LexisNexis® Legal Newsroom
Sherlock Holmes and Innovation in the Compliance Function – Part IV, The Valley of Fear

Today I conclude my dual-themed week of blog posts featuring Conan Doyle’s four Sherlock Holmes novels and innovation in the compliance function. As the compliance profession matures and we move into what I call the era of CCO 2.0. Today we celebrate Doyle’s final novel, The Valley of Fear...

Bobby Keys, the Rolling Stones and Establishing Trust

Bobby Keys died last week. What you probably did not know was that Keys was a Texan so we get to claim him. He was the saxophonist for the Rolling Stones and a number of other serious rockers. As Bruce Weber wrote in his New York Times (NYT) obituary, entitled “ Bobby Keys, Hard-Living Saxophonist...

On Compliance Leadership: From Edward VIII to LeBron James

On this day in 1936 King Edward VIII became the first English monarch to voluntarily abdicate the throne. He chose to abdicate after the British government, public and the Church of England condemned his decision to marry the American divorcée Wallis Warfield Simpson. On the evening of December...

The Eve of Destruction and Tone at the Top – You Are Who Say You Are

In 1965 the single Eve of Destruction was released. It was written by an 18 year old named Phil Sloan and was sung by former member of the New Christie Minstrels named Barry McGuire. To top it off, it was produced by Lou Adler. These facts, the story of the song, its recording and release were related...

Craig Biggio to the Hall of Fame and Your Compliance Team

For those of you who do not believe that global warming is upon us, let me assure you that it is real and unfortunately caused by humans. How do I know this for a certainty? It is because there was an event back in 2005 that caused Hell itself to freeze over. I am of course referring to the first and...

The Darwin Awards, Nepotism and Compliance

I am a podcast aficionado. One of my favorites is Slate’s Hang Up and Listen , which is a weekly discussion of sports events and issues. One of its segments details each participant relating a whimsical event from the previous week. I thought about whimsy when I was studying Christopher Columbus...

Revisiting the Raven and Visiting Foreign Subsidiaries

Today we celebrate the birth of one of America’s most iconic authors, Edgar Allen Poe, who was born on this day in Boston, Massachusetts. Anyone who reads or watches a mystery show on television owes a debt to Poe for inventing the genre. Poe flunked out of West Point but later became an editor...

Good Bye to Mr. Cub, the Siege of Vienna and Doing More Compliance With Less

Let’s play two! That was perhaps the most famous maxim from Ernie Banks, who died this past weekend at the age of 83. As for a sobriquet, it does not get much better than being known as ‘Mr. Cub’ from any baseball fan from 9 to 90. Banks was famous as one of the greatest power-hitting...

Arsenale and Incentivizing Compliance

I continue with a Venice themed blog post today by focusing on the Arsenale . No this is not a precursor to that famous north London football club, the Arsenal Gunners, but the district in Venice where one of the main commercial enterprises of the city took place, that being ship building and ship repair...

Bone-Headed Moves on the Football Field and Idiotic Statements About Corruption

“ Three things can happen when you throw the football, and two of them are bad .” That football truism (allegedly) came from former Texas Longhorn head coach Darrell Royal. While he intoned it in a different era, Pete Carroll and his Seattle Seahawks proved it still to be valid in the...

Economic Downturns and Increased Compliance Risk

Oil is hovering around $50 per barrel. For most of the US economy this drop in oil price has provided a much-needed economic boost. One piece on the NPR website, entitled “ Oil Price Dip, Global Slowdown Create Crosscurrents For U.S .”, said “economists have suggested the big drop in...

New Coke and Technological Solutions as a Response to the Economic Downturn

Earlier this week, Donald R. Keough died. He was the leader of Coca-Cola, who pressed for and introduced the infamous New Coke to the world in 1985 and then the return of the original formula just 10 weeks later. Since I was not alive during the Ford Motor Company introduction of the Edsel, I have to...

Farewell to Mr. Spock and Risk Assessment Under COSO

Leonard Nimoy died last Friday. He will be forever associated with the role of Mr. Spock in the original Star Trek television show which premiered in 1966. The original series ran for only three years but had a full life in syndication up through this day. He also reprised the role in six movies featuring...

Taking the Rolls Out for a Spin? Maybe You Should Avoid Brazil

Just as the GlaxoSmithKline PLC (GSK) case in China heralded a new day in international anti-corruption enforcement, the Petrobras case may be equally important going forward. The scope and breadth of the investigation is truly becoming worldwide. Last fall, one of the first questions raised was why...

Responsibility, Accountability and the FCPA Institute in Houston

What is accountability in your compliance program? How does it relate to responsibility for a company to prevent, detect and remediate any issues that might arise under a Foreign Corrupt Practices (FCPA) compliance program? What if a company is so big that it cannot provide meaningful oversight of its...

Do Your Executives Have (Compensation) Skin in the Game?

This year marks the 150 th anniversary of the ascent of the most famous mountain in Europe, the Matterhorn. On Bastille Day, in 1865, four British climbers and three guides were the first climbers to reach the summit. In an article in the Financial Times (FT), entitled “ In Whymper’s steps...

Supply Chain as a Source of Compliance Innovation

On Wednesday we celebrated the greatest upset in the history of the NCAA Basketball Tournament, when Villanova beat Georgetown for the 1985 national championship. Georgetown was the defending national champion and had beaten Villanova at each of their regular season meetings. In the final the Wildcats...

Rolling Stone’s Rape Story Retraction: Lessons for the Compliance Practitioner

There are only a very few magazine articles that have radically affected me when I read them. Nick Hornby’s account of a group of soccer hooligans, where he chronicled when they traveled to and briefly took over the Italian city of Turin in 1982; Jack McCallum who profiled Jerry Sandusky after...

Brazilian Corruption Scandal Expands Past Petrobras – Is a FCPA Country Sweep Next?

The Brazilian corruption scandal took a new turn last week, when the Brazilian government announced that it was investigating the country’s health ministry and the state-owned bank Caixa Econômica Federal (Caixa). As reported by Rogerio Jelmayer and Luciana Magalhaes in the Wall Street Journal...

Five Step Process for Transaction and Continuous Controls Monitoring

Most Chief Compliance Officers (CCOs) and compliance practitioners understand the need for transaction monitoring. Whether it be as a part of your overall monitoring of third parties, employees, or to test the overall effectiveness of internal controls and compliance, transaction monitoring is clearly...

The Easter Rebellion and Petrobras’ $17 Billion Write Down

Ninety-nine years ago Friday the Easter Rebellion began. If there is one event that is seared into history as a turning point for Irish independence from Britain, it was the Easter Rebellion. England had finally granted Home Rule to Ireland in 1914 but suspended implementation due to World War I. This...

King Arthur Week – the Pentecostal Oath and Code of Conduct – Part II

One thing for which King Arthur is remembered are his chivalric knights. He helped create this legend, in large part, by establishing a Code of Conduct for the Knights of the Round Table. The King required each one of them to swear an oath, called the Pentecostal Oath , which was Arthur’s ideal...

King Arthur Week – The Green Knight and the Protection of Whistleblowers – Part IV

We continue our King Arthur themed week with an exploration of one of the most interesting characters in the Arthur canon, The Green Knight , so called because his skin and clothes are green. The meaning of his greenness has puzzled scholars since the discovery of the poem, that identifies him as the...

King Arthur Week – The Quest for the Holy Grail and Compliance Defense – Part V

We conclude our Arthurian themed week with the Holy Grail, which has fired the imagination of artists for millennia. What was the Holy Grail? According to Professor Dorsey Armstrong in her Teaching Company lecture series, entitled “ King Arthur: History and Legend ”, the Holy Grail has taken...

A CCO Job Function: Managing Talent

Garo Yepremian died this past week. For anyone who grew up watching National Football League (NFL) games in the late 1960s or 1970s; this was a name quite familiar to you even if you had trouble pronouncing it. Yepremian was a left-footed field goal kicker who went from the heights of glory such as once...