In my July column, I wrote about the connection between corruption and the environment. But corruption also has a link to the “S” of the environmental, social, and governance (ESG) pillars. Corruption is both a cause and a...more
9/4/2024
/ Compliance ,
Cooperative Compliance Regime ,
Corporate Governance ,
Corruption ,
Ethics ,
Financial Crimes ,
Forced Labor ,
Fraud ,
Governance Standards ,
Human Trafficking ,
Popular ,
Slavery ,
Supply Chain
The Organisation for Economic Co-operation and Development (OECD) recently released the first edition of its Anti-Corruption and Integrity Outlook, and the report provides an interesting glimpse into the anti-corruption and...more
Writing, implementing, and enforcing strong compliance-related policies is critical to any compliance and ethics program. So, why do so many compliance failures occur due to breakdowns in internal controls?...more
7/15/2024
/ Chief Compliance Officers ,
Chief Ethics and Compliance Officers (CECO) ,
Compliance ,
Corporate Communications ,
Corporate Culture ,
Corporate Governance ,
Employees ,
Ethics ,
Internal Controls ,
Policies and Procedures ,
Strategic Enforcement Plan ,
Training
Anytime a compliance violation occurs—or even a breakdown in compliance controls that doesn’t ultimately result in noncompliance—the remediation process takes center stage. And this is where questions of how and why are...more
6/4/2024
/ Chief Compliance Officers ,
Chief Ethics and Compliance Officers (CECO) ,
Compliance ,
Compliance Monitoring ,
Corporate Governance ,
Enforcement ,
Healthcare ,
Internal Controls ,
Noncompliance ,
Policies and Procedures ,
Remediation
2024 represents the 25th anniversary of the Organisation for Economic Co-operation and Development (OECD) Convention on Combating Bribery of Foreign Public Officials, which has now been signed by 46 countries—including eight...more
6/4/2024
/ Anti-Bribery ,
Anti-Corruption ,
Best Practices ,
Bribery ,
Chief Compliance Officers ,
Chief Ethics and Compliance Officers (CECO) ,
Compliance ,
Corporate Governance ,
Corruption ,
Ethics ,
Noncompliance ,
OECD ,
Regulatory Requirements ,
Risk Management
A recent issue of SCCE’s Corporate Compliance Weekly News contained a link to a startling report I was not previously familiar with. An investigation by the U.S. Coast Guard found numerous instances of sexual assault spanning...more
4/26/2024
/ Chief Compliance Officers ,
Compliance ,
Compliance Management Systems ,
Corporate Culture ,
Corporate Governance ,
Corporate Management ,
Disclosure ,
Ethics ,
Internal Controls ,
Internal Investigations ,
Risk Management ,
Self-Reporting
As we’ve noted here before, numerous environmental, social, and governance aspects have very clear compliance ramifications, whether in the form of laws and regulations or stakeholder expectations that can result in serious...more
4/26/2024
/ Chief Ethics and Compliance Officers (CECO) ,
Climate Change ,
Compliance ,
Compliance Management Systems ,
Corporate Governance ,
Corporate Social Responsibility ,
Environmental Social & Governance (ESG) ,
Ethics ,
Regulatory Requirements ,
Reporting Requirements ,
Risk Management
Much has been written about the importance of identifying lessons learned and taking remedial action in the aftermath of an investigation into compliance failures. But an equally valuable exercise can result from exploring...more
4/1/2024
/ Chief Ethics and Compliance Officers (CECO) ,
Compliance ,
Compliance Monitoring ,
Corporate Governance ,
Failure to Comply ,
Internal Controls ,
Internal Investigations ,
Investigations ,
Remedial Actions ,
Risk Assessment ,
Risk Management
There’s good and bad news out there for compliance departments, and it’s also the same news: Governments now very much appreciate strong compliance programs.
On the one hand, that is very good (if not great!) news....more
There it is on page 39, under “Compliance Leadership and Oversight: The Compliance Officer’s Primary Responsibilities”:
“. . . the compliance officer should not lead or report to the entity’s legal or financial...more
On July 31, the European Commission adopted the first set of rules under the European Sustainability Reporting Standards (ESRS). The ESRS is an important follow-up to the adoption of the Corporate Sustainability Reporting...more
11/6/2023
/ Compliance ,
Corporate Governance ,
Disclosure ,
Environmental Social & Governance (ESG) ,
EU ,
European Commission ,
Internal Controls ,
New Rules ,
Policies and Procedures ,
Regulatory Standards ,
Reporting Requirements ,
Sustainable Business Practices
Two stories in the news recently caught my eye. In the first, a janitor allegedly shut off the power to a freezer after hearing “annoying alarms.” He ended up ruining decades of research. In the other story, an American...more
Sometimes I think we need fewer terms to describe the same or similar things. In the environmental, social, and governance (ESG) world, much is made—rightfully so—of greenwashing, which occurs when an organization makes false...more
9/11/2023
/ Climate Change ,
Compliance ,
Corporate Governance ,
Corporate Social Responsibility ,
Disclosure ,
Environmental Social & Governance (ESG) ,
Fraud ,
Greenwashing ,
Misleading Statements ,
Misrepresentation ,
Sustainable Business Practices ,
Willful Misconduct
Hotlines are an incredibly valuable tool for identifying compliance issues and many other problems. Every organization should have a system for people to report—either anonymously or with reporter identification....more
The Wall Street Journal recently reported that the CEO of Uber spent time driving for the company under an assumed name. He filled out the forms like any prospective driver and drove around customers....more
I can’t think of a better example of the convergence of environmental, social, and governance (ESG) factors, compliance, and ethics than in marketing and public relations. This area is filled with opportunities and risks...more
7/13/2023
/ Business Strategies ,
Compliance ,
Corporate Governance ,
Corporate Social Responsibility ,
Diversity and Inclusion Standards (D&I) ,
Environmental Social & Governance (ESG) ,
Ethics ,
Federal Trade Commission (FTC) ,
Greenwashing ,
Marketing ,
Public Communications ,
Public Relations ,
Reporting Requirements ,
Risk Management ,
Shareholders
I recently was at HCCA’s 27th Annual Compliance Institute, and among the many great sessions was one in which the discussion addressed the use of fear tactics in compliance training. Citing examples of organizations and...more
A recent news report reminded me of how difficult it can be to manage compliance and environmental, social, and governance (ESG) risks. You may have seen the report: a tiny capsule the size of a small coin fell out of a truck...more
In the United States, the Securities and Exchange Commission (SEC) has been active in providing guidance and publishing new environmental, social, and governance (ESG) requirements. But the European community continues to...more
3/2/2023
/ Climate Change ,
Corporate Governance ,
Disclosure Requirements ,
Environmental Social & Governance (ESG) ,
EU ,
Investment ,
Reporting Requirements ,
Securities and Exchange Commission (SEC) ,
SFDR ,
Sustainable Business Practices ,
Transparency
Minimizing a corporation’s taxes through legitimate tax planning is perfectly legal, whereas tax evasion is a compliance issue. Somewhere in between is a plethora of other tax issues, making tax transparency an important...more
I recently returned from the Corporate Compliance Outreach Event—presented in late September by the Federal Bureau of Investigation (FBI)—a popular event SCCE & HCCA has sponsored with the FBI annually. I last wrote about the...more
For inspiration in writing this month’s column, I looked no further than my own colleague, Adam Turteltaub, SCCE & HCCA’s chief engagement and strategy officer, who wrote a piece for the Society of Corporate Compliance and...more
CEP Magazine - December 2022 -
In September, U.S. Department of Justice (DOJ) Deputy Attorney General Lisa O. Monaco announced new guidelines the department will use in connection with criminal enforcement. Those...more
12/8/2022
/ Clawbacks ,
Cooperative Compliance Regime ,
Corporate Counsel ,
Corporate Crimes ,
Corporate Governance ,
Corporate Misconduct ,
Criminal Prosecution ,
Department of Justice (DOJ) ,
Enforcement Actions ,
Executive Compensation ,
Investigations ,
New Guidance
CEP Magazine - November 2022 -
Inspiration sometimes comes from unexpected places. I like to read books on a variety of topics. In one I read recently, the astrophysicist author described the second law of thermodynamics...more
CEP Magazine (September 2022) -
Incentive plans for corporate executives have been linked to financial metrics for many years. Adding environmental, social, and governance (ESG) metrics to these compensation plans is a...more