News & Analysis as of

Corporate Culture

What Lies Beneath: The Cultural Iceberg Effect in Negotiation in Latin America

by Zelle LLP on

American anthropologist Edward Hall has compared culture to an iceberg. While a few aspects are visible above the surface, a larger portion lays hidden below, with deep-seated assumptions and social beliefs which comprise the...more

Suggested Questions for the Compliance Officer

by Ruder Ware on

In a previous blog post, I promised to release a list of questions a Board of Directors (Board) might ask its compliance officer. This post is intended to fulfill that promise. My intent is to help Board members exercise...more

Corporate Culture and Whistleblowers: A Reliable Barometer of a Company’s Culture

by Michael Volkov on

If you want a reliable indication of a company’s culture, just look at how the company treats employee concerns and whistleblowers. Recent events have highlighted serious failures on the part of major companies to address...more

The Risk Management Process in Compliance

by Thomas Fox on

An exploration of risk forecasting, risk assessment and risk-based monitoring for the compliance profession. ...more

United’s Crisis Mismanagement and Corporate Culture

by Michael Volkov on

We were all aghast at the spectacle on the United Airlines last week when a customer was dragged off a plane when he refused to give up his seat because of an overbooking. No one can underestimate the power of real-time video...more

Farewell to J. Geils – Final Compliance Function Lessons from Wells Fargo

by Thomas Fox on

You may not recognize the full name, John Warren Geils Jr., but you probably do recognize the name J. Geils, as in the J. Geils Band, who died this week. J. Geils was ubiquitous in the 70s and early 80s with, as noted by an...more

Corporate Law & Governance Update - April 2017

by McDermott Will & Emery on

The following developments from the past month offer guidance on corporate law and governance law as they may be applied to nonprofit health care organizations: OVERSIGHT OF CORPORATE CULTURE - A significant emerging...more

Your Daily Dose of Financial News

by Robins Kaplan LLP on

One might think that Tesla shareholders would be thrilled with yesterday’s news that Elon’s car-making arm has surpassed even GM in market value. True, perhaps, but only to a point. Turns out that Tesla’s recent surge has...more

Sunshine Superman – When Culture is Not My Problem

by Thomas Fox on

Today we honor folk-rocker Donovan and his signature song Sunshine Superman, which was profiled in the Wall Street Journal (WSJ) column Anatomy of a Song. The song was a love paean by the singer to “Linda Lawrence, his love...more

Wells Fargo’s Desperate Need for a Compliance and Business Ethics Function (Part III of III)

by Michael Volkov on

While reading the independent directors’ report on the Wells Fargo sales incentives scandal, you will be overwhelmed by the feeling of frustration. At the same time, what is described in the report is the extent to which...more

United Airlines Fiasco – Service Recovery Matters

by Timothy Corcoran on

I’m a million-miler (now almost 2 million) and lifetime elite flier of United Airlines, though much of that was accrued on pre-merger Continental Airlines. I fly every week and rarely get thrown by travel hassles, and I’ve...more

Your Daily Dose of Financial News

by Robins Kaplan LLP on

Wells Fargo’s board not only issued a massive report on its fake account scandal yesterday. It also announced that the bank would claw back an additional $75 million from former CEO John Stumpf and former head of community...more

Hotel California and Wells Fargo-You Can Check Out, But Can You Leave?

by Thomas Fox on

Today, we celebrate The Eagles most famous song, Hotel California. It all started with a Don Felder cord progression and according to the Financial Times (FT) column The Life of a Song, it had a “fusion of Hispanic melody and...more

The Axe Falls on Wells Fargo – A Scathing Independent Report (Part II of III)

by Michael Volkov on

In a scathing report, the independent directors at Wells Fargo released their findings and actions based on a comprehensive internal investigation of Wells Fargo’s sales abuses. Based on its findings, Wells Fargo’s...more

Permissive Cultures Make Training a Scapegoat rather than a Competitive Advantage

by NAVEX Global on

Thanks to the onslaught of digital tools available to us today, primarily social media, we are getting a glimpse behind the curtain at a lot of companies. Employees are freely commenting on their employers, and the missteps...more

Can Wells Fargo Fix its Defective Culture? (Part I of III)

by Michael Volkov on

The more you learn about Wells Fargo’s culture problems, the more difficult the problems become. But you have to start somewhere, and assuming that Wells Fargo really is committed to addressing the serious problems they face,...more

Business Litigation Report - March 2017

Culture: Meeting Regulatory Expectations - Recent scandals in the corporate and financial spheres have served to highlight the importance of a strong and well-embedded institutional culture. It is difficult to pinpoint...more

Code of Conduct Week: Part IV – Training on Your Code of Conduct

by Thomas Fox on

Today focus in the Code of Conduct series is on the aspect of training on your finalized Code of Conduct. Eric Morehead, Principal of Morehead Compliance Consulting, joins me in this series. While there have been criticisms...more

A Money Laundering Nightmare: Western Union Ponies Up $770 Million to Settle with DOJ, FTC and FinCEN

by Michael Volkov on

Earlier this year, in January 2017, Western Union entered into a Deferred Prosecution Agreement with the Justice Department and the FTC, and agreed to pay $586 in forfeiture to settle anti-money laundering and consumer fraud...more

Code of Conduct Week: Part III – Design of Your Code of Conduct

by Thomas Fox on

Today I continue my Code of Conduct exploration with Eric Morehead, Principal of Morehead Compliance Consulting. After having reviewed the legal requirement and business purpose in Part I, the structure and form of your Code...more

Lessons on Culture and Trust from Military Strategy

by NAVEX Global on

Last month we introduced an occasional series of posts about organizational trust: what it is, how it helps a business succeed, why trust is declining these days, and how companies can nurture a rigorous ethical culture based...more

FDIC Chairman: A “Culture of Compliance” Begins at the Top

by Ballard Spahr LLP on

In his remarks during last week’s launch of Case Western Reserve School of Law’s Financial Integrity Institute, FDIC Chairman Martin J. Gruenberg spoke on the historical context of today’s BSA/AML regulatory framework and the...more

Culture: Meeting Regulatory Expectations - March 2017

Recent scandals in the corporate and financial spheres have served to highlight the importance of a strong and well-embedded institutional culture. It is difficult to pinpoint any such scandal that was not, to a material...more

Will Culture Change at Uber Before It’s Too Late?

by Thomas Fox on

What happens when a company delivers a superior product or service which is enthusiastically embraced by the consuming public, has a contented, if not equally enthusiastic, public facing work force and the business itself...more

The Five Levels of Building an Ethical Culture

How to build and sustain an organization whose employees are happy, motivated, and ethical remains one of the most complex, elusive questions confronting business leaders. Organizational culture is determined by the...more

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