Episodes

  • Anna Hamati on Key Lessons from the TD Bank AML Enforcement Action

    Anna Hamati on Key Lessons from the TD Bank AML Enforcement Action
    Nov 11 2024
    Welcome to the Hughes Hubbard Anti-Corruption & Internal Investigations Practice Group’s podcast All Things Investigation. In this episode, host Tom Fox is joined by Anna Hamadi, a counsel at Hughes Hubbard and Reed, to discuss the historic anti-money laundering (AML) enforcement action involving TD Bank. Anna outlines her professional background in compliance and offers a deep dive into the top five takeaways from the extensive consent order related to the TD Bank case. These takeaways highlight key compliance failures, including inadequate resource allocation, insufficient testing and auditing, a weak culture of compliance, poor training programs, and failures in filing accurate and timely CTRs and SARs. The discussion provides critical insights and practical advice for compliance professionals seeking to improve their own AML programs. Anna underscores the importance of allocating sufficient resources to compliance functions, conducting proper testing and auditing, fostering a strong compliance culture from the top, providing comprehensive training, and ensuring the timely and accurate filing of CTRs and SARs. Through detailed examples, she illustrates the real-world implications of these compliance failures and offers practical guidance for banks and financial institutions to avoid similar pitfalls. This episode is a must-listen for anyone involved in AML and regulatory compliance. Key Highlights · Overview of the TD Bank Case · Key Takeaway 1: Importance of Adequate Resources · Key Takeaway 2: Testing and Auditing · Key Takeaway 3: Culture of Compliance · Key Takeaway 4: Training Programs · Key Takeaway 5: Filing Timely and Accurate Reports Resources: Hughes Hubbard & Reed website Anna Hamati
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    35 mins
  • Mike Huneke’s Top 5 Takeaways from the 2024 ECCP

    Mike Huneke’s Top 5 Takeaways from the 2024 ECCP
    Oct 21 2024
    Welcome to the Hughes Hubbard Anti-Corruption & Internal Investigations Practice Group’s podcast All Things Investigation. In this podcast, host Tom Fox is joined Mike Huneke as we explore the recently released 2024 ECCP. In this discussion, Tom and the speaker examine the extent to which the government issues detailed guidance, advice, and settlement documents in areas of law like the Foreign Corrupt Practices Act (FCPA). The conversation reflects on historical perspectives, including a statement by an SEC commissioner from the 1980s who compared issuing guidance on the FCPA to advising on committing murders. The dialogue also touches on lessons from the Enron collapse and the dissolution of Arthur Andersen, noting the government's cautious approach to putting corporations, employees, and shareholders at risk. The speaker argues that while this guidance can be seen as helping companies avoid misconduct, ignoring or rejecting it can lead to significant legal trouble. Key Highlights · Introduction to ECCP · Government's Approach to Corporate Risk · Mike’s Top 5 Takeaways · What does it all mean? Resources: Hughes Hubbard & Reed website Mike Huneke
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    34 mins
  • Anchored In Fraud: Mike DeBernardis and Shayda Vance on Austal USA’s Scandal

    Anchored In Fraud: Mike DeBernardis and Shayda Vance on Austal USA’s Scandal
    Sep 23 2024
    Welcome to the Hughes Hubbard Anti-Corruption & Internal Investigations Practice Group’s podcast, All Things Investigation. In this podcast, host Tom Fox is joined by guests Mike DeBernardis and Shayda Vance to discuss the significant case involving Austal USA, a shipbuilding company facing charges of securities fraud and obstruction of a federal audit due to the misreporting of costs for U.S. Navy ships. The episode delves into the actions taken by the DOJ and SEC and underscores the complexities involved when senior executives are implicated in fraud and the challenges companies face in maintaining compliance and cooperation with government investigations. The conversation highlights the importance of having a robust compliance program and the critical role of the board of directors in overseeing investigations. The guests also explore the specific ramifications for government contractors and defense contractors and the significant impact of U.S. jurisdiction on foreign companies listed on American Deposit Registries. Through the lens of the Austal case, the discussion provides vital insights and lessons for compliance professionals, corporate executives, and board members. Key Highlights Details of the Fraud and Legal Actions Lessons Learned and Analysis Government Contractors and Compliance Programs Challenges in Replacing Senior Executives Significance of ‘Not Presently Responsible’ in Government Contracting Implications of Listing on the American Deposit Registry Resources: Hughes Hubbard & Reed website
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    21 mins
  • Tom Lee on Invalidation of Chevron Deference

    Tom Lee on Invalidation of Chevron Deference
    Jul 29 2024
    Welcome to the Hughes Hubbard Anti-Corruption & Internal Investigations Practice Group’s podcast All Things Investigation. In this podcast, host Tom Fox welcomes back Tom Lee to take a deep dive in the Supreme Court’s invalidation of the Chevron deference and what it means going forward. In this episode, special counsel Tom Lee joins the podcast to discuss the Supreme Court’s recent decision in the Loper Bright case, which overruled the long-standing Chevron deference. Lee explains the implications of this ruling on how courts interpret ambiguous statutory terms and provides insights into the decision’s grounding in the Administrative Procedure Act rather than the Constitution. He also discusses the potential impact on past cases decided under Chevron, future regulatory challenges, and the strategic considerations for companies navigating the new legal landscape. Throughout, Lee offers a thorough analysis of the evolving legal environment and its consequences for administrative law. Key Highlights Overview of the Loper Case and Chevron Deference Supreme Court’s Decision and Its Implications Consequences of Overruling Chevron Deference Future Challenges and Legal Strategies Administrative Procedures Act and Its Impact Resources: Hughes Hubbard & Reed website Thomas Lee HHR Client Alert-Litigation After the Demise of Chevron Deference
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    19 mins
  • Mike Huneke on French Election Highlights

    Mike Huneke on French Election Highlights
    Jul 15 2024
    Welcome to the Hughes Hubbard Anti-Corruption & Internal Investigations Practice Group’s podcast All Things Investigation. In this podcast, host Tom Fox welcomes back Mike Huneke to discuss the recent French election and its implications. They explore the French electoral system, potential parallels with American and English elections, and the geographical and socio-economic dichotomies within France. The conversation also delves into the impact of European enforcement policies on multinational companies, particularly in areas such as environmental governance, anti-corruption enforcement, and data privacy. They also touch on the potential influence of the upcoming Paris Olympics and new European sanctions and export control directives on future compliance and enforcement landscapes. Key Highlights · Understanding the French Electoral System · Comparing French and American Electoral Dynamics · Impact of Recent Elections on French Politics · France's Role in European Enforcement and Governance · Challenges in Data Privacy and Compliance · Future Outlook Resources: Hughes Hubbard & Reed website Mike Huneke
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    22 mins
  • ‘This Can Be Done’: Mike DeBernardis on Navigating Compliance in High - Risk Jurisdictions

    ‘This Can Be Done’: Mike DeBernardis on Navigating Compliance in High - Risk Jurisdictions
    Jun 24 2024
    Welcome to the Hughes Hubbard Anti-Corruption & Internal Investigations Practice Group’s podcast, All Things Investigation. In this podcast, host Tom Fox welcomes back Mike DeBernardis to discuss recent corruption convictions involving individuals connected to Venezuela, as highlighted in Hughes Hubbard & Reed’s ‘Month in a Minute.’ We use these criminal matters as a starting point to discuss how companies can effectively manage compliance in high-risk areas by assessing risks, crafting risk management strategies, implementing specific controls, documenting processes, and training employees. We emphasize the importance of maintaining thorough documentation to meet regulatory requirements and auditing standards. Key Highlights: Month-in-a-Minute Overview Compliance in High-Risk Areas Risk Management Strategies Documenting and Presenting Compliance Resources: Hughes Hubbard & Reed website Mike DeBernardis
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    26 mins
  • Jan Dunin-Wasowicz and Jeff Nielsen on The EU Directive on Harmonization of Criminal Sanctions

    Jan Dunin-Wasowicz and Jeff Nielsen on The EU Directive on Harmonization of Criminal Sanctions
    Jun 3 2024
    Welcome to the Hughes Hubbard Anti-Corruption & Internal Investigations Practice Group’s podcast All Things Investigation. In this podcast, Tom Fox is joined by Jan Dunin-Wasowicz a partner at Hughes Hubbard & Reed, who is a leading figure in trade sanctions and Jeff Nielsen, International Sanctions & Export Controls Lawyer at Rambol, for a deep dive into current issues in export control and economic sanctions. In Part 2 of a special two-part series on All Things Investigations, host Tom Fox is once again joined by Jeff Nielsen and Jan Dunin-Wasowicz to discuss trade sanctions from a global perspective. In this Part 2, Jeff and Jan provide their expertise on the EU Directive on Harmonization of Criminal Sanctions, detailing its implications and the challenges faced in its implementation across the 27 member states. They explain the mechanics of EU sanctions, enforcement disparities among member states, and the directive's focus on setting minimum standards for criminal offenses. The conversation also delves into future outlooks on the EU's stance towards the Russian invasion of Ukraine and the evolving profession of trade sanctions compliance. Key Highlights: Understanding the EU Directive on Harmonization of Criminal Sanctions Challenges and Implications of the Directive Future of Trade Sanctions and Compliance Career Advice for Aspiring Trade Sanction Experts Conclusion and Final Thoughts Resources: Hughes Hubbard & Reed website Jeff Nielsen on LinkedIn Jan Dunin-Wasowicz on LinkedIn HHR client alert on The Dawn of a New Era for EU Sanctions Enforcement? EU Adopts Directive on the Definition of Criminal Offences and Penalties for the Violation of EU Sanctions
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    37 mins
  • Jan Dunin-Wasowicz and Jeff Nielson on Export Control and Economic Sanctions: Current Issues and Practice

    Jan Dunin-Wasowicz and Jeff Nielson on Export Control and Economic Sanctions: Current Issues and Practice
    May 14 2024
    Welcome to the Hughes Hubbard Anti-Corruption & Internal Investigations Practice Group’s podcast All Things Investigation. In this podcast, I joined by Jan Dunin-Wasowicz and Jeff Nielson, International Sanctions & Export Controls Lawyer at Rambol, for a deep dive into current issues in export control and economic sanctions. Jeff Nielsen, an American lawyer with expertise in US and European Union sanctions, currently works at a prominent Danish engineering firm, having transitioned from practicing law in the US to navigating the complexities of international sanctions. Jan​​​​ Dunin‑Wasowicz, a partner at Hughes Hubbard & Reed, is a leading figure in trade sanctions, operating globally out of the Paris office. Nielsen’s perspective on trade sanctions is shaped by his direct experience with US and European Union regulations, viewing the field as dynamic, challenging, and necessitating an understanding of both legal frameworks and international relations. Similarly, Dunin-Wasowicz emphasizes the industry's complexity, dynamism, and the importance of staying informed about global affairs to anticipate risks. His work underscores the increasing role of the private sector in dealing with sanctions, highlighting the need for a proactive and adaptable approach to risk assessment in this evolving field. Key Highlights · Private Sector Role in Evolving Trade Sanctions · Dynamic Compliance Strategies in Trade Regulations · Sanctions Enforcement Disparity: EU vs US · Global Landscape Risk Assessment in Trade Compliance Resources: Hughes Hubbard & Reed website Jeff Nielsen on LinkedIn HHR client alert on The Dawn of a New Era for EU Sanctions Enforcement? EU Adopts Directive on the Definition of Criminal Offences and Penalties for the Violation of EU Sanctions
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    37 mins