Skip to content

Compliance Building

Doug Cornelius on compliance for private equity real estate

Menu
  • Home
  • About
    • About
    • About Doug
    • About This Website
    • Why I Blog
    • Speaking Engagements
    • Contact
    • Publications
  • Archives
    • Topic Archive
    • Book Reviews
    • Most Popular
  • Subscribe
  • Disclaimers
    • Disclaimers
    • Policies and Procedures
    • Use of Site Content
    • Comments
    • FTC Disclosure
Menu

Froome, Teamwork and Success

Posted on July 24, 2017 by Doug Cornelius
Print Friendly, PDF & Email

Professional cycling is not a mainstream sport in the U.S., so I would guess that few reading this story share my love of the Tour de France. (With the notable exception of Tom Fox.) The race has several different competitions going at the same time, with a confusing mix of skinny guys, tarted up with sponsors like a NASCAR racer. I became a fan two decades ago and continue to be enthralled by drama and athletic heroism on display.

On Sunday, Chris Froome was once again adorned with the “Maillot Jaune” on the Champs-Élysées as the overall winner of the 2017 Tour de France. This is his fourth win and puts him in the cycling pantheon as one of the greatest.

In his previous victories in 2013 and 2015, Mr. Froome dominated his rivals and was clearly the strongest overall contender. Last year, he seemed beatable, but still won. In 2017, Mr. Froome squeezed out his winning margin of 54 seconds on Rigoberto Uran and 2:20 on Romain Bardet during the two time trials in Dusseldorf and Marseille. He lost time to his rivals on the three mountain finishes. For one day he lost the yellow jersey to Fabio Aru in the Pyrenees when he was clearly out ridden and outwitted by his rivals. Mr. Froome completed the rare feat of winning the Tour de France without winning any of the individual stages.

Mr. Froome won this year because of teamwork. Team Sky was clearly the best team in the Tour de France. Rarely did we see Mr. Froome without teammates to support him, while his rivals were isolated on the road. In fact, his teammate Mikel Landa was only 1 second away from being on the podium in third place.

The results are a stark reminder of the importance of teamwork. It’s not good enough to be the best individual compliance officer. You need a team to win. You need the support of the compliance team around you. (Assuming you are big enough to have a team.) You need the support of the entire organization, working together, to make sure everyone works within the rules.

A typical Tour de France day will have a small breakaway of riders charge away from the main group of riders. The breakaway will be allowed to have the small wins along the stage while the main group conserves energy for the final victory. The leading riders will task their supporting riders with charging forward near the end to pass the breakaway and position them for victory.

Compliance is about teamwork and not the individual victory.

Sources:

  • Chris Froome Wins Tour Again; Maintenance and Compliance by Tom Fox in the FCPA Compliance Report
  • Cycling and the Securities and Exchange Commission
  • Compliance, Cycling and the Tour de France
  • Compliance and the Tour de France
  • Compliance, the Tour de France, and Doping
  • Veni… Vidi… Wiggins!
  • Compliance Lessons from the Tour de France

I’ll being doing my own bike ride in a dozen days, although it will be far less of a feat than the Tour de France. On August 4 – 6, I will saddle up to ride with 6,200 other cyclists to raise money for life-saving cancer research and treatment at Dana-Farber Cancer Institute. 100% of your donation will go to cancer research and treatment at Dana-Farber Cancer Institute through its Jimmy Fund. I have made a personal commitment to raise $8000.00. I hope that as a reader of Compliance Building you will support my fundraising effort. You can donate through any of the following links:

Thank you,
Doug

  • Donate $1,000
  • Donate $500
  • Donate $250
  • Donate $100
  • Donate $50
  • Donate $25
  • Donate any amount

 

Share this:

  • Click to print (Opens in new window) Print
  • Click to share on Facebook (Opens in new window) Facebook
  • Click to share on LinkedIn (Opens in new window) LinkedIn
  • Click to share on X (Opens in new window) X
  • Click to email a link to a friend (Opens in new window) Email

Leave a ReplyCancel reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Search for Stuff

Recent Stories

  • Compliance Bricks and Mortar for January 9
  • “Small”: I Don’t Think You Know What That Means
  • CFTC is Saying Goodbye to Private Funds
  • New York’s LLC Transparency Act Will Remain Limited
  • SEC and CFTC With Only Republicans
  • Compliance Books from 2025
  • Happy New Year
  • The One That Can Drive You and Give You Investment Advice
  • The One with the Foreclosure and OFAC Sanctions
  • Can Precious Gem Buying Being Securities Fraud?

Fight Cancer

Please support my Pan-Mass Challenge
Make a donation to fight cancer. donate.pmc.org/DC0176
pan-mass challenge badge

I am a lawyer, but I am not your lawyer. Since I’m a lawyer, this website may be considered attorney advertising under the ethical rules of certain jurisdictions. Please read my disclaimers page before taking any action. And then, don't take any action based on what I wrote.

Creative Commons logo with the text 'Some Rights Reserved' and three symbols representing attribution, non-commercial use, and share alike.

Compliance Building - by Doug Cornelius is licensed under a Creative Commons Attribution-Noncommercial 3.0 United States License.