Compliance

Getting compliance requirements wrong means wasted time and added frustration, for sure. But the bigger threat: missing the mark can jeopardize your organization’s financial and legal standing. This article discusses the top six challenges of defining and managing high-quality regulatory compliance requirements.

The U.S. Treasury is introducing new anti-money laundering and terrorist financing legislation and regulations, including the Customer Due Diligence (CDD) Final Rule. As well as attempting to control the activities of foreign investors who register businesses in the U.S., the Treasury is also aiming to create processes to ensure that American businesses are more transparent.

By integrating a compliance framework into the customer communications design and development workflow from the start, regulated organizations can simultaneously achieve what can seem to be the competing goals of ensuring compliance and maintaining flexibility in document design. A holistic approach is needed to ensure compliance in regulated industries.

Some simple tweaking can be all it takes to make online compliance training courses more successful. Add a few elements here and there to your training program to reduce noncompliance in your organization. Since most compliance violations can be attributed to ignorance rather than ill will, a more effective instructional program should be top priority.

June and the first part of July have seen some significant developments in global compliance. Here are some of the standout stories, covering celebrities, the elite, governments near and far and more money-laundering schemes than you can shake a stick at.

It is a sad reality that many whistleblowers are subject to serious repercussions for shedding light on corporate wrongdoing. For the want of support from compliance leadership, their acts of public service are rewarded with lawsuits and threats. The compliance function must work to insulate whistleblowers from retaliation at the very least.

People find their work meaningful primarily when they perceive their work as important in the grander scheme of things. As you can imagine, this is highly subjective. However, a sense of futility in one’s work can most often be traced back to the organization and its leaders. That said, leaders can take an active role in engendering a feeling of...

In order to build and maintain a strong ethics and compliance function, top leadership needs to check in periodically with the head of compliance – and ask the hard questions. While the answers to some of their questions may be tough pills to swallow, awareness of an issue is necessary if improvement is ever to happen. Start the conversation with...

We stand at the precipice of a financial technological revolution. Mobile devices are ubiquitous, and the fast adoption rate in LATAM is giving consumers considerable power when evaluating and comparing alternative financial services. MSBs must rethink their strategy as new markets emerge due to these technological disruptions and new firms entering this sector.

The Supreme Court has decided that a determination by the Army Corps of Engineers that a given property contains wetlands is immediately reviewable by a federal judge. Previously, the Corps had told property owners they could ask a judge to review a decision by the Corps to deny a permit, but not a wetlands determination. This article examines the basis...

Training is one part of how companies manage their compliance with laws, regulations and, most importantly, their corporate reputation through compliance (the ultimate barometer of their value). This white paper from Tom Fox outlines ways in which companies can get the most out of training -- based on what they put it in it.

This piece was originally shared on Thomson Reuters' blog and is republished here with permission. As compliance officers continue to complain of regulatory fatigue, a major annual survey reveals that few expect the burden to diminish in the coming year. The sheer volume and scope of regulatory change, coupled with concerns about the personal liability of compliance managers, has made the...