Now trending under #compliance, TriplePundit looks at how Alcatel-Lucent migrated from a rules–based culture to an “action-oriented” one to make all employees accountable for their actions.
Next, the SEC moves in on CCOs for lapses in cybersecurity. CCOs that fail to conduct reviews and address compliance issues including data privacy will face enforcement actions.
Goldman Sachs terminated 20 junior bankers for cheating on routine compliance tests in its London and New York offices. According to Reuters, the industry’s zero tolerance for this type of behavior will make it difficult for these junior analysts to find job since this will likely become part of their permanent record.
Under the corporate governance (#corpgov) hashtag, Grant Thorton released its first 2015 cross sector review of audit committee effectiveness, which analyzes the current status of audit committees, how they should be organized, skills and qualities of members and benchmarking.
Also, embattled German automaker, Volkswagen continues to dominate the headlines, this time a closer look at the company’s culture and integrity.
Kweku Adoboli, dubbed as the biggest rogue trader in British history was convicted in 2012 for costing UBS $2.3 billion. After serving his time in prison and now facing deportation, Adoboli told the Financial Times about the lessons he learned and his compliance message to traders.