Compliance

Leveraging COSO’s Internal Control – Integrated Framework Cultures may vary widely, but all organizations should be proactive about building and maintaining a culture of compliance. The COSO Integrated Framework provides extensive guidance on how to accomplish this. Ron Kral offers insights on integrating your company’s C&E program with a control framework. While many organizations have a compliance and ethics program...

How the CEO Can Support Compliance Many executives view compliance as a “check the box” proposition. In this column, LeClairRyan attorneys Brian Lansing and Patrick Hurd argue that a focus on compliance should permeate the entire organization, in much the same way that Amazon obsesses about customer service. It all starts at the top, with the CEO setting the tone....

A Much-Needed Intelligent Approach to Segmentation Anti-money laundering (AML) is a complex and persistent challenge for financial institutions. AI is transforming key elements of the AML workflow and delivering an order of magnitude in performance improvements in the process. Money laundering has become the leading source of compliance fines for North American and European institutions. In 2016 alone, regulators levied...

The New Reality of Compliance More than halfway through 2017, it’s become clear: This is the year that mobile and social technologies, paired with shifting demographics, are changing compliance practices forever. What’s the Big Deal with Mobile and Social? Mobile, social and the changing demographics of the investor community – namely millennials – are changing the way financial services firms...

Here’s How They’re Failing The relationship between compliance officers and the company’s top leadership is a hot one these days, and there are specific ways CEOs can be more effectively supporting compliance practitioners. It’s a complex relationship, but one bears improving in many cases. Avani Desai offers insights into just what executives can do better. When speaking with CEOs and...

ICOs Are Challenging Basic Assumptions If the SEC attempts a more robust approach with initial coin offerings, the broader market’s reaction with be fascinating. In this article, Christian Auty article examines why ICOs present a challenge for the SEC and how this impacts regulatory oversight. According to the SEC, about $50 billion in new securities were issued in the 1920s...

How Much Reliance on Technology is Too Much? The last few years have seen a significant rise in regtech, technological solutions for compliance. These solutions can be hugely helpful to companies as their compliance burdens increase in scope and complexity, but they certainly don’t absolve organisations of the responsibility of fostering a culture of compliance. with contributing authors Jenni Hill,...

A Compliance Officer’s Role in Mitigating This Risk Mobile computing presents a unique set of challenges to compliance officers. Our devices are truly omnichannel and not just dedicated to one aspect of our lives.  No organization can be fully compliant with data protection regulations when its staff carry personal devices with sensitive information on them; many of these devices are likely...

What Does This Mean for You? The Department of Justice (DOJ) has increasingly been using pretrial diversion programs, which often take the form of deferred prosecution agreements (DPAs) and non-prosecution agreements (NPAs), as a tool to hold corporations accountable for wrongdoing. with co-author Briannon Irwin The Department of Justice (DOJ) has increasingly been using pretrial diversion programs, which often take...

And How to Improve the Bottom Line Sales and use tax (SUT) compliance for manufacturers has become so complex that the costs are directly impacting their bottom lines. The manufacturing industry realized the benefits of advancing production with technology long ago; however, those cost savings and quality benefits are not just limited to the production floor. This article examines the...

Your Integrity Policy Matters Mexico’s General Law of Administrative Accountability, set to go into effect next week, is the final part of a historic package of far-reaching anti-corruption laws, dubbed the National Anti-Corruption System, that were passed last year. Taken as a whole, the National Anti-Corruption System will have far-flung consequences for those doing business in Mexico and will expand...

Landmark Decision on Criminal Liability In the ongoing, global fight against corruption, it appears the gloves are coming off. Charges were leveled against the acting director of Kassar Logistics and World Eastern International for his negligence in incorporating the companies despite evident fraudulent activity. Wendy Wysong and colleagues from Clifford Chance detail the sentence and offer advice for directors and...