Tag Archives: Compliance

A Corporate End-User’s Handbook for Dodd-Frank Title VII Compliance — The Harvard Law School Forum on Corporate Governance

Hey guys, check this out.  With the complexities involved in implementation of DODD-FRANK Act, we welcome a how-to “guide” .

Excerpt:  The following post comes to us from Geoffrey B. Goldman, partner focusing on derivatives and structured products at Shearman & Sterling LLP. This post is an abridged version of a Shearman & Sterling publication, titled A Corporate End-User’s Handbook for Dodd-Frank Title VII Compliance, available in full (including footnotes) here.

I. Introduction

Almost four years after the financial crisis and over two years after the passage of the Dodd-Frank Wall Street Reform and Consumer Protection Act (“Dodd-Frank”), the overhaul of the US derivatives market is rapidly shifting into the implementation phase. Many of the key elements of Dodd-Frank relating to OTC derivatives will begin to take effect on October 12, 2012, although the CFTC has delayed implementation of some requirements until the beginning of 2013.

Read full article and download full report via A Corporate End-User’s Handbook for Dodd-Frank Title VII Compliance — The Harvard Law School Forum on Corporate Governance and Financial Regulation.

Advertisements

Comments Off on A Corporate End-User’s Handbook for Dodd-Frank Title VII Compliance — The Harvard Law School Forum on Corporate Governance

Filed under Leadership, Operations & Innovation, Small Business

Pan-European Short Selling Regulation — The Harvard Law School Forum on Corporate Governance

Small business of-interest, need-to-know and news-to-watch.

Excerpt:  In this post we summarize the key aspects of the Regulation as well as the accompanying Implementing Regulation and the three Delegated Regulations which were published in the Official Journal on September 18, 2012, and which entered into force on September 19, 2012. As with the Regulation, save for certain provisions, the Implementing Regulation and Delegated Regulations will become directly effective on November 1, 2012. The suite of Implementing Regulation and Delegated Regulations set out the technical regulatory standards on the various subjects identified in the body of the Regulation — read together they form the overarching pan-European short selling regulatory framework. We have analyzed the short selling regulatory framework as it relates to shares and derivatives only. We have not extended our analysis to include sovereign debt or credit default swaps. This post also includes a list of measures that you may wish to incorporate and implement to ensure your firm’s compliance with the Regulation by November 1, 2012.

Read full article via Pan-European Short Selling Regulation — The Harvard Law School Forum on Corporate Governance and Financial Regulation.

1 Comment

Filed under Small Business

Performance.Learning.Productivity

Great points in this article.  Your obligations to compliance for your businesses’ sake and where that stops and today takes over — what is different in this scene today?   Leadership and management

Excerpt:  Compliance training undoubtedly works in one way. That is to ensure the right ‘boxes are ticked’ should something go awry. Rather as support for the ‘we followed orders’ defence. This is often the situation found in the wake of some non-compliant act that had led to an unwanted occurrence. The question as to whether the organisation has followed statutory or relevant professional body compliance training guidelines is often the first one raised. Organisations produce their records of compliance training to be used as part of the defence.

In other words compliance training is useful as a back-stop to help avoid financial sanctions and, at worst, the CEO or Chairman ending up in front of a jury and possibly in prison (in the past a number have). Sometimes this ‘defensive compliance’ strategy works. Increasingly it doesn’t.

But does it actually improve compliance and lower the number of non-compliant acts?

Read full article via Performance.Learning.Productivity.  From Charles Jennings

Comments Off on Performance.Learning.Productivity

Filed under Leadership, Operations & Innovation, Management

Social Media Compliance Isn’t Fun, But It’s Necessary – HBR

Even Goldman Sachs capitulated and twittered  —  good read and small business takeaways.

Excerpt: The good news is that implementing an effective social media compliance process isn’t rocket science. The combination of the right policy and the right technology can render even the most delicate of communications compliant.

Read full article via Social Media Compliance Isn’t Fun, But It’s Necessary – Ryan Holmes – Harvard Business Review.

1 Comment

Filed under Marketing, Branding, Sales, Advertising, eCommerce & Social Media, Small Business

Not-for-profit Governance: Rising to the Accountability Challenge

This is an interesting read, written with stats and opinion on Australian nonprofits, I believe the same picture emerges in other countries as well.  Small business good read.

Excerpt:  …. for charities that have broader remits, such as fighting world poverty or tackling the homeless problem, social impact is harder to gauge.

Hems says the problem lies in the lack of “market intelligence” and benchmarks for not-for-profit directors to follow. “Whether or not you are delivering on the social mission is incredibly complex to measure – there are no comparative metrics,” he says. For example, members of the board of a homeless charity would have little idea of performance, unless they examined the annual reports of similar charities and had access to evaluations of the programs they operate. “It is a huge measurement challenge – and sadly the focus for not-for-profit sector boards is still on the narrow measurements around financial sustainability and compliance,” says Hems.

Read full article via Not-for-profit Governance: Rising to the Accountability Challenge – Knowledge@Australian School of Business.

Comments Off on Not-for-profit Governance: Rising to the Accountability Challenge

Filed under Not for Profit, Small Business

How Privacy Breach Notification Law Affects Your Blog

Here is a great heads-up and reminder.  YOU do need to know and abide by the rules governing privacy.  In today’s online business environment, don’t get caught short of the knowledge you need and the compliance requirements.   Legal

Excerpt:  Do you run a web-based business and collect data about your customers? If so, do you have professional practices in place to ensure the protection of that information and the privacy of your customers? No? Then ask not for whom the bell tolls, as it tolls for you—Privacy Breach Notification Laws are here.

Before you scramble to fire off an email to your service provider to disable your ecommerce facilities or remove all forms from your blog, don’t. If you’re running a small site or a modest-sized mailing list and don’t collect any information on your visitors, then please don’t be alarmed.

However, irrespective of the scope of your online presence, please take a few minutes to get yourself up to date on what privacy breach notification laws are, and how they impact you.

Read full article via How Privacy Breach Notification Law Affects Your Blog : @ProBlogger.

Comments Off on How Privacy Breach Notification Law Affects Your Blog

Filed under Business Blog & Miscellaneous, Legal, Licenses & Insurance

Top Executives Say GRC Programs Must Better Align to Strategic Priorities to Meet Board Needs

Leadership and board of directors update from recent forum.  Small business takeaways.

Excerpt:  RSA, The Security Division of EMC (NYSE: EMC) released key findings from the RSA Archer GRC Executive Forum it hosted recently, where governance, risk and compliance (GRC) leaders from 34 leading corporations discussed enterprise risk management strategies and best practices.

Read full article via Press Release: Top Executives Say GRC Programs Must Better Align to Strategic Priorities to Meet Board Needs.  From EMC

Comments Off on Top Executives Say GRC Programs Must Better Align to Strategic Priorities to Meet Board Needs

Filed under Leadership, Operations & Innovation, Small Business

Cleaning up Corruption | PwC

Is your small business global or plans to be?  Then this falls into your need-to-know.  Compliance risks and prevention.

Excerpt: In the last several years, risks surrounding bribery and corruption have risen as prime concerns among business leaders and nations alike. The United States’ Foreign Corrupt Practices Act (“FCPA”), which to date has been the prime weapon in the global crackdown on corruption, continues to be a clarion call to multinational companies. And with countries like China, India, Russia and the U.K. strengthening their anti corruption laws, Multinational companies, now more than ever, need to be proactive in addressing their compliance risks and building related programs that can mitigate the risks that bribery and corruption raise.

Read introduction and download paper via Cleaning up corruption: PwC.

Comments Off on Cleaning up Corruption | PwC

Filed under Small Business

Deloitte | The Risk Intelligent Chief Compliance Officer | Governance and Risk Management

Good paper — today’s small business must be focused on the risk management needs….how-to best practices and cost effective.

Excerpt…………In today’s demanding regulatory environment, effective compliance risk management is a smart – indeed, and essential – business investment. At the same time, no company wants to spend more time, effort, or money on compliance than it “needs” to. How can leaders determine the company’s compliance risk management “needs” with enough confidence to understand where and how to allocate its compliance investments?

Read introduction and download paper here………via Deloitte | The Risk Intelligent Chief Compliance Officer | Governance and Risk Management.

Comments Off on Deloitte | The Risk Intelligent Chief Compliance Officer | Governance and Risk Management

Filed under Leadership, Operations & Innovation, Small Business

Identify Financial Risks with Audit Analytics

Risk management and a tool to help you identify the risk BEFORE it becomes a major issue…..  Leadership and management — good read

Excerpt……..In a previous article, we looked at how internal audit’s knowledge of data analysis technology could help the business to identify financial control risks, compliance failures and problems in business transactions. The vision for an increasing number of organizations is for the ongoing testing of entire sets of financial transactions against a comprehensive range of controls and compliance requirements.

The objective is not to inundate business and financial managers with masses of data on exceptions for investigation, but rather to provide valuable insights into trends and areas where control issues are becoming of significant concern – as well as to highlight high risk transactions and specific instances of fraud, error and abuse that need to be addressed.

Read full article…..via Identify Financial Risks with Audit Analytics | Business Finance.

Comments Off on Identify Financial Risks with Audit Analytics

Filed under Leadership, Operations & Innovation, Taxes & Audit

Top 10 Trends in Governance, Risk & Compliance (GRC)

Good read for small business owners ….governance, risk management and compliance are top priority in the leadership charter.

Excerpt……….It’s tough to identify 10 “game changers”, because some things are changing slowly. Here are my top events/trends:

Read full article……….via Top 10 Trends in Governance, Risk & Compliance (GRC) | Proformative.

Comments Off on Top 10 Trends in Governance, Risk & Compliance (GRC)

Filed under Leadership, Operations & Innovation, Small Business

Focus HR on Process Improvement – HBR

Human resources management and what their charter should include.

Excerpt…….Of course, like other corporate functions, HR needs to continue to do a good job at core administrative functions, and line managers won’t accept offers of more value-added services if those basics aren’t covered. And providing administrative services and ensuring HR policy compliance can be all-consuming and comfortable. It’s easier to take orders from line managers and be a good service organization or enforce HR policies than it is to be proactive and take risks helping with the people side of operational change. But HR will continue to miss opportunities to deliver value if its leaders won’t take some risks and drive the people side of operational change.

Read full article…….via Focus HR on Process Improvement – Brad Power – Harvard Business Review.

Comments Off on Focus HR on Process Improvement – HBR

Filed under Human Resources & Payroll, Management

White Collar and Regulatory Enforcement — The Harvard Law School Forum on Corporate Governance

Small business need-to-know.  Legal, compliance and governance.

Excerpt……The last ten years have seen a continuous increase in white collar criminal and regulatory enforcement activity. 2011 was no exception, and we expect the trend to continue in 2012.

While not an entirely new phenomenon, the world of white collar and regulatory enforcement appears more politicized than ever

Read full article….via White Collar and Regulatory Enforcement — The Harvard Law School Forum on Corporate Governance and Financial Regulation.

Comments Off on White Collar and Regulatory Enforcement — The Harvard Law School Forum on Corporate Governance

Filed under Leadership, Operations & Innovation, Legal, Licenses & Insurance

How The SBA Can Better Serve The Other 29,353,039 Small Businesses

A reality check …author’s opinion shared by many…..  small businesses trying to do business with the government are frequently buried in the cost and time of compliance.

Excerpt……..The reason why my heart sank is because whenever I hear of a potential for doing business with the government I have to turn down the business. The paperwork, the certifications, the bidding, the bureaucracy…for a small business who’s not familiar with the system it’s almost impossible. I’m not alone. Most of my clients hate working with the government. Any government. I had to turn down this opportunity because frankly, I’d have more luck doing business with the Justice League than the Department of Justice. Other than the constant splashing from Aquaman, it’s just easier.

Read full article…..via Gene Marks: How The SBA Can Better Serve The Other 29,353,039 Small Businesses.  From HuffPost

1 Comment

Filed under Small Business

Internal Investigations Fraud Compliance Failure

More on legal obligations and compliance…. in this article insert outsourced legal assistance if your small business does not have inhouse cousel……. good read and important need-to-know for all small business owners.

Excerpt……It’s every CFO’s worst nightmare: despite your best efforts, your company’s compliance program has failed. There are credible reports of fraud and corruption inside the company, and an initial analysis of the situation confirms a problem. An internal investigation is necessary to determine the magnitude of the fraud, the parties involved, and the company’s financial and reputational exposure under government regulations.

How should you proceed? These investigations are often high stakes, so it is important to do things the right way from the start. In-house counsel should be involved in any situation involving allegations or evidence of fraud. Once executives have sufficient reason to believe the allegations are credible, they should involve outside counsel as well.

Read full article….via Internal Investigations Fraud Compliance Failure.  From CFO.com

Comments Off on Internal Investigations Fraud Compliance Failure

Filed under Legal, Licenses & Insurance, Small Business