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- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Aaron Nicodemus2023-05-03T17:27:00
A new KPMG survey of chief compliance officers at Fortune 500 companies found nearly three out of every four expect to enhance their compliance functions in response to pressure from regulators and their own boards.
The survey, released Wednesday, found 73 percent of 240 CCOs who responded said their firm’s compliance function faced increasing pressure from regulators, while 45 percent reported the regulatory pressure was industry specific. Survey respondents represented firms in six industries: healthcare/life sciences; financial services; technology, media, and telecommunications; manufacturing; commercial markets/retail; and energy/natural resources.
More than half (53 percent) of the survey respondents said their firm’s board was the top source of pressure to enhance the compliance function. For compliance teams in healthcare/life sciences, manufacturing, commercial markets/retail, and energy/natural resources, the board was the top pressure source; for financial services and telecommunications, the top pressure source was regulators.
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News and analysis for the well-informed compliance or audit exec.
Annual Membership best value
Subscribe now for $365
Our lowest price ($1 per day) for one year.
2023-06-07T19:54:00Z By Aaron Nicodemus
A new report by KPMG on key regulatory challenges for the second half of 2023 warned financial institutions to prepare for increased scrutiny, while all companies should expect more questions on how they oversee their cybersecurity and data management programs.
2023-06-02T17:46:00Z By Jeff Dale
Organizations must move beyond abstract theory and truly measure their compliance culture, a panel of experts discussed during Compliance Week’s 2023 National Conference.
2023-05-17T19:30:00Z By Aaron Nicodemus
One of the ways the Department of Justice will assess a firm’s compliance program is by judging how accessible and visible a company’s data is to its compliance function, an agency official told attendees at Compliance Week’s 2023 National Conference.
2024-05-21T12:45:00Z By Ruth Prickett
A recent survey by surveillance technology firm SteelEye found most financial institutions do not monitor their employees’ use of social media or factor in market risks exacerbated by social media posts.
2024-05-14T12:00:00Z By Adrianne Appel
Large public companies say they are prepared to comply with the disclosure requirements of the SEC’s new cybersecurity incident rule, according to a survey conducted by Compliance Week and DLA Piper, but concerns exist that those reports could enhance the threat of future cyberattacks.
2024-05-06T09:45:00Z By Aaron Nicodemus
Few compliance teams describe their access to company data as “robust,” according to a new survey conducted by Compliance Week and NAVEX, while apprehension toward the adoption of artificial intelligence remains a hurdle for the profession to clear.
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