Articles | Compliance Week – Page 284
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New U.K. Law Turns Up Heat on Human Trafficking Transparency
Image: Companies doing business in the United Kingdom, take note: a new law in the country establishes new disclosure obligations about what you’re doing to tackle slavery and human trafficking in your operations, as well your supply chain. “Companies should start preparing to ensure compliance with the legislation as soon ...
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Supply Chain Risk Continues to Challenge Companies
Rare is the business these days that can afford to be cavalier about the regulatory scrutiny on its supply chain. So why do so many still struggle so much to gain visibility and control over vendors and suppliers? A lack of sophistication in monitoring third parties (never mind fourth parties ...
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Aligning the Organization for Principled Performance
Management must align objectives to the organizations’s business environment and internal culture, but what does alignment really mean? In this latest installment of the GRC Illustrated Series, brought to you by Compliance Week and OCEG, experts discuss alignment in the context of GRC and keeping the company on the right ...
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SEC Accounting Enforcement: Bigger and Badder
Image: Perhaps some public companies haven’t yet taken to heart the (numerous) signals from regulators to button up their internal controls. A recent legal analysis of accounting-related enforcement actions from the SEC should do the trick. Sanctions are happening more frequently, and penalties are bigger. “The SEC is effectively ...
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Shop Talk: Moving From Compliance to ERM
Moving from silos of compliance to enterprise risk management is a complex task under the best of circumstances. Where should ERM sit within the company? How do you win support from business units? How do you get the data you need to make informed decisions about risk? At Compliance ...
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Roundtable Biographies - 091515
On Sept. 15, Compliance Week and Workiva presented an editorial roundtable at the Hyatt Regency in Orlando. The focus of the roundtable, which was moderated by Compliance Week Editor Matt Kelly, was on compliance collaboration to drive ERM. Attendees’ full biographies are below.Marie BlakeEVP, Chief Compliance OfficerBank United Marie Blake ...
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Appellate Court Ruling Leaves Compliance Officers Whistling in the Dark
Image: The recent appellate court ruling to expand Dodd-Frank whistleblower protections again, even to those who don’t report misconduct to the SEC, does no favors for companies trying to find the right policies for anti-retaliation. Ken Gage, head of the whistleblower defense practice at law firm Paul Hastings, says the ...
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Managing Cyber-Risk in the Aviation Industry
Cyber-risks are increasing everywhere, and this week we look specifically at the aerospace sector. Recent high-profile data breaches at major airlines have jolted the industry, which is trying to piece together better ways to manage the risks. “Airplanes themselves have never been more complex, never been more reliant on technology. ...
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Today’s Revenue Rule Surprise: Non-Financial Assets
Image: Companies are starting to awaken to yet another wrinkle in the new revenue recognition standard: how it will affect the sale of non-financial assets, such as when you sell off an old property or intangible asset. “If you’re not in the real estate business, you don’t think of the ...
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Calls for More Data Sharing to Step Up Terrorism Fight
Washington wants Corporate America to step up its attention to terrorism risk. That was the message at a recent congressional hearing, the latest instance of voices saying business and government should cooperate to uncover terrorists’ sophisticated financing schemes. “Most of the early warning signs reside with the private sector, and ...
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Navigating Global Internal Investigations Under Main Justice’s New Policy
Image: The Justice Department’s new Yates Memo, demanding much more cooperation from companies to find individual wrongdoers, will pressure companies to pressure employees during internal investigations. In Europe and elsewhere, however, the law favors employees much more than in the United States, making global investigations a tall order. “Most developed ...
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Internal Investigations Just Got a Lot More Complicated
Image: Compliance officers should brace themselves after Deputy Attorney General Sally Yates’ speech last week calling for more prosecution of individuals involved in corporate misconduct—the implications for internal investigations are huge. Inside we have the full analysis of how this policy shift, which sharply splits company and executive interests, will ...
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Despite Progress, Anti-Corruption Risks Continue
Last week KPMG released a report on anti-bribery and corruption programs that will surprise nobody: Compliance challenges are growing, and third parties are harder to manage than ever. After nearly a decade of anti-corruption awareness and compliance programs, then, the real question is: Why is anti-bribery still so hard? Inside, ...
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Lease Modifications Trigger New Headaches
Image: Beware when negotiating with your landlord: Accountants are noticing an uptick in lease modifications and are warning companies to heed the accounting and financial reporting consequences. The nuances of lease accounting are many and even trip up large retailers. That can be especially true when your lease negotiators are ...
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As Startups Grow, Many Start Needing Compliance Sooner
Once upon a time, start-up companies—whether toiling away in a garage somewhere or moving their way up in the world—rarely even considered a compliance program; that was something they would only need in the future. Now many find that the future comes mighty fast these days. Inside, a closer look ...
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Getting a Better Read on ‘Conduct Risk’
Image: “Conduct risk” is a phrase uttered by many regulators these days and a menace compliance officers in banking circles worry about more and more. Still, putting a precise definition on it isn’t easy. “Conduct risk frequently demands that a firm address the widest range of policies, processes … and ...
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Preventing an FTC Cyber-Security Action
Image: A federal appeals court has upheld the Federal Trade Commission’s efforts to sanction companies for poor data security practices—which opens a new front of cyber-security compliance and legal risks for Corporate America. “Basically, if consumers trust you with data, you need to use reasonable business efforts to honor that ...
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Human Trafficking Lawsuits Expose Companies to Greater Supply Chain Risk
Image: While you were worrying about conflict minerals, class-action lawsuits over cat food and shrimp cocktail have emerged as the new compliance risk. Suits against Nestlé and Costco both claim the companies used shrimp produced using slave labor in Thailand. What’s more, plaintiffs are using required supply chain disclosures from ...
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Investment Advisers Next to Feel AML Scrutiny
Investment advisers have never had to face formal anti-money laundering requirements. That is about to change. A proposed rule by the Treasury Department’s Financial Crimes Enforcement Network adds them to the definition of “financial institutions” and demands comprehensive anti-money laundering programs. That has raised concerns of cost and redundancy and ...
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New NLRB Standard Causes Compliance Joint Pains
Image: The National Labor Relations Board has startled Corporate America with its recent ruling that drastically expands the definition of a “joint employer.” Compliance officers should scramble for all those contracts your company has with staffing agencies, franchisees, and similar parties; review them closely to shed any right of control ...