Archive for the ‘TWIFCPAVideocast’ Category

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Episode #53

In Comverse Technologies,Declinations,Due Diligence,Esquinazi,Hewlett Packard Co.,NCR,O'Shea,Self-disclosure,Speaking Engagements,TWIFCPAVideocast on September 16, 2012 by Howard@OpenAir Tagged: , , , , , , , , , , , , , , , , , , , ,

Tom and I discuss HP, NCR & how NOT to react to whistleblowers, the new and improved DOJ web site, Comverse Technologies and a lenient sentence for Paul Cosgrove. Episode #53.

00:39: More than you wanted to know about Howard’s new site (the redesigned Open Air Blog)
01:51: Have a happy new year
02:55: Hewlett Packard (Howard recuses himself from the discussion, so this is all Tom)
06:09: You missed my birthday. Don’t worry, you don’t have to apologize
06:43: NCR shows considerable skill at treating a whistleblower complaint in exactly the wrong way. Tom & I talk about how to handle a whistleblower better. And here’s the link to Mike Volkov’s video.
18:12: DOJ improves their already-great Web site. And they work really, really hard
23:07: Tom is speaking in Singapore. If you’re anywhere close, you really need to go. Here’s the link to the conference. And in San Diego. The San Diego one is on diligence, and is with Mike Volkov
27:32: Comverse: we can’t guarantee that we won’t screw up…again. Ooookkkaaaayyyy, Comverse. Thanks for sharing. And how to actually have consistent messaging.
36:44: Paul Cosgrove, former global head of Sales at Control Components, Inc. (CCI), gets sentenced. Ending a very interesting case. And neither Howard nor Tom are Supreme Court scholars. Little help, anyone? And Howard is going to be in the same room with Lanny, in the near future, in London!

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Episode #52

In disclosure,Harris Corp.,News Corp.,Safran,State-Owned Entities,TWIFCPAVideocast,UK Bribery Act,Wal-Mart on September 10, 2012 by Howard@OpenAir Tagged: , , , , , , , , , ,

Tom and I talk about Tom’s talk tomorrow in Chicago, News Corp.’s latest arrest, Safran’s ridiculously low fine, how much an investigation should cost (more if you’re Walmart, versus ABM), the SFO and gifts, Harris Corp. and gifts, and more!

Show notes:

00:41: Go hear Tom in Chicago, Tuesday morning at the University Club of Chicago, hosted by Kreller, along with Stephen Martin of Baker McKenzie. They’ll be talking about the 5 key elements of a corporate compliance program

02:15: Is the SFO backing off prosecution of the UK Bribery Act? So argues Alexandra Wrage.

16:03: Mike Koehler is amazing. And, he writes. What is a government instrumentality, he asks, now that the Conflict Minerals rule defines it as when a foreign government owns 51% or more of the third party.

23:19: Anytime a lawyer gets arrested, we take notice. The head of legal for News of the World gets arrested.

26:48: How much should FCPA investigations cost? For Walmart, $51 million. For ABM, $3.3 million

29:27: Safran pays a “fine.” €500,000 to get a €170 million contract. Or, as I call it, cost of sales. Could it be because they’re 1/3 owned by the French government? Hey, DOJ/SEC: do something about this. Please.

35:05: NYU study on self-disclosure. Does self-disclosure have an effect on the penalty?

40:07: Harris Corp. investigating itself. Over gifts. “Why? Why? Why?,” I cry. And a question to ponder: is it possible to retain revenue going forward when you find old contracts were obtained through bribery?

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Episode #51

In TWIFCPAVideocast on August 27, 2012 by Howard@OpenAir

In our weekly anti-corruption catch-up, Tom and I talk about Oracle, the SEC’s extractive disclosure rule, $50,000 to a whistleblower, who’s your state-owned entity, and Peterson accepts responsibility (except for that he doesn’t). And the highlight: NCR tipster lays out many, many lessons.

00:59: Howard promises not to say things are slow anymore
01:21: Oracle and the difficulty with finding and stopping slush funds
07:00: Howard agrees with Professor Koehler…what is the world coming to? Tom disagrees. Eh, he’s probably right.
15:41: SEC approves disclosure rules for extractive industry
20:56: SEC pays out first whistleblower payment
24:00: Tchenguiz case: we don’t understand the deal. Go over to thebriberyact.com. Even we can understand that investigative agencies need resources to hire investigators. Call me crazy.
26:46: DOJ files 11th Circuit brief in Esquinazi & Rodriguez appeals
33:07: Is $34 million in one quarter a lot of money for an FCPA investigation?
36:09: Garth Peterson talks to CNBC and the SODDI defense
44:28: NCR: a world of issues in one little investigation (and Tom and I both have a senior moment. Little help here?). Killing the messenger is a time-honored custom in China, right?
55:21: Who is a “senior leader”? To what level does a bribery scheme have to rise in order for us to say that the company knew?
1:03:56: As if you needed another reason to go to San Diego, Tom and Mike Volkov are going to be speaking about due diligence. I speak at conferences too.

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Episode #48

In Africa Sting Case,Avon,Halliburton,Olympus,SEC,Stroz Friedberg,TWIFCPAVideocast on August 3, 2012 by Howard@OpenAir Tagged: , , , , , , , , , , , ,

A busy FCPA week: investigations starting, investigations ending, CEOs asked to come in for interviews, Stroz Friedberg picks up another one, and a rant about CDOs, the financial crisis, and dumb money.

Show notes:

02:47: Investigation of Sensata closes, no charges brought; raises the question of “what’s a declination, exactly?” And how you need M&A diligence.
14:00: WW Grainger publicly announces that they don’t know how to do an internal investigation. That is, they announced that their investigation didn’t find anything. What should you do with gift cards? And why a compliance culture is good for the business.
22:31: Halliburton opens an investigation
26:12: Olympus open an investigation. Into reimbursements to doctors in Brazil. Really? You’re gonna disclose that?
28:04: The importance of integrating companies you buy
33:05: Total SA. Howard goes on a rant, and evidently isn’t a fan of anything French.
40:15: Still on Total SA, but talking about how the investigation is REALLY old, and as someone told me, cases—unlike wine—don’t get better with age. Plus, the blocking statue; plus, the whistleblower laws.
43:03: Avon’s CEO gets called in, and Avon has spent a ton of money. Seriously, if you weighed it, it would weigh a ton.
49:25: Bistrong gets 18 months. Howard feels conflicted.
54:21: Stroz Friedberg shoots…they score! Again. First Scott Peeler, now David Glockner.
56:47: SEC loses Stoker trial. Howard tries to explain what a CDO is (and fails miserably).

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Episode #45

In Alcoa,Miller & Chevalier,red flags,SEC,TWIFCPAVideocast,Wal-Mart on July 13, 2012 by Howard@OpenAir

Show notes:

01:25: Many, many law firm “reports, reviews, alerts” etc. But is enforcement leveling out? And Miller Chevalier? Make a downloadable PDF, please.
08:28: Alcoa, Alba, and a publicized settlement offer
18:02: Chocolates and bribery. That is, the Orthofix case. And we get a full-on Howard rants starting about 28:13. And I get on a roll, and keep on it for a while.
36:55: Former Prime Minister of Israel Olmert acquitted of bribery. Ties into the US, and into the Sands investigation. How would this effect a US investigation?
In the middle of this: Tom leaves, Howard chokes, Tom returns.
41:44: Walmart, facilitation payments, and the (potentially premature) death notice for FCPA reform
42:19 starts the facilitation payments discussion. At 46:23, we start talking about the excellent China Law Blog, and Dan’s post from today. [Tom and I are in total agreement: you need to start reading China Law Blog, if you don’t already.]

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Episode #42

In Alcoa,Due Diligence,Hughes Hubbard,News Corp.,RICO,TWIFCPAVideocast,UK Bribery Act,Wal-Mart,Watts Water on June 15, 2012 by Howard@OpenAir Tagged: , , , , , ,

Show Notes:

01:31: Alba wins motion to dismiss their case against Alcoa
09:32: Is it okay that the DOJ uses a company’s internal investigation results?
14:17: Watts Water sues its lawyers
18:36: Due Diligence is difficult, especially in China (learned from the China Law Blog)
23:43: We start to talk about the UK DPA Consultation, but end up riffing on whether there should be DPAs at all
28:32: We finally get back to the UK
29:33: Why is Congress investigating Walmart?
36:47: Maybe because Walmart’s investigation scope has expanded, again
40:57: We throw in some News Corp. (not a sponsor of this video) news
43:12: Hughes Hubbard shares some wisdom
47:13: Tom and I are both speaking in Houston the last week in June, but at different events.

Hughes Hubbard FCPA Anti-Bribery Alert Summer 2012 Electronic Version

Come hear me and Jonathan Marks speak: June 25th (Monday) in San Francisco and June 26th (Tuesday) in Houston.

China Law Blog: definitely worth the time. In fact, it’s worth a lot of time.

UK Consultation Page

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Episode #41

In Africa Sting Case,Compliance Defense,Compliance Week,Procter & Gamble,TWIFCPAVideocast on June 11, 2012 by Howard@OpenAir Tagged: , , ,

Show notes:

00:50: Compliance Week
03:17: CEO of P&G gives a speech, and we ask, “do you need a CCO?”
11:18: Companies are taking a look at their specific risks, and that’s a good thing
13:54: What does any of this have to do with a compliance defense?
16:16: 8 moms give Bob McDonald (the CEO of P&G) agita
17:52: Tom and I go to an ABA panel on the Africa Sting case
24:30: Mike Koehler is going to law school
26:06: Hewlett-Packard’s latest disclosure

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