Corporate leaders know what to say and when to say it – for example, a CEO may state at an employee meeting, “We want to hear your concerns. We want you to bring these concerns forward and we will address them. We are...more
We often read about lucrative bonus payments made to CEOs and other senior executives. With refinements in corporate governance structures, shareholders and investors are raising concerns over executive bonuses. To bring...more
Corporate governance frameworks seek to maximize management efficiency, risk mitigation, and business success. The most important tool for accomplishing these objectives is straightforward – a Culture of Ethics and...more
Over the last year, ESG has become a political football as state actors have passed legislation to prevent state pensions and other institutions from weighing ESG factors in investment decisions. These prohibitions have...more
Even with the current focus on sanctions compliance, many companies have done little to assess and enhance their existing sanctions compliance program. Instead, a number of companies have stitched together a basic sanctions...more
Let’s move beyond the headline – trade compliance is the new FCPA. We get it. The next step is to do something about it. The Justice Department has repeated this refrain – it is one of its greatest hits. In addition, DOJ,...more
5/17/2023
/ Anti-Corruption ,
Compliance ,
Compliance Management Systems ,
Corporate Governance ,
Corporate Misconduct ,
Corruption ,
Department of Justice (DOJ) ,
FCPA Guidance ,
Foreign Corrupt Practices Act (FCPA) ,
Internal Controls ,
Office of Foreign Assets Control (OFAC) ,
Risk Assessment ,
White Collar Crimes
I’m old enough to remember when seat belts were optional. And I remember people up in arms when seatbelt laws first passed. But now, my young adult children and their friends simply get in the car and buckle up without...more
Companies have to demand a new focus from their CEOs, senior executives and legal compliance team in response to the new DOJ and regulatory initiatives. These steps are not just suggestions nor items that can be prioritized...more
We are living in a rapidly changing economic landscape. Companies are under the gun to navigate “traditional issues,” such as challenging economic conditions ranging from inflation, and a predicted recession, to supply chain...more
The famous swashbuckling adventure of The Three Musketeers should inspire chief compliance officers to pursue an important concept – the need for teamwork and collaboration is imperative for all compliance programs. We all...more
Once defined, installed, and surrounded with a consequence management system, a corporate culture is not fixed in stone. To the contrary, as the business adapts through growth, innovation or in response to outside market and...more
As a company’s most valuable intangible asset, we have witnessed the wreckage of companies that have fallen victim to reputational damage, scandal and ultimately the wasteland of a rotten corporate culture. In these...more
Everyone has jumped on the corporate culture bandwagon. For some new converts, they like to espouse corporate culture as a recent discovery, or a new-fangled approach for compliance programs....more
NAVEX Global always provides insightful and important whitepapers and annual reports. One of the more important annual reports is NAVEX’s Hotline and Incident Management Report. Given Navex’s important position in the...more
4/18/2023
/ Annual Reports ,
Anonymity ,
Compliance ,
Corporate Culture ,
Corporate Governance ,
Corruption ,
Employees ,
Employment Discrimination ,
Hotlines ,
Oral Complaints ,
Retaliation ,
Whistleblower Hotlines ,
Workplace Harassment Guidance
The Justice Department’s recent emphasis on ethics and compliance culture, along with greater specificity on “consequence management” is a welcome breath of fresh air. It is a policy coming for a long time and will bring...more
The Justice Department is rapidly pushing corporations to a new level of compliance. We are witnessing a watershed moment – DOJ is raising the bar on expectations surrounding corporate compliance programs. It would be a...more
The Justice Department continues to push on white collar corporate enforcement, and the intersection of national security sanctions and export controls with corporate criminal enforcement. Last week, Lisa Monaco, DOJ’s...more
3/10/2023
/ Administrative Appointments ,
Anti-Corruption ,
BSA/AML ,
Compliance ,
Compliance Management Systems ,
Corporate Culture ,
Corporate Governance ,
Criminal Investigations ,
Department of Justice (DOJ) ,
Economic Sanctions ,
Ethics ,
Export Controls ,
Money Laundering ,
White Collar Crimes
It is fun to follow all the early year views of trends, predictions and survey results. The beginning of the year includes lots of perspectives and analyses.
Corporate boards are at the center of these important views....more
LRN continues to provide important insights and trends on the importance of ethics and compliance programs. LRN’s annual report is an important resource and needs to be reviewed by the board, senior management and all...more
In a far-reaching decision with significant implications, the Delaware Chancery Court recently issued a decision confirming that Caremark duty of oversight obligations extends to senior officers. This will have an immediate...more
2/14/2023
/ Board of Directors ,
Breach of Duty ,
Caremark claim ,
Corporate Culture ,
Corporate Governance ,
Derivative Suit ,
Duty of Loyalty ,
Fiduciary Duty ,
McDonalds ,
Sexual Harassment ,
Shareholder Litigation
I always enjoy pulling out the crystal ball and looking forward with due consideration of last year’s trends. It is a perspective that gives us all the opportunity to identify important trends and to set an agenda for the...more
DOJ’s decision to examine corporate compensation programs as an important part of a compliance program should be welcomed. DOJ’s initiative asks a very good question – how can incentives and disincentives be used to promote...more
12/1/2022
/ Bad Actors ,
Clawbacks ,
Compensation & Benefits ,
Compliance ,
Corporate Governance ,
Corporate Officers ,
Department of Justice (DOJ) ,
Directors ,
Executive Compensation ,
Incentive Compensation ,
Publicly-Traded Companies ,
Regulatory Agenda
It is easy to be dogmatic in blog postings — to express an unvarnished opinion that sounds valid. While it may not be supported by hard data or valid evidence, compliance officers are used to trusting their “gut feelings,”...more
We constantly hear about the importance of “accountability,” meaning that organizations and individuals have to be held accountable for misconduct or failures to act. The focus on accountability is a positive trend,...more
The Monaco Memo is a watershed moment as part of DOJ’s evolution and advocacy for effective ethics and compliance programs. We have seen prior moments of significant action — DOJ’s adoption of the FCPA Guidance, DOJ’s...more