Though the majority of companies in the U.S. and the U.K. are taking measures to address risks associated with anti-bribery and corruption compliance, important percentages are still struggling with such challenges, especially with third party risks and assessing different international requirements, according to KPMG’s 2011 Global Anti-Bribery and Corruption Survey. In particular, the document published […]
Arielle Bikard
Posted inRegulatory Enforcement
Whistleblower Rules Could Set Off a Rash of Internal Investigations
Compliance departments should now get ready for an onslaught of internal investigations, many of them at the insistence of the Securities and Exchange Commission. Corporate lawyers say the SEC’s new whistleblower rules, adopted last week, will bring a flood of new allegations to an already overburdened agency. The end result? The SEC is likely to […]
Posted inEthics & Culture
Building Ethics Into the Compliance Program
Encouraging employees to engage in ethical behavior and effectively measuring ethical conduct are two of the most challenging aspects of building a strong compliance program. At the Compliance Week 2011 conference in Washington, compliance officers and ethics experts discussed the latest practices for instilling good ethics into the organization and ways to foster a culture […]
Posted inEthics & Culture
Communicating Ethics and Compliance: ‘Keep it Fresh’
The secret to good ethics and compliance communication is to spruce up the delivery and not to be afraid to try new things, said speakers at Compliance Week 2011, which took place this week in Washington. “I think what’s next for me is Tweet Chat— I don’t know what it is, but I’ll try stuff, […]
Posted inUncategorized
Chamber of Commerce Says Whistleblower Rule ‘Undermines’ Corporate Compliance
The U.S. Chamber of Commerce warned that the SEC’s approval today of a rule to award whistleblowers a bounty, under a Dodd-Frank Act provision, will derail corporate compliance programs, since the final rule does not require the whistleblower to report the tip to the company, in addition to regulators. The whistleblower rule will “undermine” companies’ […]
Posted inUncategorized
SEC Approves Whistleblower Rules; Some Concessions Made
The Securities and Exchange Commission adopted a new rule today to reward a bounty to whistleblowers who provide regulators with information on securities law violations that leads to successful enforcement action in a 3 to 2 vote at the agency’s open meeting. The Commission also voted to propose a rule that would disqualify securities offerings […]
Posted inUncategorized
Companies Push for More Clarity on Compensation Adviser Proposal
Companies are looking for more clarification on terms in the Security and Exchange Commission’s proposal to make board members who serve on compensation committees more independent and to minimize conflicts of interest with compensation advisers. The comment period on the proposal, which was released in March, ended last week. The SEC is leaving the details […]
Posted inUncategorized
SEC Will Vote on Final Whistleblower Rule on May 25
The Securities and Exchange Commission will decide whether to pass the final rules for the whistleblower incentives and protection program, as required under the Dodd-Frank Act, at its open meeting on May 25. Under the proposed rule, the Commission would award a bounty to “eligible whistleblowers,” who provide regulators with original information about a federal […]
Posted inFrom the Archive
Credit Rating Agencies Face New Disclosure, Reporting Requirements Under Dodd-Frank
The Securities and Exchange Commission is proposing new rules under the Dodd-Frank Act to increase disclosure and reporting requirements for credit ratings agencies—including mandating that the compliance officer at each rating agency file a separate annual report addressing how well the firm complied with securities laws. According to the proposed rulemaking, which was voted in […]
Posted inRegulatory Enforcement
French Data Protection Authority Increases Compliance Inspections of U.S. Companies
The French Data Protection Authority, La Commission Nationale de l’Informatique et des Libertés will do more inspections of companies and organizations in order to ensure that the transfer of data internationally complies with French and European Union data privacy regulations—and specifically of U.S. companies enrolled in the U.S.-E.U. Safe Harbor Program. “CNIL wants to ensure […]