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Compliance Man Goes Global - Episode 8: Tough Questions

by Thomas Fox on

Welcome to Episode 8 of Compliance Man Goes Global podcast of FCPA Compliance Report International Edition. In this episode, we will focus on tough questions, which Compliance officers need to address. We will explore this...more

Day 16 of 31 Days to a More Effective Compliance Program-the Third-Party Risk Management Process

by Thomas Fox on

As every compliance practitioner is well aware, third parties still present the highest risk under the Foreign Corrupt Practices Act (FCPA). The Department of Justice Evaluation of Corporate Compliance Programs devotes an...more

Day 15 of 31 Days to a More Effective Compliance Program-How Do You Evaluate a Risk Assessment?

by Thomas Fox on

After you complete your risk assessment, you must then translate it into a risk profile, as Rick Messick has noted, to estimate where bribery is likely occur, so prevention efforts will be properly targeted. Ben Locwin...more

Day 14 of 31 Days to a More Effective Compliance Program- Risk Assessments

by Thomas Fox on

One cannot really say enough about risk assessments in the context of an anti-corruption program. Since at least 1999, in the Metcalf & Eddy enforcement action, the DOJ has said that a risk assessment, which measures the...more

Day 13 of 31 Days to a More Effective Compliance Program

by Thomas Fox on

In the Department of Justice’s Evaluation of Corporate Compliance Programs, Prong 8 Incentive and Disciplinary Measures it states: Incentive System – Consistent Application – Have the disciplinary actions and incentives been...more

Day 12 of 31 Days to a More Effective Compliance Program-Financial Incentives for Compliance

by Thomas Fox on

One of the areas that many companies have not paid as much attention to in their compliance programs is compensation. However, the DOJ and SEC have long made clear that they view monetary structure for compensation, rewarding...more

This Week in FCPA-Episode 84, the Playoffs are Here (for the Patriots) edition

by Thomas Fox on

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...more

Across the Board-Episode 12, Prudent Discharge of Board Compliance Obligations

by Thomas Fox on

In this episode I consider the obligations of a Board of Director's for a compliance program and how them may prudently discharge that obligation under Delaware case law, SEC regs, US Sentencing Guidelines and the Ten...more

Day 15 of 31 Days to a More Effective Compliance Program-How Do You Evaluate a Risk Assessment?

by Thomas Fox on

After you complete your risk assessment, you must then translate it into a risk profile, as Rick Messick has noted, to estimate where bribery is likely occur, so prevention efforts will be properly targeted. Ben Locwin...more

FINRA Targets ICOs and Digital Currencies in Annual Broker Exam Priorities Letter

by Goodwin on

On January 8, 2018, the Financial Industry Regulatory Authority (FINRA) released its 2018 Annual Regulatory and Examination Priorities Letter (Exam Priorities Letter) for its broker-dealer members. In the Exam Priorities...more

Compliance into the Weeds-Episode 65-The Trouble with Non-GAAP Metrics

by Thomas Fox on

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"...more

Day 10 of 31 Days to a More Effective Compliance Program-The Use of Social Media in Compliance

by Thomas Fox on

What is the message of compliance inside of a corporation and how it is distributed? In a compliance program, the largest portion of your consumers/customers are your employees. Social media presents some excellent mechanisms...more

Compliance Report-International Edition, RS Legal Strategies

by Thomas Fox on

Today, I visit with Mark Rainsford and Jason Sugarman, principals with RS Legal Strategies which is a pioneering Queen’s Counsel led business focusing on criminal investigations, fraud and legal strategy. ...more

Day 9 of 31 Days to a More Effective Compliance Program-360 Degrees of Compliance Communications

by Thomas Fox on

A 360-degree view of compliance is an effort to incorporate your compliance identity into a holistic approach so that compliance is in touch with and visible to your employees at all times. It is about creating a distinctive...more

Bridging the Week - January 2018

CFTC Issues Explanation of Its Oversight and Approach to Virtual Currency Markets; Texas Securities Board Enjoins Initial Coin Offering: The Commodity Futures Trading Commission issued a “Backgrounder” last week, summarizing...more

Day 8 of 31 Days to a More Effective Compliance Program-Internal Controls and Compliance

by Thomas Fox on

The DOJ and SEC, in the 2012 FCPA Guidance, stated, “Internal controls over financial reporting are the processes used by compa¬nies to provide reasonable assurances regarding the reliabil¬ity of financial reporting and the...more

FCPA Compliance Report-Episode 365, David McLaughlin on QuantaVerse’s new Chief Audit Check Up

by Thomas Fox on

In this episode, I visit with QuantaVerse CEO/Founder David McLaughlin on the company’s new tool, the Chief Audit Checkup service, which leverages the QuantaVerse AI Financial Crime Platform to analyze enterprise data and...more

Day 7 of 31 Days to a More Effective Compliance Program– Policies and Procedures

by Thomas Fox on

There are numerous reasons to put some serious work into your compliance policies and procedures. They are certainly a first line of defense when the government comes knocking. The 2012 FCPA Guidance made clear that “Whether...more

Day 5 of 31 Days to a More Effective Compliance Program-The Board and Operationalizing Compliance

by Thomas Fox on

What is the role of a company’s Board of Director as laid out in the Evaluation of Corporate Compliance Programs? In an area of inquiry entitled, “Oversight” the DOJ asked three basic questions. Under Prong 2, Senior and...more

Across the Board-Episode 11, GE and Ghost Jets

by Thomas Fox on

In this episode, Richard Lummis and I consider the recent revelations which came to light during the tenure of the former Chief Executive Officer, Jeff Immelt, and the saga of GE's ghost jets. Immelt had an empty plane fly...more

Day 4 of 31 Days to a More Effective Compliance Program-Moving Compliance Tone Down Through an Organization

by Thomas Fox on

The Evaluation of Corporate Compliance Programs makes clear, a company must have more than simply at good ‘Tone-at-the-Top’; it must move down through the organization from senior management down to middle management and into...more

SEC Enforcement Division Announces its 2018 Priorities and 2017 Results

The Securities and Exchange Commission’s Division of Enforcement (the “Division”) has published its annual report for fiscal year 2017 (the “Report”). The Report discusses the Division’s key initiatives and results in 2017...more

Compliance into the Weeds-Episode 64, a look into 2018 issues

by Thomas Fox on

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. ...more

Day 3 of 31 Days to a More Effective Compliance Program- Leadership’s Conduct at the Top

by Thomas Fox on

Under the Evaluation of Corporate Compliance Programs, Prong 2, it states: Senior and Middle Management Conduct at the Top – How have senior leaders, through their words and actions, encouraged or discouraged the type of...more

Day 2 of 31 Days to a More Effective Compliance Program-Measuring your risk

by Thomas Fox on

Operationalizing your compliance program can take many shapes and forms. Using the entire risk management process to embed your compliance program within the contours of your organization is an important, key step as it will...more

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