Last week, the SEC approved Nasdaq amendments that describe the speed with which foreign companies must disclose waivers to their codes of business conduct. The order relates to NASD Rule 4350(n), which requires listed companies maintain a code of conduct that complies with Section 406 of Sarbanes-Oxley. The code is applicable to all directors, officers […]
Ethics & Culture
Posted inEthics & Culture
Analysts At Investment Firms Urge Better Reporting
Last week, a group of analysts at 17 investment firms pushed public companies to “meet a higher standard of reporting” on environmental, social and corporate governance matters. The firms, which represent more than $147 billion in assets, want companies to base their reporting on the Global Reporting Initiative’s “Sustainability Reporting Guidelines.” The GRI is an […]
Posted inEthics & Culture
IOSCO Releases Conduct Code For Credit Rating Agencies
Last week, the Madrid-based International Organization of Securities Commissions proposed a code of conduct for credit rating agencies, which is intended to protect the integrity and analytical independence of the credit rating process. The code, which has been in the works for over a year, was initiated after several high-profile companies like Enron imploded with […]
Posted inAccounting & Auditing
Q&A With Interpublic Group’s Chief Risk Officer
This profile is the latest in a series of weekly conversations with executives at U.S. public companies who are currently involved in establishing and developing compliance programs. An index of previous conversations is available here. Last year Interpublic restated results back into the 1990s, and uncovered more than $180 million in hidden expenses. You were […]
Posted inEthics & Culture
Editorial: Ethics Is Not Enough; The Logic Of Appropriateness
My son has proved for me the theory of evolution. He’s basically a barbarian with a cuter haircut. Never is that more apparent than when he’s eating. Fingers in his food. Mouth packed with Cheerios. Spoon banging on the tray. Snout submerged in his bowl. Hands wiped on his shirt. Face encrusted. The floor coated. […]
Posted inBoards & Shareholders
Enhanced D&O Responsibilities For Compliance, Ethics
Effective Nov. 1, as a direct result of Sarbanes-Oxley’s mandate to the U.S. Sentencing Commission, public company directors and senior executives will assume significantly greater responsibilities to ensure the existence of effective corporate compliance and ethics programs. The amended guidelines essentially set forth two overarching requirements: first, that corporate officers and directors exercise due diligence […]
Posted inBoards & Shareholders
Q&A With Tyco SVP Governance Eric Pillmore
This profile is the latest in a series of weekly conversations with executives at U.S. public companies who are currently involved in establishing and developing compliance programs. An index of previous conversations is available here. You volunteered for this job—lots of people would guess you’re a glutton for punishment. What was your thinking? Well, it […]
Posted inEthics & Culture
No Longer Just an Option: Compliance Training Considered Essential Under New Sentencing Guidelines
New guidelines approved by the U.S. Sentencing Commission have created tough new training standards for companies that hope to demonstrate to regulators that they have an “effective” compliance program. The revised guidelines, proposed by an advisory group last year, made 10 modifications to the original 1991 document, which created a sentencing credit for organizations that […]
Posted inEthics & Culture
Q&A With VP Corporate Compliance At UPS
This profile is the latest in a series of weekly conversations with executives at U.S. public companies who are currently involved in establishing and developing compliance programs. An index of previous conversations is available here. UPS is a sprawling, worldwide company. How does it divide up and manage the compliance function? We created our compliance […]
Posted inEthics & Culture
Q&A With Chief Ethics, Compliance Officer At Abbott Labs
This profile is the latest in a series of weekly conversations with executives at U.S. public companies who are currently involved in establishing and developing compliance programs. An index of previous conversations is available here. You’re chief ethics officer and chief compliance officer. How much of the job is “soft” ethical issues, and how much […]
