Compliance

Today Alexandra Wrage interviews Hui Chen, the first-ever compliance consultant to the Fraud Section of the U.S. Department of Justice. She resigned from the DOJ in May of 2017, having recognized in the administration conflicts of interest and a lack of transparency that she’d expect from companies under investigation. Hui leverages experience in compliance across three industries: tech, pharma and...

The Regulatory Tortoise and The Technology Hare No doubt you’ve now heard about blockchain – at least the word. The hype cycle has been in full swing since late 2015, so fairly soon, someone from the C-Suite will be asking you about compliant ways to operate that blockchain pilot application going live next month. Blockchain as a disruptive and revolutionary...

Compliance Leadership Tips from the Surgeon General Tom Fox recounts some lessons learned from a recent New York Times profile of Surgeon General Nadja Y. West. Her guidance is widely applicable to leaders across industries and specialties, but some of her insights are real nuggets of wisdom for the compliance practitioner in particular. For me, September 11 is the most solemn...

Integrating Dangerous Goods Software into Your ERP System Shipping hazardous materials is a complicated, time-consuming process, and today’s ever-evolving regulations make the task even more challenging. Integrating ERP and dangerous goods software systems simplifies hazmat shipping to streamline supply chain operations and maintain regulatory compliance. Dangerous goods (DG) software should be standard for any organization that ships hazardous materials regularly....

The Importance of Innovation As the global geopolitical landscape grows ever more complex, keeping track of the vastly complicated web of international economic sanctions has become a formidable challenge. In order to steer clear of penalties and avoid reputational damage, compliance departments are going to have to embrace innovation. Keeping up with the latest popular television shows was once a...

How the CEO Can Best Support Compliance Keeping a tight rein on compliance is the name of the game for every business entity, whether early-stage, family-owned or large multinational. And – while it’s the CEO who ultimately sets the tone – the culture of compliance has a strong foundation in the company’s code of ethics and its business conduct. One...

With contributing authors Ali Burney and Nicholas Turner The Office of Foreign Assets Control has just levied a penalty against Exxon Mobil for executing several agreements with Russian oil company Rosneft. The company itself wasn’t the sticking point, though; the agreements might have been fine had they not been signed by Rosneft’s President, who’s recognized by the U.S. as a...

The Critical Importance of Training Recent events clearly reflect the rising tide of liability risk companies face for retaliation against a whistleblower. Surprisingly, a survey just conducted by NAVEX Global reveals that many companies have not committed to compliance training.  Such training is critically important given recent regulatory and legislative developments, and the specific contours of a robust training program...

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...