Ethics & Culture

Corporate boards and management have had to scramble to understand and implement the new rules under the Sarbanes-Oxley Act. Yet, as far-reaching as the changes Congress has made are, an even bolder agenda may be taking shape at the Securities and Exchange Commission. Recent developments indicate that the Commission is conducting investigations of corporate fraud, […]

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. Describe your duties at Alcoa. I’m part of the global compliance organization. Our chief compliance officer is also chief legal […]

The nation’s largest public pension fund, the California Public Employees’ Retirement System, recently fired off a letter to the Fortune 100 CEOs, asking them to disclose any “interested-party transactions.” Specifically, the fund wants the CEOs to provide information on directors and executives who hold a financial interest in companies with which the CEOs do business. […]

On Monday, November 1, 2004, the U.S. Sentencing Commission’s revised federal sentencing guidelines became effective, requiring directors and executives to “take an active leadership role for the content and operation of compliance and ethics programs.” Promulgated in 1987 and effective since 1991, the guidelines outline the elements of a corporate compliance program, creating a sentencing […]

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 […]

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 […]

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 […]