Financial firms can now face regulatory action for bullying, harassment, and acts of violence under rules that have come into effect in the United Kingdom to counter sexism, misogyny, and poor corporate culture in the workplace. The Financial Conduct Authority’s (FCA) rules regarding non-financial misconduct (NFM) have been extended so that they not only apply […]
Culture
Posted inArtificial Intelligence
Moody’s urges banks to integrate compliance, culture and AI governance to accelerate processes and drive growth
Compliance teams must focus on governance, culture, and “explainability” to help banks thrive using AI in a competitive, complex regulatory environment. A new survey from Moody’s found this is why most banks now embed compliance from a project’s earliest stages, with only 17 percent treating it as a “final approval gate.”
Posted inCulture
Corporate culture programs: What are the key points of failure?
The benefits of corporate culture programs have been recognized for some time: they contribute to better corporate governance, more effective risk management, and create a better environment for compliance.
Posted inRegulatory Enforcement
Federal Department of Labor employees pressured to report DEI practices by colleagues
The Trump administration is directing employees at the U.S. Department of Labor to report colleagues who engage in traditional diversity, equity, and inclusion practices at work.
Posted inEthics & Culture
WIC Summit Notebook: Hybrid and remote work are great, but career progression is still in-person
As companies continue to grapple with the debate about forcing employees back into the office, and whether bosses should allow hybrid and remote work options as well, career progression seems still tied to in-person interactions.
Posted inRegulatory Enforcement
Supply chain disruptions caused by Republican policies should be managed
If you’re in third-party risk management, handling the latest disruptions brought on by wild gyrations in tariff rates and export control rules by Republican leadership ought to be child’s play.
Posted inAccounting & Auditing
Communication and relationships is increasingly critical for compliance teams
Compliance is increasingly in the spotlight as companies are tackling everything from artificial intelligence and other new technologies to risk management and mitigation. But it’s soft skills of communication and relationship building that are becoming the most critical tools for success.
Posted inAnti-Bribery
CW TPRM Summit: Technology advancements are making export controls more important than ever
Russia’s invasion of Ukraine has sparked a war with unusual implications: The U.S. has stepped up sanctions and export controls. But companies are increasingly learning that the most seemingly innocuous products can find themselves in “dual use,” as a product for daily life and a product for war. A gyroscope or a more advanced GPS chip might help improve a smartphone’s capabilities, but they can also help to guide a missile.
Posted inAnti-Bribery
ESG isn’t just a buzzword, it’s vendor management, forced labor and more
ESG is no longer in vogue. But its issues still are.
Almost none of the nearly 200 attendees at Compliance Week’s Third Party Management summit this week said they’re currently working on ESG when informally surveyed. The show-of-hands results marked a dramatic reversal from even just a couple years ago, surprising even attendees in the room.
Posted inEthics & Culture
Inside the Mind of the CCO: Compliance in an uncertain world, still with fuzzy reporting lines
The world is rapidly changing. The European Union is stepping up rules and enforcement, while the United Kingdom is charting its own course. And now the United States is taking a third tack, with unclear regulation enforcement under a mercurial Donald Trump’s second term as president underway.