The compliance community has a fresh example of a large misusing performance incentives and souring corporate conduct along the way. This time the company is Citizens Financial Group. Last week the Wall Street Journal had a fascinating feature story about Citizens, citing 11 current and former employees who said they faked data about calls placed…
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We wrap up the first quarter with big news: the head of internal audit at LinkedIn is taking his leave after six years there. (So says his profile on, well, you know where.) We also have compliance jobs news at Ellsworth Adhesives and RiverSource, plus a spate of new product and investment news from the compliance…
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Don’t die of shock, but a new study suggests that the bright idea from Congress five years ago to goose the IPO market by relaxing governance standards for new public companies hasn’t accomplished much. Those filers, Emerging Growth Companies, were created by the JOBS Act of 2012. A study released by the Public Company Accounting…
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The Ethics & Compliance Initiative has lined up Attorney General Jeff Sessions to speak at its annual conference next month. It will be one of the first times Sessions speaks at length about corporate misconduct and the compliance function’s role in preventing it. Landing a sitting attorney general to speak at a compliance conference is…
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Compliance officers who want a glimpse of your future, look no further than the spectacle that unfolded Sunday morning at Denver International Airport: a tale of policy management mismanaged, reputation risk, and plenty of commentary on social media. Some day, some way, a headache like this will be yours. This time the lucky company was…
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Volvo Car Group has announced a new chief compliance officer, picking him up from Dassault Systems. Louis Berger (which is a company) named a new chief integrity officer. We also have personnel moves at Ortho Clinical, Centene, and Meritor, among other companies. And Preet Bharara, recently fired as U.S. attorney, has his first new job.…
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The Senate Banking Committee held its confirmation hearing today for Jay Clayton, the Trump Administration’s nominee to chair the Securities and Exchange Commission. We have a few nuggets of detail worth an ethics & compliance officer’s attention, although the hearing mostly unfolded along predictable lines. On one side were Clayton and Republican members of the…
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William Dudley, president of the Federal Reserve Bank of New York, gave a superb speech in London today about corporate culture and how to push the banking industry to higher standards of good conduct. Anyone who cares about corporate culture, regardless of whether you’re in the banking sector or not, should give his comments a…
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The most important conversation not happening enough in ethics & compliance circles right now is the falling level of trust people have in corporations. If we want an example of how executive conduct puts companies in that position, look no further than health insurance giant Anthem and the recent actions of its CEO. Anthem’s CEO,…
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We are back to a busy compliance jobs report this week. The head of compliance for GE Capital just decamped to MUFG, and Volkswagen has named a coordinator for its forthcoming monitorship. VEON in Amsterdam has a new group compliance officer, and Columbia is looking to hire two professors of ERM. I gather these bits…
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