It may come as a surprise, but “ethics” has a negative connotation for many in a business context. Similarly, the compliance profession is often viewed negatively, as impinging on employees’ freedom. But those of us on the inside have an entirely different perspective, thinking of compliance as synonymous with integrity. Is it time, then, to rebrand the profession?
Australia’s stance on financial remuneration for whistleblowers could be changing. The nation recently launched a Parliamentary inquiry into the appropriate legal framework for whistleblowers. Currently Australia offers no financial compensation for whistleblowers; supporters feel a “bounty” system is inappropriate, but it could be a profitable business.
Banks and certain other financial organizations must comply with FinCEN's new rules for customer due diligence (CDD) beginning May 11, 2018. Implementing an automated approach to CDD can help meet multiple compliance goals – from reliable client and risk identification to developing comprehensive customer and risk profiles – while also reducing the time and cost of compliance.
India’s government decided in November to demonetize 86 percent of its currency in order to fight corruption. As the country moves toward a cashless economy, risks around the black market, cash stashing and tax evasion will plummet. But anti-corruption legislation only goes so far; a change in social behavior is also necessary. Abhishek Bharti explains.
Under U.S. Securities and Exchange Commission (SEC) and FINRA record-retention requirements, firms must ensure the capture of business-related communications regardless of the devices of networks used. Smarch Chief Evangelist Mike Pagani explains why this mandate is a clear confirmation that the days of only having to maintain compliance systems for email are over.
Bracewell white collar attorneys dissect guidance from the DOJ’s Fraud Section on how it assesses compliance program (and intends to). This guidance provides insight into the questions corporate counsel should expect from DOJ prosecutors during a criminal investigation and highlights common indicators of a strong corporate culture of compliance.
The foundation of an ethical culture is trust and integrity. Employees are proud to work for organizations that prize trust and integrity. When senior leaders act in ways that are contrary to these values, employees’ belief in the company’s integrity plummets. The importance of tone at the top can’t be underestimated; failings in this regard are disastrous.
This whitepaper from Tom Fox looks at the DOJs Feb. 2017 evaluation, which is an 11-part list of questions that encapsulates the DOJ’s most current thinking on what constitutes a best practices compliance program.
ISO 37001 specifies requirements and provides guidance for establishing, implementing, maintaining, reviewing and improving an anti-bribery management system. There is, of course, good cause for businesses in India to adopt the new standard, but it’s likely that there will be some staunch opposition to the change.
A new world of opportunity for community banks may be opening up this year, as new Federal Financial Institutions Examination Council (FFIEC) rules for smaller community banks take effect. The new rules should lessen the regulatory burden community banks face – a welcome change, given that these institutions have been fighting for survival for the past decade.
A common discussion taking place across all enterprises today is the need for digital transformation, a change from legacy to digital processes and procedures. While many of the benefits of modernization relate to improvements in efficiency and productivity, there are several core compliance benefits, as well.
The consequence of doing business with a supplier involved in human trafficking is dire from a regulatory standpoint. But how do you know if your supply chain is compromised? Robust due diligence is imperative, and there are a number of tools and technologies available to help.
Founded in 2010, CCI is the web’s premier global independent news source for compliance, ethics, risk and information security.
Got a news tip? Get in touch. Want a weekly round-up in your inbox? Sign up for free. No subscription fees, no paywalls.
© 2024 Corporate Compliance Insights
Cookie | Duration | Description |
---|---|---|
cookielawinfo-checbox-analytics | 11 months | This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics". |
cookielawinfo-checbox-functional | 11 months | The cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional". |
cookielawinfo-checbox-others | 11 months | This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other. |
cookielawinfo-checkbox-necessary | 11 months | This cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary". |
cookielawinfo-checkbox-performance | 11 months | This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance". |
viewed_cookie_policy | 11 months | The cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data. |