Posts Tagged ‘compliance programs’

Real Meaning of the Walmart Case

Walmart fcpa

All weekend I’ve contemplated what to say about Walmart’s FCPA settlement. Quick minds in ethics and compliance have already pumped out paragraph after paragraph dissecting the case, and more minds will pump out more paragraphs still, before everything is said about this landmark case. Except, the Walmart case isn’t a landmark, really. Read the statement…

Read More

Insights From Navex Benchmarking Report

Navex Global has published its latest annual ethics & compliance benchmarking report, a deep dive into all sorts of activities and priorities among corporate compliance programs. It’s a great document to help compliance officers place their own issues in larger context, so let’s take a look at what Navex had to say. Typically Navex publishes…

Read More

Compliance and Inconsistent Discipline

discipline

This week I had the good fortune to attend a luncheon of compliance professionals here in Boston, where we talked about the Justice Department’s new guidelines for evaluating the effectiveness of compliance programs. Our host was Vincent DiCianni, founder of Affiliated Monitors, and he hit upon a great point about what really matters for successful…

Read More

Carnival Dinged $20M on Compliance

Here’s a tale of corporate misconduct on the high seas that compliance officers will want to see: Carnival Corp. has agreed to pay a $20 million fine and hire a chief compliance officer for violating a corporate probation agreement over environmental pollution. The headline is that Carnival had agreed in 2017 to a court-appointed compliance…

Read More

New Compliance Evaluation Guidelines

compliance

The Justice Department released Tuesday a fresh set of guidelines on how prosecutors should evaluate corporate compliance programs: a much longer document, with more narrative explanation about what the Justice Department considers important. Compliance professionals should prepare to obsess over it like last Sunday’s Game of Thrones episode. Assistant attorney general Brian Benczkowski unveiled the…

Read More

Questions on KPMG Compliance Survey

KPMG just published a survey of chief compliance officers that’s chock full of numbers and charts telling where CCOs plan to take their compliance programs in 2019. It’s well worth your time to read — although, to my reading, some of the findings don’t quite add up. The survey polled 220 chief compliance officers at…

Read More

Hotline Metrics: Are You Missing Any?

internal reporting

NAVEX Global released its 2019 Ethics & Compliance Hotline Benchmark Report this week, and raised an important point for corporate compliance officers to ponder: are you using all the right intake channels to capture a true sense of misconduct and corporate culture at your organization? At least, that’s the question that jumps to my mind,…

Read More

$2 Mill Fine for Weak Compliance

compliance

FINRA today hit broker-dealer firm Cantor Fitzgerald with a $2 million fine for sloppy compliance practices that lasted at least five years, in an enforcement action sure to warm a compliance officer’s heart. The offenses related to naked short selling, where an investor first borrows stock to sell at a high price, then buys it…

Read More

Ethics, Compliance, and Corporate Value

compliance

We have one more point to explore about that new research finding that strong internal whistleblower activity correlates to better business outcomes — namely, why a speakup culture and better business outcomes are moving in step with each other, and why that two-step dance is only going become more crucial to corporate success in the…

Read More

Compliance in a High-Interest World

Interest

Lately I’ve been thinking about interest rates and compliance programs. As you might have heard, the Federal Reserve has been raising interest rates for the last several years — from 0.25 percent at the end of 2015 (where they had been since 2009) to 2.25 percent today. The chairman of the Federal Reserve, Jerome Powell,…

Read More