Category: Podcasts

13 Nov, 2023

Episode 297 — Susan Divers on LRN’s 2023 Program Effectiveness Report

LRN’s annual Program Effectiveness Report is chock full of important findings. Frankly, LRN’s PEI Report is a “board worthy” report (as Donna Boehme used to say — every board member should read it). Susan and Michael discuss several important findings in LRN’s 2023 Report: High-performing ethics and compliance programs rely principally on values to motivate and guide ethical and compliant behavior — LRN’s Report confirms again...

Podcasts

30 Oct, 2023

Episode 296 — Deep Dive into Clear Channel’s SEC FCPA Settlement

The Securities and Exchange Commission continues to rack up FCPA enforcement actions. In its latest settlement, Clear Channel Outdoor Holdings agreed to pay $26.1 million for bribery violations committed by its former Chinese subsidiary. According to Clear Channel, the Department of Justice closed its FCPA investigation. Clear Channel, a San Antonio-based advertising company, paid bribes to Chinese government officials with cash, gift cards, first-class travel,...

Podcasts

23 Oct, 2023

Episode 295 — Deep Dive into the Albemarle DOJ and SEC FCPA Settlement

Albemarle Corporation (Albemarle), a specialty chemicals manufacturing company located in Charlotte, North Carolina, agreed to pay more than $218 million to settle FCPA investigations with DOJ and the SEC stemming from bribery payments in Vietnam, Indonesia and India. Albemarle entered into a three-year non-prosecution agreement (“NPA”) with DOJ and agreed to pay a penalty of approximately $98.2 million and an administrative forfeiture of approximately $98.5...

Podcasts

16 Oct, 2023

Episode 294 — Catch Up on OFAC Enforcement Actions: 3M and Emigrant Bank

The past few weeks have not been kind to 3M. The company recently settled with the SEC for $6.5 million to resolve alleged FCPA violations related to its Chinese subsidiary’s dealings with Chinese state-owned healthcare institutions. Another federal agency, OFAC, yesterday announced that it had settled with 3M for $9.6 million over alleged violations of the Iranian Transactions and Sanctions Regulations. In another OFAC enforcement action, Emigrant Bank (“Emigrant”),...

Podcasts

9 Oct, 2023

Episode 293 — Catching Up with California and State Data Privacy Laws

The United States continues to suffer from the absence of a federal data privacy and breach law. Congress has tried for years to broker a deal here but has never been able to overcome strong lobbying forces — whether its high-tech, trial lawyers, law enforcement or other gadflies, the public continues to suffer. Instead, global businesses face a real mess, tracking data privacy laws state-by-state,...

Podcasts

2 Oct, 2023

Episode 292 — A Deep Dive into 3M’s SEC FCPA Settlement

The SEC is having a good year in prosecuting FCPA cases. The SEC’s recent settlement with 3M Corp. for $6.5 million is its seventh corporate resolution for the year. DOJ, which has been relatively quiet so far this year, recently resolved the Corficocolombiana case, its first for the year. 3M’s conduct centered on payments for Chinese healthcare officials employed by state-owned enterprises to attend overseas...

Podcasts

25 Sep, 2023

Episode 291 — Interview of Mary Shirley on Her New Compliance Book

Mary Shirley, a leading voice in the legal and compliance field, has just released her new book — Living Your Best Compliance Life: 65 Hacks & Cheat Codes to Level Up Your Ethics & Compliance Program. Order Mary’s New Book Here. Mary is a well-known advocate, speaker and compliance professional. She regularly speaks at Compliance events. She is mentor to the Compliance Profession. In this Episode,...

Podcasts

18 Sep, 2023

Episode 290 — Deep Dive into DOJ’s and SEC’s Corficocolombiana FCPA Settlement

The Department of Justice has been relatively quiet this year in announcing corporate FCPA enforcement actions and settlements. Aside from the Ericsson breach of its Deferred Prosecution Agreement, the Corficocolombiana (“Corfico”) and Grupo Aval settlement is the first in 2023 involving a corporate FCPA resolution. For the SEC, the Corfico and Grupo Aval settlement is the sixth corporate resolution in 2023. Corfico and its parent...

Podcasts

11 Sep, 2023

Episode 289: Justice, Commerce and Treasury Issue Joint Notice on Voluntary Disclosure

In another significant step notifying global businesses of the new realities – companies are about to face aggressive coordinated prosecutions for sanctions and export control violations. The last piece in launching this new effort was the announcement of a joint voluntary disclosure program to ensure alignment among the agencies for civil and criminal enforcement of such violations. The Joint Compliance Note (“JCN”) urges companies to...

Podcasts

4 Sep, 2023

Episode 288 — SEC Adopts Robust New Cybersecurity Disclosure Rules

In late July 2023, the Securities and Exchange Commission (“SEC”) adopted new rules requiring public companies to disclose cybersecurity incidents and cybersecurity governance policies and practice. The SEC largely adopted its original proposal issued in March 2022, with some modifications applicable to cybersecurity disclosure requirements. The SEC voted to adopt the new rules in a 3-2 vote. The new disclosure requirements however are effective no...