In the wake of the SEC’s dual release of Regulation Best Interest (“Reg BI”) for broker-dealers and its Interpretation of Standards of Conduct for investment advisers (“RIAs”), this is an opportunity to consider the efficiency and impact of compliance controls. For instance, are programs designed to quickly detect and prevent conflicts of interest (“COI”) that […]
Federal, state and industry regulators mandate the timely and comprehensive execution of compliance risk assessments and conflicts of interest (COI) inventories. Naturally, compliance-minded professionals focus on performing due diligence and analysis of new laws and regulations these reports require. Yet merely presenting the risks, for instance, that a new global initiative or marketing campaign poses […]
A Compliance ROI is the foundational component of Compliance as a Competitive Advantage, and like any new initiative, it requires a shift in perspective and focus. It requires a shift in emphasis away from one-day-at-a-time responsiveness towards building sustainable processes that also contribute to the business bottom-line. Federal authorities already recognize this value. The U.S. […]
Looking ahead to June, compliance officers have a golden opportunity to shift organizational perspectives with a mid-year review. After compliance officers chronicle lessons learned from prior successes and mistakes, they can also upgrade their programs and advise business on strategy, progress and any shifts in resources needed. For example, compliance officers should consider client complaints, […]
“A foolish consistency is the hobgoblin of little minds,” Ralph Waldo Emerson Q: In your opinion, what are the most important skills a new CCO or compliance officer should master? A: Above all, compliance officers are well-served if they remember that the control environment should be aligned with the business environment and both should develop […]
Tell me and I forget; teach me and I may remember; involve me and I learn – Benjamin Franklin Compliance officers once relied on static PowerPoints and email reminders for their training materials. However, the employees they need to reach now receive information through a variety of multimedia, from videos to VR. Trainers should effectively […]
The quantifiable value of Sustainable Governance continues to manifest in all organizations where it is implemented. Increasingly, businesses, investors and individual clients assess businesses based on corporate compliance and governance that promote reliable and sound business judgment and results. Recently, the Global Impact Investing Network estimated $502 billion assets under management for impact investment. Through […]
Q: How can I develop leadership skills when so much of my work is dependent on others? A: Think of yourself as a change agent, first and foremost. Motivating people towards Sustainable Governance takes persuasion, empathy and a keen ability to unite people towards a common purpose. For particular members in your organization, this version […]
To protect your information or your money, you don’t just rely on one source. Instead, most of us use multiple tiers of security for the job, such as personal/private computers and software, keys, passwords, banks and law enforcement if needed. Likewise, as both corporate officers seek to protect their businesses’ reputation and compliance officers seek […]
An effective, systemically efficient compliance program can offer a competitive advantage for a company by helping it deliver better financial results. This principle lies at the core of the evolving megatrends of ESG investing and sustainability programs at multinational corporations. Recently, by way of example, Blackrock and State Street Global Advisors’ annual letters to portfolio […]