Tom and Jay are awaiting their bookings to see the final installment in the 9-part series of the Star Wars saga. While waiting, they consider of this week’s top compliance and ethics stories which caught their collective eyes.
1. Tim Leissner settles with the SEC. Dick Cassin. Tom takes a deep dive in the FCPA Ethics and Compliance blog.
2. Aly McDevitt with two great articles on talks at CW Third Party Conference.
3. Mexico getting serious about fighting corruption. Luis Dantón Martínez Corres in the FCPA Blog.
4. Culture lessons from Coca Cola. Gary Patterson and Robert Baker in CCI.
5. Jay looks at the expansion of the corporate integrity monitor, in CCI.
6. Cyber enforcement and FTC expectations. Avi Gesser and Molly O’Malley Clarke in NYU’s Compliance and Enforcement blog.
7. What is the intersection of corp oversight and disobidience? Elizabeth Pollman in the Harvard Law School Forum on Corporate Governance.
8. How and why should you manage your corp culture? Jim DeLoach in CCI.
9. New DOJ Cooperation Policy on Trade Sanctions and Export Control. Matt Kelly in Radical Compliance.
10. Insurance to protect you from populism? Liam Fitzpatrick on the D&O Diary.
11. On the Compliance Podcast Network, Tom and Jay celebrate the opening of The Rise of Skywalker with a five part podcast series on the intersection of Star Wars (IV-VIII) and compliance. In Part 1, A New Hope and Risk; in Part 2, The Empire Strikes Back and Due Diligence; in Part 3, The Return of the Jedi and Effective Training; in Part 4, The Force Awakens and Disruption in Compliance and in Part 5, The Last Jedi and BOD Role in Succession.
Tom Fox is the Compliance Evangelist and can be reached at tfox@tfoxlaw.com. Jay Rosen is Mr. Monitor and can be reached at jrosen@affiliatedmonitors.com.
For more information on how an independent monitor can help improve your company’s ethics and compliance program, visit our sponsor Affiliated Monitors at www.affiliatedmonitors.com.
Day: December 20, 2019
Board’s ability to “refresh itself on a regular basis can help ensure it maintains a proper mix of experience and expertise to meet the organization’s current and long term needs.” While noting that there is no ‘one-size-fits-all-approach’ to succession planning, you should have a plan.
- Examine the key corporate documents. The director nomination policy and any relevant policies setting out the appropriate protocols and procedures.
- Use an assessment framework. Base your criteria on organization needs and director performance.
- Conduct due diligence. Conduct an executive level due diligence background investigation.
- Maintain a pipeline. Maintain a pipeline of qualified candidates.
- Assess Board policies. Every Board should assess all policies around succession on a regular basis.
- Disclose your succession strategy. Both a large number of institutional investors and good corporate governance advocates suggest that companies disclose their Board of Director succession strategies. It provides greater transparency to stakeholders.
- Benchmark your succession strategy. Benchmark your succession strategy.
I turn the tables on Richard Lummis this week as I interview him on the recent bestseller Super Pumped-the Battle for Uber by Mike Issac. Highlights of this podcast include:
- What were Kalanick’s leader failures?
- How did Trump’s first Muslim ban negatively impact Uber and start Kalanick’s downfall?
- What was the role of the Susan Fowler blog in the downfall of Kalanick
- What was the role of the Board and what were the Board missteps?
- What were the structural issues around stock ownership and how did they negatively impact corporate governance?
- Does Uber have a valid business model going forward?
- What is disruption and why can it be so powerful?
In today’s edition of Daily Compliance News:
