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Since declaring a “cyber war” on Russian President Vladimir Putin in retaliation for his invasion of Ukraine, the hacktivist collective Anonymous has carried out a series of cyber attacks, and Russia’s formidable disinformation infrastructure is responding in kind. As Jonathan Armstrong and André Bywater of London’s legal- and compliance-focused Cordery warn: The conflict, certainly digital...

The unprecedented speed of new economic sanctions against Russia should come as little surprise to those paying attention. But as compliance expert Michael Volkov explains, while more aggressive enforcement actions have been the norm for several years, the presence of new investigations means organizations must double down on their compliance commitments. Hold onto your hats:...

Emerging technologies help companies compete and scale, while providing consumers with speedy access to innovative or safer products. And there’s certainly a role for AI and algorithms in fraud prevention. And yet, regulators are increasingly interested in how emerging technology may — perhaps inadvertently — negatively impact consumers.

We are what we measure. What gets measured get managed. These are common phrases that we are taught in schools, through news media, the markets and within our countries. The things that are easiest to identify and have the most energy and support are financial metrics. These can be gross domestic product (GDP), earnings, revenues,...

Expanded climate reporting will likely tempt marketing teams to try to capitalize on favorable climate performance as disclosed in reporting. But be warned: Disclosure language meeting the SEC’s reporting requirements does not necessarily meet the guidelines of the Federal Trade Commission (FTC).

Aspiring Twitter owner and current Tesla CEO Elon Musk has indicated that if he succeeds in buying the social media platform, its content moderation policies will reflect the bounds of the law. Human Risk Limited founder Christian Hunt writes that while Musk’s tweet shows an apparent lack of understanding for ethics or compliance, it inadvertently...

Twitter’s new boss is waging war on bots. How he gets it done may offer lessons for GRC professionals. The Twitterverse was recently abuzz with commentary about #KYH. The hashtag began trending following a cryptic tweet by Elon Musk stating that, upon taking over ownership of Twitter, he would “authenticate all real humans.” What did...

National and international arbitration venues and lower courts are now seeing corruption-related pleas, disclosures and settlement agreements introduced as evidence of corruption or misconduct. This means GRC professionals will need to collaborate with a new set of stakeholders: arbitration litigators. Often studied and practiced separately, the worlds of anti-corruption compliance and international dispute resolution are...

To police financial crime, more businesses are incorporating artificial intelligence — machine learning, in particular — into monitoring, prevention and compliance programs. CCI interviewed Leslie Bailey, vice president of financial crime compliance strategy at LexisNexis Risk Solutions, who insists the most effective programs are built on a foundation of advanced analytics driven by humans. Bill...

GDPR fines hit hard in 2021, especially hammering fast-growing and evolving businesses for accidental or careless EU GDPR violations. Tugboat Logic's CISO, Jose Costa, explains how creating a privacy-focused culture can minimize risk. When the EU’s General Data Protection Regulation (GDPR) was enacted in 2018, it set a new bar for data protection and privacy...

A strict focus on compliance can stifle creativity and innovation. But a work environment that encourages those traits is key to agility and longevity. The pandemic puts these attributes to the test, spurring business leaders to embrace change and disruption as powerful tools of competitive advantage. Compliance leaders and teams need to consider how they...

Recent aggressive antitrust enforcement activity from the DOJ warrants re-evaluating whether existing corporate compliance programs adequately address organizational and individual antitrust risk. In particular, the DOJ is focusing more acutely on wages, wage fixing, non-compete agreements and related HR issues. These developments will require substantial engagement by the full compliance committee, including the chief legal...

The DOJ’s new enforcement chief is signaling an aggressive approach to competition in digital markets. Compliance expert Michael Volkov warns that big-tech mergers, moat-building and favoritism/discrimination are about to endure closer ongoing inspection.

Good GRC requires data. But just how current and reliable is it? Most businesses are producing something less than “fresh bread,” argue Paresh Chiney and Charles Soha of StoneTurn. From this perspective, they present their recipe for enhancing compliance and risk management.

The Biden Administration is seeking to monitor and address two issues it considers mission-critical: punishing corporate crime and stimulating market competition. Each of these initiatives is likely to attract committed federal enforcement creating major challenges for the compliance committees of all corporate boards. In this first of a two-part series, attorney Michael Peregrine addresses corporate...

On March 24, Utah joined the ranks of California, Colorado and Virginia, becoming the fourth U.S. state to enact a consumer data privacy law. But it will not be the last, says Alexis Kateifides, senior counsel at OneTrust’s Centers of Excellence, in this interview with CCI. Bill Millar, managing editor, Corporate Compliance Insights (CCI): What...

As winter seems to hold out longer than it should, we are faced with the hope of springtime. But spring cleaning can feel like a real chore, both in your personal and professional life. Nonetheless, giving this process a little time and energy can benefit you in multiple ways. Here are a few things to...

One person’s harmless inducement is another’s criminal bribe. With customs, mores and laws that vary by culture, what constitutes bribery in each business context is not always clear. Help your employees and protect your company by providing clear context and explicit rules. I was out the other day and overheard a mother trying to coerce...

A whistleblower alleges corrupt treatment by your company and demands payment or else they’re heading for the authorities. You aren’t aware of any wrongdoing and will need to investigate, but regardless, the clock is already ticking. Kevin Griffith, co-chair of the Whistleblowing, Compliance and Investigations Practice Group at Littler, offers a quick response plan.

How is this for a grim scenario? As business becomes inexorably more technology-driven, audit and assurance teams need more sophisticated technology, but technology requires talent — and technology talent is growing ever more costly and scarce. Dire enough? There are no easy solutions, but as Leslee McKnight, Gartner’s senior director of research, lets us know:...

President Joe Biden signed an executive order March 9 intended to instill consumer protection and financial stability, prevent illicit uses and in general establish a founding for the development of digital assets. While the action signals the rise of new regulations for cryptocurrencies, the SEC still faces legal headwinds. To gather deeper insight, CCI spoke...

During its first-ever review of compliance with Regulation Best Interest (Reg BI), the Financial Industry Regulatory Authority (FINRA) found significant numbers of broker dealers failing to achieve full compliance. By reporting the most common deficiencies, the agency presents a guide to help industry members focus their due diligence. RumbergerKirk partner Pete Tepley walks us through...

Intense focus on the environmental prong of ESG is being driven by a constellation of private actors. Institutional investors, in particular, are making their voices heard through the 2022 proxy season by urging companies to demonstrate meaningful progress on climate and environmental sustainability. And in fact, many companies are already doing so in an effort...

Standardized rule-making on climate disclosures has lagged in the U.S. But no more. Observers like Karen Alonardo of NAVEX Global expect the SEC’s proposed rule to be adopted later this year. Alonardo shares insight into the proposal here, highlighting what companies must do to prepare for heightened disclosure requirements. For years, investors have sought information...

Sanctions against Russian oligarchs and key businesses are unprecedented across at least two key dimensions: (1) The scale: Russia is a major economic power, so its financial tentacles are widespread; and (2) The speed: prior sanctions against countries like Iran or Cuba were enacted over months and years; Russian sanctions took hold in a matter...

Proposed rules relating to incident reporting aim to improve cybersecurity in public companies, but FTI Consulting’s Jordan Rae Kelly suggests the SEC's well-intentioned requirements could have unintended consequences. The SEC recently voted in favor of a proposal that would require publicly traded companies to report cybersecurity incidents and data breaches within four days, as well...

What does a congregation in Charleston, South Carolina, have to do with a Hollywood superstar? In the aftermath of the Academy Awards spectacle, according to ethics and compliance consultant Lisa Schor Babin, they have at least one thing in common. Several weeks ago, I took a trip with friends to the South. During our stop...

Stakeholder capitalism in the ESG era may drive heightened expectations as well as regulations for reporting, transparency and accountability — plus greater pain for those who fail to achieve needed levels of compliance. BDO’s Amy Rojik suggests boards should take a proactive approach to ESG and similar stakeholder capitalism, ensuring sufficient resources, appropriate controls and...

For many industries and companies, 2022 was expected to be a time for recovery and renewal. While the war in Ukraine further stresses an already strained economy, few observers currently envision a recession. Nonetheless, as companies pursue today’s market opportunities, Protiviti’s Jim DeLoach explains how they must also evaluate their contingency plans for dealing with...

Regular fare for compliance professionals includes threats of regulatory enforcement, loss of resources, businesspeople who are intent on undermining the program, investigations into challenging areas, audits, ongoing remediations and many other situations. Ensuring that we are emotionally well and aligned with our purpose is important in an era of dwindling resources. Just as we conduct...