FCPA Compliance Report Thomas Fox
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The FCPA Compliance Report is the longest running podcast in the in compliance and business ethics. Join 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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Mary Inman on DOJ Whistleblower Bounty Program
Welcome to the award-winning FCPA Compliance Report, the longest running podcast in compliance. In this edition of the FCPA Compliance Report, Tom welcomes back Mary Inman, partner at the newly formed Whistleblower Partners LLP. They talk about the new Department of Justice (DOJ) initiative to pay a bounty to whistleblowers.
Mary Inman is a well-recognized authority in the realm of whistleblowing programs. In this episode, she focuses on DOJ whistleblower program. Her perspective on the program is cautiously optimistic, acknowledging the potential gains in encouraging whistleblowers to disclose information about financial crimes and corruption. However, she has expressed concerns about certain aspects of the program’s design, such as excluding culpable whistleblowers and limiting the type of information that can be provided.
These viewpoints stem from her extensive experience and deep understanding of the complexities involved in implementing effective whistleblower programs. Drawing from her expertise, Inman also emphasizes the need for confidentiality and anonymity for whistleblowers, similar to the SEC program, suggesting that while the DOJ program is a positive step, careful consideration and potential revisions are required to ensure its effectiveness and fairness.
Key Highlights:
Financial Crime Whistleblower Reward Initiative
Promoting Transparency Through Compliance Officer Resignations
Whistleblower Protection for Mental Well-being
Resources:
Mary Inman on LinkedIn
Whistleblower Partner LLP
Tom Fox
Instagram
Facebook
YouTube
Twitter
LinkedIn
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Jonathan Wilson on the NSBU Decision
Welcome to the award-winning FCPA Compliance Report, the longest-running podcast in compliance.
In this edition of the FCPA Compliance Report, Tom welcomes back Jonathan Wilson, one of the country’s top experts on the Corporate Transparency Act. We dissect the court decision in the case of the National Small Business Union, which invalidated the CTA and what it might mean for the law going forward.
Jonathan Wilson is a well-respected figure in corporate transparency and has established an impressive body of work around the Corporate Transparency Act. He is the founder of FinCEN Report, a company that helps businesses and others comply with the CTA.
Wilson’s perspective on the Act hinges on his understanding of its legal implications and practical considerations, warning companies that, despite a recent district court decision, they are still required to meet filing obligations. We take a deep dive into the court opinion, how it applied (or misapplied) US law and explain the need for continued compliance with the law.
Even with this court decision, Wilson’s advice is clear, companies must continue with compliance efforts and fulfill their reporting requirements, as delays will not alter the facts or obligations of the Act. The invalidation of the CTA is only applicable to the named plaintiff in the Northern District of Alabama so all others must continue to comply with the law.
Key Highlights:
CTA Overturned—Is Interstate Commerce Affected?
What is the US National Security Interest?
Beneficial Owner Disclosure in Money Laundering
Senate Ratification of International Treaties
Navigating Legal Compliance in Competitive Business Environment
Resources:
Jonathan Wilson on LinkedIn
FinCEN Report
National Small Business Union decision
Tom Fox
Instagram
Facebook
YouTube
Twitter
LinkedIn
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Mike Lindsey on The CTA and NSBU Decision
Welcome to the award-winning FCPA Compliance Report, the longest-running podcast in compliance. In this edition of the FCPA Compliance Report, Tom welcomes back Mike Lindsey to discuss the Corporate Transparency Act. In a first for the FCPA Compliance Report, after the episode was recorded but before it was posted, the CTA was declared unconstitutional by a Trump appointed US District Judge. We recorded an addendum to consider this court decision invalidating the law.
Mike Lindsey, a distinguished corporate and transactional lawyer based at Steinbrecher & Span, has built a solid reputation as an authority on the CTA. Lindsey’s insights into the CTA are influenced by his emphasis on privacy and data security, highlighting the risks correlated with a centralized database potentially accessible via the dark web. From his perspective, the CTA serves as a critical federal law designed to increase transparency around beneficial ownership of corporations and inhibit illegal activities such as money laundering, tax evasion, and fraud. However, Lindsey also questions its effectiveness in disclosing ownership by entities like the Iran Revolutionary Guard. Despite this, he sees the CTA as a ground-breaking move for privately held companies, requiring them to report beneficial owners, something uncommon among small businesses in the United States. Ultimately, Lindsey views the CTA as an essential measure towards impeding financial crimes and enhancing accountability in corporate structures.
We also discuss the trial court decision in the case of the National Small Business Union, which invalidated the CTA and what it might mean for the law going forward.
Key Highlights:
Beneficial Ownership Disclosure Law
Key Players in Corporate Decision-Making
CTA Compliance Impact on Small Businesses
Federal Database Security Concerns
Illicit Financial Activities and National Security Measures
National Small Business Union decision
Resources:
Mike Lindsey on LinkedIn
Steinbrecher & Span
National Small Business Union
Tom Fox
Instagram
Facebook
YouTube
Twitter
LinkedIn
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2024 World’s Most Ethical Companies Awards
Welcome to the award-winning FCPA Compliance Report, the longest-running podcast in compliance. In this special Thursday edition of the FCPA Compliance Report, Tom welcomes Erica Salmon Byrne, Chief Strategy Officer and Executive Chair, at Ethisphere to discuss the announcement of the 2024 World’s Most Ethical Companies Designations and the new Ethics Premium.
Erica Salmon Byrne is a renowned figure in ethical business practices, recognized for her significant role in the annual announcement and recognition of the world’s most ethical companies. Byrne views this list as a crucial acknowledgment of companies globally that are making a positive impact, with representation across 20 countries and 44 industries. Her experiences in leading changes to the program’s methodology, such as introducing a third-party management category and a heightened focus on governance and culture, have shaped her perspective on the continuous evolution and improvement of the evaluation process. She sees the list as a valuable tool for companies to demonstrate their commitment to ethics and compliance and as a source of inspiration for others in the compliance community to strive for ethical excellence.
Key Highlights:
Global Recognition for Ethical Business Practices
Enhanced Scoring System Emphasizing Governance and Culture
Global Representation of Ethical Industry Leaders
Ethics Quotient Evaluation for Recognized Companies
Resources:
Erica Salmon Byrne on LinkedIn
Ethisphere
World’s Most Ethical Companies for 2024
Tom Fox
Instagram
Facebook
YouTube
Twitter
LinkedIn
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Seth Whitelaw on Navigating Life Sciences Compliance
Welcome to the award-winning FCPA Compliance Report, the longest running podcast in compliance. In this episode, Tom Fox welcomes Seth Whitelaw who has worked in life sciences compliance for over 30 years.
Seth Whitelaw is a seasoned lawyer and compliance officer with a specialization in drug law, particularly within the life sciences industry. He has a unique perspective on regulatory guidance updates in healthcare compliance, shaped by his experiences in developing compliance programs and teaching law. Whitelaw believes that despite technological advancements in healthcare compliance, the role of compliance officers remains crucial. He views them as a necessary check and balance within companies, akin to the role of government in society. Whitelaw emphasizes the importance of addressing industry criticisms and regulatory updates to prevent distractions and ensure companies can focus on their primary objectives. He is a strong advocate for compliance officers, recognizing their vital role in helping companies bring safe and effective products to market, thereby adding value to the companies they serve.
Key Highlights
· Tailored Compliance Consulting for Mid-Sized Companies
· Evolutionary Alignment for Effective Compliance Programs
· Data-Driven Healthcare Compliance Updates and AI Integration
· Enhancing Life Science Compliance with AI
Resources
Seth Whitelaw on LinkedIn
Whitelaw Compliance Group
Tom Fox
Instagram
Facebook
YouTube
Twitter
LinkedIn
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Tom Fox and Michael Volkov Look at Incentives for Self-Disclosure
Welcome to the award-winning FCPA Compliance Report, the longest running podcast in compliance. In this episode, Tom Fox welcomes back Michael Volkov as they take a deep dive into the ABB, Albemarle and SAP FCPA enforcement actions to try and unpack the DOJ’s pivot away from heavy penalties for recidivists to prioritizing self-disclosure above all else.
Volkov's perspective on the Department of Justice's (DOJ) FCPA enforcement actions is both critical and analytical, shaped by his extensive experience. He underscores the necessity of transparency and explanation in the factors considered by the DOJ, highlighting its significance to practitioners in the field. Volkov also recognizes the shift in DOJ policy towards data-driven compliance, requiring companies to provide data to substantiate their conclusions and demonstrate their compliance efforts. He further notes the evolving landscape of voluntary disclosure and remediation, suggesting these areas are now pivotal in the DOJ's enforcement approach. Volkov's insights reflect a nuanced understanding of the changing dynamics in FCPA enforcement and the imperative for companies to adapt to these shifts.
Key Highlights:
Importance of Cooperation in Corporate Enforcement Cases
Incentivizing Self-Disclosure in DOJ's FCPA Enforcement
Increased Penalty Reduction for Voluntary Self-Disclosure
DOJ's Evolving Approach to Corporate Penalties
Benefits of Voluntary Self-Disclosure in Enforcement
Resources:
Volkov Law Group
Corruption, Crime and Compliance
Tom Fox
Instagram
Facebook
YouTube
Twitter
LinkedIn
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