The Man From FCPA

The role of the board of directors in a best practices compliance program takes on even more importance when senior management engages in recalcitrant conduct. It remains to be seen if the CBS board will step up in a time of crisis.

How can a board of directors work to incorporate the compliance function into a long-term business strategy of the organization? Tom Fox has a few ideas. 

Incorporating the compliance function into a long-term business strategy starts with answering three important questions. 

The Man From the FCPA asks, “What is the role of a board of directors in hiring senior executives, chief compliance officers, and even other board members?” Both fiduciary risk and exposure for the board of directors cannot be overlooked.

A look at some best practices for chief compliance officers to follow when reporting to the board of directors.

How can a board work to incorporate the compliance function into a long-term business strategy of the organization? The Man From FCPA offers some suggestions.

Internal controls for a board or board compliance committee should be broken down into five concepts, says The Man From FCPA.

Chief compliance officer reporting to the appropriate board of director’s compliance committee has to be structured carefully to promote ethics and compliance. Inside are five best practices that should guide the reporting.

The Federal Reserve Bank this month assessed a penalty against Wells Fargo for the bank’s widespread customer abuse from its fraudulent accounts scandal, other regulatory violations, and lack of response by the bank’s doard of directors to these problems and other risk management issues.

The case of Outcome Health is a clear lesson for the anti-corruption compliance practitioner: Levels of oversight not only provide a backup to make sure that no mistake should slip through, but also the rigor of financial oversight. 

It is incumbent that boards seek out and obtain sufficient information to fulfill their legal obligations and keep their company off the front page of the New York Times, Wall Street Journal, or Financial Times, just to name a few, to prevent serious reputational damage. A board compliance committee is a good place to start. 

The Man From FCPA reveals what expertise is needed on the board of directors when your company is evaluated under the factors set out in Prong Three of the FCPA Pilot Program and the Evaluation of Corporate Compliance Programs.

Have boards of directors finally begun to wake up to their role in the fight against bribery, corruption and unethical corporate behavior? Tom Fox explores.

Board members must learn to take a more active role to not only prevent scandals—but when they do arise, ask tough questions of management and the compliance function about what is being done to remediate the situation.

The recent corporate scandal at Wells Fargo highlights the need for boards of directors to have a committee devoted to compliance.

The Wells Fargo fraudulent account scandal still resonates as one of the most prime examples where the continued fallout from a board’s failure in the area of oversight of risk management is working to damage the organization.

The Wells Fargo fraudulent accounts scandal is enforcing a good trend: shareholder activism directed at the board for better risk management. Tom Fox reports.

Tom Fox explores the case of Hans Dieter Pötsch, chairman of the VW supervisory board, who could be held responsible if German prosecutors find the board had actual knowledge, but failed to keep shareholders abreast, of the emissions-testing scandal and its potential costs.