How did one company and one CCO actively use social media to make the company’s compliance culture more effective? The company was Dun & Bradstreet, Inc. (D&B), and its then-CCO, Louis Sapirman, discussed D&B’s integration of social media into compliance with me.
As we advance, these tools can go a long way toward enhancing your compliance program. Recall the declination to prosecute Morgan Stanley received from the DOJ when one of its managing directors had engaged in FCPA violations. One of the See more +
How did one company and one CCO actively use social media to make the company’s compliance culture more effective? The company was Dun & Bradstreet, Inc. (D&B), and its then-CCO, Louis Sapirman, discussed D&B’s integration of social media into compliance with me.
As we advance, these tools can go a long way toward enhancing your compliance program. Recall the declination to prosecute Morgan Stanley received from the DOJ when one of its managing directors had engaged in FCPA violations. One of the reasons cited by the DOJ was 35 email compliance reminders sent over seven years, bolsters the annual FCPA training the recalcitrant managing director received. You can use your archived social media communications as evidence that you have continually communicated your company’s expectations around compliance. It is equally important that these expectations are documented.
Finally, always remember the social part of social media. Social media is a two-way communication. Not only are you setting out expectations, but also, these tools allow you to receive back communications from your employees. The D&B experience around the name change for its Code of Conduct is but one example. If you have several concerns expressed, it could alert you earlier to begin some detection and move toward prevention in your compliance program.
Three key takeaways:
1. How do 360 degrees of communication work in compliance?
2. Focus on the ‘social’ part of social media.
3. Use internal corporate social media to have a conversation.
For more information, check The Compliance Handbook, 3rd Edition available here: https://bit.ly/3p0kSfO. See less -
