- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Aly McDevitt2021-05-19T13:00:00
Volkswagen Board Member Hiltrud Werner and Chief Coordinator Dr. Thomas Meiers gathered a cross-functional team of 80 people from first, second, and third lines of defense areas: engineering, environmental management, procurement, sales, and finance (first line); risk, compliance, quality management, and human resources (second); and internal audit (third). It wasn’t about projecting a certain strength in numbers. It was about providing the monitor team with all the resources they could ever need. In particular, Volkswagen wanted to connect the monitor team with people who had the relevant information “at their fingertips,” explained Werner.
“With a monitorship, you’re always working with one resource that is limited, which is time,” said Meiers. “It was not only limited to the company but also to the monitor, because there were milestones the monitor wanted to reach in his respective [monitor/auditor] reports.”
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2025-04-24T18:07:00Z By Aaron Nicodemus
The Consumer Financial Protection Bureau (CFPB) has quickly become one of the most active agencies advancing the Trump administration’s pullback on prosecuting corporations, as it dropped yet another consumer protection lawsuit against a financial services company Wednesday.
2025-04-24T12:00:00Z By Ruth Prickett
Director accountability is back in the spotlight in the U.K., even as the government pushes for regulatory simplification to cut red tape and drive growth. This raises questions about how boards can be encouraged to take risks to grow their businesses while also being held more accountable for governance failings. ...
2025-04-23T11:25:00Z By Ian Sherr
The European Union issued significant antitrust fines against two tech titans, hitting Apple with 500 million euros (U.S. $570 million) and Facebook owner Meta with 200 million euros (U.S. $228 million). The move sought to undermine key parts of both companies’ businesses less than a month after U.S. President Donald ...
2024-03-21T16:00:00Z By Aly McDevitt
Both JPMorgan Chase and Deutsche Bank retained their respective Jeffrey Epstein relationships for too long. Yet, there is a case to be made for why exiting a high-risk relationship too soon can become an inverse form of recklessness.
2024-03-20T16:00:00Z By Aly McDevitt
Why did JPMorgan Chase retain Jeffrey Epstein for more than a dozen years? How did the relationship persist despite glaring red flags? The “why” is straightforward; the “how” is more complicated.
2024-03-19T16:00:00Z By Aly McDevitt
Jeffrey Epstein’s designation as a high-risk client should have subjected him to enhanced due diligence that never appeared to occur, most notably at Deutsche Bank. Instead, Epstein was allowed to continue his misconduct despite numerous red flags.
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