A new report from the Society of Corporate Compliance & Ethics finds that most chief compliance officers don’t review incentive-based compensation for possible misconduct risk—an alarming conclusion, since incentive pay is often what causes misconduct in the first place. According to the report, which surveyed more than 400 compliance professionals, only 23 percent have opportunity…
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We all feel pressed for time, with a certain unease that demands of the day distract us from the deeper, more strategic success we really want to achieve. So find some space on your shelf for a new book addressing that exact problem: the Wildly Strategic Compliance Officer Workbook by Kristy Grant-Hart. Grant-Hart is the…
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We start this week’s compliance jobs report at the top: Jay Clayton has a new job as head of the SEC. We also have news from Cognizant, UT Health, Microsoft, plus a bundle of interesting job posts. And to top everything off, this week’s report is unusually funny. I gather these bits of gossip from…
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COSO plans to simplify its forthcoming framework for enterprise risk management, paring back some of the 23 proposed principles and renaming some of the framework’s five components, according to a project summary PwC has been circulating lately. A friend of the cause passed along that presentation to me earlier this week, and the framework’s development…
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On Monday the SEC hit a Korean microchip manufacturer, MagnaChip Semiconductor, with a $3 million fine for accounting fraud—an extensive scheme to falsify revenue for several years, that wiped out more than two-thirds of the company’s value to investors. We have two lessons to learn here. First, even amid all the anti-regulatory fervor of the…
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Compliance professionals may want to keep a sharp eye on Congress this week—House Republicans will be tinkering with regulatory reform legislation. Brace yourselves. The markup, as these sessions are called, will happen in the House Financial Services Committee starting on Tuesday. Lawmakers will chew over the so-called Financial Choice 2.0 Act (also known by its…
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The compliance jobs report starts this week with word that the head of compliance at Och-Ziff has departed, after helping her firm wrap up one of the larger FCPA enforcement actions of 2016. We also have a slew of gossip about who might help run the SEC, and new compliance appointments at General Cable, Air…
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Some lucky corporate whistleblower received $4 million from the Securities and Exchange Commission today, the first whistleblower award issued under the Trump Administration—with an added layer of mystery about whether the award was based on a sanction imposed by a non-financial regulator. As usual, we don’t know much about the case. According to the SEC’s…
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Attorney General Jeff Sessions promised yet again Monday to enforce the FCPA and other anti-corruption laws, in a wide-ranging speech meant to win over corporate compliance officers curious about how seriously the Trump Administration will take corporate misconduct. Sessions spoke to an audience of several hundred at the Ethics & Compliance Initiative’s annual conference in…
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This week’s Compliance Jobs Report kicks off with a new chief compliance officer at Lincoln Financial (yay) who reports to the general counsel (aww…). We also have news from Conifer Health, Uber, and BNP Paribas; plus a slew of work anniversaries and a kooky announcement from SAI Global. Read on. I gather these bits of…
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