Ethics & Culture


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AI and government: How Trump or Harris presidency will differ on policy, regulation

2024-09-25T13:21:00+01:00By

AI may be one of the hottest things in the business world but former President Donald Trump and Vice President Kamala Harris haven’t devoted much time to discussing the technology. Still, each candidate has offered a few clues as to how they would govern over this next wave of innovation.

Deloitte

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Deloitte survey: AI adoption raising concerns about trust, reputational damage, ethics

2024-09-24T13:10:00+01:00By

As the artificial intelligence boom sweeps into the business world, employees are increasingly concerned about ethics questions and data privacy, a new Deloitte survey found, leading them to increasingly lose trust in their organizations.

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‘Tick-box’ training leads to tragic outcome in Costa Coffee allergen case

2024-09-17T16:16:00+01:00By

Company training has always been equal parts important and annoying. But a recent inquest found some eLearning courses fail to warn companies when employees struggle through education and testing. For 13-year-old Hannah Jacobs, the consequences ended with her death.

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An Amsterdam discussion on increased role of CCOs

2024-09-13T12:40:00+01:00By

Compliance Week and its sister organization the International Compliance Association will bring together more than 200 GRC professionals for Compliance Week Europe Oct. 15-16 in Amsterdam to discuss how they’re making sense of the constantly changing regulatory landscape.

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Norfolk Southern fires CEO, CLO for affair that violated company policies

2024-09-12T16:10:00+01:00By

Norfolk Southern Corp., the railroad still cleaning up the environmental and financial damages caused when one of its trains derailed in a small Ohio town, has fired its top executive and chief legal officer after concluding they had an affair that violated company policies.

Whistleblower

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U.K. whistleblower protections, awards needed to compensate ‘career suicide’

2024-08-23T15:47:00+01:00By

Discrimination against whistleblowers in the U.K. has risen to such a level that the government may need to actively pursue plans to afford greater legal protection, as well as introduce financial awards to compensate for their “career suicide.”

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How are you keeping up? The adoption of AI in compliance

2024-08-22T15:15:00+01:00By

Artificial intelligence is rapidly transforming the business landscape, and this is especially true for anyone working in compliance. But while AI offers immense potential to streamline processes, enhance decision-making, and mitigate risks, it also introduces a new set of challenges that compliance professionals must navigate.

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Webcast

CPE Webcast: UK Worker Protection Act: Safeguarding rights and responsibilities

2024-08-22T11:00:00+01:00Provided by

This webinar will deep dive into the UK Worker Protection Act, ensuring you know the key facts and advise you on the next steps.

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Q&A: APCC chair on culture challenges facing financial services firms

2024-08-21T15:29:00+01:00By

Julie Ampadu, chair of the U.K.’s Association of Professional Compliance Consultants, spoke to Compliance Week about why culture is the biggest issue facing financial services firms.

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Many dating apps a matchmaker for cybercriminals, study finds

2024-08-05T18:05:00+01:00By

Location-based dating apps are not doing enough to protect user privacy, with exact location and other personal data being exploited by stalkers and bad actors, a recent analysis found.

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SFO staffing shortages improve under new leadership

2024-08-01T15:35:00+01:00By

Staffing shortages that have plagued the U.K. Serious Fraud Office are trending in the right direction since its new director took charge, with the anti-bribery agency forging ahead with initiatives to ensure its future sustainability.

RisksAhead

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Risk visibility striking fear in companies onboarding new customers

2024-07-24T17:54:00+01:00By

A lack of risk visibility is causing companies to reject customers–and potentially lose money–over fears they might be in danger of violating rules around anti-money laundering and sanctions regulations.

Diversity

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Survey tackles aligning cross-generational views of ethics in the workplace

2024-07-22T16:04:00+01:00By

Companies may need to examine employees by age group to find out how likely some workers might be to ditch compliance to complete tasks.

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Lessons from PwC’s failure to squelch dissent in the ranks with ‘silent layoffs’

2024-07-12T10:49:00+01:00By

It’s been a trying time for staff at firms with redundancies, affecting morale as layoffs mount amid an effort to silence dissent in the ranks for those departing.

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New U.K. codes strive to restore falling trust, integrity

2024-07-09T19:08:00+01:00By

Codes of ethics and conduct are becoming ubiquitous, yet instilling high standards of corporate integrity still seems an elusive goal. Why is corporate culture such a challenge?

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How fintechs can overcome major compliance hurdles in embedded finance

2024-07-01T15:45:00+01:00By Margaret Holmes Tibbets, CW guest columnist

Margaret Holmes Tibbets, chief compliance officer at financial technology company Pipe, explains how firms are facing an existential compliance crisis, and to survive they’ll need to overcome not one but two hurdles.

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Women in Compliance highlights: Mentorship driving DEI; fostering board buy-in

2024-06-27T13:39:00+01:00By

Keeping track of regulations and understanding how they affect your business can be a hot mess without proper organization and collaboration, experts said at Compliance Week’s Women in Compliance Summit, held June 3-4, in Atlanta.

Whistle

News Brief

CFTC awards whistleblower $8M despite involvement in misconduct

2024-06-20T15:37:00+01:00By

A whistleblower received an $8 million award from the Commodity Futures Trading Commission for uncovering fraud—even though the agency deemed the whistleblower was culpable in the misconduct.

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‘We have to stop shrinking ourselves’: Strategies for confronting BIPOC bias

2024-06-14T12:08:00+01:00By

Attendees at Compliance Week’s Women in Compliance Summit discussed strategies for confronting bias against Black, indigenous, and people of color professional women working in compliance and risk.

Christy Goldsmith Romero

News Brief

​Biden nominates CFTC’s Goldsmith Romero to head FDIC

2024-06-13T19:12:00+01:00By

President Joe Biden selected a commissioner at the Commodity Futures Trading Commission as his preferred choice to lead the Federal Deposit Insurance Corporation in the aftermath of its toxic workplace culture scandal.

Financial Crimes 2024 Pham

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CFTC’s Pham critical of agency stances on CCO liability, self-disclosure credit

2024-06-12T21:18:00+01:00By

Caroline Pham, a commissioner at the Commodity Futures Trading Commission, said compliance officers have a lot to worry about if they or their firms are subject to CFTC enforcement during her fireside chat at CW’s Financial Crimes Summit.

Whistle question

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What to watch for as DOJ whistleblower program sprint ends

2024-06-05T19:14:00+01:00By

The Department of Justice’s 90-day sprint to developing and implementing a pilot whistleblower rewards program ended Wednesday, and many questions remain about what the program will entail.

Ericsson

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Ericsson completes DOJ-imposed compliance monitorship

2024-06-03T18:48:00+01:00By

Swedish telecommunications giant Ericsson announced the conclusion of the independent compliance monitorship imposed on the company following its 2019 settlement for violations of the Foreign Corrupt Practices Act.

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SEC’s Grewal shares views on ‘Five Principles of Effective Cooperation’

2024-05-30T16:13:00+01:00By

Gurbir Grewal, director of the Enforcement Division at the Securities and Exchange Commission, spelled out plainly his view on the best path to earning cooperation credit during settlement negotiations with the agency.

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News Brief

Lessons from Arthur Grand ‘whites only’ case

2024-05-29T20:06:00+01:00By

IT company Arthur Grand Technologies’ settlements with the Department of Justice and Department of Labor regarding a discriminatory “whites only” job posting offer key takeaways regarding company liability and reputation risks.

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Event

Revamped compliance processes key Albemarle win as Compliance Program of the Year

2024-05-29T18:30:00+01:00By

For successfully navigating thorny compliance issues related to self-disclosed violations of the Foreign Corrupt Practices Act, Albemarle was named Compliance Program of the Year at the 2024 Excellence in Compliance Awards.

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Event

Gina Nese stays ahead of the curve as CCO of the Year

2024-05-29T00:45:00+01:00By

Gina Nese, head of compliance and privacy at Align Technology, jumps at the chance to share new ideas and ways to innovate, including regarding emerging technologies like AI. Her work earned her recognition as CCO of the Year at the 2024 Excellence in Compliance Awards.

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Event

Lifetime Achievement: Compliance lessons from a ‘Flea’

2024-05-28T16:00:00+01:00By

Felecia “Flea” Bowers, honored for Lifetime Achievement at the 2024 Excellence in Compliance Awards, shares advice for compliance professionals at every stage of their careers.

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Event

Q&A: Rising Star in Compliance Giovanni Corrado

2024-05-28T16:00:00+01:00By

Giovanni Corrado, deputy chief compliance officer at BBVA Global Wealth Advisors, shares with Compliance Week his personal goal to change the narrative around compliance and his interests at the intersection of regulation and technology.

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Event

Q&A: Compliance Mentor of the Year Melanie Sponholz

2024-05-28T16:00:00+01:00By

Melanie Sponholz, chief compliance officer and director of responsible investing, portfolio operations at Waud Capital Partners, discusses with Compliance Week her mentoring philosophy, the ways she connects with other professionals, and the importance of influence to the compliance function.

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Event

Creative engagement approach drives Compliance Innovators Johnson, Sudo

2024-05-28T16:00:00+01:00By

Through clever rhymes and real-life examples, Sharon Johnson and Heather Sudo of MODE Global have made it their mission to think outside the box when it comes to compliance awareness. Their approach earned them Compliance Innovator(s) of the Year at the 2024 Excellence in Compliance Awards.

Whistleblower vector

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​Debate: Experts discuss pros, cons of whistleblower process

2024-05-23T15:35:00+01:00By

Compliance Week Advisory Board members Eric Young and Ellen Hunt participate in a debate-style discussion regarding whistleblower-related topics including culture of compliance, monetary incentives, retaliation, and more.

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Opinion

​Book review: How compliance can help build organizational trust at speed

2024-05-22T16:29:00+01:00By

Anne Morriss, co-author of “Move Fast and Fix Things,” advises compliance officers to tap into curiosity, communicativeness, and comfort with discomfort to build organizational trust, fast.

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News Brief

FDIC chair to resign following report on toxic workplace culture

2024-05-21T18:04:00+01:00By

Martin Gruenberg announced he will step down as chairman of the Federal Deposit Insurance Corporation following the release of an independent review that criticized the agency’s lack of response to employee claims of sexual harassment and discrimination.

Volkswagen

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Senate report cites VW, BMW, JLR for potential forced labor violations

2024-05-20T19:16:00+01:00By

A U.S. Senate report found three European automakers—Volkswagen, BMW, and Jaguar Land Rover—sold cars in the United States with parts sourced from a supplier suspected of using forced labor from China’s Xinjiang region.

Colorado capitol

News Brief

Colorado passes landmark AI discrimination law

2024-05-20T19:02:00+01:00By

Colorado passed the nation’s first comprehensive artificial intelligence protection law, aimed at curbing discrimination against the public that could result from the technology’s use while still allowing AI entrepreneurship to flourish.

White House

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White House unveils AI workplace principles; Senate group roadmaps AI policy

2024-05-16T20:29:00+01:00By

Microsoft and Indeed stepped up to adopt new artificial intelligence principles put forth by President Joe Biden, while leading senators took a step toward crafting AI legislation.

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Opinion

FDIC culture scandal begs question: Why don’t regs have CCOs?

2024-05-16T13:43:00+01:00By

Regulators and government agencies often speak to the value of empowered corporate compliance programs to advancing their mission. Why not practice what they preach by empowering compliance among their own ranks?

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Opinion

Binance CEO got 4 months in prison. FTX’s got 25 years. Was compliance the difference?

2024-05-15T20:00:00+01:00By

Why the wild disparity in the sentences of Binance’s Changpeng Zhao and FTX’s Sam Bankman-Fried? Aaron Nicodemus argues the performance of the compliance teams at the two cryptocurrency exchanges was as big a contrast as the penalties earned by their respective founders.

Lease accounting

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SEC chief accountant calls out audit leadership culture

2024-05-15T18:52:00+01:00By

Staff at the Securities and Exchange Commission have observed instances of audit firms setting poor examples for junior-level employees by failing to properly discipline senior leaders found to have breached ethical standards, according to Chief Accountant Paul Munter.

Boeing 737

News Brief

DOJ notifies Boeing of DPA breach related to 737 MAX safety

2024-05-15T17:43:00+01:00By

The Department of Justice notified aerospace giant Boeing it breached its 2021 deferred prosecution agreement that required compliance commitments following high-profile crashes of its 737 MAX airplane.

Lawsuit

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Lawsuit: Ex-Panoramic Health assistant GC alleges retaliation linked to CCO supervisor

2024-05-13T19:03:00+01:00By

The former assistant general counsel at Panoramic Health is suing her former employer alleging wrongful termination after flagging safe harbor violations of the Anti-Kickback Statue.

SEC building

News Brief

SEC faults former IA Gainvest for nontailored compliance manual

2024-05-08T16:57:00+01:00By

A Securities and Exchange Commission action against former registered investment adviser Gainvest Legal Corp. yielded a notable takeaway for others in the industry engaging consultants for compliance program support.

Working with AI

Podcast

Podcast: Responsible development and implementation of AI

2024-05-08T13:06:00+01:00By

Three experts join the Compliance Week podcast to discuss opportunities and risks posed by artificial intelligence, as well as governance frameworks your organization can implement to ensure AI tools are utilized safely and ethically.

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Event

Virtual Roundtable: Whistleblowing in 2024: What compliance officers need to know

2024-05-08T12:00:00+01:00By

Compliance Week is hosting a virtual roundtable in which we’ll explore the modern whistleblower landscape and what corporate compliance programs need to know to follow the rules while enabling a speak-up culture.

Microsoft store

News Brief

Microsoft report describes its artificial intelligence safety efforts

2024-05-06T20:23:00+01:00By

Microsoft published a public report covering its artificial intelligence endeavors and steps it is taking to make the controversial technology safe.

Accounting fraud

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‘Sham audit mill’: SEC fines, permanently suspends BF Borgers

2024-05-03T14:27:00+01:00By

BF Borgers was all but shuttered by the Securities and Exchange Commission after the agency accused the firm of massive fraud impacting more than 1,500 SEC filings audited over a 2 1/2-year span.

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Resource

e-Book: Managing increased risk of forced, child labor in your supply chain

2024-05-01T19:53:00+01:00Provided by

Instances of forced or child labor in corporate supply chains are a growing problem in the United States.

Business liability

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CCO liability: How to protect your compliance career

2024-05-01T14:00:00+01:00By

Despite significant issues outside the control of most chief compliance officers, some regulators have signaled more individual liability cases are to be expected. Will accepting the wrong job, in hindsight, make it your last?

Lloyds

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Lloyds decision to cut risk staff draws criticism, defenders

2024-04-30T17:25:00+01:00By

Lloyds Banking Group is cutting jobs in its risk management function after an internal review reportedly found it was a “blocker” to the organization’s strategic transformation.