WEBINAR: Q2 2019 Compliance, Risk, and Regulation Roundtable Discussion Featuring Tom Fox, Jonathan Marks, and Sean Freidlin July 17, 2019
Our Speakers Jonathan Marks Tom Fox Partner at Baker Tilly The Compliance Evangelist 30+ years of experience ● in global and complex 35+ years of experience ● corporate investigations Leading expert on FCPA ● and compliance matters Published 16 books, ● CPA, CFE, and and CFF ● including The Compliance Handbook FCPA Compliance & ● Ethics Blog Sean Freidlin Founder of Compliance ● Marketing at Hanzo Podcast Network Moderator and host ● 5 years of experience ● Compliance product ● development and marketing
About this Webinar AGENDA ● Q2 2019 Regulatory Updates + ○ News: DOJ & OFAC Compliance Market Trends + ○ New Research: Ethisphere, NAVEX, KPMG, and more Key Enforcement Actions: ○ Fresenius, Walmart, TechnipFMC Recording, slides, and report ● will be sent via email Please answer short post ● webinar survey
Regulatory Update DOJ Evaluation of Corporate Compliance Programs, 2019 Guidance OFAC Sanctions Compliance Program Framework
DOJ 2019 Guidance The 2019 Guidance posed three “fundamental questions” that prosecutors must begin their analysis with: 1. Is the corporation’s compliance program well designed? 2. Is your program being implemented efgectively? 3. Does the corporation’s compliance program work in practice?
OFAC Sanctions 2019 Compliance Program Framework Five essential components of compliance: (1) management commitment; (2) risk assessment; (3) internal controls; (4) testing and auditing; and (5) training.
Trends: Ethisphere and the Ethics Premium ○ WME companies outpaced everyone else by 10.5 % over the last three years. (4.5% ten years ago) ○ WME firms also have a higher average share price than their peers. ○ Share price is a function of expected future profit. ○ When a company’s stock price is outperforming its peers, the market is saying it expects that company to generate more profit in the future.
Trends: NAVEX Global’s Defi finitive Corporate Compliance Benchmark Reporting Systems ● Policies and Procedures ● Training ●
Trends: NAVEX Global’s Defi finitive Corporate Compliance Benchmark
Trends: NAVEX Global’s Defi finitive Corporate Compliance Benchmark
Trends: KPMG 2019 Chief Compliance Offficer Survey ● Greater use of technology ● More holistic approach to GRC ● More ongoing monitoring
Trends: KPMG 2019 Chief Compliance Offficer Survey
Trends: KPMG 2019 Chief Compliance Offficer Survey “I am excited about the opportunities that advances in analytics and innovative technologies present for us to continue to transform ethics and compliance at Walmart to be the world’s most trusted retailer. In particular, to be even more proactive in risk spotting will allow us to provide value and insights and be a strategic business partner.” - Daniel Trujillo, EVP Global Ethics and Compliance Offjcer at Walmart
Key Q2 2019 Enforcement Actions: Fresenius ● Bribery schemes ● Investigative and remedial steps ● Monitor mandated
Key Q2 2019 Enforcement Actions: TechnipFMC ● Recidivist conduct ● The bribery schemes and aftermath ● No monitor
Key Q2 2019 Enforcement Actions: Walmart ● Length of time ● Pre-settlement costs for investigation and remediation ● 2-year monitor mandated
A STORIED HISTORY IN WEB ARCHIVING 2009 2010 2012+ 2018 Hanzo is born from a British Hanzo expands to address Hanzo continually adds Hanzo launches Library project directed to eDiscovery and capabilities to capture the AI-powered investigations capture the web “forever”. Compliance challenges for newest, most interactive tools to proactively find government and enterprise content sources. malicious content. organizations. OPERATIONS: 450,000,000+ Hanzo is headquartered in New York and London and has operations across North America and EMEA PAGES ARCHIVED 17
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In Closing // Q&A Thank you! Questions? More information? Tom Fox: tfox@tfoxlaw.com ● http://fcpacompliancereport.com ● @tfoxlaw ● Jonathan Marks: Jonathan.Marks@bakertilly.com ● https://www.bakertilly.com/ ● @jtmarkscpa ● Sean Freidlin: sean.freidlin@hanzo.co ● www.hanzo.co ● @compliance2019 ●
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