In the Episode, I visit with Podfest Expo founder Chris Krimitsos about the upcoming Podcast Global Summit, March 1-5. Podfest Global Summit is a gathering for those who are passionate about sharing their voice and message with the world through audio and video. Podfest Global has grown into a recurring, must-attend gathering that is now international, drawing creators from all over the world. You will see friendly faces and speakers who are experts in their field, delivering the most valuable, recent content from the virtual stage AND backstage. The programming, exhibitions and networking opportunities make this event a place for developing long-lasting, positive relationships for years to come. Highlights include What led to the March event; What makes the Podfest Global Summit the most unique event in the podcast arena; Why this is a must attend event for any podcaster; Be a part of this Guinness World Record setting event; Why paying it forward is a key part of the event and how you can do so; and Why you should join the Podfest Expo family. Recourses Join Tom and others at Podfest Global Summit at any time during March 1-5. Best all of listeners to this podcast can attend at no charge. Register here, using promo code CPN. Learn more about your ad choices. Visit megaphone.fm/adchoices

FCPA Compliance Report

Kris Krimitsos on Podfest Global Summit

In the Episode, I have back Philip Urofsky, a partner at Shearman & Sterling and editor of the firm’s FCPA Digest. Urofsky joins me to discuss the 2020 FCPA Digest and where anti-corruption enforcement may be headed in 2021.  Some of the highlights include: Intro of the Shearman and Sterling FCPA Digest. What is it? How is compiled and produced? 2020 saw total sanctions of approximately $8.24 billion, making 2020 a record-shattering year in terms of quantum of FCPA enforcement penalties. What does this mean going forward? There was growing cooperation between the FCPA enforcement agencies and other U.S. government entities, including OFAC and the CFTC. What might this mean for anti-corruption enforcement going forward? What might be the impact of CFTC enforcement of the FCPA going forward? Did the international cooperation and enforcement in the Goldman Sachs FCPA enforcement action by state agencies such as the New York DFS signal another type of increased cooperation in investigation and enforcement? Does the prosecution of Thomas Moyer Apple Global Head of Security, indicate a potential shift in the theoretical underpinnings of FCPA enforcement? Read in conjunction with the Relator’s actions in Opinion Release 20-01, might this signal a new approach to FCPA application? Will the application NDAA influence or even inform FCPA requirements around due diligence on third-parties which are shell companies? What, if any, changes to FCPA enforcement under the Biden Administration?  Resources Check out a copy of the Shearman & Sterling FCPA Digest here. Learn more about your ad choices. Visit megaphone.fm/adchoices

Philip Urofsky on Shearman & Sterling’s 2020 FCPA Digest

In the Episode, Mike Volkov turns the tables on me as he interviews me for a wide-ranging discussion about the new Justice Department leadership and the likely impact on enforcement and overall compliance. President Biden has nominated Merrick Garland and Lisa Monaco to head the U.S Department of Justice.  In addition, the Biden Administration has nominated a number of strong enforcement candidates to head up various regulatory agencies.  The implications of this new team across the government will be significant on various industry sectors. What do these developments and more mean for compliance enforcement and practice? Find out in this special episode. This podcast originally appeared on Crime Corruption and Compliance.  Learn more about your ad choices. Visit megaphone.fm/adchoices

Mike Volkov Turns the Tables

In the Episode, I have back Pamela Fierst-Walsh, Senior Advisor for Conflict & Critical Minerals, Bureau of Economic and Business Affairs, U.S. Department of State. Pamela joins me to discuss the responsible sourcing initiatives from the former Administration and where we may be headed under the Biden Administration.  Some of the highlights include: 1.      What are your job duties as a Senior Advisor for Conflict & Critical Minerals, Bureau of Economic and Business Affairs, U.S. Department of State? 2.     What is responsible sourcing? 3.     What is the public/private partnership around this issue? 4.     Why is this seen as a national security issue? 5.     Is there an Executive Order on domestic supply chains relying on critical mineral sourcing from foreign Adversaries? 6.     What is the process for considering this issue? Are there plans in the works to deal or remedy this? 7.     What, if any, changes do you expect under the Biden Administration? Learn more about your ad choices. Visit megaphone.fm/adchoices

Pamela Fierst-Walsh on Responsible Sourcing

In the Episode, I visit with Asher Miller, a Compliance Consultant and Business Law Expert. Miller advises some of Israel's major corporations in the areas of anti-corruption, anti-money laundering and compliance of all areas, while combining deep knowledge in international contracting, specializing in the government and defense sectors. Miller joins me to discuss the current state of compliance in Israel.  Some of the highlights include: What are the types of legal/compliance services offered by the Miller Law Group? Miller been at the forefront on the dangers of bribery and corruption for Israeli businesses. Does that message resonate with companies in Israel? How does Miller assess the state of anti-corruption/anti-bribery compliance in Israel? Miller has written about the lessons learned from the Goldman Sachs FCPA settlement and the Airbus international anti-corruption settlement in the FCPA Blog. Do those messages resonate to your clients/potential clients? Miller’s piece on Goldman Sachs had one of the greatest compliance lines ever, "Like in poker, if you can’t spot the fool around the table, it’s probably you." How did it relate to the Goldman settlement and what lesson should a compliance professional draw from it? How was the Teva FCPA settlement received by Israeli companies? Early in the Coronavirus Health Crisis Miller wrote the article “Corruption Compliance in COVID times – What’s the Exit Strategy?” We are now at 10 months later, has his assessment changed?  Resources Check out Miller’s law firm here. Learn more about your ad choices. Visit megaphone.fm/adchoices

Asher Miller on Doing Compliance in Israel

In the Episode, I visit with Doreen Edelman, chair of the Lowenstein Sandler Global Trade & Policy practice. She leads a unique team that combines global trade and policy expertise with cross-border M&A, technology, government contracts, white collar investigations, and business counseling practices to help clients develop strategies to minimize global business risks, increase compliance with U.S. requirements, and mitigate matters raised by U.S. regulatory agencies and the U.S. Department of Justice. Doreen joins me to bring us up-to-date on all things Committee on Foreign Investment in the United States (CFIUS) and where it is headed under the Biden Administration.   Some of the highlights include: Why do you want everyone in compliance to have some familiarity of CFIUS? Isn’t it just about foreign ownership? Is this just about China? Do you expect Biden to come in and have lots of changes? What if you have investors that are Limited Partnerships? When should company or investor start to consider CFIUS issues? Are there any exceptions? Is there a de minimus exception for small deals? What are the rules on a real estate purchase under CFIUS? Resources Doreen Edelman LinkedIn page Learn more about your ad choices. Visit megaphone.fm/adchoices

Doreen Edelman on CFIUS under the Biden Administration

In the Episode, I visit with James Koukios, partner at Morrison & Foerster, Editor-in-Chief of the firm’s Top 10 International Anti-Corruption Developments. We visit about the firm’s Top 10 International Anti-Corruption Developments for October 2020. Some of the highlights include: A record setting year in FCPA enforcement. Beam Suntory-how did things go so sideways from SEC enforcement to DOJ enforcement. Transparency International Report on International anti-corruption enforcement. The continued debate over DOJ interpretation of agency theories. Do the 2 amici sited in the newsletter present any new arguments? China considering changes to anti-corruption laws. What does this mean for Western companies and does it pose an increased risk?  Resources To a copy of the Top 10 International Anti-Corruption Developments for October 2020 Newsletter click here. Learn more about your ad choices. Visit megaphone.fm/adchoices

James Koukios on the MoFo Top 10 International Anti-Corruption Developments for October 2020

Today I have a special year end episode where I am interviewed by Kevin Foster for his show Everything Ethics, which he has graciously allowed me to cross-post. It is a free flowing conversation about ethics with some compliance thrown in. It was a ton of fun to visit with Kevin. You can check out more about Kevin and his ethics trainings on the Resources below.   Resources J. Kevin Foster LinkedIn Profile Business Ethics Advisors Learn more about your ad choices. Visit megaphone.fm/adchoices

Bonus Edition-Everything Ethics

In this episode, I am joined by Eric Young, recently retired long-time compliance professional. In a continuing series on the FCPA Compliance Report, Eric joins me to explore some of the key changes he observed in compliance and enforcement in the financial industry over the decade of 2010 to 2020.  Some of the highlights include:                             Greater and more visibility of bribery and corruption enforcement, particularly by the SEC against financial institutions. Much lower regulator tolerance for poor data governance, self-governance and self-regulation. An AML compliance program is a microcosm of what an enterprise-wide corporate compliance program should look like. Resources Eric Young on LinkedIn Learn more about your ad choices. Visit megaphone.fm/adchoices

Eric Young on Key Compliance & Enforcement Changes 2010 to 2020

In the Episode, I visit with James Koukios, partner at Morrison & Foerster, Editor-in-Chief of the firm’s Top 10 International Anti-Corruption Developments. We visit about the firm’s Top 10 International Anti-Corruption Developments for September 2020. Some of the highlights include: Brazil developments. Car wash to be extended? SEC Amends Rules Governing Whistleblower Awards. Why were they amended? Why has it become so important/powerful? Any chance new Administration or Congress would fix Supreme Court decisions in Kokesh and Digital Realty Trust? Sargent Marine FCPA enforcement action-a rare criminal prosecution against a company. Why are such cases so rare? The discount: what was the basis; what is the process for seeking such a discount? What types of evidence is required? Oil Trader Charged with Bribing Ecuadorian Officials.  Resources To a copy of the Top 10 International Anti-Corruption Developments for September 2020 Newsletter click here. Learn more about your ad choices. Visit megaphone.fm/adchoices

James Koukios on the MoFo Top 10 International Anti-Corruption Developments for September 2020

In this episode, I was pleased to visit with Fry Wernick and Mike Ward, both partners at Vinson & Elkins. We dissect the three biggest anticorruption enforcement actions: Airbus, J&F Investments and Goldman Sachs. Fry explains things from the government perspective and Mike takes a look at things from the in-house CCO or compliance professional perspective. Their collective insights were great and I know you will enjoy this episode:  I.  Airbus DOJ Perspective In this case, the UK and France took the lead in the investigation? What does this mean workload wise in the FCPA unit? There were claims other than FCPA violations investigated by the US. How, if at all, did those impact the FCPA investigation. What are some of the unique challenges in working with French prosecutors and theFrench blocking statute. How does the DOJ work thru the gross penalty with other countries? Company Perspective What does this case tell a compliance professional? What was the bribery scheme? What is the MO of the bad guys? What controls were discussed in the settlement documents? What company conduct was rewarded? II.  J&F Investments DOJ Perspective How do you evaluate something so massive, yet largely resolved by the time the DOJ takes the lead? How is it to work with Brazilian prosecutors? Does each large international investigation have its own character and cadence? Company Perspective This case had difficult corporate governance issues. Your M&A protocol needs to be in place but the risks from each transaction are bespoke. In many ways, the case was a testament to deep pockets. Pay attention to what is said in the resolution documents. III.  Goldman Sachs DOJ Perspective Obviously as the biggest FCPA prosecution ever, how does the Dept. work up such a case. Are there multiple prosecutors working up different aspects of the case? How do you coordinate both internationally and domestically with all the other regulatory bodies? What is the one pie concept and why is it so important? Company Perspective Why was there no monitor? Compliance needs to be persistent and persistently right. Why are compliance red flags also commercial red flags? Will clawbacks become the norm? For more information on Fry Wernick and Mike Ward and their practices, check out the Vinson & Elkins website here. Learn more about your ad choices. Visit megaphone.fm/adchoices

Fry Wernick and Mike Ward Dissect the Year’s 3 Biggest Anti-Corruption Cases

In this episode, I am joined by Don Stern, Managing Director at Affiliated Monitors and former US Attorney for Massachusetts. We discuss the 93 US Attorneys offices across the US; how they work, how are cases worked up and their interaction with Main Justice in Washington.  Some of the highlights include: What is the Dept of Justice structure including the US Attorneys? What is the role of a US Attorney? Is policy set at Main Justice in Washington and then carried out in offices across the country?  What is the relationship of the US Attorney offices to Main Justice? Does a US Attorney or the office decide to open an investigation or does the FBI or other investigative agency bring information to the US District Attorney and ask them to prosecute? If there is a prosecution of a Main Justice investigation, who staffs the matter at trial? How are cases worked up in US Attorney’s offices? Learn more about your ad choices. Visit megaphone.fm/adchoices

Don Stern on the US Attorney Offices

In this episode, I am joined by Eric Young, recently retired long-time compliance professional. We explore an under-looked aspect of the Goldman Sachs FCPA enforcement action; the independent enforcement actions by the Federal Reserve Bank and state of New York’s Department of Financial Services.  Some of the highlights include:                             Why was the Fed involved in the Goldman Sachs FCPA resolution? The Fed Order seemed critical of Goldman Sachs compliance function. Do you find this criticism warranted? Is the ongoing oversight of the Fed typical for this type of case? Why was the state the New York DFS involved in the Goldman Sachs FCPA resolution? What were the separate reporting obligations of the Goldman Sachs compliance function discussed in the DFS Order? Do such obligations exist at the federal level? Were the dates, timing and amounts of these 3 bond offerings red flags? Were the money laundering allegations in funding equally as troubling as the bribery and corruption?  Resources Federal Reserve Cease and Desist Order State of New York, Department of Financial Services Consent Order Learn more about your ad choices. Visit megaphone.fm/adchoices

Eric Young on the Fed and DFS Components of the Goldman Sachs Corruption Enforcement

The week of Thanksgiving is the time of our annual trip to the most beautiful and unique city on earth-Venice, Italy. With travel to Italy shut down this year due to Covid-19, I am visiting Venice virtually and mining this rich city for compliance lessons. This episode concludes my podcast series on how the city of Venice informs your internal reporting system. The symbol of Venice is the Lion of St. Mark. The use of this symbol led to the maxim ‘straight from the lion’s mouth’. This adage came about because the Republic of Venice had its own hotline system where citizens could report misconduct. A citizen could write down his concern on paper and literally put the message into the mouth of statues of lion heads placed around the City. This system was originally set up to be anonymous but later changed to require that a citizen had to write his name down when submitting a message. As podcast series on compliance lessons from Venice draws to an end, I am reminded how much the western world has to thank the Republic of Venice. From the forms of republican democracy that the US Founding Fathers drew from to helping to establish a world-wide trade and banking system which still reverberates today. But, if you look closer, ancient Venice had many good government techniques which also still inform the modern world. Straight from the lion’s mouth to your company’s internal reporting system is just one of them. Learn more about your ad choices. Visit megaphone.fm/adchoices

How the Lion’s Mouth Informs Your Internal Reporting System

The week of Thanksgiving is the time of our annual trip to the most beautiful and unique city on earth-Venice, Italy. With travel to Italy shut down this year due to Covid-19, I am visiting Venice virtually and mining this rich city for compliance lessons. Today's lesson come from the Arsenale and incentives in compliance. This is not a precursor to that famous north London football club, the Arsenal Gunners, but the district in Venice where one of the main commercial enterprises of the city took place, that being ship building and ship repair. At one point, the Arsenale employed almost 10% of the city’s workforce or 12,000 people.  I picked up some interesting compliance insights in learning more about the Arsenale. On the incentive side there were several mechanisms the City of Venice used to help make the Arsenale work force more loyal and desirous to stay in their jobs, all for the betterment of themselves and their city. The first was job security. The Arsenale was so busy for so many years that lay-offs were unheard of. Even if someone lost their job, through injury, mishap or worse; they received enough of compensation that they could live in the city. Finally, when a worker died, the company provided not only funeral expenses but would assist in taking care of the family through stipends or finding other work for family members. Learn more about your ad choices. Visit megaphone.fm/adchoices

Arsenale and Incentivizing Compliance

The FCPA Compliance Report is the longest running podcast in the in compliance and business ethics. Join its by its award-winning host, Tom Fox, the Voice of Compliance as he visits with top compliance practitioners, key figures from business, the government and law firms in the top podcast dedicated to all things compliance.

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FCPA Compliance Report

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