The Olympics are on and everywhere I go people are excited and inspired. I personally feel that just by watching, I'm part of something great.
Entries in Training (40)
Local firms in emerging markets are often highly attractive to multinationals looking for new suppliers and partners. Those local firms, many of them mid-sized, see joining a global value chain as a key step for survival.
Recently the CCO of a major financial institution was telling me how his principal regulators now insist upon seeing compliance metrics. The regulators demand quantitative evidence that the firm makes good on its commitment to compliance. So the firm produces a stack of documents -- “dashboards,” “heatmaps,” “scorecards,” “KRIs,” “KPIs,” and so on.
With every enforcement action comes lessons and warning tales for other companies and compliance officers. Last week Qualcomm paid $7.5 million to settle SEC charges that it violated the Foreign Corrupt Practices Act by hiring relatives of Chinese officials responsible for deciding whether to select the company’s mobile technology products.
Whether we agree with their politics or not, most presidential candidates are a great example of mass communicators, educators, and trainers. They manage to engage millions of people on issues that many would usually consider boring, such as the minutiae of domestic and foreign policies.
The DOJ and SEC haven't used the word "scalable" to describe an effective compliance program. But they've described scalability when talking about what's needed.
As you look back on the past year, you will surely find some anti-corruption compliance victories -- even as there are undoubtedly still areas of needed improvement.
The Federal Deposit Insurance Corporation Wednesday imposed a civil penalty of $140 million against Banamex USA of Century City, California for violations of the Bank Secrecy Act (BSA) and anti-money laundering (AML) laws and regulations.