Report from IMPACT 2023: Larry Thompson on the Evolution of Compliance

September 8, 2023

ECI’s IMPACT 2023 was one of the leading compliance events in 2023. At this conference, Tom Fox, the Voice of Compliance, was able to visit with several of the speakers, exhibitors, participants, and one group of ethically-minded Girl Scout Troop. In this limited podcast series, Report from IMPACT 2023, Tom explores many of the most cutting-edge topics in ethics and compliance through short podcast episodes. Check out the full series of interviews. You will be enlightened and informed and come away with a fuller and more thorough understanding of the most cutting-edge topics in ethics and compliance. In this episode, Tom visits with Larry Thompson, former Deputy Attorney General and well-known compliance professional. Join Tom and Larry as they delve deeper into these topics on this episode of the Report from Impact 2023.

Larry Thompson is a seasoned professional in the field of compliance, with a career that spans several decades, starting as a young lawyer working with defense contractors in the late 1980s. Thompson’s unique insights on the evolution of compliance programs and ethical culture stem from his firsthand experience of the shift from a rules-based, legalistic approach to a values-based approach. He emphasizes the importance of companies having a common set of values that employees can embody and reflect in their actions, contributing to their long-term sustainability. Thompson also acknowledges the changing values and expectations of the new generation of employees, who prioritize working for companies that align with their own values and have a culture of integrity and purpose. These insights were shaped by his involvement in the establishment of the organizational Sentencing Guidelines in the early 1990s and his roles as a board member of various public companies and an active participant in the National Association of Corporate Directors.