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- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Aly McDevitt2021-05-17T13:00:00
The Volkswagen monitorship is one of the largest and most high-profile corporate compliance monitorships in history. Coupled with the Volkswagen auditorship conducted at the same time, it also has one of the most unique arrangements: Both were overseen by the same man.
After an illustrious 43-year career in law and government service, former U.S. Deputy Attorney General Larry Thompson came out of retirement to become the German auto giant’s independent compliance monitor and auditor. His remit was to ensure Volkswagen fulfilled its obligations imposed by the DOJ in relation to both criminal and civil resolutions.
“I thought: He’s probably going to give us a really hard time,” said Dr. Thomas Meiers, Volkswagen’s chief coordinator for the U.S. monitorship, regarding Thompson. “At the same time, I thought it’s better to have somebody who’s really experienced, who knows what he is doing, rather than have two or three people whisper in your ear, ‘Oh, take that monitor because that’ll be an easy one.’”
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News and analysis for the well-informed compliance or audit exec. Select an option and click continue.
Annual Membership $499 Value offer
Full price one year membership with auto-renewal.
Membership $599
One-year only, no auto-renewal.
2024-11-25T14:04:00Z By Aly McDevitt
Former U.S. Deputy Attorney General Larry D. Thompson participated in landmark legal cases, such as the Justice Department’s Enron investigation and the Volkswagen Independent Compliance Monitorship. Now his memoir looks back on his extensive career in compliance, offering profound insights into corporate culture, diversity, ethics, and integrity.
2024-04-08T17:05:00Z By Jeff Dale
Volkswagen Group of America Finance was ordered to pay $48.75 million as part of a final judgment obtained by the Securities and Exchange Commission to resolve historical violations related to the automaker’s emissions scandal.
2022-01-31T13:00:00Z By Kyle Brasseur
Learn through the eyes of the C-suite at Vulnerable Electric, a fictional private utility company impacted by a significant ransomware attack, as part of Compliance Week’s third case study.
2024-03-21T16:00:00Z By Aly McDevitt
Both JPMorgan Chase and Deutsche Bank retained their respective Jeffrey Epstein relationships for too long. Yet, there is a case to be made for why exiting a high-risk relationship too soon can become an inverse form of recklessness.
2024-03-20T16:00:00Z By Aly McDevitt
Why did JPMorgan Chase retain Jeffrey Epstein for more than a dozen years? How did the relationship persist despite glaring red flags? The “why” is straightforward; the “how” is more complicated.
2024-03-19T16:00:00Z By Aly McDevitt
Jeffrey Epstein’s designation as a high-risk client should have subjected him to enhanced due diligence that never appeared to occur, most notably at Deutsche Bank. Instead, Epstein was allowed to continue his misconduct despite numerous red flags.
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