Tagged: Corporate Governance

19 Jul, 2022

The Importance of Ethics and Compliance to the Overall Corporate Mission (Part II of IV)

There are lots of sources for compliance guidance — prosecutors, regulators, compliance organizations, and many others have set forth important and valuable guidance for the design and implementation of an effective ethics and compliance program. All of this guidance is helpful and has advanced the cause of corporate compliance. After all, for decades now, the importance of corporate ethics and compliance has steadily grown. It...

General

18 Jul, 2022

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...

General

28 Jun, 2022

DOJ Compliance Program Certification Requirements (Part I of III)

The Department of Justice continues to respond to the compliance community’s concerns about the new certification requirement adopted as part of the Glencore FCPA enforcement action. DOJ has adopted this new requirement to “empower” CCOs and to ensure that CCOs have a “seat at the [senior management] table.” While these are all laudable goals, CCOs continue to question whether DOJ’s new certification requirement will undermine...

General

21 Jun, 2022

Private Attorneys General: Enforcing Human Rights Through Corporate Supply Chain and Risk Management (Part I of II)

The Volkov Law Group is pleased to announce our first, official summer internship program. We have welcomed a diverse group of talented, intelligent, and driven college students, who are interested in pursuing legal or compliance careers. In this blog article, our intern Abigail Schuman, a rising junior at the University of Wisconsin, discusses certain legislation aimed at combatting slave labor and human trafficking in corporate...

Podcasts

12 Feb, 2022

Episode 224 — 2022 Ethics and Compliance Predictions

Ethics and compliance professionals believe in their mission – if they did not, they would not be in the field. E&C professionals believe in the power of positive thinking, ethical conduct, and in the overall ability of an organization to operate as an “ethical” company. They work for their mission and it is a positive mission. The New Year is a great time for E&C professionals...

General

30 Nov, 2021

Boeing Settles Shareholder Litigation and Agrees to Reforms (Part IV of IV)

The crushing aftermath of the tragic 737 MAX scandal is disturbing at the least. Innocent lives were lost because of Boeing’s culture misfires, poor leadership at the management and board level, and an arrogant disregard for the impact of safety concerns. Boeing’s 737 MAX fleet was grounded for twenty months, until November 18, 2020. Boeing was ordered by the FAA to cure the defects in...

General

24 Nov, 2021

The Delaware Court’s Decision Highlights Boeing’s Defective Corporate Culture and Board Governance Failures (Part II of IV)

When considered in light of the Chancery Court’s decision, DOJ’s essential findings in its Boeing investigation are problematic at best. The Chancery Court’s decision outlines how Boeing’s culture of safety deteriorated into a culture of cost-cutting and profits, while under supervision of a board with star-studded credentials. The Delaware Court’s decision provides a perfect example of how weak corporate governance can have a direct and...

General

28 Oct, 2021

Implementing ESG Programs: Structure and Responsibilities (Part I of III)

ESG – the initials that are transforming corporate missions, purposes and structures, fueled by stakeholder and investor demand. It is a significant moment in corporate and stakeholder interactions. Companies recognize the responsibilities but even more importantly, the opportunities, to build a sustainable and financially profitable organization. But there are significant changes that have to occur along with the ESG objective. I am dubious about the...

General

19 Oct, 2021

Delaware Court Rejects Motion to Dismiss Lawsuit Against Boeing Board Members for Failure to Conduct Proper Compliance Oversight (Part III of III)

The Delaware Chancery Court is continuing its trend of permitting Caremark claims against corporate board members who fail to exercise proper oversight and monitoring of compliance programs. The Delaware Court’s latest decision involving the Boeing board and its failure to conduct proper oversight of the 737 MAX safety scandal is yet another example. At bottom, the Chancery Court is raising the stakes on board member...