My notes, live, from the presentation by Neal Stephens and Bill Freeman of Cooley Godward Kronish on the top ten problems and how to avoid them. The focus of the session was to help companies who must conduct an internal investigation avoid pitfalls that add expense, embarrassment and exposure. There are many problems that come … Read more »
Third Party Risks
My notes, live, from Third Party Risks with Matt Tanzer of Tyco International and Chris Nowak of Wyndham Worldwide. For Tyco they have 110,000 employees around the world, most outside the United States. Their first step was to identify all of the third parties. This was a big task. They went to their master vendor … Read more »
McNulty Keynote on a Tale of Two Sectors
My notes, live, from former U.S. Deputy Attorney General Paul McNulty Keynote on A Tale of Two Sectors: The Challenges of Corporate Compliance – When Enforcement Increases and the Economy Declines. Mr. McNulty is now a partner at Baker & McKenzie. He is the author of the McNulty Memo on the government’s perspective on prosecuting … Read more »
The S&P Assessments
My notes, live, from the Compliance Week Conference session by Steven Dreyer who is overseeing Standard & Poor’s program to assess corporate ERM efforts as part of credit ratings. Standard & Poor’s To Apply Enterprise Risk Analysis To Corporate Ratings (.pdf) S&P’s ERM review for non-financial companies will be based primarily on information provided by … Read more »
Assessing the Effectiveness of Compliance and Ethics Programs
My notes, live, from Jack Holleran of Ernst & Young and Patricia Prince-Taggart of CA on ways to measure program effectiveness, with an analysis of qualitative and quantitative measures. Jack put forth three primary objectives to compliance programs: To prevent non-compliance To detect non-compliance To enhance business processes and decision-making He offered the following as … Read more »
Harvey Pitt on Ethical Cultures in a Down Economy – Compliance Week Keynote
My notes, live, from the Compliance Week keynote speech by Harvey Pitt on Ethical Cultures in a Down Economy: After a very brief introduction (especially compared to yesterday’s keynote) by Scott Cohen, Mr. Pitt dove into an entertaining and informative speech. Learning from history is in fact virtually impossible. The only thing we only learn … Read more »
The SEC’s Radical Disclosure Overhaul
My notes, live, from Dr. William Lutz on The SEC’s Radical Disclosure Overhaul. (Disclaimer: The presentation represents the views of Dr. Lutz and not necessarily the views of the SEC.) He started off with a definition of “Information”: That which reduces uncertainty. (From Shannon and Weaver’s Mathematical Theory of Communication) If it’s not information, it’s … Read more »
It’s Not Fraud, But it Can’t be Ignored
This session was a “dark session” so I am not sharing my notes, but will share a few themes that emerged. Most hotline complaints are for incidents that are not true compliance or ethics issues. Most studies show that HR issues tend to be almost half of the complaints. There were two camps of thoughts. … Read more »
Richard Ketchum Keynote from the Compliance Week Conference
My notes, live, from the Richard Ketchum keynote at the Compliance Week Conference. Mr. Ketchum is the newly named chairman and CEO of FINRA. It is a terribly important time as financial markets are in the process of transformation. It was two years ago when the first signs of the credit crisis appeared. The silver … Read more »
Self-Assessments: Criteria and Procedures for Evaluating GRC Programs
My notes, live, from Self-Assessments: Criteria and Procedures for Evaluating GRC Programs, with Gracie Fisher Renbarger, Chief Ethics and Compliance Officer of Dell; Nan Stout, Vice President Business Ethics of Staples; and Carole Stern Switzer, President of OCEG. Carole started off with two observations: Designing, implementing, and improving a governance, risk management and compliance (GRC) … Read more »