Compliance into the Weeds

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 and Matt look at the Trump Organization Monitor and Independent Director of Compliance required in the trial court Order. The topic of internal controls within the Trump Organization has recently come under scrutiny, with the need for improved financial practices and systems of accounting control becoming increasingly apparent. Tom views internal controls as the backbone of financial reporting and compliance. He points out the inconsistencies and errors in the Trump Organization's financial disclosures, emphasizing the need for accurate certifications and attestations about the organization's financial health. Similarly, Matt underscores the importance of consistent and accurate financial disclosures. He raises concerns about the lack of basic financial controls within the Trump Organization and sees the need for a significant overhaul of internal controls to ensure transparency, accuracy, and compliance with financial reporting standards. Both Fox and Kelly's perspectives are shaped by their extensive experience in the field of compliance and their understanding of the critical role internal controls play in maintaining financial integrity. Key Highlights·      Compliance Monitor's Oversight in Fraud Detection·      Navigating Financial Compliance in the Trump Organization·      Implementing Effective Accounting Control Systems at Trump·      Enhancing Financial Integrity in the Trump OrganizationResourcesMatt on Radical ComplianceTom  InstagramFacebookYouTubeTwitterLinkedIn 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 go down a rabbit hole regarding the SEC waiving penalties for messaging app violations.The Securities and Exchange Commission (SEC) has been making headlines for its crackdown on broker dealers who violate record-keeping rules by using off-channel messaging apps like WhatsApp or Snapchat. This has led to hefty fines, yet the SEC has been granting waivers to these same firms, allowing them to continue operating in the securities world. This paradoxical approach has raised eyebrows, including those of Tom Fox and Matt Kelly. Fox finds the SEC's actions both curious and concerning. He believes that if a waiver program exists, it should be publicly announced and the reasons for granting waivers should be transparent to ensure appropriate scrutiny. Kelly, on the other hand, expresses surprise and disappointment at the lack of transparency from the SEC, suggesting that the waiver program and its reasons should be made clear to the public. Find out more in this fascinating edition of Compliance into the Weeds.Key Highlights: SEC Sanctions for Off-Channel Messaging Violations SEC Enforcement and Waivers for Internal Violations Cracking down on Off Channel Communications The Need for Public Announcements in SEC Enforcement ResourcesMatt on Radical Compliance Tom  InstagramFacebookYouTubeTwitterLinkedIn 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 and Matt take a deep dive into the seeming inconsistency in approaches to monitorships (or lack thereof) in two recent DOJ enforcement actions involving eBay and SAP. The Department of Justice's (DOJ) seemingly inconsistent approach to corporate enforcement and compliance monitoring has been a topic of much debate and confusion. Or has it? This inconsistency is particularly evident in the assignment of compliance monitors and CCO certification, as seen in the contrasting cases of eBay and SAP. Does the DOJ have a contradictory approach? What are the criteria for assigning monitors? Are local U.S. Attorneys may be following their own agendas, leading to this inconsistency. Is there a lack of logic and effectiveness in the DOJ's policies. To delve deeper into this issue, join Tom Fox and Matt Kelly in this episode of the Compliance into the Weeds.Key Highlights·      Effectiveness and Consistency of Compliance Monitors·      Incentivizing self-disclosure and remediation in corporate enforcement·      Inconsistent assignment of monitors based on misconduct·      Inconsistent enforcement practices by U.S. AttorneysResourcesMatt on Radical ComplianceTom  InstagramFacebookYouTubeTwitterLinkedIn 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 take a deep dive into a payments and internal controls miasma involving actors Tom Holland and Tom Hollander.The recent incident involving British actor Tom Hollander, who accidentally received a payment intended for Tom Holland due to a mix-up at their shared talent agency, has brought to light the critical importance of robust accounting controls for payments. Tom emphasizes the need for a second set of eyes to oversee payments and ensure they are going to the correct recipients. He suggests that smaller organizations can implement human review controls, while larger ones may need to rely on technology such as robotic process automation. Matt is highlighting the potential legal and regulatory consequences of sending payments to the wrong recipients. He stresses the need for organizations to demonstrate to regulators that errors are rare and accidental and that they have effective assurance processes in place. Join Tom Fox and Matt Kelly as they delve deeper into this topic in the latest episode of Compliance into the Weeds.Key Highlights: Payment Mix-up Highlights Importance of Internal Controls Error Prevention and Correction in Payments Mitigating Compliance Risks with Internal Controls Resources:Matt on Radical ComplianceTom InstagramFacebookYouTubeTwitterLinkedIn 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 take a deep dive into the recent SEC enforcement action for pre-taliation against JPMorgan and what it means for whistleblower programs going forward.The Securities and Exchange Commission (SEC) has been ramping up fines for companies found guilty of retaliation, as evidenced by the recent JP Morgan securities case, which resulted in an $18 million sanction. This development underscores the importance of compliance and the need for companies to protect individuals’ rights to report misconduct. Tom views this as a significant shift, expanding the range of individuals who may be affected by retaliation claims. He predicts a broader legal discussion and increased protection for those who bring claims related to misconduct. Matt emphasizes the need for companies to be proactive in preventing retaliation. He points out that enforcement has been increasing since 2016 and that companies should already be aware that they cannot restrict employees from reporting wrongdoing to the SEC. Join Tom Fox and Matt Kelly as they delve deeper into this topic on the Compliance into the Weeds podcast.Key Highlights: The underlying facts Expanding Retaliation Risk in Corporate Settings Retaliation Clauses and Whistleblower Protection CBRE’s Swift Remediation Efforts and SEC Settlement Resources:Matt on Radical Compliance Tom  InstagramFacebookYouTubeTwitterLinkedIn 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 and Matt take a deep dive into the recent Foreign Corrupt Practices Act (FCPA) enforcement action involving the ERP software giant SAP. The recent $220 million fine imposed on German software giant, SAP, for violations of the FCPA underscores the critical role of internal audits in maintaining corporate compliance. Despite having a comprehensive FCPA compliance program, SAP's lack of control over its subsidiaries led to bribery activities, a situation that Tom and Matt believe could have been prevented with a robust internal audit function. Fox emphasized the need for strong internal audits to identify and address issues within different parts of an organization. Similarly, Kelly, underscored the importance of internal audits in identifying and rectifying control lapses. To delve deeper into this topic and understand the implications of the SAP case, join Tom Fox and Matt Kelly on this episode of the Compliance into the Weeds. Key Highlights·      The bribery schemes and geographic scope·      What is culture?·      Third parties and corruption risks·      The fine and penalty·      The comeback·      Lessons learned for the compliance professionalResourcesMatt on Radical ComplianceTom  Tom on the FCPA Compliance and Ethics BlogInstagramFacebookYouTubeTwitterLinkedInFor more information on Ethico and a free White Paper on top compliance issues in 2024, click here. 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 sanctions compliance? Look no further than Compliance into the Weeds! In this episode, Tom and Matt take a deep dive into the recent FTC enforcement action involving Rite-Aid and its inappropriate use of AI-generated facial recognition.The adoption of AI technologies, as demonstrated by the Rite Aid case, underscores the critical need for robust compliance oversight. This case, involving the use of AI-driven facial recognition technology, resulted in compliance risks and a high rate of false positives, highlighting the potential pitfalls of AI technologies when not properly managed. Tom emphasized the importance of a comprehensive process to assess, manage, and monitor the risks associated with new technologies. He believes that collaboration among different stakeholders is key to understanding and mitigating potential risks. Matt stressed the need for careful consideration of how new technologies will impact business processes and the importance of correct governance from both a technical and human perspective. Join Tom Fox and Matt Kelly in this episode of the Compliance into the Weeds podcast as they delve deeper into the importance of robust governance in adopting AI technologies.Key Highlights: The Impact of AI Facial Recognition Technology Concerns of AI Facial Recognition and Racial Profiling Issues with AI Facial Recognition Training Collaborative Risk Management for AI Implementation Resources:Matt Kelly on LinkedInMatt on Radical Compliance Tom  InstagramFacebookYouTubeTwitterLinkedIn 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 sanctions compliance? Look no further than Compliance into the Weeds! In this episode, Tom and Matt take a deep dive into issues Matt has on his radar for compliance professionals in 2024.Matt Kelly is well known for zigging when everyone else is zagging. At the start of each year, he publishes a column that looks at key issues for compliance professionals in the year ahead. This podcast takes a deep dive into these issues. The rapidly evolving landscape of AI, cybersecurity, and governance is increasingly shaped by regulatory and compliance trends. In this context, industry experts Tom Fox and Matt Kelly offer insightful perspectives. We consider governmental oversight of AI, with more specific AI regulations in 2024, while also highlighting the potential of AI integration into compliance products and platforms. We also look at issues with the SEC, PCAOB, and DOJ.  Join Tom Fox and Matt Kelly as they delve deeper into these topics in this episode of the award-winning Compliance into the Weeds.Key Highlights: FEPA and its enforcement NOCLAR and the PCAOB SEC v. Solar Winds and its CISO AI-Regulation and Business Use SEC right to disgorgement  Resources:Matt Kelly on LinkedInMatt on Radical ComplianceTom  InstagramFacebookYouTubeTwitterLinkedIn 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 sanctions compliance? Look no further than Compliance into the Weeds! In this episode, Tom and Matt take a deep dive into the Foreign Extortion Prevention Act (FEPA), a groundbreaking law that aims to combat corruption by criminalizing foreign government officials who solicit or accept bribes from US entities.This law complements the Foreign Corrupt Practices Act (FCPA), which penalizes companies for offering bribes, and introduces new challenges and implications for anti-corruption measures. Tom views FEPA as a long-overdue measure that fills a gap in anti-corruption efforts. He agrees with Matt emphasizes that FEPA addresses a long-standing concern of anti-corruption advocates. Both Fox and Kelly anticipate further guidance from the Department of Justice on how this new law will interact with existing measures under the FCPA. Join Tom Fox and Matt Kelly as they delve deeper into this topic in the latest episode of the Compliance into the Weeds podcast. Key Highlights: Combating Foreign Corruption: FIFA's Powerful Impact Implications of FIFA Cooperation on FCPA Prosecution Extradition Challenges in FIFA Corruption Cases The Impact of the Name and Shame List Resources:Matt Kelly on LinkedInTom InstagramFacebookYouTubeTwitterLinkedIn 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 sanctions compliance? Look no further than Compliance into the Weeds! In this episode, Tom and Matt take a deep dive into data analytics and highlight the Bank Of America CFPB enforcement action for failures in a data analytics program.The recent congressional testimonies of university presidents from Harvard, MIT, and the University of Pennsylvania have ignited a heated debate over their handling of anti-Semitism and discrimination on campuses. Tom criticizes the presidents for their lack of moral clarity and empathy in their responses to questions about anti-Semitism on campus. He emphasizes the crucial role of chief compliance officers in guiding ethical leadership and decision-making in such sensitive situations. Matt echoes Fox's sentiments, stressing the importance of empathy, moral clarity, and ethical values in addressing and preventing campus discrimination. He criticizes the presidents for their inability to effectively express these qualities in their responses to questions about discrimination policies. Join Tom Fox and Matt Kelly as they delve deeper into this issue on this episode of Compliance into the Weeds.Key Highlights Fallout from Private College Testimony on Anti-Semitism Navigating Multiple Stakeholders in Universities The Power of Wealthy Donors and Alumni The Role of Empathy in Ethical Leadership Resources:Matt Kelly on LinkedInTom InstagramFacebookYouTubeTwitterLinkedIn Learn more about your ad choices. Visit megaphone.fm/adchoices