Four Key Board Responsibilities for Monitoring Risk and Compliance


Introduction: High Pressure Regulatory Environment -

Now more than ever, there is increased regulatory pressure on organizations – and their Boards of Directors – to create and maintain effective ethics and compliance programs.

• In 2012, the Department of Justice collected $13.1 billion in criminal and civil actions

• The amount collected in 2012 was more than double the amount collected in 2011

• In 2012, corporate fraud prosecutions resulted in a 91% conviction rate

- What’s more, antitrust/competition prosecutions are on the rise, product safety and quality issues are increasingly viewed as ethics and compliance issues, business partners and supply chains are under scrutiny with such laws as the California Transparency in Supply Chains Act, the DOJ is focusing on insider trading, U.S. FCPA prosecutions are increasing, the UK has enacted the Bribery Act, and the Dodd-Frank Act requires sound ‘speak up’ programs and establishes an SEC Whistleblower Program.

What is the net effect on the Board? CEOs and Board members are increasingly under the microscope – and under pressure to uphold both compliance and ethics oversight and company leadership responsibilities.

Please see full publication below for more information.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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