All articles by Tom Fox – Page 7
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Blog
The board's role in hiring senior executives
The Man From the FCPA asks, “What is the role of a board of directors in hiring senior executives, chief compliance officers, and even other board members?” Both fiduciary risk and exposure for the board of directors cannot be overlooked.
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Boards and their own succession planning
What is the board’s role in succession planning? At a bare minimum, a board should assure there is a pipeline of qualified candidates for its own succession planning.
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Some troubling questions at Morgan Stanley
Allegations of domestic violence against one of Morgan Stanley's top producers raise larger questions about the firm's code of conduct, internal investigations, and compliance standards.
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When tone at the top means cheating at the top
In one of Cricket’s biggest scandals ever, the Australian national Cricket team, concocted a scheme to scruff the ball on piece of yellow tape in the pants pocket of the bowler, Cameron Bancroft. Is the team corrupt, through and through?
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Be careful what you wish for, Corporate America
Businesses might soon regret the Supreme Court’s pro-business Somers decision, which impacts the Dodd-Frank Act anti-retaliation whistleblower provision.
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CCO reporting to a board
A look at some best practices for chief compliance officers to follow when reporting to the board of directors.
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Kinross and internal controls
There are some important lessons that can be garnered by CCOs when examining recent FCPA internal control violations made by Canadian gold and silver mining company Kinross.
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The continuous improvement cycle in compliance
There are two basic tools in the continuous improvement cycle for any best practices compliance program, auditing and monitoring. The Man From FCPA illustrates how to effectively accomplish both within your program.
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What does tone from the top really mean?
Is Novartis really answering to the recent allegations that have been brought against the company, or is the chairman just paying lip service?
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Post-mortem on Theranos—where were the controls?
Theranos’s fall from grace is one large-scale compliance failure. The reason? It’s all about internal controls, writes The Man From FCPA.
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Incorporating compliance into long-term strategy
How can a board work to incorporate the compliance function into a long-term business strategy of the organization? The Man From FCPA offers some suggestions.
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What is the price for profits?
LaFargeHolcim, a global construction materials and solutions company, is facing an investigation after it was uncovered that its Syrian operations funded terrorist groups to keep a cement plant operating.
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Of Saudi princes and gilded cages
If you have done business in Saudi Arabia or with wealthy Saudis over the past few years, now might be a very good time to review not only those business relationships, but also your FCPA compliance program, writes The Man From FCPA.
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March Madness and corruption
March Madness is looked at as one of the greatest sporting events of the year. It combines great play, underdogs felling giants, fantastic venues, devoted fans, and competition galore ... but this year it offers something else: an abject lesson in the failure of ethical conduct of the very institutions ...
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The role of boards is to ‘put sand in the shoes of management’
One of the ongoing questions from members of boards of directors is how to resolve the tension between oversight and managing. An excellent starting point to understanding this role is to consider the metaphor, “put sand in the shoes of management.”
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Key factors to consider in any board-led investigation
Many companies have an investigation protocol in place when a potential Foreign Corrupt Practices Act or other legal issue arises. Many boards, however, do not have the same rigor when it comes to an investigation, which should be conducted or led by the board itself, writes The Man From the ...
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The board's role in internal controls
Internal controls for a board or board compliance committee should be broken down into five concepts, says The Man From FCPA.
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CCO reporting to the board
Chief compliance officer reporting to the appropriate board of director’s compliance committee has to be structured carefully to promote ethics and compliance. Inside are five best practices that should guide the reporting.
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Compliance lessons from the HP-Autonomy fiasco
The Man From FCPA discusses the reasons behind one of the greatest corporate disasters in the past few years: the acquisition of Autonomy by Hewlett-Packard.
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Is a success fee high risk?
It was reported that two U.S. lawyers had proposed a success fee in the amount of $75 million, if they could get the Department of Justice to drop its investigation into the 1MDB “quickly.”