CCOs, take note: ESG is having its moment
The Biden administration is not so quietly making big moves in the area of ESG regulatory initiatives that should give CCOs the cachet to elevate these issues closer to the top of the priority list at their organizations.
CW panel: Preparing for the return to the workplace—and the next pandemic
Experts at CW’s “Compliance Considerations for the New Workplace” virtual summit discuss striking the balance between complying with laws applicable to matters of health and safety while still respecting employee privacy in the return to the office and beyond.
Legal precedent for COVID-19 vaccine mandates on shaky ground, expert says
Mandating COVID-19 vaccines for your workplace might not be as straightforward as following the legal precedent set by flu vaccines, an expert explained at CW’s “Compliance Considerations for the New Workplace” virtual summit.
Best practices for navigating political discussions among coworkers
It’s not realistic to outright ban talk of politics with coworkers, but in today’s polarized climate it’s smart to set policies and educate employees about lines that should not be crossed.
Northern Ireland turns up heat on modern slavery transparency
Northern Ireland Justice Minister Naomi Long has launched two consultation documents on measures to eradicate modern slavery from the supply chains of public- and commercial-sector organizations.
Are CEOs really the best people to set the compliance example?
After a bad week for motivational leadership in the United Kingdom, experts expound on who should really set “tone from the top.”
Murphy Oil, Marathon Oil ESG incentives a positive step for oil industry
The willingness of Murphy Oil and Marathon Oil to adjust their executive compensation frameworks, in part, to better align with their environmental targets is a rarity in the oil and gas industry and deserving of credit, writes Jaclyn Jaeger.
National Holdings nears settlement with former chief compliance officer
National Holdings has reached a proposed settlement in a lawsuit filed by a former chief compliance officer who alleged she was fired for investigating insider trading by the brokerage firm’s executives, although the firm denies the allegations.
‘The Empathetic Workplace’ can help you navigate hard conversations
Aly McDevitt reviews “The Empathetic Workplace” by Katharine Manning, a practical guide that offers an eye-opening look into how employers should use empathy and soft skills to respond to employees in crisis.
KPMG UK chair resigns over controversial pandemic remarks
KPMG UK Chairman Bill Michael has resigned after controversial remarks he made about the coronavirus pandemic during a virtual town hall meeting offended several employees and were subsequently made public.
Former FBI Director James Comey to speak at two upcoming CW events
Compliance Week is pleased to announce James Comey will be joining two key virtual events this year—“Financial Crimes: Risks, Trends, and Proven Practices” from March 30-31 and “Compliance Week 2021” from May 11-13.
Video: Wirecard’s failings back in spotlight
Jaclyn Jaeger lauds two oil companies for raising the bar on ESG commitment in the industry, while Dave Lefort assesses new developments in the Wirecard saga that point to greater failures in the firm’s internal controls.
Companies not reporting ESG initiatives are in the minority
Several reports highlight the growing trend of companies recognizing the value of aligning their business models with ESG concerns, acceding to the demands of shareholders, activists, the market, and the public.
Q&A: Global Widget CCO says CBD industry at regulatory ‘tipping point’
Global Widget Chief Compliance and Legal Officer Margaret Richardson talks with Compliance Week about how the company’s focus on federal and state compliance lends to leading the way in the currently unregulated cannabidiol industry.
Survey: Pandemic pervades executives’ top 10 risks for 2021
The aftermath of the coronavirus pandemic dominates the top risks that will keep boards of directors and executive management teams on their toes in 2021, a new survey by Protiviti and NC State’s ERM Initiative finds.
Video: What took Facebook so long to name a CCO?
Aly McDevitt gives props to Abercrombie & Fitch and its chief ethics and compliance officer for providing an example of marrying values to work, while Dave Lefort wonders aloud why Facebook is just now naming its first-ever CCO.
Europe handcuffed by current corporate liability laws; is change coming?
European countries have begun to question whether their laws around corporate liability need to be reformed. However, change may not be as rapid as first thought.
Incoming IIA chief Anthony Pugliese to prioritize technology, D&I
Compliance Week caught up with Anthony Pugliese, the incoming president and chief executive officer of the Institute of Internal Auditors, to discuss his plans for the future of the IIA and the internal audit profession at large.
Facebook names Henry Moniz as first-ever chief compliance officer
Facebook has hired Henry Moniz, executive vice president and chief compliance officer at ViacomCBS, to be the social media giant’s first-ever CCO.
My Compliance Library: ‘Can You Hear Me?’ a guide for virtual connections
You might not have thought you needed it, but Nick Morgan’s “Can You Hear Me?” provides some valuable advice for getting the most out of your daily virtual meetings and conversations.
White paper: Advancing diversity and inclusion in the compliance world
Four in 10 compliance professionals have experienced discrimination in the workplace at some point during their career, according to a recent survey by the International Compliance Association.
Psychology of compliance: Counteracting bias in technology
Counteracting bias is part of the compliance officer job description, and now more than ever is it important for that duty to extend to new business technologies being implemented.
Toyota to pay $180M for shirking emissions-reporting requirements
Toyota settled a lawsuit with the Department of Justice and Environmental Protection Agency for $180 million—the largest civil penalty ever for violations of the EPA’s emission-reporting requirements under the Clean Air Act.
EPA’s toxic love affair with high-polluting industries needs to end
A last-minute rule change by the EPA tucked into the Federal Register without a public comment period is the culmination of a years-long chumminess with high-polluting industries that can’t end soon enough, writes Jaclyn Jaeger.
The roles of HR and compliance in driving diversity & inclusion
If HR drives diversity and inclusion strategies, the compliance function should play an important part in overseeing related changes in organizational behavior and practices.
Companies don’t get credit for bailing on Trump in Capitol attack aftermath
It’s shameful that it took searing images of rioters looting the Capitol building for some corporations to act on the danger President Donald Trump has posed to the country all along, writes Aaron Nicodemus.
German laptop retailer fined $12.7M under GDPR for employee surveillance
A German data regulator fined an online laptop and electronic goods retailer €10.4 million (U.S. $12.7 million) for video-monitoring employees for at least two years without legal basis.
‘Excellence in Compliance Awards’ nomination deadline closed
The nomination deadline has closed for Compliance Week’s second annual “Excellence in Compliance Awards,” which for 2021 includes a new category to honor companies whose ethics and compliance programs are head and shoulders above the rest.
Compliance implications of Boeing $2.5B fraud settlement
Boeing has agreed to pay over $2.5 billion as part of a three-year deferred prosecution agreement entered into with the Justice Department to resolve a criminal charge related to the company’s 737 MAX scandal.
Video: Apple ties exec bonuses to ESG; Twitter complicit in D.C. riot
In our first Nailed It or Failed It of 2021, Aly McDevitt praises Apple’s decision to link executive bonuses to the company’s values, while Dave Lefort delivers a somber message on Twitter and social media’s role in the riot at the U.S. Capitol.
Compensation or compromise? The risks of compliance bonuses
Financial crime expert Martin Woods assesses whether incentivizing compliance officers with bonuses may undermine the importance of performing the job with integrity and credibility.
Ticketmaster fined $10M for unauthorized access of rival’s systems
Ticketmaster agreed to a $10 million criminal fine as part of a deferred prosecution agreement to resolve charges that it repeatedly accessed the computer systems of a competitor without authorization to illegally gather business intelligence.
Poll: More companies linking ESG initiatives to executive incentive plans
Current events have significantly accelerated the need for companies around the world to link ESG initiatives to their executive incentive plans, according to a recent poll conducted by Willis Towers Watson.
Barclays fined $34.8M over treatment of cash-strapped customers
The U.K. Financial Conduct Authority fined Barclays Bank and its related units £26 million (U.S. $34.8 million) for poor treatment of consumer credit customers experiencing financial hardship.
Survey: Remote work poses different challenges for men and women
A CW survey finds male and female compliance practitioners are processing the pressure points of the pandemic differently, and that fully remote work is leading to a permanently changed future for post-pandemic work schedules.
Women in compliance: Be unapologetic about moving up … but send the elevator back down
Over the course of reading two books, Julie DiMauro got some important tips and reminders about taking risks, creating success, and being cognizant of those women following in our career footsteps.
Survey: Remote compliance practitioners feel supported, but for how long?
A recent survey of 180 compliance, risk, and audit professionals asked the question: “What’s your back-to-office plan, and does it work for you?” The short answer was there is no plan, and the status quo is faring better for the company than the employee.
How will Biden administration impact compliance
Six senior compliance practitioners reflect on how they anticipate the Joe Biden presidency, and the expected regulatory changes coming with it, will impact the compliance function.
Ten things I’d like to see happen in 2021 (2020 in review)
Many of the things I’d like to see in 2021 are directly related to regulatory changes we anticipate are coming under a Biden administration, but they’re mixed with a few lessons from the pandemic we hope carry into a post-COVID world.
Ask a CCO: Compliance leaders share pandemic lessons learned
Six senior compliance practitioners divulge how they fared in 2020, from wrestling with new risks amid the pandemic to the most valuable lessons learned during a year rife with crisis.
Top ethics and compliance failures of 2020
From a massive accounting fraud scandal in Germany to deceitful consumer tactics among China-based companies to unethical practices on the environmental front in the United States—CW’s list of the top ethics and compliance failures of 2020 spans the globe.
Zoom & me: Silver linings of 2020
Turning the lens on Zoom reveals one possible highlight of 2020: a standout company that helped corporate America transition to remote work.
Five compliance triumphs from 2020
CW reveals its list of five compliance wins from the year, including Samsung for its honesty, Volkswagen for successfully wrapping up its monitorship, 3M for stellar ethics, and more.
Biden’s SEC set to require disclosure of ESG, climate change risk
The SEC under President-elect Joe Biden will push ESG and climate change-related risk alerts, guidance, and rulemaking that will likely require companies to disclose how these risks affect their bottom line.
Fight against corruption must go on, even if the point is undermined
The recent decision by the Department of Justice to release from custody a dangerous Mexican general must not discourage the greater efforts of the anti-corruption community, writes Martin Woods.
Nasdaq to SEC: Adopt listing rules requiring board diversity disclosures
Nasdaq has filed a proposal with the Securities and Exchange Commission to adopt new listing rules that would impose board diversity disclosure requirements.
KPMG report: World’s largest companies slow to address climate change risks
The world’s 250 largest companies are not doing very well in recognizing and measuring financial risks related to climate change, so we’ve got some advice to those who are behind the curve.
How the pandemic and social justice matters have changed the GC role
General counsel have taken on significantly more responsibility since the start of the coronavirus pandemic and amid the current social climate, solidifying their role as a critical business partner, a recent study on corporate legal departments found.
Crackdown on culture part of widespread regulatory push
A recent ruling by the U.K. Financial Conduct Authority to ban three individuals from the financial services industry for out-of-work misconduct is part of a broader push by regulators to crack down on matters related to culture, writes Martin Woods.
ISS 2021 proxy voting updates address racial, ethnic, gender diversity
Proxy advisory firm Institutional Shareholder Services released updates to its 2021 benchmark proxy voting policy, with the biggest changes this year addressing racial, ethnic, and gender diversity on boards.