Criminologists have debated for years the efficacy of the law enforcement strategy of “broken windows.” In simple terms, the theory suggests that minor infractions or petty crimes should be vigorously prosecuted in order to deter more serious crime. In addition, the theory suggests that a deteriorating environment (e.g. where broken windows are not repaired and allowed to increase), creates an environment where serious misconduct is...
At the outset, I have to apologize for the title but during my morning bike ride I usually come up with blog posting titles. But moving past the trite title, I have a point to make. It starts with a hypothetical – a CEO is supposed to introduce a company’s new code of conduct at a company event. Everyone attends – in person or virtually...
I am pleased to announce the new Corruption, Crime & Compliance Podcast. Episode 1 is, A Review of Trump Administration Enforcement Priorities. When the Trump Administration came into power, many commentators predicated that the Justice Department might significantly change enforcement priorities, especially FCPA enforcement. As discussed in the podcast, the Justice Department’s strategies are not so clear at this point, but some trends can be...
Date: Wednesday, September 13, 2017 Time: 12–1pm ET; 5-6pm British Summer Time Registration Link I am excited to announce that I will be joining Exiger to discuss a topic many compliance professionals are actively engaged with – automating third party due diligence – and how advancements in technologies such as artificial intelligence (AI) can help your compliance program evolve. I encourage you to tune in and...
There has been so much attention paid to due diligence. We have reams and reams of articles highlighting the importance of due diligence. In addition, numerous vendors of due diligence services and technologies fill the marketplace with whitepapers, articles and information underscoring the importance of due diligence and advising on how to conduct effective due diligence. There is nothing wrong with the attention paid to...
We are fascinated by corporate scandals. Since the 1980s, the US public has enjoyed unraveling corporate scandals, and vilifying corporate leaders caught in the web of deceit and misconduct. I am sure there are historical trends and themes for US public reaction to corporate scandals and the political response to the scandal of the day. The US public is rightfully outraged over the Justice Department’s...
Webinar: How to Conduct Effective and Efficient Due Diligence? Tuesday, September 19, 2017, 12 Noon EST Sign Up Here Companies have spent time and resources to design and implement critical due diligence systems. In doing so, companies have to ensure that their program operates efficiently, meaning that the due diligence program does not “boil the ocean” when collecting and analyzing information. It is imperative that...
A chief compliance officer can get overwhelmed with responsibilities and initiatives. CCOs have a never-ending to-do list – once an initiative is finished, the CCO has to jump to another “priority.” CCOs are responsible for operationalizing the company’s compliance program. The CCO’s success depends on the cooperation of related functions – procurement, legal, human resources, security, finance, internal audit, and information technology. While there has...
Compliance officers understand that a company’s greatest risks surround access to and use of money. A CCO has to understand a company’s financial controls, and in a perfect world, should have a seat at the table in the crafting and enforcement of such controls. A company faces serious harms, enforcement risks and collateral consequences from deficiencies in its financial controls. Sarbanes-Oxley requires public companies to...
The legal profession is undergoing significant changes. With an over-supply of attorneys and lower profits, lawyers are looking for new angles to distinguish themselves in the marketplace. In contrast, the compliance profession has grown in importance and opportunities. Unlike attorneys, companies are hiring compliance officers and salaries are increasing. As the demand for lawyers declines, more legal professionals are transitioning into the compliance field. In...
