Tagged: Chief Compliance Officer

A Five Step Program for Every Company to Address the New Enforcement Threats

Companies have to demand a new focus from their CEOs, senior executives and legal compliance team in response to the new DOJ and regulatory initiatives.  These steps are not just suggestions nor items that can be prioritized based on resources.  Instead, these are essential and basic requirements that will inevitably result in significant benefits across the company.  Step 1: Define, Embed and Monitor Corporate Culture...

Episode 270 — DOJ Mandates Greater Cooperation Between CCOs and HR

The Justice Department’s recent emphasis on ethics and compliance culture, along with greater specificity on “consequence management” is a welcome breath of fresh air.  It is a policy coming for a long time and will bring about significant improvements.  Do not get me wrong – there will be bumps and bruises along the way, hurt egos and turf battles, but in the end HR and...

A Window into Corporate Boards’ Views for 2023

It is fun to follow all the early year views of trends, predictions and survey results.  The beginning of the year includes lots of perspectives and analyses.  Corporate boards are at the center of these important views.  In a recent survey released by National Association of Corporate Directors, the top trends unsurprisingly referred to economic worries – inflation, a potential recession and continuing business disruptions....

Lessons Learned and the Big Picture: ABB – the Three-Time Loser – Settles Yet Another FCPA Case (Part III of III)

The ABB case, like most significant FCPA enforcement actions, sets important precedent and policy reminders. With time, and looking back, ABB gives companies with a prior criminal history a way forward to seek a fair resolution notwithstanding huge obstacles based on past performance.  If you are ABB, you dodged a significant bullet – the appointment of an independent compliance monitor, which DOJ has been regularly...

The Importance of Independence to a CCO’s Role

It is easy to be dogmatic in blog postings — to express an unvarnished opinion that sounds valid.  While it may not be supported by hard data or valid evidence, compliance officers are used to trusting their “gut feelings,” when it comes to compliance.  Compliance professionals with experience agree largely on big ticket issues, and this view often reflects lots of real-world experience.  Sometimes the...

Episode 240 — The CCO’s Role in an Effective Compliance Program

I have been — and continue to be– hyper-focused on the proper role and responsibilities for Chief Compliance Officers. Not that I see any cause for alarm, but it is easy to lose focus in the sea of so-called hot issues — ESG, Diversity, Climate Change, Threats to Democracy, Cybersecurity and Data Privacy, each of which is an important component and focus for organizations. All of these...

Where Does Your Compliance Program and CCO Fall Under DOJ’s Independence, Authority and Resources Test? (Part IV of IV)

As we enjoy the remainder of the summer and get ready to launch into a new fall season (no, not football) but a time for renewal and recommitment, this may be a good opportunity to examine and analyze your own compliance program.  DOJ’s framework provides a valuable set of questions and issues needed to conduct this analysis.  It is important to note the critical ability...

The Effective CCO: Independence, Authority and Resources (Part III of IV)

As Supreme Court Justice Potter Stewart eloquently opined in Jacobellis v. Ohio (1964), on the legal definition of obscenity, “I know it when I see it.”  This same test applies to other issues as well — when it comes to an effective ethics and compliance program, and an effective CCO, “[We] know it when [we] see it.”  Or conversely (and perhaps confusingly), “[We] know it...

The Chief Compliance Officer: The Blueprint for Success in the Future (Part I of IV)

OK, I admit it.  I have been — and continue to be– hyper-focused on the proper role and responsibilities for Chief Compliance Officers.  Not that I see any cause for alarm, but it is easy to lose focus in the sea of so-called hot issues — ESG, Diversity, Climate Change, Threats to Democracy, Cybersecurity and Data Privacy, each of which is an important component and...

What Happens When the CCO is Buried in the Organization?

Let me paint a picture for you.  It is not pretty.  Unfortunately, this picture occurs all too often in the corporate governance landscape.  The first picture captures the presence of chief compliance officer in a stand-alone office in a mid-size public company.  The company is not subject to any robust regulatory regime.  The CCO has a staff of one or two people, coordinates some compliance...