Compliance into the Weeds copertina

Compliance into the Weeds

Compliance into the Weeds

Di: Tom Fox
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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. Economia Gestione e leadership Management Politica e governo
Episodi
  • Anthropic’s Board Structure-What Does it Mean for Compliance

    Anthropic’s Board Structure-What Does it Mean for Compliance
    Oct 28 2026
    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 of Compliance into the Weeds, Tom Fox and Matt Kelly discuss Anthropic’s filed S-1 registration statement for a forthcoming IPO and focus on what it reveals about corporate governance and risk oversight rather than financials. Kelly notes Anthropic has a seven-member board with three insiders (CEO Dario Amodei, Daniela Amodei, and CFO Christina Rao) and four outsiders, operating through four committees: audit, compensation, nominating/governance, and a safety and risk committee tasked with AI safety, security, and broader legal/regulatory/compliance risks. They question whether a two-member safety and risk committee, chaired by Novartis CEO Vas Narasimhan, alongside Christopher Liddell, has sufficient capacity, and observe the committee has an undisclosed written charter. They also flag uncertainties about Anthropic’s internal compliance/risk leadership and reporting filters, potential amended filings, and a five-member long-term benefit trust (one seat vacant) with influence over nominating outside directors. Key Highlights · Anthropic IPO S-1 overview · Board size and committees · Risk committee staffing questions · CEOs talking about AI risks · More filings and disclosure gaps Resources Matt 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 a Top 25 Regulatory Compliance Podcast and 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 Award, all for podcast excellence. Learn more about your ad choices. Visit megaphone.fm/adchoices
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    21 min
  • Bank of America’s $1.2B AML Breakdown: Too Big to Remediate?

    Bank of America’s $1.2B AML Breakdown: Too Big to Remediate?
    Oct 21 2026
    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 of Compliance into the Weeds, Tom Fox and Matt Kelly discuss the recent OCC and Federal Reserve enforcement actions against BAO for $1.2bn. The enforcement action against Bank of America (with OCC, FinCEN, OFAC, and others) was for BOA’s failing to maintain an effective Bank Secrecy Act/AML program, including flawed transaction monitoring that led to inadequate suspicious activity reporting, weak customer due diligence, and deficient sanctions screening, sometimes with law enforcement flagging issues to the bank rather than the reverse. They place this alongside recent actions against UBS, American Express, and a New York DFS fine of SEB, arguing recurring failures stem from poor transaction analysis. Kelly ties Bank of America’s problems to its homegrown “Event Processor” system launched in 2010, criticized for arbitrary risk-scoring thresholds and lack of recalibration, compounded by insufficient staffing and management support. They highlight governance and accountability concerns, including unresolved prior findings from a 2024 OCC order, questions about board compliance oversight, and doubts that fines alone will drive lasting remediation. Key Highlights · BofA Fine Breakdown · What Went Wrong in AML · How the Tech Failed · Leadership and Culture Accountability · Fixing It People and Oversight · Risk Assessments and Too Big to Remediate Resources Matt in Radical Compliance Tom in the FCPA Compliance Report Tom Instagram Facebook YouTube Twitter LinkedIn A multi-award winning podcast, Compliance into the Weeds was most 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. Compliance into the Weeds has been conferred a Davey, Communicator and w3 Award, all for podcast excellence. Learn more about your ad choices. Visit megaphone.fm/adchoices
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    28 min
  • Amex AML Enforcement: Credit Card Risk, SAR Failures, and Board Accountability

    Amex AML Enforcement: Credit Card Risk, SAR Failures, and Board Accountability
    Oct 14 2026
    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 of Compliance into the Weeds, Tom Fox and Matt Kelly discuss the recent OCC and Federal Reserve enforcement actions against American Express. The penalties included a $350 million civil penalty, cease-and-desist orders, and extensive compliance obligations tied to weaknesses in customer due diligence, suspicious activity reporting, staffing, and risk assessment. Tom highlighted that Amex processed billions of transactions, many ordinary credit-card transactions, showing banks must know all customers, not just high-dollar activity, and note regulators’ broader pattern of similar actions across the industry as financial innovation outpaced compliance investment. Matt noted that regulators depend on SARs as critical inputs for broader enforcement “mosaics,” explaining why SAR failures draw intense scrutiny. The orders’ notable feature is direct board involvement, requiring a board-level compliance committee and action plan to hold management accountable, with a strong focus on end-to-end documentation and evidence trails; they see no facts suggesting the egregious, employee-involved criminality seen in TD Bank. Key Highlights · Industry Pattern and Root Causes · Innovation as Compliance Risk · Board Oversight Mandates · Why SARs Matter · DOJ Risk and TD Bank Comparison · Disjointed Compliance and Fixes Resources Tom in the FCPA Compliance Report, Part 1 and Part 2 Tom Instagram Facebook YouTube Twitter LinkedIn A multi-award winning podcast, Compliance into the Weeds was most 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. Compliance into the Weeds has been conferred a Davey, Communicator and w3 Award, all for podcast excellence. Learn more about your ad choices. Visit megaphone.fm/adchoices
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    21 min
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