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Corporate Compliance

What is compliance?

Compliance means to conform, abide by, or obey a rule, policy, regulatory standard, or law. Corporate compliance specifically refers to the manner in which businesses abide by the rules applied to them. Most large, public companies have considerable compliance requirements. Likewise, companies within certain highly regulated industries—such as banking and financial services, healthcare, biotech, defense contracting, and more—also have serious compliance requirements.

What is a compliance violation? 

A compliance violation is when an organization fails to abide by the internal and external rules, regulations and policies it must obey. The severity of compliance violations can range from minor, internal, non-criminal policy breaks that result in internal review and censure, to major federal or international law enforcement prosecutions that result in massive financial fines and jail time.

What is a compliance program?

A compliance program is an organization’s official set of rules, policies, and procedures it expects all employees, executives and directors to uphold. The program also entails the efforts made by compliance officers and other internal stakeholders (such as counsel) to enforce these standards.

What is a compliance officer? 

A compliance officer is the professional tasked with designing, implementing, and overseeing an organization’s compliance program. An organization’s compliance staff can vary in size from just one officer to a large team, with its most senior member acting as the Chief Compliance Officer.

What is compliance training? 

Compliance training is the method by which compliance officers educate all internal stakeholders of the requirements and details of the compliance program. This can entail instruction on the more detail-oriented aspects of compliance, such as explanations of specific rules, how to report compliance violations, and how to provide data compliance officers must collect and report to regulatory authorities. This can also entail more abstract training, such as understanding how to navigate ethical dilemmas.
 

The Man From FCPA Blog

Tell us everything you know

Tom Fox | October 18, 2016

Getting credit for cooperating with the Department of Justice is getting a whole lot tougher. Tom Fox explores.

Coffin on Compliance Blog

A simple, brutal solution to dishonesty

Bill Coffin | October 3, 2016

To contain bad behavior, we need first to understand why we behave badly. Or do we? Perhaps sometimes the harshest compliance solutions are the least empathic … and the most effective. Bill Coffin has more.

The Man From FCPA Blog

Reflections on the compliance profession

Tom Fox | September 28, 2016

The Man From FCPA Tom Fox reflects on the changing role of the compliance practitioner and other lessons learned at the recent 15th annual SCCE Compliance and Ethics Institute in Chicago.

The Filing Cabinet Blog

How Does Your Compliance Officer Salary Stack Up?

Jaclyn Jaeger | October 9, 2015

A new report compiled by the Society of Corporate Compliance and Ethics offers benchmarking data for chief compliance officers who want to see how their salaries compare to those of their peers. The report, which compares average compliance officer salaries by industry, size of company, and tenure, finds that CCOs in the utilities industry top the list, with an average salary of $286,333. More findings inside.

Grapevine Blog

SCCE Announces 2015 Award Winners

Matt Kelly | August 12, 2015

The Society of Corporate Compliance and Ethics has announced the winners of its annual achievement awards, to be honored in October at its annual conference. Winners range from FCPA bloggers to building products companies. More inside.

Grapevine Blog

SCCE Announces 2015 Award Winners

Matt Kelly | August 12, 2015

The Society of Corporate Compliance and Ethics has announced the winners of its annual achievement awards, to be honored in October at its annual conference. Winners range from FCPA bloggers to building products companies. More inside.

Grapevine Blog

W&T Offshore general counsel retires

Scuttlebutt | May 1, 2017

W&T Offshore announced the retirement of Thomas Getten as vice president, general counsel, and secretary. He is succeeded by Shahid Ghauri, who joined the company in March 2017.

 

Grapevine Blog

Air Products appoints general counsel

Scuttlebutt | May 1, 2017

Air Products, an industrial gases company, has appointed Sean Major as executive vice president and general counsel, effective May 1.

Grapevine Blog

Twist Bioscience appoints chief ethics and compliance officer

Scuttlebutt | May 1, 2017

Twist Bioscience, a company accelerating science and innovation through rapid, high-quality DNA synthesis, today announced the appointment of Mark Daniels to the newly created position of chief ethics and compliance officer.

Grapevine Blog

Kara Novaco Brockmeyer joins Debevoise

Scuttlebutt | May 1, 2017

Debevoise & Plimpton today announced that Kara Brockmeyer, former Chief of the SEC Enforcement Division’s Foreign Corrupt Practices Act Unit, is joining the firm’s Washington, D.C. office as a partner.

White Paper

The OCEG GRC Illustrated Series: Best Practices for Tracking Third Party Risk

Sponsored by OCEG | May 2, 2017

OCEG and Thomson Reuters have developed a new installment in OCEG's GRC Illustrated Series to outline the best practices your organization should have in place to ensure ongoing, integrated due diligence of your third party risks.

Grapevine Blog

Allied Irish Banks names new chief risk officer

Scuttlebutt | April 21, 2017

Allied Irish Banks has appointed Deirdre Hannigan as chief risk officer, effective April 24. Hannigan joins AIB from the National Treasury Management Agency, where she was chief risk officer.
Grapevine Blog

Falcon Group appoints chief risk officer

Scuttlebutt | April 21, 2017

Falcon Group, a Swiss private banking boutique, has appointed Bruno Meyer to the newly created role of chief risk officer and a member of the executive board, effective July 1.

Grapevine Blog

Federal Home Loan Bank San Francisco names chief risk officer

Scuttlebutt | April 21, 2017

The Federal Home Loan Bank of San Francisco has appointed Lisa Violet as senior vice president and chief risk officer.

White Paper

The Compliance Journey: Boosting the value of compliance in a changing regulatory climate

Sponsored by KPMG | April 24, 2017

To understand how organizations view the maturity of their compliance programs, KPMG surveyed CCOs from major organizations across seven industries. These Survey results can provide CCOs with vital information on areas of relative strength and areas for further enhancement.

Grapevine Blog

Morgan Stanley names new chief compliance officer

Scuttlebutt | April 18, 2017

Morgan Stanley's chief compliance officer Billy Fenrich is leaving the firm after just one year in the role. He will be replaced by Raul Yanes, a partner at law firm Davis Polk & Wardwell.