Compliance programs are about protecting the company!
Given the growing environment of data breaches and corruption scandals, here and abroad, it’s easy to lose track of what’s most important in compliance: the people.
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Given the growing environment of data breaches and corruption scandals, here and abroad, it’s easy to lose track of what’s most important in compliance: the people.
AN anti-corruption collective action involves a coordinated and sustained effort from business and other stakeholders to jointly tackle shared corruption challenges, particularly systemic corruption, where it is difficult for one company to engender long-term change on its own.
You have? Great!!
The tech companies’ innovation rhetoric effectively blinded us for many years. Facebook and Google were regarded as innovative companies that made dreadful mistakes at the expense of our privacy. However, since then the picture has sharpened.
International bribery is one of the many ways in which corruption heavily impacts sustainable development and economic growth. It hinders fair access to markets, as well as progress on today’s most pressing issues like education, health care, gender equality and the climate crisis.
FOLLOWING the successful EITSC Advocacy Forum on “Sustainable Development,” I would like to quote Harvard Prof. Dani Rodrik who said the other day: “The world economy must again serve the people and not vice versa.” He added: “The world economy has lost its anchor as we subordinate the goals of full employment and fair income distribution [or inclusive growth] more and more to the needs of large investors; we need to regain flexibility in achieving the economic and social targets.”
“The world is facing a reset button in how it conducts business,” according to Straits Interactive Chief Executive Officer and Founder Kevin Shepherdson.
Regulators around the world continue to expand their focus on enforcing anti-corruption, data privacy and environmental laws.
Sustainable development or a sustainability culture seems to be taking root. There are quite a number of companies in the Philippines that are subscribing to sustainability, focusing on both—profit and purpose.
After one year of enforcement of the General Data Protection Regulation (GDPR), businesses can learn much from how the provisions of the regulation have been applied and how organizations have been fined.
Almost two-thirds of the world’s population—some 4.7 billion people—live in a country represented at the annual G-20 summit, which this year takes place in Osaka, Japan, on June 28 and 29.
Why do companies have to create and implement anti-corruption policies and procedures? The answer is easy: to meet the legal compliance obligations and mitigate corruption risks. Corruption creates potential criminal, civil and business consequences. Implementing adequate procedures can help manage these risks while creating a competitive business advantage.
It is essential to understand that the implementation of sustainable development is not limited to the government. Inclusive growth has to be a joint commitment of business, civil society, international and local donor organizations, and—the national and local governments.
Most companies lack the experience and resources needed to manage the plethora of security, privacy and compliance issues inherent in a growing technology-based business. Nevertheless, the legal and business implications of poorly managed privacy and data-security practices are too important to ignore. A single error can undermine the trust of investors and customers, attract unwanted regulatory attention or litigation. Here are eight common privacy and data-security mistakes that you must avoid:
The European Parliament finally voted on April 16, 2019, to approve groundbreaking legislation that will harmonize and strengthen whistle-blower protections across the European Unions (EU) member-states.
AS the adoption of compliance automation continues to grow, it has become a best practice for compliance officers to leverage the latest technology within their programs.
Some organizations have made fundamental shifts to redesign their operations behind sustainable principles. These are sustainability leaders. For most organizations, however, efforts have tended to stall out after the easy work of reducing energy and waste.
By Henry J. Schumacher
WE all know that managing compliance risks can seem like a daunting task. In fact, a survey of compliance officers published by Nasdaq in late 2018 found that 55 percent of respondents named fully understanding regulation and how it impacts their business as their top concern for the next 12 months. In order to manage compliance risks, it is crucial that you take a systematic approach to identifying, mitigating and reviewing the compliance risks your business faces on an ongoing basis. Here are the six essential tips to take into account when evaluating your approach to compliance risk management.
History was made in the EU this week when the European Parliament and EU Council agreed a groundbreaking piece of legislation that will help protect whistle-blowers around Europe.
By Henry J. Schumacher
I added that in the Philippines, the Securities and Exchange Commission (SEC) has issued the sustainability reporting guidelines for publicly listed companies. The guidelines are intended to help PLCs access and manage nonfinancial performance across economic, environmental and social aspects of their organizations, and enable PLCs to measure and monitor their contributions toward achieving universal targets of sustainability such as the United Nations Sustainable Development Goals, as well as national policies and programs.
IN recent years, a growing number of companies around the world have voluntarily adopted and implemented a broad range of sustainability practices.
IT’S hard to read media without running into a new story about different kinds of corruption, collusion and rule breaking. Whether or not the stories we read are true, organizations caught up in them often lose credibility.
When we had a dialogue with the chairman and the Commissioners of the Philippine Competition Commission (PCC) to discuss areas where cooperation with the private sector makes sense in achieving the “level playing field,” we all agreed that a level playing field involves besides fair competition, anti-corruption, a fair taxation regime, data privacy protection and cyber security. It became obvious that compliance officers/security managers will play an increasingly important role in business and the government as we move forward.
Over 59,000 data-breach notifications have been reported across the European Economic Area by public and private organizations since the General Data Protection Regulation (GDPR) came into force on May 25, 2018, according to the DLA Piper’s GDPR Data Breach survey.
The Integrity Initiative launched an Integrity Pledge in 2011. We then believed that corruption has been one of the biggest impediments to economic growth and prosperity in the Philippines and has been eroding the moral fiber of this society.
In 21 lessons for the 21st century, Yuval Noah Harari explains:
For years the Integrity Initiative has tried to create Integrity Nation, a nation where transparency and integrity rule, and where corruption is no longer part of everybody’s life. Have we succeeded? Not yet. One day we claim: Corruption is dead! And then we realize: Long live corruption!
Corruption flourishes when someone has quasi monopoly power over a product or service and has discretion to decide how much to receive, and where accountability and transparency are weak. So, to fight corruption we—and that includes all of us—must reduce market dominance, reduce discretion and increase accountability in many ways.
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