Compliance

In this critical time for compliance officers, Volkov explores the implications of the DOJ's latest move.

Leaders are expected to facilitate the organization’s success; that’s why they’re paid the big bucks. But there are too many layers separating executives from front-line staff, it’s rare for them to hear firsthand where key ethics and compliance issues lie. Richard Bistrong discusses the “good news cocoon” and how to learn what you don’t know in order to fix it.

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?

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.

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 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.

Compliance training is met with moans and groans by employees. It is always seen as a necessary evil. But does it have to be viewed that way? Compliance training expert Ayesha Omer knows better: there are plenty of ways to make it more purposeful and engaging. Read on for tips and strategies to do away with boring compliance training.

“Collaboration, not Subordination” Captive compliance programs are hamstrung programs. Compliance officers who enjoy independence and are able to collaborate with legal, HR and other key business teams… they’ll be far more effective. We’ve long discussed the need for compliance officers to have a seat at the table. It’s time for businesses to graduate to Compliance 2.0. By: Donna Boehme I...

What’s the value of a robust ethics and compliance program? Michael Volkov suggests looking at compliance from a different perspective. An organization committed to integrity in all of its operations is trustworthy – both to its partners and to its clients or consumers. Therefore, a strong E&C program is a real marketing advantage.