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 »
Year: 2009
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 »
Vetting Business Partners
My notes, live, from Vetting Business Partners, with Alexandra Wrage of Trace International to talk about how leading companies have approached this challenge in a global company. Due diligence on business partners is one of the most important things a company can do, but also one of the least interesting things. She points out that … Read more »
Luis Aguilar Keynote at Compliance Week Conference
My notes, live, from the keynote by SEC Commissioner Luis A. Aguilar: James Doty of Baker Botts introduced the Commissioner. (A disclaimer from the Commissioner: the speech is his opinion alone and not necessarily the view of the SEC.) The Commissioner titled his presentation “Reversing Course: Putting Investors First.” The focus should be on protecting … Read more »
Off To Washington
The rest of my week will be spent at the annual Compliance Week Conference in Washington, D.C. As I have done with past conferences, I plan to live-blog from open conference sessions. Essentially, I will be sharing my notes with you. (Assuming I have a steady internet connection and power supply.) Read more »