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Financial services firms, pharmaceutical companies and other heavily regulated organizations have long devoted significant resources to a compliance office, typically with a chief compliance officer and strong support staff. Multinationals have embedded part of the compliance function locally, typically with reporting to both the central compliance office and local management. But companies not facing heavy [...]
[Read More]Rounding out the 2010 GRC Wish List at #10 is “Increased Agility to Respond to New/Changes in Regulations.” While there’s a lot of talk about regulatory reform, and Gordon Burnes noted that “Regulatory Clarity” was #1 on the 2010 GRC Wish List, we may be getting closer to actual regulation this year.
President Obama, in his [...]
It seems we can’t pick up a newspaper today without seeing another story on top management compensation, and its role in the near financial system meltdown. As Congress and the Administration wrestle with regulatory reform, fingers continue to point at CEOs and other senior executives who reaped huge rewards for taking what are deemed to [...]
[Read More]There are few things more devastating to a chief executive or board of directors than seeing their company’s name splashed across media headlines with allegations of having broken the law. After wondering how it could possibly happen to us, the focus quickly goes to how best to effect damage control, with accompanying thoughts of [...]
[Read More]Even in the wake of sweeping deregulation of the energy industry, few companies face as much government oversight as utilities. Power generation and distribution companies are subject to a maze of regulatory oversight, including state agencies and the federal agencies, the Federal Energy Regulatory Commission (FERC), the North American Electric Reliability Corporation (NERC), the Nuclear [...]
[Read More]As a follow on to my previous post about the survey conducted at OPEN, we also learned something about companies’ GRC efforts. Almost 90% said that their GRC spending would either increase or stay the same over the next year. During a time when IT spending overall is dropping, it’s important to note that spending [...]
[Read More]At last week’s OPEN — OpenPages European Network, we conducted a survey of attendees to get a better sense of what they thought about the impact of the financial crisis on the regulatory environment and their own approach to risk management. There were some interesting results, especially when compared with those from OPUS, held 11 [...]
[Read More]While many companies have basic elements of a compliance program in place such as code of conduct and whistleblower programs, simply having these elements is no substitute for a comprehensive program. In reality, many companies have implemented a “one-off” approach in which procedures often become fragmented, duplicative and outdated over time. For these organizations, the [...]
[Read More]Companies today are being forced to comply with an extensive set of regulations. One thing that you can count on in the fallout of the financial meltdown, is that regulatory pressures will continue to mount. And for large, multi-national organizations in heavily regulated verticals, the problem is further compounded. Businesses need to take a practical, [...]
[Read More]A group of investors issued a report yesterday that criticized the Obama administration’s plan to have the Federal Reserve operate as the systemic risk regulator. The Investor’s Working Group consists of a high-octane set of investors, including CalPERS, Capital Group and GMO, as well as academics and journalists, and it is chaired by former SEC [...]
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