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Daily Compliance News

October 18, 2019- the CITGO sign edition

In today’s edition of Daily Compliance News:

  • Aramco IPO delayed yet again. (WSJ)
  • Swiss trade fined for bribe payments to DRC leaders? (Bloomberg)
  • When will the CITGO sign go down? (NYT)
  • FASB delays implementation of new accounting standards. (WSJ)
Categories
FCPA Compliance Report

Why Culture Matters-Episode 4, How Does a Company Assess its Culture?

Welcome to this special five-part podcast series with Jay Rosen, VP of Business Development for Affiliated Monitors, Inc. (AMI), who is the sponsor of this podcast series. Corporate culture exists in the space between what an organization professes and what it does. In this series Jay and I will be exploring key aspects of corporate culture, including why it matters, what influences culture, the CCOs role in culture, assessing corporate culture and how to use that information to improve culture. In this Part IV, we consider how to assess your corporate culture. 
Highlights include:

  • Who should perform the assessment of corporate culture?
  • An in-house resource may be seen as more ongoing monitoring than culture assessment.
  • Conversely an independent outside expert may be able to garner more fulsome information of the true state of your corporate culture.
  • Tools to assess the culture of an organization include employee surveys, conversations, visits to field operations.
  • What are the differences, if any, which must be considered when assessing a global company?
  • Why do you need to “fine-tune” a cultural survey to get a good understanding of the company’s culture and obtain meaningful metrics?
  • The bottom line is you should take the temperature of your employees internally by doing regular monitoring of your company to understand its culture and what needs to be done.

Please join us for our concluding Episode 5, where we bring it all together and consider how ethical culture is a part of an overall ethics and compliance assessment.
For more information see Jay’s blog post How does a company assess its culture? on Corporate Compliance Insights.
For more information on Affiliated Monitors, Inc. check out their website here.

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12 O’Clock High-a podcast on business leadership

Leadership Lessons from the Mississippi Bubble of 1720

I recently listened to the Great Courses series of lectures, entitled Crashes and Crisis: Lessons form a History of Financial Disasters, hosted by Professor Connel Fullenkamp. Although the lecture series focused on economic disasters, I found many leadership lessons embedded in the lecture. In prior podcasts, host Richard Lummis and myself have considered the Dutch Tulip Bubble from the 1630s and the South Sea Bubble of 1720. Today we consider the leadership lessons and failures which led to the Mississippi Bubble of 1720.  The Mississippi Bubble has nothing to do with the state of Mississippi or the great river but rather a French trading company which had been granted an exclusive charter by the King of France to develop France’s territory in the Mississippi territory in the New World.

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Daily Compliance News

October 17, 2019- the $50bn edition

In today’s edition of Daily Compliance News:

  • Broadcom ordered to stop anti-competitive practices in Europe. (WSJ)
  • Is it real or is it payback? (Washington Post)
  • Will big pharma pay $50bn to settle opioid litigation? (NYT)
  • Wirecard’s fraudulent accounting practices revealed. (FT)