Compliance into the Weeds

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 explore a subject more fully. Looking for some hard-hitting insights on compliance? Look no further than Compliance into the Weeds! In this episode of Compliance into the Weeds, Tom Fox and Matt Kelly discuss the Trump administration’s recent H-1B visa reforms and their implications for corporate compliance officers. Highlighting the sudden and arbitrary policy changes, they discuss the potential chaos and confusion that businesses reliant on H-1B visas may face. They explore the economic ramifications, the threat of increased corporate costs, and the embedded risks of corruption. The episode highlights the broader issue of regulatory unpredictability under the Trump administration and offers compliance professionals guidance on coping strategies in this volatile environment. Key highlights: H-1B Visas: Current Headlines Understanding H-1B Visas Trump Administration’s New H-1B Visa Policy Policy Clarifications and Implications Potential for Corruption Resources: Matt on Radical Compliance  Tom Instagram Facebook YouTube Twitter LinkedIn A multi-award-winning podcast, Compliance into the Weeds was most recently honored as one of the Top 25 Regulatory Compliance Podcasts, a Top 10 Business Law Podcast, and a Top 12 Risk Management Podcast. Compliance into the Weeds has been conferred the Davey, Communicator, and W3 Awards for podcast excellence. Learn more about your ad choices. Visit megaphone.fm/adchoices

Key highlights: The SCCE conference was well-attended with over 1300 participants. The absence of key representatives from the Trump administration was notable. Innovative presentations offered fresh perspectives on compliance topics. Compliance professionals must adapt policies to effectively support AI tools. Leadership changes at SCCE signal a new direction for the organization. Resources: Matt on Radical Compliance  Tom Instagram Facebook YouTube Twitter LinkedIn A multi-award-winning podcast, Compliance into the Weeds was most recently honored as one of the Top 25 Regulatory Compliance Podcasts, a Top 10 Business Law Podcast, and a Top 12 Risk Management Podcast. Compliance into the Weeds has been conferred the Davey, Communicator, and W3 Awards for podcast excellence. Learn more about your ad choices. Visit megaphone.fm/adchoices

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 explore a subject more fully. Looking for some hard-hitting insights on compliance? Look no further than Compliance into the Weeds! In this episode of Compliance into the Weeds, Tom Fox and Matt Kelly review a recent report from LRN on the state of Codes of Conduct. This episode explores the multifaceted use of a corporate code of conduct, discussing its role as both a defensive and offensive tool. Tom and Matt emphasize the importance of managers talking about the code and view it as a substantive part of senior management’s dialogue on corporate culture. The conversation underscores the code’s utility in various contexts and advocates for its broader adoption within the organization. Key highlights: Code as a Tool The Role of Managers in Code Discussion Senior Managers and Corporate Culture Versatility of the Code Resources: Matt on Radical Compliance Tom Instagram Facebook YouTube Twitter LinkedIn A multi-award-winning podcast, Compliance into the Weeds was most recently honored as one of the Top 25 Regulatory Compliance Podcasts, a Top 10 Business Law Podcast, and a Top 12 Risk Management Podcast. Compliance into the Weeds has been conferred the Davey, Communicator, and W3 Awards for podcast excellence. Learn more about your ad choices. Visit megaphone.fm/adchoices

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 explore a subject more fully. Looking for some hard-hitting insights on compliance? Look no further than Compliance into the Weeds! In this episode, Tom Fox and Matt Kelly discuss a recent OFAC enforcement action against a Swiss-domiciled freight forwarding company, Fracht. The case stands out for its complexity, involving a single, high-value transaction that exposed the company to significant sanctions risk through dealings with both Venezuelan and Iranian entities. Tom and Matt break down the compliance failures, the role of senior management, and the extensive remediation steps taken post-incident. This episode offers actionable lessons for compliance professionals on supply chain due diligence, the importance of compliance involvement in urgent deals, and the consequences of sidelining compliance functions. Key highlights: OFAC Enforcement Details Anatomy of the Transaction Third- and Fourth-Party Risks Senior Management Involvement Compliance Failures & Supply Chain Visibility Remediation & Consequence Management Key Takeaways for Compliance Professionals: Always involve compliance in high-value, urgent transactions. Ensure robust due diligence for all counterparties, including third- and fourth-party risks. Senior management must be accountable for compliance failures. Remediation should include policy updates, staff training, and ongoing oversight. Resources: Matt on Radical Compliance  Tom Instagram Facebook YouTube Twitter LinkedIn A multi-award-winning podcast, Compliance into the Weeds was most recently honored as one of the Top 25 Regulatory Compliance Podcasts, a Top 10 Business Law Podcast, and a Top 12 Risk Management Podcast. Compliance into the Weeds has been conferred the Davey, Communicator, and W3 Awards for podcast excellence. Learn more about your ad choices. Visit megaphone.fm/adchoices

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 explore a subject more fully. Seeking insightful perspectives on compliance? Look no further than Compliance into the Weeds! In this episode, Tom Fox and Matt Kelly discuss the implications of reducing the number of middle managers in corporate America. Kelly’s blog post, inspired by a Wall Street Journal article, serves as the foundation for a broader discussion on how the reduction of managers impacts corporate culture, employee dynamics, and compliance programs. They explore the reasons behind this trend, such as the desire for agility or cost-cutting, and its effects on communication, institutional knowledge, and the role of compliance officers. They also explore potential solutions, including the use of AI, enhanced training, and adaptive compliance strategies, to mitigate the risks associated with fewer middle managers. Key highlights: Corporate America’s Managerial Shift Implications for Corporate Culture AI and Compliance Solutions Institutional Knowledge and Risks Compliance Takeaways and Final Thoughts Resources: Matt on Radical Compliance Tom Instagram Facebook YouTube Twitter LinkedIn A multi-award-winning podcast, Compliance into the Weeds was most recently honored as one of the Top 25 Regulatory Compliance Podcasts, a Top 10 Business Law Podcast, and a Top 12 Risk Management Podcast. Compliance into the Weeds has been conferred the Davey, Communicator, and W3 Awards for podcast excellence. Learn more about your ad choices. Visit megaphone.fm/adchoices

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 explore a subject more fully. Seeking insightful perspectives on compliance? Look no further than Compliance into the Weeds! In this episode, Tom Fox and Matt Kelly discuss the recent University of Michigan football scandal. They draw parallels to the infamous 2017 Houston Astros sign-stealing incident and examine the numerous compliance failures within Michigan’s football program. Highlighted issues include impermissible scouting, leadership failures by Jim Harbaugh, marginalization of the compliance function, and the NCAA’s ineffective enforcement. The conversation highlights crucial lessons for corporate compliance, emphasizing the importance of documentation, intern training, cooperation in investigations, and maintaining robust enforcement actions. Key highlights: Michigan Football Scandal Overview Impermissible Scouting and Violations Leadership Failures and Compliance Issues NCAA’s Toothless Enforcement Comparisons to Corporate Compliance Lessons for Compliance Officers Ed. Note: Tom Fox has written a 5-part blog post series on the UM Cheating Scandal. It will be posted each day this week. You can view the full series on his blog, the FCPA Compliance and Ethics Blog. Resources : Tom Instagram Facebook YouTube Twitter LinkedIn A multi-award-winning podcast, Compliance into the Weeds was most recently honored as one of the Top 25 Regulatory Compliance Podcasts, a Top 10 Business Law Podcast, and a Top 12 Risk Management Podcast. Learn more about your ad choices. Visit megaphone.fm/adchoices

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 explore a subject more fully. Looking for some hard-hitting insights on compliance? Look no further than Compliance into the Weeds! In this episode of Compliance into the Weeds, Tom Fox and Matt Kelly discuss emerging concerns surrounding AI, particularly ChatGPT, in the realm of employee training. Their discussion centers on the potential use of AI, specifically ChatGPT’s newest ‘Agent Mode’, to administer compliance training courses on behalf of employees, which could potentially enable them to cheat. They debate the implications of this capability, touching on the historical context of cheating, the effectiveness of current training methods, and the need for new internal controls and strategies to adapt to these technological advancements. They also contemplate the future of training, potentially evolving into AI-driven bots that provide on-the-spot, micro-learning modules. The episode encourages compliance officers to thoroughly vet their training vendors to ensure measures are in place to prevent AI-enabled cheating. Key highlights: The Dark Side of AI in Compliance Training AI’s Impact on Employee Training AI’s Role in Training and Compliance Future of AI in Corporate Training Challenges and Considerations Resources: Matt Kelly in Radical Compliance Tom Instagram Facebook YouTube Twitter LinkedIn A multi-award-winning podcast, Compliance into the Weeds was most recently honored as one of the Top 25 Regulatory Compliance Podcasts, a Top 10 Business Law Podcast, and a Top 12 Risk Management Podcast. Compliance into the Weeds has been conferred a Davey, Communicator, and W3 Awards for podcast excellence. Learn more about your ad choices. Visit megaphone.fm/adchoices

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 explore a subject more fully. Looking for some hard-hitting insights on compliance? Look no further than Compliance into the Weeds! In this episode of Compliance into the Weeds, Tom Fox and Matt Kelly discuss recent enforcement actions under the False Claims Act (FCA) related to cybersecurity failures by government contractors. They analyze two significant cases: Illumina, a medical device maker, and Aero Turbine, a contractor for the US Air Force. The conversation highlights the importance of ‘security by design’ in product development and the growing scrutiny on compliance practices, especially for smaller companies. The discussion emphasizes the need for robust cybersecurity measures and the challenges faced by organizations in meeting regulatory requirements. Key highlights: False Claims Act Cases Overview Illumina Case Analysis Aero Turbine Case Insights Compliance Challenges for Smaller Companies Resources: Matt Kelly in Radical Compliance Tom Instagram Facebook YouTube Twitter LinkedIn A multi-award-winning podcast, Compliance into the Weeds was most recently honored as one of the Top 25 Regulatory Compliance Podcasts, a Top 10 Business Law Podcast, and a Top 12 Risk Management Podcast. Compliance into the Weeds has been conferred a Davey, Communicator, and W3 Awards for podcast excellence. Learn more about your ad choices. Visit megaphone.fm/adchoices

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 explore a subject more fully. Looking for some hard-hitting insights on compliance? Look no further than Compliance into the Weeds! In this episode of Compliance into the Weeds, Tom Fox and Matt Kelly discuss the recent enforcement action against Cadence Design Systems for export control violations. They explore the company’s illegal sales of sensitive technology to a Chinese university connected to the Chinese military, resulting in $140 million in penalties and a three-year probation. The conversation delves into topics like weak subsidiary governance, challenges in monitoring Chinese subsidiaries, and the complexities of conducting investigations in China. They also reflect on the broader implications for U.S. companies operating in China and the intractable risks involved. Key highlights: Cadence Design Systems Case Overview Subsidiary Governance Issues Details of the Misconduct Resolution and Penalties Challenges in Compliance and Monitoring Complexities of Doing Business in China Resources Matt Kelly in Radical Compliance Tom Instagram Facebook YouTube Twitter LinkedIn A multi-award-winning podcast, Compliance into the Weeds was most recently honored as one of the Top 25 Regulatory Compliance Podcasts, a Top 10 Business Law Podcast, and a Top 12 Risk Management Podcast. Compliance into the Weeds has been conferred a Davey, Communicator, and W3 Awards for podcast excellence. Learn more about your ad choices. Visit megaphone.fm/adchoices

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 explore a subject more fully. Seeking insightful perspectives on compliance? Look no further than Compliance into the Weeds! In this episode of Compliance into the Weeds, Tom Fox and Matt Kelly discuss two recent OFAC enforcement actions involving Harman International and Interactive Brokers and the lessons they provide for compliance professionals. Tom and Matt delve into the facts of both cases, finding under-resourced sanctions compliance programs in both companies. They highlight key issues, including inadequate personnel, misconfigured compliance tools, and a failure to conduct proper risk assessments. Despite self-disclosure and cooperation, both companies faced significant fines and were required to implement extensive remediation measures. The discussion highlights the growing importance of robust sanctions compliance programs in mitigating risks and preventing enforcement actions. Key highlights: Sanctions Enforcement Cases Overview Harman International’s Compliance Failures Interactive Brokers’ Compliance Issues Lessons and Final Thoughts Resources: Matt Kelly in Radical Compliance Tom Instagram Facebook YouTube Twitter LinkedIn A multi-award-winning podcast, Compliance into the Weeds was most recently honored as one of the Top 25 Regulatory Compliance Podcasts, a Top 10 Business Law Podcast, and a Top 12 Risk Management Podcast. Compliance into the Weeds has been conferred the Davey, Communicator, and W3 Awards for podcast excellence. Learn more about your ad choices. Visit megaphone.fm/adchoices

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 explore a subject more fully. Seeking insightful perspectives on compliance? Look no further than Compliance into the Weeds! In this episode of Compliance into the Weeds, Tom Fox and Matt Kelly discuss a recent Anthropic report that highlights “agentic misalignment in AI systems.” The discussion addresses the unsettling, independent, and unethical behaviors exhibited by AI systems in extreme scenarios. The conversation explores the implications for corporate risk management, AI governance, and compliance, drawing parallels between AI behavior and human behavior using concepts such as the fraud triangle. The episode also explores how traditional anti-fraud mechanisms may be adapted for monitoring AI agents while reflecting on lessons from science fiction portrayals of AI ethics and risks. Key highlights: AI’s Unethical Behaviors Comparing AI to Human Behavior Fraud Triangle, the Anti-Fraud Triangle, and AI Science Fiction Parallels Resources: Matt Kelly in Radical Compliance  Tom Instagram Facebook YouTube Twitter LinkedIn A multi-award-winning podcast, Compliance into the Weeds was most recently honored as one of the Top 25 Regulatory Compliance Podcasts, a Top 10 Business Law Podcast, and a Top 12 Risk Management Podcast. Compliance into the Weeds has been conferred the Davey, Communicator, and W3 Awards for podcast excellence. Learn more about your ad choices. Visit megaphone.fm/adchoices

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 explore a subject more fully. Are you seeking insightful perspectives on compliance? Look no further than Compliance into the Weeds! In this episode of Compliance into the Weeds, Tom Fox and Matt Kelly discuss Boeing’s recent safety initiatives and reforms, as outlined in their annual aerospace safety report. They explore Boeing’s efforts to improve its speak-up culture, internal reporting systems, and the introduction of an expansive Safety Champions Program. The episode explores the procedural changes Boeing has implemented, including the handling of third-party reports and increased transparency for employees. Additionally, they examine the challenges and necessities of manager training in fostering an ethical corporate culture. The conversation concludes with insights on the recent Federal District Court hearing regarding Boeing’s non-prosecution agreement and the implications for transparency and accountability. Key highlights: Speak Up Culture Enhancements Ambassador Program Expansion Manager Training and Corporate Culture Court Hearing on Boeing’s Non-Prosecution Agreement Resources: Matt Kelly in Radical Compliance Tom Instagram Facebook YouTube Twitter LinkedIn A multi-award-winning podcast, Compliance into the Weeds, was most recently honored as one of the Top 25 Regulatory Compliance Podcasts, a Top 10 Business Law Podcast, and a Top 12 Risk Management Podcast. Learn more about your ad choices. Visit megaphone.fm/adchoices

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 explore a subject more fully. Are you seeking insightful perspectives on compliance? Look no further than Compliance into the Weeds! In this episode of Compliance into the Weeds, Tom Fox and Matt Kelly discuss the recently released COSO Corporate Governance Framework. Tom and Matt take a deep dive into the new COSO Corporate Governance Framework draft. They discuss the importance of public comment on the draft, which is open until July 11, and explore the framework’s six key components. The framework aims to provide discipline in achieving good governance within organizations, covering areas such as strategy, culture, human resources, and resilience. Kelly highlights the significance of culture in compliance and the role of information quality in the future, providing practical tips on implementing and testing the framework. The episode highlights the importance of this framework for various stakeholders, encouraging practitioners to review and provide feedback on the draft. Key highlights: Overview of COSO’s Draft Corporate Governance Framework The Six Objectives of the Framework Importance of Culture in Compliance Principles and Points of Focus Resilience in Corporate Governance Resources: Matt Kelly in Radical Compliance Tom Instagram Facebook YouTube Twitter LinkedIn A multi-award-winning podcast, Compliance into the Weeds, was most recently honored as one of the Top 25 Regulatory Compliance Podcasts, a Top 10 Business Law Podcast, and a Top 12 Risk Management Podcast. Learn more about your ad choices. Visit megaphone.fm/adchoices

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 explore a subject more fully. Are you seeking insightful perspectives on compliance? Look no further than Compliance into the Weeds! In this episode of Compliance into the Weeds, Tom Fox and Matt Kelly discuss the recent memorandum from the Deputy Attorney General regarding the investigation and enforcement of the FCPA. The memo follows President Trump’s executive order pausing FCPA enforcement for six months. The hosts evaluate the potential impacts on compliance programs, with a possible shift to targeting foreign companies that harm US business interests and national security. They also explore the role of the Foreign Extortion Prevention Act and speculate on how the SEC might integrate these changes into its enforcement practices. Key highlights: Initial Reactions to the FCPA Memo Implications for Anti-Corruption Compliance Focus on Foreign Companies and National Security Skepticism and Potential Bias in Enforcement Strategic National Interests and Enforcement Considerations for Compliance Officers Resources: Memo on Guidelines for Investigation and Enforcement of the FCPA Tom Instagram Facebook YouTube Twitter LinkedIn A multi-award-winning podcast, Compliance into the Weeds, was most recently honored as one of the Top 25 Regulatory Compliance Podcasts, a Top 10 Business Law Podcast, and a Top 12 Risk Management Podcast. Learn more about your ad choices. Visit megaphone.fm/adchoices

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 explore a subject more fully. Are you seeking insightful perspectives on compliance? Look no further than Compliance into the Weeds! In this episode of Compliance into the Weeds, Tom Fox and Matt Kelly consider what happens when AI turns whistleblower. The advent of AI technologies, such as Claude Opus 4, has sparked debates over the potential for AI systems to autonomously report misconduct, presenting new ethical and operational challenges within AI governance. Tom Fox views AI whistleblowing with caution, questioning the feasibility of implementing effective governance rules and the complexities involved in distinguishing between AI-generated reports and those of human whistleblowers. His concerns are shaped by the legal and ethical implications of AI’s autonomous actions, highlighting a pressing need for clearer regulations. Similarly, Matt Kelly is concerned about the ethical nuances, emphasizing the difficulty AI might face in understanding corporate ethics and compliance culture without human oversight, and underscores the urgent need for regulatory frameworks to keep pace with the advancements in AI. Fox and Kelly’s perspectives converge on the necessity for robust oversight mechanisms and strategic planning to manage the compliance challenges posed by AI in whistleblowing scenarios. Key highlights: Autonomous AI Reporting Misconduct to Authorities Navigating AI Ethics for Regulatory Compliance Distinguishing AI Reporting in Whistleblower Cases Navigating AI Challenges in Compliance Programs Resources: Radical Compliance Tom Instagram Facebook YouTube Twitter LinkedIn Learn more about your ad choices. Visit megaphone.fm/adchoices

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 explore a subject more fully and seeking insightful perspectives on compliance. Look no further than Compliance into the Weeds! In this episode of Compliance into the Weeds, Tom Fox and Matt Kelly take a deep dive into the Department of Justice’s recent proposal to grant Boeing a non-prosecution agreement. This decision stems from the 737 MAX crashes in the late 2010s that killed 346 people. They cover the history of Boeing’s settlements, the details and leniency of the new agreement, the role and scope of the independent compliance consultant, and the implications for corporate compliance and the victims’ families. The discussion highlights the potential end of compliance monitors and the broader impacts on corporate accountability. Key highlights: DOJ’s Non-Prosecution Agreement with Boeing Changes in the Settlement Agreement Role and Scope of the Independent Compliance Consultant Implications for Compliance Monitorships Boeing’s Whistleblower Program and Compliance Efforts Judicial and Victims’ Family Reactions Resources: Radical Compliance  Tom Instagram Facebook YouTube Twitter LinkedIn A multi-award-winning podcast, Compliance into the Weeds, was most recently honored as one of the Top 25 Regulatory Compliance Podcasts, a Top 10 Business Law Podcast, and a Top 12 Risk Management Podcast. Learn more about your ad choices. Visit megaphone.fm/adchoices

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 explore a subject more fully. Are you looking for some hard-hitting insights on compliance? Look no further than Compliance into the Weeds! With a nod to Peter, Paul, Mary, and John Denver, in this episode of Compliance into the Weeds, Tom Fox and Matt Kelly deeply dive into a recent tweet by President Donald Trump targeting Walmart and their announced intention to raise prices based on increased tariff costs. The discussion explores the implications of Trump’s demand that Walmart absorb tariff costs instead of passing them on to consumers. It examines the broader implications for stakeholder capitalism, the role of presidential influence on corporate governance, and the complexities of risk management in an unpredictable political climate. The episode also touches on ESG issues and the delicate balance companies must strike in navigating these challenges. Key highlights: Trump’s Tweet and Walmart’s Dilemma Stakeholder Capitalism vs. Shareholder Primacy Corporate Governance and Presidential Influence Legal Implications and Corporate Compensation Risk Management in Unpredictable Times Resources: Radical Compliance Tom Instagram Facebook YouTube Twitter LinkedIn A multi-award-winning podcast, Compliance into the Weeds, was most recently honored as one of the Top 25 Regulatory Compliance Podcasts, the Top 10 Business Law Podcasts, and the Top 12 Risk Management Podcasts. Learn more about your ad choices. Visit megaphone.fm/adchoices

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 explore a subject more fully. Are you looking for some hard-hitting insights on compliance? Look no further than Compliance into the Weeds! With a nod to Peter, Paul, Mary, and John Denver, in this Compliance into the Weeds episode, Tom Fox and Matt Kelly deeply dive into the potential gift of a luxury Qatari jetliner to President Trump. We discuss the launch of Trump’s meme coins and the Qatari government’s allegedly planned $400 million plane donation to Trump. The conversation examines the compliance and corruption risks these actions pose for U.S. and international businesses. Kelly emphasizes how these incidents challenge ethical standards and underscore the importance for companies to address new forms of corruption proactively within their anti-corruption programs. Key highlights: Trump’s Alleged Corruption: An Overview The Meme Coins Controversy The Qatari Plane Donation Compliance and Integrity in the Face of Corruption Resources: Tom Instagram Facebook YouTube Twitter LinkedIn A multi-award-winning podcast, Compliance into the Weeds, was most recently honored as one of the Top 25 Regulatory Compliance Podcasts, the Top 10 Business Law Podcasts, and the Top 12 Risk Management Podcasts. Learn more about your ad choices. Visit megaphone.fm/adchoices

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 explore a subject more fully. Are you looking for some hard-hitting insights on compliance? Look no further than Compliance into the Weeds! In this Compliance into the Weeds episode, Tom Fox and Matt Kelly take a deep dive into the declination recently given by the DOJ to the Universities Space Research Association (USRA). In this episode, Tom and Matt dive deeply into a recent decline issued by the Department of Justice (DOJ) to the University Space Research Association (USRA). The discussion focuses on the organization’s exemplary behavior in self-disclosure and cooperation during an investigation into an employee’s misconduct. This misconduct included unauthorized export of software to Beijing University. The hosts highlight the case as a textbook example of effective compliance practices, self-reporting, and cooperation with regulators. They also explore the DOJ’s guidelines on self-disclosure and the importance of internal controls in high-risk areas. Key highlights: Case Overview: USRA Declination DOJ Press Release Insights Details of the Misconduct USRA’s Response and Cooperation Resources: DOJ Press Release on Universities Space Research Association Declination Tom Instagram Facebook YouTube Twitter LinkedIn Compliance into the Weeds was recently honored as one of a Top 25 Regulatory Compliance Podcast and a Top 10 Business Law Podcast, and a Top 12 Risk Management Podcast. Learn more about your ad choices. Visit megaphone.fm/adchoices

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 explore a subject more fully. Are you looking for some hard-hitting insights on compliance? Look no further than Compliance into the Weeds! In this episode of Compliance into the Weeds, Tom Fox and Matt Kelly take a deep dive into the settlement of charges by the OCC with two former top audit executives at Wells Fargo for their oversight failures during the bank’s fake accounts scandal. The Wells Fargo banking scandal is a cautionary tale of unchecked corporate misconduct and the critical role of auditor accountability. This scandal, which erupted due to Wells Fargo’s creation of fake accounts driven by unrealistic sales targets, exposed the bank’s dysfunctional corporate culture and raised questions about the efficacy of internal audits and the broader implications of regulatory actions. They discuss the scandal as emblematic of the broader issues stemming from repealing the Glass-Steagall Act, which blurs the lines between investment and consumer banking, fostering an environment where misconduct could thrive. Kelly points to the enormity of banks’ post-Glass-Steagall repeal as a breeding ground for potential misconduct and highlights the negligence of Wells Fargo’s leadership in failing to curb unethical practices. Both Fox and Kelly underscore the necessity for a comprehensive reevaluation of compliance and audit roles to prevent future scandals of this magnitude. Key highlights: Settlement of OCC Charges in Wells Fargo Impact of Regulatory Actions on Auditors Unethical Sales Goals Impacting Corporate Culture Glass Steagall Act Repeal: Wells Fargo Impact Resources: Matt in Radical Compliance Tom Instagram Facebook YouTube Twitter LinkedIn Learn more about your ad choices. Visit megaphone.fm/adchoices