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- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Aaron Nicodemus2023-05-03T17:27:00
A new KPMG survey of chief compliance officers at Fortune 500 companies found nearly three out of every four expect to enhance their compliance functions in response to pressure from regulators and their own boards.
The survey, released Wednesday, found 73 percent of 240 CCOs who responded said their firm’s compliance function faced increasing pressure from regulators, while 45 percent reported the regulatory pressure was industry specific. Survey respondents represented firms in six industries: healthcare/life sciences; financial services; technology, media, and telecommunications; manufacturing; commercial markets/retail; and energy/natural resources.
More than half (53 percent) of the survey respondents said their firm’s board was the top source of pressure to enhance the compliance function. For compliance teams in healthcare/life sciences, manufacturing, commercial markets/retail, and energy/natural resources, the board was the top pressure source; for financial services and telecommunications, the top pressure source was regulators.
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News and analysis for the well-informed compliance or audit exec.
Annual Membership best value
Subscribe now for $365
Our lowest price ($1 per day) for one year.
Register for free
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2023-06-07T19:54:00Z By Aaron Nicodemus
A new report by KPMG on key regulatory challenges for the second half of 2023 warned financial institutions to prepare for increased scrutiny, while all companies should expect more questions on how they oversee their cybersecurity and data management programs.
2023-06-02T17:46:00Z By Jeff Dale
Organizations must move beyond abstract theory and truly measure their compliance culture, a panel of experts discussed during Compliance Week’s 2023 National Conference.
2023-05-17T19:30:00Z By Aaron Nicodemus
One of the ways the Department of Justice will assess a firm’s compliance program is by judging how accessible and visible a company’s data is to its compliance function, an agency official told attendees at Compliance Week’s 2023 National Conference.
2024-07-25T18:15:00Z By Aaron Nicodemus
A new compensation survey found base pay for chief compliance officers has risen 36 percent since 2021 to an average of more than $403,000.
2024-07-22T16:04:00Z By Neil Hodge
Companies may need to examine employees by age group to find out how likely some workers might be to ditch compliance to complete tasks.
2024-07-18T14:27:00Z By Adrianne Appel
Nearly three-quarters of compliance professionals at investment firms have made testing for off-channel and electronic communications surveillance a top priority in mock exams, according to a new poll, with more than half calling it the “hottest” topic of discussion.
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