The Magazine of Corporate Responsibility

Tag Archive for ‘Compliance’

After the Debacle: How News Corp. Can Rebuild Trust

The Murdochs and their executive team at News Corp. need to begin building “a new corporate conscience,” argues Patricis Harned, President of the Ethics Resource Center. “NewsCorp is now literally fighting for its life,” she writes. “The best defense, as we have seen with companies that have survived such crises, is not to spin its story, but to start writing a new one.”

Compliance Professionals Ask Justice Department for Data

Corporate compliance officers want the U.S. Department of Justice to provide data “that identifies how often an effective ethics and compliance program yields a direct return in enforcement decisions,” according to three leading professional organizations. They said the information is needed to help educate boards and management on the value of ethics and compliance programs.

Companies Seek to Challenge SEC Bounties for Whistleblowers

A section of the Dodd-Frank financial reform act requires the SEC to pay a cash award to whistleblowers to voluntarily provide original information about violations of federal securities laws that lead to a successful enforcement action. A particularly divisive issue: the proposed rules don’t require a whistleblower to first use internal corporate compliance procedures.

Budget Cuts, Lobbying Challenge SEC’s Oversight

When President Obama came into power on the heels of the financial crisis, he pledged to beef up the Securities and Exchange Commission, a chief watchdog of Wall Street. But with a strapped budget and the changing political winds in Congress, that plan may come up short.

Adding Value and Values to the MBA

When students return to campus in coming weeks, so will debate about the purpose of management education and the role of ethics. Columnist Gael O’Brien wonders whether current business leaders will support training new leaders in skills and competencies that support new models of business – or will it be simply business as usual?

Business Ethics in China: What Would Chairman Mao Think?

The Communist Party’s Central Committee has issued a code of ethics specifying 52 unacceptable practices and warned that violators would be “severely” disciplined and subject to criminal charges. The 52 practices include accepting cash or financial instruments as gifts, and using influence to benefit spouses, children or others in employment, stock trading or business.

Pfizer’s “Never Ending Dance” to Regain Its Reputation

What’s it like to have your company plead guilty to a crime and pay a $2.3 billion fine? “To put it bluntly, it’s like being hit in the face by a two-by-four. Even for a big company, it’s a very, very difficult thing to go through,” said Douglas Lankler, Senior Vice President and Chief Compliance Officer of Pfizer, the world’s largest drug company.