Ethics & Culture


David Lefort

CCOs, take note: ESG is having its moment

2021-03-01T18:22:00+00:00By

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.

New workplace screenshot

CW panel: Preparing for the return to the workplace—and the next pandemic

2021-02-25T17:06:00+00:00By

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.

Dorit Rubinstein Reiss

Legal precedent for COVID-19 vaccine mandates on shaky ground, expert says

2021-02-24T21:08:00+00:00By

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.

askamii

Best practices for navigating political discussions among coworkers

2021-02-23T15:32:00+00:00By

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

Northern Ireland turns up heat on modern slavery transparency

2021-02-19T20:18:00+00:00By

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.

Boss

Are CEOs really the best people to set the compliance example?

2021-02-18T16:14:00+00:00By

After a bad week for motivational leadership in the United Kingdom, experts expound on who should really set “tone from the top.”

columnist icons

Murphy Oil, Marathon Oil ESG incentives a positive step for oil industry

2021-02-16T20:44:00+00:00By

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.

Gavel

National Holdings nears settlement with former chief compliance officer

2021-02-16T18:46:00+00:00By

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.

columnist_aly

‘The Empathetic Workplace’ can help you navigate hard conversations

2021-02-16T15:12:00+00:00By

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 building

KPMG UK chair resigns over controversial pandemic remarks

2021-02-12T19:40:00+00:00By

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.

James Comey

Former FBI Director James Comey to speak at two upcoming CW events

2021-02-12T18:53:00+00:00By

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.

Nailedit1200x800

Video: Wirecard’s failings back in spotlight

2021-02-11T21:40:00+00:00By Compliance Week

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.

ESG

Companies not reporting ESG initiatives are in the minority

2021-02-10T21:50:00+00:00By

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.

Margaret Richardson

Q&A: Global Widget CCO says CBD industry at regulatory ‘tipping point’

2021-02-09T20:47:00+00:00By

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.

2021

Survey: Pandemic pervades executives’ top 10 risks for 2021

2021-02-05T17:39:00+00:00By

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.

Nailedit1200x800

Video: What took Facebook so long to name a CCO?

2021-02-04T21:41:00+00:00By Compliance Week

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.

AdobeStock_189177351

Europe handcuffed by current corporate liability laws; is change coming?

2021-02-04T17:21:00+00:00By

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.

Anthony Pugilese

Incoming IIA chief Anthony Pugliese to prioritize technology, D&I

2021-02-01T14:00:00+00:00By

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.

Henry Moniz

Facebook names Henry Moniz as first-ever chief compliance officer

2021-01-29T21:26:00+00:00By

Facebook has hired Henry Moniz, executive vice president and chief compliance officer at ViacomCBS, to be the social media giant’s first-ever CCO.

Columnist_Bistrong

My Compliance Library: ‘Can You Hear Me?’ a guide for virtual connections

2021-01-27T18:40:00+00:00By

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.

ICADiversity

White paper: Advancing diversity and inclusion in the compliance world

2021-01-22T15:22:00+00:00By

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.

AImaze

Psychology of compliance: Counteracting bias in technology

2021-01-20T18:02:00+00:00By Paul Eccleson, International Compliance Association

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

Toyota to pay $180M for shirking emissions-reporting requirements

2021-01-15T17:47:00+00:00By

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.

columnist icons

EPA’s toxic love affair with high-polluting industries needs to end

2021-01-13T21:33:00+00:00By

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.

AdobeStock_314226034

The roles of HR and compliance in driving diversity & inclusion

2021-01-11T21:54:00+00:00By Deborah O’Connor, International Compliance Association

If HR drives diversity and inclusion strategies, the compliance function should play an important part in overseeing related changes in organizational behavior and practices.

columnist_nicodemus

Companies don’t get credit for bailing on Trump in Capitol attack aftermath

2021-01-11T21:26:00+00:00By

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.

Employee monitoring

German laptop retailer fined $12.7M under GDPR for employee surveillance

2021-01-11T19:08:00+00:00By

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.

EIC cover img

‘Excellence in Compliance Awards’ nomination deadline closed

2021-01-11T15:29:00+00:00By

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.

Boeing 737

Compliance implications of Boeing $2.5B fraud settlement

2021-01-08T18:08:00+00:00By

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.

Nailedit1200x800

Video: Apple ties exec bonuses to ESG; Twitter complicit in D.C. riot

2021-01-07T22:33:00+00:00By Compliance Week

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.

woods

Compensation or compromise? The risks of compliance bonuses

2021-01-06T22:03:00+00:00By

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

Ticketmaster fined $10M for unauthorized access of rival’s systems

2021-01-04T20:58:00+00:00By

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.

ESGReporting

Poll: More companies linking ESG initiatives to executive incentive plans

2020-12-17T17:02:00+00:00By

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

Barclays fined $34.8M over treatment of cash-strapped customers

2020-12-16T20:30:00+00:00By

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.

back-to-office-2020-q8

Survey: Remote work poses different challenges for men and women

2020-12-16T16:49:00+00:00By

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.

columnist_dimauro

Women in compliance: Be unapologetic about moving up … but send the elevator back down

2020-12-16T16:36:00+00:00By

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.

Coronavirus office

Survey: Remote compliance practitioners feel supported, but for how long?

2020-12-15T20:08:00+00:00By

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.

Joe Biden

How will Biden administration impact compliance

2020-12-09T14:38:00+00:00By Compliance Week

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.

2021

Ten things I’d like to see happen in 2021 (2020 in review)

2020-12-09T14:20:00+00:00By

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

Ask a CCO: Compliance leaders share pandemic lessons learned

2020-12-08T13:45:00+00:00By Compliance Week

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.

Compliance fails

Top ethics and compliance failures of 2020

2020-12-08T13:30:00+00:00By

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.

columnist_aly

Zoom & me: Silver linings of 2020

2020-12-07T13:42:00+00:00By

Turning the lens on Zoom reveals one possible highlight of 2020: a standout company that helped corporate America transition to remote work.

VWcrop

Five compliance triumphs from 2020

2020-12-07T13:11:00+00:00By

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.

Joe Biden

Biden’s SEC set to require disclosure of ESG, climate change risk

2020-12-03T21:12:00+00:00By

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.

woods

Fight against corruption must go on, even if the point is undermined

2020-12-02T17:33:00+00:00By

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.

Board

Nasdaq to SEC: Adopt listing rules requiring board diversity disclosures

2020-12-01T18:19:00+00:00By

Nasdaq has filed a proposal with the Securities and Exchange Commission to adopt new listing rules that would impose board diversity disclosure requirements.

Climate

KPMG report: World’s largest companies slow to address climate change risks

2020-11-24T17:21:00+00:00By

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.

Lawyer

How the pandemic and social justice matters have changed the GC role

2020-11-20T20:13:00+00:00By

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.

woods

Crackdown on culture part of widespread regulatory push

2020-11-20T19:53:00+00:00By

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.

Boardroom

ISS 2021 proxy voting updates address racial, ethnic, gender diversity

2020-11-16T18:27:00+00:00By

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.