Opinion


Whistle - dark

‘Witness to Wrongdoing’ shines crucial light on understanding whistleblowers

2021-07-21T13:00:00+01:00By

An upcoming CW series chronicles the timeline of a whistleblower—from identifying wrongdoing to reporting and enduring subsequent hardships. Exclusive interviews impart key lessons for compliance officers seeking to become an ally to these individuals.

McDevitt_opinion

‘The Compliance Entrepreneur’s Handbook’ dispels false paradox

2021-07-20T12:03:00+01:00By

A new book proves compliance practitioners can take risks and get paid dividends, and the authors are willing to show you how.

Hodge_opinion

FCA pledge to be more assertive rings hollow amid enforcement drops

2021-07-19T16:22:00+01:00By

A steady decrease in enforcement activity makes it easy to question whether the U.K. Financial Conduct Authority is in position to become the “more innovative, assertive, and adaptive regulator” it pledges to be.

Brasseur_opinion

New-look FTC to test compliance with aggressive approach?

2021-07-12T13:21:00+01:00By

The Federal Trade Commission under new Chair Lina Khan is wasting no time in restoring its power to reshape rulemaking and enforcement, but doing so without proper time for public input is an early cause for concern.

Brasseur_opinion

Distinction between CCO and company key to any liability framework

2021-06-22T13:44:00+01:00By

Despite best effort, a chief compliance officer has a lot to lose when his or her company faces enforcement. Acknowledging this as part of any potential CCO liability framework will be important to its success.

Lefort_opinion

Juneteenth acknowledgement a reminder that influence comes in many forms

2021-06-18T12:00:00+01:00By

The designation of Juneteenth as a federal holiday shows the good that can come from when powerful people acknowledge difficult truths.

Nicodemus_opinion

Hardball politics at play in leadership changes at PCAOB, CFPB

2021-06-08T19:48:00+01:00By

No federal agency is truly immune from politics—even the ones that are supposed to be independent. That is what’s playing out at the PCAOB and CFPB as Democrats utilize similar tactics coined by their Republican counterparts.

Bistrong_opinion

My Compliance Library: ‘To Be Honest’ a roadmap to address organizational disunity

2021-06-04T15:18:00+01:00By

Ron Carucci’s book “To Be Honest” enables everyone in an organization to build “honesty as a muscle” and to operationalize aspirational goals and principles into an individual and group ethical capacity.

McDevitt_opinion

CW21 Career Day takeaways: Buzz phrases to embrace for your personal brand

2021-05-28T15:49:00+01:00By

Over the course of Career Day at Compliance Week’s National Conference, the lineup of speakers used buzz phrases showcasing variations on a common theme: the importance of personal brand management in career success.

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AML culture is in need of a revamp

2021-05-25T18:28:00+01:00By

Bank culture continues to be a problem following the 2008 financial crisis, and strategies formed to prevent money laundering haven’t fared much better. It’s time for a new approach, writes Martin Woods.

McDevitt_opinion

Think big, act small: How the ‘PI Guidebook’ actualizes career goals

2021-05-25T12:00:00+01:00By

No one can hold your hand up the corporate ladder, but Executive Coach and Consultant Amii Barnard-Bahn is willing to give you a nudge up every rung in her new book.

Hodge_opinion

U.K. regulatory system also at fault in Greensill collapse

2021-05-20T17:19:00+01:00By

The collapse of Greensill Capital has led to investigations into how the company got into the financial mess it did and why alarm bells didn’t ring. But one investigation is noticeably conspicuous by its absence—why the company wasn’t properly regulated in the first place.

AmiiBB CW2021 keynote

CW21 Career Day provides timely forum for CCO advice

2021-05-17T19:28:00+01:00By

Amii Barnard-Bahn shares her thoughts from Compliance Week’s first Career Day, which she kicked off with a keynote on cultivating self-awareness.

Dirty window

CW presents: ‘Coming Clean: Volkswagen’s Dieselgate scandal and compliance monitorship’

2021-05-17T13:00:00+01:00By

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.

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Deutsche Bank’s continued AML struggles worth questioning

2021-05-14T15:16:00+01:00By

How is it Deutsche Bank can spend more than $1 billion on compliance enhancements but still be ordered to do more to improve its AML controls? Is the bank to blame or are regulators missing the big picture?

Lefort_opinion

5 reasons to be excited for Compliance Week 2021

2021-05-06T17:54:00+01:00By

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.

Jaeger_opinion

Cancel culture stresses need for senior execs to practice mindfulness

2021-05-04T17:54:00+01:00By

Given the “cancel culture” era we are in today, writes Jaclyn Jaeger, the need for senior executives to be mindful about the things they say and do outside the workplace is more critical than ever before.

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Video: ABN AMRO refreshingly accountable; pharmacists lose in COVID-19 vaccine push

2021-04-22T19:36:00+01:00By Compliance Week

Kyle Brasseur seeks silver linings from ABN AMRO’s €480 million settlement for AML failures, while Aly McDevitt calls out the retail pharmacies overextending their employees for the sake of distributing more COVID-19 vaccines.

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ABN AMRO fine response suggests moral compass of banking is shifting

2021-04-21T18:26:00+01:00By

ABN AMRO CEO Robert Swaak acknowledging his bank’s “moral duty” to prevent money laundering should be welcomed by all in the global AML community as progress, writes Martin Woods.

Brasseur_opinion

New chief compliance officer, same Facebook

2021-04-16T14:29:00+01:00By

It isn’t surprising to see Facebook think it doesn’t have an ethical obligation to alert users to its latest data leak, writes Kyle Brasseur, but it is disappointing knowing the company now has a chief compliance officer in place.

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Video: Kudos to whistleblower chief Jane Norberg on successful SEC tenure

2021-04-15T18:03:00+01:00By Compliance Week

Aaron Nicodemus applauds outgoing SEC whistleblower chief Jane Norberg for “revolutionizing” the program and the agency, while Kyle Brasseur laments Facebook’s ethical bungling of its recent data leak.

woods

Archegos collapse: $20 billion in losses, but a win for compliance

2021-04-12T12:45:00+01:00By

The collapse of Archegos Capital Management may go down as yet another episode that champions the importance of the voice of the compliance professional, writes Martin Woods.

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Video: Deutsche Bank, Credit Suisse, and combining risk and compliance

2021-04-08T18:52:00+01:00By Compliance Week

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.

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Video: More scrutiny coming to data breach disclosures?

2021-04-01T19:50:00+01:00By Compliance Week

Aly McDevitt assesses controversial data breach disclosures from U.K. retailer FatFace and technology vendor Ubiquiti in light of a report Congress is considering stricter requirements for reporting data breaches.

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In the battle over whistleblowers, money matters

2021-03-26T16:47:00+00:00By

Is there competition among international regulators with courting whistleblowers? If so, writes Martin Woods, the path to victory is obvious: monetary incentives.

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Video: Goldman junior banker scandal puts Wall Street ethics in spotlight

2021-03-25T20:22:00+00:00By Compliance Week

Kyle Brasseur reviews the Goldman Sachs junior banker scandal and whether complaints of employee crunch on Wall Street can lead to change in working conditions.

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Video: Lawsuit calls out Tesla general counsel carousel

2021-03-18T19:18:00+00:00By Compliance Week

Aly McDevitt praises several German companies for taking initiative ahead of an impending law mandating female representation on boards, while Kyle Brasseur reviews a shareholder lawsuit that criticizes Tesla’s instability at the general counsel position.

woods

Tolerance key to defining company culture

2021-03-18T13:28:00+00:00By

Many believe culture is all about conduct, but the culture sitting behind the conduct is based upon tolerance and intolerance, writes Martin Woods.

Nicodemus_opinion

SEC’s Crenshaw throws down gauntlet: Large fines are good fines

2021-03-11T22:17:00+00:00By

The tide has officially turned, corporate America. The SEC is returning to a previous position of measuring the agency’s success by the size and number of the fines it levies. Time to get your houses in order.

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Video: Meghan Markle, Burger King, and lessons in reputation management

2021-03-11T22:08:00+00:00By Compliance Week

Aly McDevitt examines Meghan Markle’s tell-all interview with Oprah through the scope of a whistleblower and highlights Burger King’s International Women’s Day Twitter fail as a lesson for companies in assessing social media reputation risks.

Roberts Ask a CCO

Ask a CCO: Are you in favor of federal data privacy legislation?

2021-03-09T21:30:00+00:00By Compliance Week

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.

McDevitt_opinion

On International Women’s Day, we should ‘Choose to Challenge’

2021-03-08T15:10:00+00:00By

International Women’s Day isn’t just about celebrating women. It’s also about challenging norms. As such, CW’s Aly McDevitt challenges you to read this piece without flinching.

Kortney Nordrum quote

Ask a CCO: How has your company prioritized data privacy compliance?

2021-03-05T13:44:00+00:00By Compliance Week

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.

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Video: Google ad change a boon for privacy; red flags apparent in Greensill downfall

2021-03-04T21:55:00+00:00By Compliance Week

Aaron Nicodemus acknowledges Google’s decision to stop selling ads based on user browsing history as a good first step, while Kyle Brasseur laments apparent red flags ignored in the seemingly impending collapse of Greensill Capital.

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Ask a CCO: What’s your strategy for preventing and detecting data breaches?

2021-03-04T13:40:00+00:00By Compliance Week

Five senior compliance practitioners outline their strategies for protecting their firms from data breaches.

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Ask a CCO: How is your company reacting to cyber-risks introduced by COVID-19?

2021-03-03T12:56:00+00:00By Compliance Week

Five senior compliance practitioners tell Compliance Week how their organizations are reacting to new cyber-threats introduced by the pandemic.

kortney quote

Ask a CCO: What’s your role in creating/implementing cyber-security policies?

2021-03-02T18:16:00+00:00By Compliance Week

Five senior compliance practitioners share insights on their roles in implementing and overseeing cyber-security policies and procedures.

Lefort_opinion

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.

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Banks filing more SARs amid pandemic; is this the right approach?

2021-03-01T14:09:00+00:00By

An increase in the submission of suspicious activity reports for cash values that fall under the mandatory $10,000 transaction reporting threshold last year is a proactive step by banks, but more can always be done, writes Martin Woods.

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Video: SEC on right path with climate disclosures; alleged privacy lapses at Amazon troubling

2021-02-25T22:39:00+00:00By Compliance Week

Aaron Nicodemus applauds the SEC for taking steps to clarify how companies should disclose economic risks posed by climate change, while Dave Lefort is critical of alleged lapses in data security at Amazon.

Office Politics cartoon

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.

Jaeger_opinion

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.

McDevitt_opinion

‘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.

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James Freis did the right thing at Wirecard … but why didn’t anyone else?

2021-02-12T18:21:00+00:00By

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.

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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.

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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.

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Goldman Sachs 1MDB fallout a case study for bonus risks

2021-02-03T20:05:00+00:00By

As Goldman Sachs cuts the pay of its top executives in response to more than $5 billion in penalties incurred for the 1MDB scandal, Martin Woods once again ponders whether bonuses helped facilitate the improper conduct that took place.

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Video: Thumbs-down to all parties in GameStop madness

2021-01-28T22:28:00+00:00By Compliance Week

While Kyle Brasseur gives Data Privacy Day the shout-out it deserves, Dave Lefort explains why retail investors, the apps they use, and regulators all “Failed It” in the GameStop stock market craze.

Lefort_opinion

A risk management perspective on GameStop stock surge

2021-01-28T21:37:00+00:00By

Actions taken by Robinhood and TD Ameritrade amid the crazy GameStop stock surge can be understood from the perspective of risk management, but who’s watching out for the retail investors? That’s where the real risks lie.

Bistrong_opinion

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.