As an initial step, an audit of an internal investigation program requires a detailed understanding of the operation of a company’s internal investigation program. In crafting the audit, the first step is to define the relevant universe of investigations. The audit scope will depend on the number of investigations to be review based on the number of investigations and the years to be reviewed. Assuming...
In the compliance idea marketplace, there has been an increased focus on the importance of maintaining an organization’s speak up culture and the importance of a reliable and efficient internal investigation program. From a practical standpoint, if a company has a defective program for encouraging reporting, and conducting timely and efficient investigations, the company is likely to suffer from some serious breakdowns in conduct and...
With the growth of the compliance profession and the importance of compliance functions as part of corporate governance, there has been a significant increase in the quantity and quality of compliance studies and surveys. It takes time to keep up with all the compliance information being developed and released. Here is a quick summary with links to some important new publications in this area: LRN’s...
We are living in rapidly changing times. I know it sounds trite but it is amazing when you witness rapid innovation and change. Even in our narrow corner of life involving ethics and compliance, we can see change occurring right before our eyes. When you review due diligence and third-party risk management, there has certainly been significant advances in capabilities to identify risks, uncover relevant...
All you need in this life is ignorance and confidence, and then success is sure. Mark Twain People are good at convincing themselves that everything is okay, despite troubling indications. Sometimes it is easier to ignore warning signs than to face the harsh reality. It is really a part of the human condition – we fail to intervene or take action unless required to do...
Company managers are the lynchpin of a corporate compliance program. Without belaboring the Tinkers to Evers to Chance baseball analogy, a corporate culture of compliance requires an important information and accountability flow (or cascade) from leadership to senior managers to on-the-ground managers. It is at this level that the compliance message requires effective communications and conduct by managers directly to employees. This is where the...
On May 16, 2019, I participated in a live webinar sponsored by Bureau Van Dijk, “Is Power and Control the New Beneficial Ownership?” The panel discussion was interesting and insightful. Ted Datta, Director, Governance, Risk and Compliance Solutions, Bureau van Dijk, Bill Hauserman, Senior Director, Compliance Solutions, Bureau van Dijk, and myself. The replay is available HERE. (Replay begins at 14:00) The discussion covered a...
We all like to believe in straight-forward and consistent trends and developments. For example, compliance programs are improving, budgets are increasing, and CCOs are embracing new technologies. Everything is just rosy when it comes to compliance. But reality is far from consistent and far from simple trend lines and straight-forward explanations. Please do not get me wrong – over the last ten years, the rise...
Jessica Sanderson, Senior Counsel at The Volkov Law Group, recently attended the Rocky Mountain Securities Conference in Denver, Colorado. Jessica’s posting summarizes the major compliance themes from the conference. Jessica can be reached at [email protected]. On Friday May 3, 2019, I attended the Rocky Mountain Securities Conference in Denver and heard from a number of regulators and industry experts, including SEC Commissioner Hester Peirce. SEC...
The Volkov Law Group has scheduled a free webinar to review OFAC’s new Framework for Sanctions Compliance Programs for May 22, 2019, at 12 Noon EST. Sign Up Here. OFAC’s new compliance framework includes a valuable section on common root causes of OFAC violations. OFAC has included this discussion to assist companies in designing, updating and amending their respective Sanctions Compliance Programs (SCPs). The discussion...
