Governance

It is rare these days for Republicans and Democrats to agree on political priorities – another profound grasp of the obvious.  Recently, on Capitol Hill there appears to be some common ground on the issue of reforming AML laws and regulations. The motivation is to make financial AML regulations “smarter” and increase focus on beneficial ownership, terrorist financing and proactive...

At stake in the prolonged debate over a “best-interest” standard of care for retirement advice are $7.5 trillion in 401(k)-type assets and $8.4 trillion in IRA assets. Whether or not the Department of Labor (DOL) and the Securities and Exchange Commission (SEC) will eventually come to agreement on a uniform standard of conduct remains to be seen, but the SEC’s...

The Financial Industry Regulatory Authority is under the radar for many organizations. Being fully aware of the violations and their consequences can prevent unneeded issues. 

New eBook from Michael Volkov Corporate Boards are Due for a Rude Awakening The compliance revolution has had a dramatic impact on important actors in the compliance arena – the rise of chief compliance officers, the redefinition and elevation of chief ethics officers, and a dramatic increase in compliance-related functions and responsibilities. Yet, we have failed to see any significant...

To all the “nattering nabobs of negativity” concerning FCPA enforcement, the US Justice Department responded with a resounding message – not only is FCPA enforcement here to stay, but individual violators are on DOJ’s radar screen. In an FCPA enforcement week like no other, the Justice Department unveiled a total of seven charging documents (indictments or informations) for FCPA violations,...

Expanding the View to Include Culture Does your organization view compliance as a “check the box” exercise? Many companies do. Chuck Saia, CEO of Deloitte Risk and Financial Advisory, feels differently and shares five ways a board can start broadening its view – and management’s view – of compliance to include issues of culture. With so many strategic issues to...

How to Avoid Costly Missteps Russell Reynolds Associates’ Cynthia Dow and Anthony Goodman, compliance and board experts, interviewed leading chief legal officers, chief compliance officers, former investigators and board directions to under the biggest compliance missteps boards make. with co-author Anthony Goodman We can all easily recount a recent compliance problem that became front-page news. But what’s not so easy...

3 Multidisciplinary Lessons Learned GRC leaders shouldn't expect to find an off-the-shelf GRC solution that truly meets their needs. Instead, they should focus on adopting a balanced, iterative approach, likely one involving a variety of technology schemes that include practical, best-practice steps to encourage multiple assurance stakeholders to recognize their shared goals and frameworks while also supporting the unique needs of each group....

Control or be Controlled: 5 Problem Areas for Boards Compliance is evolving, and board members may now be unsure of their related responsibilities. Board members are more and more reliant on the data obtained from information systems to make their decisions. How can they use this information, and what are the traps they need to avoid? The role of the...

How Involved is Your Board? It’s long been said that an effective compliance program can’t exist without a strong culture of ethics and compliance. Also critical is tone from the top, without which there’s no clear directive for the organization and employees on the importance of compliance. The board of directors plays a critical role in setting the right tone....

While many expect the new administration and Congress to chip away at employee protections, several initiatives in Congress and the executive branch suggest a trend in the opposite direction for federal employees. Two Acts currently pending in Congress are designed to fill gaps in protection for federal employees and prevent agencies from enforcing gag orders.

The SEC’s new and proposed rules allow companies to update and simplify their disclosure requirements as part of the SEC’s overall disclosure effectiveness review. This modernization of the SEC disclosure system discussed in the SEC’s Regulation S-K concept release in 2016 is designed to eliminate redundant, overlapping and outdated requirements and align them with current accounting principles and improvement in...