While Larry Thompson assembled his team for the Dieselgate monitorship, Volkswagen countered with appointments of its own, including Hiltrud Werner as head of integrity and legal affairs. Their relationship would determine the success of the monitorship going forward.
The Volkswagen Dieselgate scandal wasn’t the work of one executive who thought to install illicit software into diesel motor vehicles. It was born from a “chain of errors that was never broken,” forming the basis for one of the largest and most high-profile corporate compliance monitorships in history.
Volkswagen’s recently concluded three-year monitorship is chronicled in CW’s latest in-depth case study, which spares no detail in following the world’s largest automaker’s comeback from its biggest mistake.
A panel of DE&I experts shared valuable tips on how chief ethics and compliance officers can work collaboratively with human resources to address workplace culture issues at CW’s 2021 National Conference.
An expert panel at CW’s 2021 National Conference discussed the importance for companies to embrace behavioral analytics in their training programs to align with updates to the DOJ’s “Evaluation of Corporate Compliance Programs” guidance.
Mary McNiff shared initiatives she’s undertaken in her first year as chief compliance officer at Citi during her keynote at CW’s 2021 National Conference on Wednesday.
Emmanuel Lulin has a storied history in ethics and compliance shaped by his time hunting Nazis as a teenager. The recently retired chief ethics officer of L’Oréal was honored for Lifetime Achievement at CW’s 2021 Excellence in Compliance Awards.
Companies across the globe faced a true test of competency this past year. FedEx passed the challenge with flying colors under the oversight of Justin Ross, CW’s CCO of the Year at the 2021 Excellence in Compliance Awards.
Tenneco’s revamp of its core values, coupled with its dedication to employee engagement during the coronavirus pandemic, earned it the honor of Compliance Program of the Year at CW’s 2021 Excellence in Compliance Awards.
MoneyGram International stated in a regulatory filing it has fulfilled its obligations under a DPA it entered with the Department of Justice eight years ago, and its AML program was given a thumbs-up by its compliance monitor.
Editor in Chief Dave Lefort shares what he’s most looking forward to ahead of Compliance Week’s 16th annual National Conference from May 11-13.
The Office of Foreign Assets Control (OFAC) imposed $5.7 billion in penalties from 2006-2020. And every year, the U.S. Treasury Department casts a wider net of OFAC violations, ensnaring everyone from unwitting small businesses to sophisticated corporations.
The Securities and Exchange Commission recently reinforced its focus on the importance of corporate governance and financial reporting by special purpose acquisition companies (SPACs).
Aly McDevitt and Kyle Brasseur assess changes in compliance and risk management functions at Deutsche Bank and Credit Suisse in light of recent scandals at each bank.
Michaela Ahlberg created a compliance program from scratch when she was hired by Swedish telecom Telia following allegations of corruption in its foreign business dealings. She shared what she learned with the audience at CW’s Financial Crimes virtual event.
Protests calling for social justice over the last year have led to more companies appointing diversity, equity, and inclusion officers. The critical role the position plays alongside compliance cannot be overstated, writes Jaclyn Jaeger.
Learn what compliance leaders at some of the world’s most complex organizations are doing to build resilient compliance programs. You’d be correct if you guessed they’re implementing new processes and adding new technologies. But the biggest surprise has been around the role people play in this process.
Five European subsidiaries of Moody’s Corp. have been fined a total of €3.7 million (U.S. $4.4 million) by the European Securities and Markets Authority for violating conflict-of-interest rules.
Deutsche Bank announced a series of changes to its management board, including the upcoming departure of Chief Risk Officer Stuart Lewis and transition of compliance responsibilities to Chief Administrative Officer Stefan Simon.
The grounding of the Ever Given is the latest unexpected incident to cause severe supply chain disruptions around the world. The lessons learned from others, such as the coronavirus pandemic, are just as relevant, writes Aaron Nicodemus.
Evaluating potential going concern issues was a hot topic for companies and their auditors in 2020. With first-quarter 2021 reporting around the corner, Maria Murphy offers five key considerations to be thinking about.
Westpac is assessing a demerger from its New Zealand business after the Reserve Bank of New Zealand ordered the unit to commission two independent reports concerning the bank’s liquidity and risk governance processes.
It’s a clean sweep: All five CCOs we spoke with are in favor of U.S. federal data privacy legislation. Read on for the reasoning behind their answers.
Regulatory sandboxes launched by EU data protection authorities provide firms the opportunity to collaborate and make use of the regulator’s expertise to reduce GDPR compliance risks.
Five senior compliance practitioners tell us how their companies have reacted to recent privacy legislation like the GDPR, CCPA, and other state regulations in the pipeline.
Five senior compliance practitioners outline their strategies for protecting their firms from data breaches.
Five senior compliance practitioners tell Compliance Week how their organizations are reacting to new cyber-threats introduced by the pandemic.
Five senior compliance practitioners share insights on their roles in implementing and overseeing cyber-security policies and procedures.
LifePoint Health’s VP for Compliance Program Operations/Chief Privacy Officer Ellen Hunt and VP/CISO Andy Heins share how they work ”hand in glove” to protect their company’s data from bad actors.
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.
Should you consider outsourcing some of your firm’s compliance functions? Perhaps, even, all of them? The answer is complicated and requires a thorough analysis of the risks and rewards.
After a bad week for motivational leadership in the United Kingdom, experts expound on who should really set “tone from the top.”
The SEC has filed a civil action against Morningstar Credit Ratings alleging the former credit ratings agency violated disclosure and internal controls provisions of the federal securities laws in rating commercial mortgage-backed securities.
At the end of the sorry Wirecard saga, James Freis may be one of the very few former senior employees who can hold his head high, writes Martin Woods.
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.
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.
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.
With the global workplace in a fractious state in 2020, many companies transitioned employees to working from home. This created new challenges for compliance leaders from providing clear data security guidance to reinforcing HR policies like harassment prevention for the remote work environment.
The Federal Deposit Insurance Corporation has fined Apple Bank for Savings $12.5 million for violations of the Bank Secrecy Act related to anti-money laundering controls.
The more we learn about the SolarWinds hack, the more troubled compliance officers should be by the scope and breadth of the risks their companies might have incurred.
For many companies, SOC 2 Compliance can be an unexpected requirement to work with a big new client. This complex, time-consuming compliance effort is often much more costly than business leaders expect, and can easily lead to more hiring, delayed product launches, and slow business growth.
With the pandemic lingering and the coronavirus vaccine shipping in the United States, we are hopefully beginning to turn the corner on the pandemic.
Experts at CW’s virtual Cyber-Risk and Data Privacy Summit explain the importance for companies to review and enhance their current data security compliance policies and procedures.
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.
Embracing technology to help manage risk and improve efficiencies is a trend that’s been developing in the compliance space for a while, but the pandemic has fast-tracked the urgency behind it, according to a couple of recent surveys.
If HR drives diversity and inclusion strategies, the compliance function should play an important part in overseeing related changes in organizational behavior and practices.
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.
David Karas was named the first-ever chief compliance officer for Hitachi in October. He caught up with Compliance Week to discuss the impetus to elevate compliance at the multinational conglomerate and what he hopes to accomplish in his new position.
For most companies, supply chain risk management traditionally focuses on managing physical third-party risks. But what the SolarWinds cyber-attack revealed is the catastrophic havoc fourth and fifth parties can also wreak in the often-ignored cloud supply chain.
This year has been one most of us would like to forget. As we look toward 2021, nevertheless, it is worth considering lessons learned over the last 12 months and (where possible) drawing on any positives that have come to light regarding the financial crime landscape.