I have long predicted that corporate board members are in for a rude awakening. Corporate boards have to improve their ability and knowledge surrounding supervision and monitoring of a company’s ethics and compliance...more
8/7/2019
/ Blue Bell Creameries ,
Board of Directors ,
Breach of Duty ,
Bribery ,
Caremark claim ,
Compliance ,
Corporate Culture ,
Corporate Governance ,
Corporate Misconduct ,
Corporate Monitoring ,
Corruption ,
DE Supreme Court ,
Derivative Suit ,
Ethics ,
Failure to Comply ,
Fiduciary Duty ,
Food Contamination ,
Risk Management ,
White Collar Crimes
Compliance professionals are implementing their own monitoring and auditing strategies. Internal audit does not have the resources nor the time to assume responsibility for this function. If possible, internal audit may...more
As companies elevate their “game” in sanctions compliance, it is important that compliance officers critically examine the strengths and weaknesses of their compliance programs. Many companies already have a screening...more
In my showcase of profound but obvious points, let me add to my collection – an illegal bribe often turns on the actor’s state of mind. Did he or she act with corrupt intent?...more
As compliance strategies evolve and improve, more attention is being paid to data and measurement of a compliance program. Like every task associated with compliance, professionals have to be smart when it comes to this...more
Chief compliance officers have a hard job. CCOs know that fact and them fully embrace the challenges of their positions. At the same time, CCOs have extraordinary expectations placed on their shoulders – they are rarely...more
NAVEX Global recently released an important compliance report – 2019 Definitive Corporate Compliance Benchmarking Report. NAVEX’s report contains a number of interesting findings and brings together several current...more
7/10/2019
/ Benchmarks ,
Bribery ,
Compliance ,
Conflicts of Interest ,
Corporate Culture ,
Corporate Governance ,
Corporate Management ,
Corruption ,
Data Privacy ,
Ethics ,
Internal Controls ,
Risk Management ,
Sexual Harassment ,
White Collar Crimes
The Justice Potter Stewart phrase, “You know it when you see it,” applies to life issues and even compliance. Global companies struggle with program design, allocation of resources (e.g. human resources and money/assets),...more
When providing compliance program guidance, the Justice Department and OFAC, like every compliance practitioner, will pay homage to the relatively obvious point that there is no one-size-fits-all compliance solution. ...more
We are living in rapidly changing times. I know it sounds trite but it is amazing when you witness rapid innovation and change. Even in our narrow corner of life involving ethics and compliance, we can see change occurring...more
People are good at convincing themselves that everything is okay, despite troubling indications. Sometimes it is easier to ignore warning signs than to face the harsh reality....more
Company managers are the lynchpin of a corporate compliance program. Without belaboring the Tinkers to Evers to Chance baseball analogy, a corporate culture of compliance requires an important information and accountability...more
We all like to believe in straight-forward and consistent trends and developments. For example, compliance programs are improving, budgets are increasing, and CCOs are embracing new technologies. Everything is just rosy...more
The Justice Department’s new Corporate Compliance Guidance is keyed to the concept of a “well-designed compliance program.” Under this concept, we first examined risk assessments and policies and procedures. ...more
5/3/2019
/ Compliance ,
Corporate Culture ,
Corruption ,
Department of Justice (DOJ) ,
Employee Training ,
Internal Communications ,
Internal Controls ,
Internal Investigations ,
New Guidance ,
Risk Management ,
Third-Party ,
White Collar Crimes
The corporate scandal landscape is littered with important examples of governance failures surrounding corporate ethics and mishandling of harassment and sexual assault controversies. ...more
2/12/2019
/ #MeToo ,
CBS ,
Code of Conduct ,
Compliance ,
Corporate Culture ,
Employee Misconduct ,
Employer Liability Issues ,
Ethics ,
Google ,
Risk Management ,
Sexual Harassment ,
Tone At The Top
Chief compliance officers at hospitals face a crushing burden of risks. The HHS-OIG has vigorously scrutinized hospitals compensation of physicians, especially for potential anti-kickback and Stark law violations. Most of...more
2/8/2019
/ Anti-Kickback Statute ,
Compliance ,
False Claims Act (FCA) ,
Health Care Providers ,
Healthcare ,
Healthcare Fraud ,
Hospitals ,
Physicians ,
Risk Management ,
Stark Law ,
White Collar Crimes
We are living in a rapidly changing world (trite, I know) where companies have to focus on data privacy and security for a variety of reasons. Consumers and constituents are concerned about the safety and privacy of personal...more
As compliance programs (and the profession) continue to mature, there is growing interest in the need for measurement, monitoring and auditing of compliance programs. ...more
Technology and computer analytics are important tools in the fight against fraud. But it is not the magic and exclusive bullet. Fraud is committed by humans and investing in the human element, while difficult to measure, is...more
The battle against fraud is evolving and technology is providing new and important tools to detect and prevent fraud. Companies are using a variety of techniques and include: continuous monitoring; email monitoring; anomaly...more
Corporate bribery requires money. How is that for something obvious.
Companies face a variety of threats – one enduring threat is the risk of fraud or theft. Unfortunately, employee fraud is all too common.
...more
It is distressing that corporate boards, CEOs and senior managers receive adequate training. Many CCOs are reluctant to face this issue and recommend (or insist) on appearing before their corporate boards to conduct such...more
Compliance officers have enough challenges. Most compliance officers, if you ask them, will candidly admit they are constantly putting out fires. It is just part of the profession and comes with the territory....more
We all enjoy citing Supreme Court Justice Potter Stewart’s famous description relating to obscene materials, “I know it when I see it.”...more
I am definitely an optimist. Frankly, there is no alternative. Pessimists, by definition, ensure that the result they fear will occur. Another way of saying the same thing – karma is destiny....more