According to a new, and well researched report from ECI, there are five core purposes behind any really effective compliance program, regardless of the industry sector. These purposes are “beyond compliance”, that is they are not confined to a mere “tick box” approach. Ensure the organisation sustains its integrity and […]
What’s another €94m fine between friends? The latest penalties on several banks for fiddling interest rates by running a cartel, is hardly the stuff of headlines. J.P. Morgan, no paragon of ethical performance in recent years, must pay €61m for crooked behaviour involving Libor, from 2008-9. Yet can you envisage the […]
By Brooke Patterson[spacer height=”20px”] “Tax evasion was the biggest mistake of my life” said Uli Hoeness, one-time president and business chairman of Bayern Munich, the club he made into one of the world’s most-successful football dynasties. Earlier this year the contrite German boss said he would accept a three-and-a-half-year […]
Anyone learning Chinese soon encounters the classic tale of Zhang Guiya a county magistrate patrolling government buildings.[spacer height=”20px”] He meets a minor official rapidly leaving the money vault.[spacer height=”20px”] “Why are you in such a hurry” asks the magistrate who subsequently finds a valuable metal piece hidden in the man’s head […]
Should a company go beyond compliance? Is there any point in doing more than meeting basic regulatory requirements? The latest White Paper from US growth specialists Frost and Sullivan looks at how practices that go beyond compliance can drive company value. The paper’s broad conclusions apply to any organisation wondering whether […]
Misleading customers can be an expensive luxury. In 2013 for example, fines for swindling their customers cost Npower nearly £4 million in 2013, Scottish Power £8.5m, Tesco £300,000, AXA £1.8million. This month, March 2014, Toyota admitted misleading customers and agreed a huge $1.2 Billion criminal fine. Also this month in […]
No wonder so many recent pictures of J.P. Morgan’s CEO show him looking smug. Must be nice knowing you’re worth a salary of $20 million? [1] But this cash waterfall is unethical. No so, argues the normally sane and responsible Warren E. Buffett of Berkshire Hathaway I think he’s worth more than […]
Naturally the fear of big business of punishment remains well-hidden from public view. Senior insiders seldom admit to anxiety yet it is there. Where next, they wonder, will the boot land for breaking rules; miss-selling, or other bad bit of behaviour far down the hierarchy? Quite simply: “how can we […]
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