Companies respond differently to compliance challenges, particularly in the way in which they encourage and embrace whistle-blowers.
A recent court decision is yet another reminder that when it comes to liability often there is no firebreak between the unethical and unlawful. For C&E professionals the takeaway from this history should be that assessing and addressing ethics risks may be necessary to reducing legal exposure.
Two recent events spurred Thomas Fox to write about ethics today instead of his usual topic of corporate compliance.
On March 14, Greg Smith, former executive director and head of Goldman Sachs’ United States equity derivatives business in Europe, the Middle East and Africa, resigned publically with an editorial in The New York Times. What made Greg Smith so morally aware so that he actually quit and “blew the whistle” on Goldman Sachs’ corporate [...]
The March 14 resignation announcement by Goldman Sachs’ executive Greg Smith is already being widely discussed as an indictment of the business practices of Wall Street in general and Goldman Sachs in particular. Good. Just as the outgoing tide of recession and financial catastrophe exposed underlying problems, the rising tide of stock prices and Wall Street profits hides them.
Our crystal ball of ethics and compliance predictions has never been cloudier than at the end of 2011. Political priorities and public perceptions of institutions are traditionally predictive of the ethics and compliance environment. This year, however, inclement weather has been coming from all corners of the globe. In the absence of clear signals, the [...]
Today’s news links include: Ousted HP chief reportedly reaches settlement with accuse; Two tobacco firms settle FCPA charges; and 10 Worst Places to Live.
No, I’m not “happy” with the outcome of either the financial reform legislation or SEC v. Goldman Sachs. I’m a cynic, and, to that extent, let’s just say that my worst fears have come to full realization.
Among today’s headlines: As CEO Hayward remade BP, safety and cost drives clashed; Putin rips US for arrest of Russian spies; and, Oversight law survives Supreme Court ruling.