Category: Podcasts

Podcasts

2 Aug, 2020

Episode 154 — Artificial Intelligence, Data Risk Management: Interview of Christian Focacci from Steele Compliance Solutions

Steele Compliance Solutions announced the global rollout of its new “Risk Intelligence Data” platform.  Companies are suffering from information overload — with new technologies, companies can manage information to increase efficiency and accuracy in collecting and analyzing information needed for risk management purposes. Risk Intelligence Data involves the hybridization of over 5 million of highly trusted risk and compliance sources worldwide, spanning global financial crime...

Podcasts

26 Jul, 2020

Episode 153 — Mighty Amazon Falls to the OFAC Sword

Amazon joins the exclusive club of high-tech OFAC violators.  Last year, Apple settled with OFAC for sanctions violations.  This year, we can add Amazon to the list of OFAC violators. On July 8, 2020, Amazon settled with OFAC for $134,523 for violations of multiple OFAC sanctions programs.  Amazon’s violations stemmed from deficiencies from its sanctions screening processes.  As a result, Amazon provided goods and services:...

Podcasts

21 Jul, 2020

Episode 152 — Supreme Court Issues Two Important Decisions on Subpoenas for President Trump’s Financial Records

The Supreme Court, in two important decisions issued on the last day of the Term, rejected Trump and DOJ challenges to a New York Criminal Grand Jury subpoena and several Congressional subpoenas for Trump’s financial records. In a decisive ruling, in Trump v. Vance, the Supreme Court rejected by a 7-2 vote, President Trump’s challenges to a New York State grand jury subpoena.  In a separate case, Trump...

Podcasts

19 Jul, 2020

Episode 151 — Tom Fox and Michael Volkov Discuss the Revised FCPA Guidance

On July 2, 2020, DOJ and the SEC issued revised FCPA Guidance.  The Revised Guidance continues to be a valuable document, which contains important discussions of relevant cases, DOJ and SEC policies, and enforcement principles relating to the FCPA. In this Episode, Tom Fox and Michael Volkov discuss the Revised FCPA Guidance and highlight important changes and trends.

Podcasts

12 Jul, 2020

Episode 150: Review of Novartis False Claims Act and Anti-Kickback Settlements for $729 Million

Novartis is the new poster-child of corporate misconduct.  In the space of two weeks, Novartis settled domestic False Claims Act and Anti-Kickback violations for $729 million, and settled FCPA violations for foreign bribery for $337 million. In the domestic False Claims Act and AKS cases, Novartis resolved two separate cases: one for illegal payments made to three foundations used to pay for patients’ co-payments in...

Podcasts

5 Jul, 2020

Episode 149 — A Deep Dive into the Alexion’s SEC Settlement for $21 Million for FCPA Violations

Notwithstanding the pandemic and remote working arrangements, the Securities and Exchange Commission is continuing to bring FCPA enforcement actions.  In its latest action, the SEC settled with Alexion Pharmaceuticals for $21 million for foreign bribery and books and records violations.  In this Episode, Michael Volkov reviews the Alexion FCPA enforcement action and the lessons learned for compliance professionals.

Podcasts

2 Jul, 2020

Corporate Culture: Health and Safety (Part II of II)

Companies face a daunting challenge to reassure and regain trust and integrity with employees.  CEOs should view the current situation as an opportunity to improve a company’s culture by building on the company’s trust and integrity values. Aside from basic economic questions, companies have to ensure that employee health and safety are assured.  In this pandemic era and with the spread of disinformation by politicians,...

Podcasts

28 Jun, 2020

Episode 148 — A Review of the Novartis & Alcon FCPA Enforcement Action

Even during this difficult time of the pandemic, economic uncertainty and social unrest, the Justice Department and the SEC have concluded a major FCPA enforcement action.  Novartis and Alcon (which was a Novartis subsidiary at the time of the misconduct) agreed to pay a total of $345 million in criminal and civil penalties.  Novartis spun off Alcon in 2019. Under the DOJ settlement, Novartis and...

Podcasts

21 Jun, 2020

Episode 147 — DOJ’s Revised Compliance Guidance and Refocus of Merger and Acquisitions Risks

The Justice Department’s recent revisions to the Evaluation of Corporate Compliance Programs highlights an important trend and evolution of prosecution focus.  DOJ’s Revised Corporate Compliance Guidance recognized and reinforced the continuing focus on post-acquisition integration versus pre-acquisition due diligence.  For years, DOJ and compliance professionals placed significant emphasis on pre-acquisition due diligence.  This balance has been adjusted over the last ten years to raise the...

Podcasts

14 Jun, 2020

Episode 146 — A Deep Dive into DOJ’s Indictment of Four Executives for Chicken Industry Price-Fixing Conspiracy

The Justice Department’s Antitrust Division recently announced the indictment in Colorado federal court of four executives from two chicken producer companies for participation in a long-running price-fixing and bid-rigging conspiracy in the sale of broiler chickens to grocers, fast-food companies and other sellers of chicken products. In this episode, Michael Volkov reviews the indictment, the factual allegations and reviews antitrust compliance lessons learned.

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