such as Oracle and SAP in compliance?Ø  If a company refuses to use standard ERP systems, is that a control failure under the FCPA?Ø  What are the lessons learned for a corporate compliance program?Ø  What does all this mean for compliance professionals going forward?ResourcesTom’s blog posts, both the FCPA Compliance and Ethics Blog.Part 1-OverviewPart 2-The Bribery Schemes 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 Kelly and I go into the weeds about operational resiliency. Some of the highlights include: What is operational resiliency? Why is technology so critical in this area? What is the intersection of operational resiliency and compliance? Should compliance and risk management be merged? From the headlines (1)-What did the Fed say? From the headlines (2) moving past financial services-Virtual Care Provider. What does all this mean for compliance professionals going forward? ResourcesMatt’s blog posts, both on Radical Compliance.Compliance Role in Operational Resiliency,Operational Resiliency Part II 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 Kelly and I go into the weeds about the recent DOJ announcement of the Procurement Collusion Strike Force (PCSF).  Some of the highlights include. Some of the highlights include:Ø  Why was the PCSF created?Ø  What will it focus on?Ø  Why does the funding (or lack thereof) matter?Ø  What do the twin DOJ announcements of the PCFS portend?Ø  Why are analytics more critical for compliance going forward?Ø  What are procurement red flags?Ø  What does all this mean for compliance professionals going forward?ResourcesMatt’s blog post, Brace for Procurement Compliance, on Radical Compliance.DOJ Press Release on PCSFPCSF website 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 Kelly and I go into the weeds on a recent academic paper by Stubben and Welch entitled, Are Secondhand Whistleblowing Reports More Credible. The authors reviewed data from the Navex Global data base of 2 million whistleblower reports from more than 1,000 companies from 2004 through 2017. Their findings have significant implications for CCO, GCs and Boards of Directors.Some of the highlights include: Why is this the first international podcast of Compliance Into the Weeds? What are the key differences between a first-hand whistleblower report and a secondhand report? Why are over 47% more second-hand reports substantiated than first-hand reports? Why do first-hand reports tend to be about actions against a person and secondhand reports be about things which happened to the organization? What are the implications for triage/investigations of first and secondhand reports? Is confirmation bias at work here? For additional reading see the following:Matt’s blog post, Study-Second Hand Reports More Reliable, on Radical Compliance.Stubben and Welch, Are Secondhand Internal Whistleblowing Reports Credible? 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 Kelly and I go into the weeds on issues raised around SOX compliance by internal audit functions in corporations and the use of tech solutions to improve things by a recent report of the SOX Professional Group. Some of the highlights include: Why is SOX compliance still ‘a big hassle’? A recent report by the SOX Professional Group found that internal audit is taking over more SOX reporting. Why has internal audit been asked to take over more of this role? Why would the SEC want to reduce award levels at the high end? What is the constituency for this position? The SOX Professional Group report noted that SOX compliance costs are increasing; why did an earlier Protiviti report show costs were ‘drifting downward’? Where are companies on the use of new tech solutions to facilitate SOX Compliance? Why are 73% of all companies still using Excel spreadsheet to report on SOX compliance? What role, if any, does internal audit have in cyber security? Why is cybersecurity not seen as a high risk from SOX reporting perspective? For additional reading see the following:Matt’s blog post, Report: SOX Compliance Still a Pain, on Radical Compliance. Learn more about your ad choices. Visit megaphone.fm/adchoices