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 Kelly and Tom Fox take a look the recent enforcement action by New York banking regulators against Deutsche Bank, which resulted in a $150 million penalty for its business dealings with Jeffrey Epstein. The matter is full of corporate miss-steps, compliance failures, corporate governance disasters and presents a cautionary tale for every compliance professional. ResourcesSee Matt’s blog post, Deutsche Bank’s Many Epstein Failures on 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 Tom Fox take a look the recently released FCPA Resource Guide, 2nd edition; released jointly last week by the Department of Justice and Securities and Exchange Commission.ResourcesFrom Tom, check out his five part blog post series on the new FCPA Resource Guide on the FCPA Compliance and Ethics Blog.For a copy of the FCPA Resource Guide, 2nd edition, click here. 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 Tom Fox take a look the recently announced Novartis FCPA enforcement action. We discuss the background facts, bribery schemes, fines and penalties, data analytics approach and conclude with lessons learned. ResourcesFrom Matt, Novartis Settles FCPA Case for $345 MillionFrom TomPart 1-IntroductionPart 2-the Bribery SchemesPart 3-Internal ControlsPart 4-Fines, Penalties and Recidivism 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 Tom Fox take a look this week’s United States Supreme Court decision in Liu v. Securities and Exchange Commission, which upheld the SEC remedy of profit disgorgement. We consider the background facts of the case and how the Court reached its decision. We also consider what the decision might mean for FCPA enforcement and compliance professionals going forward. For a copy of the decision in Liu v. SEC, click here. Learn more about your ad choices. Visit megaphone.fm/adchoices

In this special emergency weekend episode (our first) Matt Kelly and Tom Fox take a deep dive into the attempt by AG William Barr to fire the US Attorney for the Southern District of New York, late on the evening of June 19. We consider its legality, what it means for both the SDNY, SEC and white-collar law enforcement going forward.  Resources See Matt Kelly blog post on Radical Compliance, Turmoil for SEC, SDNY LeadershipBarr tries to fire US Attorney for SDNY. (NYT)Jay Clayton nominated as new Attorney for SDNY. (CoinDesk)Berman says will not step down. (WaPo)Barr does not have authority to fire Berman under Court order appointing him. (Law and Crime) 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 Tom Fox take another deep dive into the Wynn Monitor report. Today we consider the issues around third parties; including vendors in the Supply Chain and the rigor of the approval process and role of the corporate compliance function and CCO. We also discuss how customers and especially high rollers are treated.  ResourcesSee Matt Kelly blog post, Wynn Part 2: Third-Party Oversight 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 Tom Fox take a look at two examples of ham-fisted leadership; one by Facebook CEO Mark Zuckerberg and the second by NFL Commissioner Roger Goodell. Both also had to respond to employee near revolts over their poor leadership. For Zuckerberg it was his refusal to stop President Trump’s incendiary and race-bait tweeting. For Goodell, it was lack of acknowledge of the racist murder of George Floyd.ResourcesSee Matt Kelly blog post, Two Tales of Ham-Fisted Leadership 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. This past weekend saw some of the largest protests and violence this country has seen in 50+ years in the wake of the killing of George Floyd. In a very somber episode, in this podcast Matt Kelly and Tom Fox try to make some sense of leadership responses to the protests over the Floyd killing and explore if there is a compliance-based approach to remedying the institutional racism which led to his killing.ResourcesA good general summary of anti-racism resources:https://docs.google.com/document/d/1BRlF2_zhNe86SGgHa6-VlBO-QgirITwCTugSfKie5Fs/preview?pru=AAABcnb5mB8*DxXs7K_umbRHlS1kzEln3gA website that gives you specific bail funds for your city: The Bail Project, a nonprofit that aims to mitigate incarceration rates through bail reform.https://bailproject.orgOther places to donate:Black Visions Collective, a black, trans, and queer-led social justice organization and legal fund based in Minneapolis-St. Paul.https://www.blackvisionsmn.org/aboutThe Minnesota Freedom Fund, which pays criminal and immigration bail and bond for people who cannot afford it.https://minnesotafreedomfund.org/bailbondfaqThe Brooklyn Bail Fund, which helps pay bail for those who cannot afford it.https://brooklynbailfund.org/donation-formThe NAACP Legal Defense Fund, which supports racial justice through advocacy, litigation, and education.https://www.naacpldf.org/about-us/Communities United Against Police Brutality, which operates a crisis hotline where people can report abuse; offers legal, medical, and psychological resource referrals; and engages in political action against police brutality.https://www.cuapb.org/what_we_doNorthstar Health Collective, a St. Paul–based organization that provides health services and support at protests.https://northstarhealth.wordpress.com/about-us/The ACLU, which provides legal services and support for a broad range of people with civil rights complaints.https://www.aclu.org/issues/racial-justice 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 how business leaders can demonstrate values during times of difficulty, specifically when the CEO of Airbnb was required to layoff nearly 25% of the company’s workforce.Some of the highlights include: How can tone at the top be so critical during the coronavirus health crisis and economic dislocation? Airbnb’s CEO Brian Chesky’s communication to employees. How does clarity and certainty in Brian Chesky’s letter help make the layoffs more palatable? Why are personal meetings so critical? Why is dignity to a RIF’d employee so critical? What can the compliance professional learn from this experience? How (and why) was the Weight Watchers massive layoff so different? See Matt Kelly blog post Demonstrating Values During Difficulties on 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 podcast Matt Kelly and Tom Fox take a deep dive into the attestation required by the Commonwealth of Massachusetts for businesses eligible to reopen in response to Covid-19.Some of the highlights include: What is the attestation requirement? What policies and procedures are a company mandated to have to reopen? What training must a company give its employees? What is the four-phase plan that Massachusetts will implement to effect reopening? What has been the decision-making process of the Massachusetts Governor Charlie Baker? When will sports reopen in Boston? See Matt Kelly blog post Massachusetts Covid-19 Attestation on Radical Compliance. Learn more about your ad choices. Visit megaphone.fm/adchoices