These are some of the compliance-related stories that recently caught my attention.
A Hill To Die On By Donna Boehme in SCCE’s Compliance & Ethics Blog
Of the thousands of decisions that must be made in the course of designing and implementing a meaningful compliance program to cover all of an organization’s top risks, what really matters? This is the judgment that successful CCOs develop over time through experience and observation, and working with their mentors and thought circles. It’s as if Fisher and Ury wrote a special CCO edition of their great business book “Getting to Yes,” filled with examples from our field. Now THAT would be a book worth having on every CCO’s bookshelf! Or how about 7 Habits of Highly Effective CCO’s? As the dear departed Dr. Stephen Covey would say “Begin with the end in mind!”
Corporations, the Constitution, and the Rights of Others by Thomas Joo in the CLS Blue Sky Blog
Unfortunately, denying corporate constitutional rights is unlikely to have much effect. Insofar as the Supreme Court has protected corporations under the Constitution, that protection does not expressly rely on the notion that a corporation per se has constitutional rights. To the contrary, a central strategy of the Court’s corporate constitutional jurisprudence has been to avoid deciding whether corporations are the holders of constitutional rights. Constitutional decisions protecting corporations have not been based on the rights of corporate “persons,” but on the less controversial rights of human persons. That is, “corporate” constitutional rights are actually based on the rights of others. [More…]
Mark Cuban Joins Increasing Clamor Against SEC Administrative Proceedings by Amanda Maine, J.D. in Jim Hamilton’s World of Securities Regulation
Businessman Mark Cuban, calling himself a “first-hand witness to and victim of SEC overreach,” has filed an amicus brief in the Eleventh Circuit urging it uphold an injunction of an SEC administrative proceeding against Charles H. Hill, Jr. Cuban drew on his own experience during the SEC’s unsuccessful insider trading action against him to argue that the use of administrative law judges in complex litigation such as insider trading cases is unfair and against the public interest (Hill v. SEC, September 15, 2015). [More…]
Parking Meter Expired. Or Maybe Not by Adam Turteltaub in SCCE’s Compliance & Ethics Blog
All of this is yet another example of why incentives need to be treated as a risk area. When people are offered a reward for hitting a goal, they are more likely to try their best to achieve it. For some, that will mean cutting corners, bending rules, or just plain cheating. [More…]