CEP Magazine

  1. Meet Peter C. Anderson: Righting the compliance ship

    CEP Magazine - September 2020  | Author: Adam Turteltaub  | September 2020 

    AT: Do you have an overarching philosophy or mindset toward compliance?...

  2. Sharpen M&A with compliance and ethics due diligence

    CEP Magazine - September 2020  | Author: Rebecca Rohr, Esq., CCEP, CCEP-I  | September 2020 

    Companies that are evaluating targets for mergers and acquisitions (M&A) should include compliance and ethics in their due diligence—but these issues are sometimes overlooked in the fast pace of the deal. Compliance and ethics professionals can make a convincing case to their colleagues handling the M&A deal to ensure that diligence on a target company includes legal and regulatory compliance and the company’s culture of ethics. Such M&A diligence is even more important in light of compliance challenges due to the coronavirus pandemic...

  3. Organize your data today for smooth and lucrative mergers tomorrow

    CEP Magazine - September 2020  | Author: Vishal Sunak  | September 2020 

    Since the Department of Justice released its Evaluation of Corporate Compliance Programs,[1] many experts have addressed the importance of adequate compliance-based due diligence throughout the mergers and acquisition (M&A) process...

  4. 'Making the numbers': How compliance can boost ethical sales behavior

    CEP Magazine - September 2020  | Author: Ken Kluvo  | September 2020 

    In today’s ultra-competitive business environment, organizations and their frontline sales teams are seeking every advantage possible to drive profitable revenue growth. But this can create challenges and internal friction points that will lead to unethical and sometime unlawful behaviors. Since an organization’s sales professionals are typically the face of the company to the outside world, what can an organization’s leadership do to ensure an environment and culture are in place to produce highly ethical behaviors on the part of their sales team?...

  5. Make compliance risk assessment your program's foundation

    CEP Magazine - September 2020  | Author: Matthew Tuchow  | September 2020 

    I have yet to hear of an organization with unlimited resources to devote to compliance. To determine where to focus those limited resources, a risk assessment is a great tool. Risk assessment is a critical element of an effective compliance program, and in many ways, it should serve as its foundation. It helps an organization make an educated decision on which risks to prioritize given the reality that not all risks can be mitigated; even the top risks cannot be mitigated at the same pace...

  6. Global compliance at a glance: Spain 2020

    CEP Magazine - September 2020  | Author: Murray Grainger  | September 2020 

    In 2019, Spain’s GDP was $1,394 billion, representing 1.16% of the world economy, and the per capita GDP was $33,349.70, equal to 264% of the global average.[1]...

  7. But will it be enforced?

    CEP Magazine - September 2020  | Author: Gerry Zack  | September 2020 

    Please feel free to contact me anytime to share your thoughts...

  8. Lessons from the time of COVID

    CEP Magazine - September 2020  | Author: Sally March  | September 2020 

    As ethics and compliance professionals, we may be challenged on the relationship between culture and compliance. Culture and trust are essential to an effective compliance program. This has never been more important than in these challenging times...

  9. Progress has been made in Brazil, but questions remain

    CEP Magazine - September 2020  | Author: Shin Jae Kim  | September 2020 

    Brazil has experienced a significant growth in self-reporting and cooperation in the anticorruption arena over the last few years...

  10. When is direct marketing 'fair' in the EU?

    CEP Magazine - September 2020  | Author: Robert Bond  | September 2020 

    Under the European Union (EU) General Data Protection Regulation (GDPR),[1] you must process personal data in a fair manner, which means that you must not send direct marketing to individuals who are unlikely to expect it or where it is misleading or detrimental to the rights of the individual. This seems easy to interpret, but it isn’t! Not only does the GDPR apply, but so does the ePrivacy Directive[2] and its interpretation in each EU member state. My comments below are a general overview...

  11. Learn more about professional skills at the 2020 CEI

    CEP Magazine - September 2020  | Author: Walter E. Johnson  | September 2020 

    Author’s expressed views are his own and do not necessarily represent the views of Inova and UMGC...

  12. On the crucial skill of managing expectations

    CEP Magazine - September 2020  | Author: Kristy Grant-Hart  | September 2020 

    I recently read, “Happiness is managing expectations.” With so many pressures in our daily lives, it’s easy to become overwhelmed. One of the best ways to navigate stress and anxiety is to manage expectations—your own and those of others...

  13. Reporting to the board: Is materiality the standard?

    CEP Magazine - September 2020  | Author: Joe Murphy  | September 2020 

    One important question in any compliance program is what to report to the board. Some would suggest the standard is materiality—a concept that is at home with securities lawyers and auditors dealing with issues relating to public and Securities and Exchange Commission disclosures...

  14. If you can't protect data, don't collect data

    CEP Magazine - September 2020  | Author: Dean Gonsowski  | September 2020 

    “There are only two types of companies: those that have been breached and those that don’t know they have.” - Elena Kvochko and Rajiv Pant, Harvard Business Review.[1]...

  15. Be heard! Getting the top to deliver your message

    CEP Magazine - September 2020  | Author: Amii Barnard-Bahn  | September 2020 

    On a good day, it can be challenging to get leaders to speak with a unified voice around doing the right thing—in other words, running an ethical business that is productively serving its customers, shareholders, and employees. In times like these, when world events like a global pandemic and racial injustice are on everyone’s mind, it is anything but business as usual. In a crisis, organizations may have a tendency to fall into fear-based decision-making and make a push for profit at all costs, which can lead to brand damage, low morale, key talent departures, and regulatory enforcement when business...

  16. Transparency keeps compliance and ethics trending

    CEP Magazine - September 2020  | Author: Sean Freidlin  | September 2020 

    The purpose of corporate ethics and compliance has been on my mind a lot recently. After reflecting on it for weeks, the most straightforward, fundamental answer that I could come up with doesn’t focus explicitly on integrity, culture, values, or risk. To me, ethics and compliance professionals exist to be a net positive in their office, organization, and industry; to give more than they take; and to be proactively conscious of their team’s corporate footprint. I know that ethics and compliance are not always a shared responsibility; they are different sides of the same coin, yin and yang, intrinsically connected...

  17. The 'data era' is revealing gaps in financial compliance technology

    CEP Magazine - September 2020  | Author: Yaron Hazan  | September 2020 

    Research shows that the use of technology in the business sector has two main purposes: (1) improving the efficiency of successful current processes by automation and (2) replacing or totally changing the methods used to significantly improve the performance of a process. Creation of such technology is also known as disruptive innovation (i.e., the introduction of a new method unlike old practices or a new product type). A well-known example for such evolvement is the way we consume music: vinyl albums and cassette tapes evolved to CDs, which then evolved to MP3s, and then to streaming on YouTube or music...

  18. Filipino central bank delays deployment of new risk assessment framework

    CEP Magazine - September 2020  | Author: Sascha Matuszak  | September 2020 

    The Filipino central bank, Bangko Sentral ng Pilipinas, deferred the deployment of a new compliance rating system for banks due to the disruption caused by the COVID-19 pandemic. The new compliance system replaces a less efficient rating system with a “more forward looking” one: the Supervisory Assessment Framework (SAFr)...

  19. Carmakers selling into EU market are failing to meet emissions goals

    CEP Magazine - September 2020  | Author: Sascha Matuszak  | September 2020 

    As new European Union targets for auto emissions are set to take force in 2020, the European Environment Agency released preliminary findings that suggest carmakers will be unable to meet the new goals...

  20. Novartis Greece and Alcon agree to pay $233 million to resolve FCPA investigation

    CEP Magazine - September 2020  | Author: Sascha Matuszak  | September 2020 

    The United States Department of Justice (DOJ) announced on June 25 that Novartis Hellas S.A.C.I. (Novartis Greece), a subsidiary of Novartis AG, and Alcon Pte Ltd, a former subsidiary of Novartis AG and current subsidiary of Alcon Inc., resolved an investigation into violations of the Foreign Corrupt Practices Act by agreeing to pay a substantial fine...

  21. Novartis pays $642 million to settle False Claims Act violations

    CEP Magazine - September 2020  | Author: Sascha Matuszak  | September 2020 

    Novartis Pharmaceuticals Corporation (Novartis), based in East Hanover, New Jersey, agreed to pay more than $642 million in fines for alleged use of foundations to make payments, and for paying kickbacks to doctors. The violations stem in part from thousands of meetings Novartis held that were ostensibly educational events featuring speakers but were in fact a front for paying off doctors to prescribe Novartis’ drugs...

  22. Meet Thomas Meiers: Volkswagen's commitment to change

    CEP Magazine - August 2020  | Author: Richard Bistrong  | August 2020 

    RB: The Volkswagen Group has gone through a disruptive scandal that shook the entire automotive industry. Volkswagen pleaded guilty for violating US environmental laws and other offenses. As part of several settlements with US authorities, Volkswagen has undertaken major efforts to enhance its compliance program. What is your specific role and responsibility?...

  23. Blockchain: Moving target or trusted tech trend? 

    CEP Magazine - August 2020  | Authors: Susan Dworak, Teri Quimby  | August 2020 

    Government often finds itself in the uncomfortable situation of applying old regulations to new ideas; it’s a regulator’s worst nightmare. Legal and regulatory umbrellas need to be flexible enough to expand with the passage of time, yet definitive enough to endure history in the making. For example, a decade ago the ideas of social media and apps were different than today. The idea of ordering a cup of coffee using an app, paying for it, and picking the product off the counter with your name on it—without talking to a single human being—seemed unimaginable. Enter disruptive blockchain-based solutions, which may...

  24. The CCPA and when privacy law overlooks internal compliance functions

    CEP Magazine - August 2020  | Author: Stuart L. Pardau  | August 2020 

    Experience informs us that it is not uncommon for different areas of law to conflict and sometimes produce unintended results. The intersection of privacy law and corporate compliance produces some disturbing examples in this regard...

  25. Blockchain and the GDPR: Can the conflicts be resolved?

    CEP Magazine - August 2020  | Author: Melanie Brown  | August 2020 

    Innovating processes, procedures, and performance can make a significant impact on compliance initiatives. By incorporating technology in a compliance program, a business can increase efficiency, applicability, reliability, and, overall, corporate responsibility. This article will explain the concept of “blockchain” and consider the implications of recent privacy law developments such as the European Union (EU) General Data Protection Regulation[1] (GDPR) on the use of blockchain technology...