• Compliance into the Weeds

  • By: Tom Fox
  • Podcast

Compliance into the Weeds

By: Tom Fox
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  • Summary

  • What happens when two compliance aficionados get together to talk all things compliance, risk management and ERM? You get Tom Fox, the Voice of Compliance and Matt Kelly, the Coolest Guy in Compliance, going into the weeds of a topic each week. Each week, you can take a deep dive with two of the top writers, thinkers and prognosticators in compliance.
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Economics Management Politics & Government
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Episodes
  • Leadership Lessons from The Washington Post’s Non-Endorsement

    Leadership Lessons from The Washington Post’s Non-Endorsement
    Oct 30 2024
    The award-winning Compliance into the Weeds is the only weekly podcast that takes a deep dive into a compliance related topic, literally going into the weeds to more fully explore a subject. Looking for some hard-hitting insights on compliance? Look no further than Compliance into the Weeds! In this episode, Tom Fox and Matt Kelly take a deep dive into the recent events at the Washington Post, where the newspaper decided not to endorse a presidential candidate for the first time in years. This decision, directed by owner Jeff Bezos, has led to significant backlash, including 200,000 lost subscribers and concerns about the paper’s principles. Matt and Tom discuss the implications of this move on leadership, company values, and stakeholder trust, providing insights into the governance structure of newspapers and the potential fallout of abandoning established principles. We also turn to company values and if you are going to violate them, there should be sufficient justification. Finally, what a second Trump Administration might mean for corporate compliance. Key Highlights: Washington Post’s Controversial Decision Newspaper Governance Explained Washington Post’s Mission and Principles Leadership Failures and Consequences Potential Future Implications Resources: Matt in Radical Compliance Tom Instagram Facebook YouTube Twitter LinkedIn Learn more about your ad choices. Visit megaphone.fm/adchoices
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    27 mins
  • Unveiling RTX's Costly Compliance Failures and Corporate Misconduct

    Unveiling RTX's Costly Compliance Failures and Corporate Misconduct
    Oct 23 2024
    The award-winning Compliance into the Weeds is the only weekly podcast which takes a deep dive into a compliance related topic, literally going into the weeds to more fully explore a subject. Looking for some hard-hitting insights on compliance? Look no further than Compliance into the Weeds! In this episode, Tom Fox and Matt Kelly take a deep dive into the RTX Foreign Corrupt Practices Act enforcement action. Their discussion unveils complex bribery schemes involving millions paid to Qatari agents and the family of the Emir to secure defense contracts. Despite strict regulatory oversight, Raytheon’s (now RTX) compliance missteps spanned from 2012 into the 2020s, resulting in massive fines. Matt and Tom scrutinize these failures, detailing the SEC and DOJ’s mandates for dual monitorships due to violations of the False Claims Act and FCPA and the Board’s critical role in addressing these issues. Additionally, a comparative look at other significant FCPA cases, including Moog’s penalties for bribery in India, highlights persistent corporate misconduct and the ongoing challenges in achieving effective corporate compliance. Key Highlights: Overview of Raytheon’s Violations Qatari Agent and Further Corruption Raytheon’s Compliance Failures Management and Compliance Failures Board Oversight and Responsibilities Reflections on Compliance and Enforcement Resources 1. Blogs Matt in Radical Compliance 2. Tom Instagram Facebook YouTube Twitter LinkedIn Learn more about your ad choices. Visit megaphone.fm/adchoices
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    25 mins
  • Adventures in Squeezing Out Compliance - TD Bank's Flat Cost Paradigm

    Adventures in Squeezing Out Compliance - TD Bank's Flat Cost Paradigm
    Oct 16 2024
    The award winning, Compliance into the Weeds is the only weekly podcast which takes a deep dive into a compliance related topic, literally going into the weeds to more fully explore a subject. Looking for some hard-hitting insights on compliance? Look no further than Compliance into the Weeds! In this episode Tom Fox and Matt Kelly take a deep dive into the TD Bank BSA and AML enforcement action which led to $3bn in fines and penalties. In this episode, Tom and Matt discuss TD Bank's conscious strategy of not raising the budget, known as the Flat Cost Paradigm or Zero Expense Growth Paradigm and how this completely strangled the Bank’s compliance and AML functions. This tactic aimed to increase profits by keeping expenditures flat year after year. The impact of this strategy is particularly evident in the global AML team's expenditures on the U.S. anti-money laundering program, which decreased by 2021 compared to 2018. Despite significantly growing U.S. assets and net income, the bank refrained from increasing its budget for essential programs, a fact highlighted in the Justice Department indictment. The Bank’s strategy is a clear warning when a business puts profits over compliance. Key Highlights · Introduction to the Flat Cost Paradigm · Details of the Budget Strategy · Impact on Anti-Money Laundering Efforts · Financial Growth Amidst Budget Constraints Resources 1. Blogs Matt in Radical Compliance Tom in the FCPA Compliance and Ethics Blog 2. Tom Instagram Facebook YouTube Twitter LinkedIn 3. Enforcement Related Material A. OCC OCC Press Release Consent Order Civil Money Penalty B. DOJ TD Bank US Holding Company Information TD Bank N.A. Information TD Bank US Holding Company Plea Agreement and Attachments TD Bank N.A. Plea Agreement and Attachments Merrick Garland Remarks Nicole Argentieri Remarks Learn more about your ad choices. Visit megaphone.fm/adchoices
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    25 mins

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