Newsletter | Volume 1

Issue I
Issue II
Issue III
Issue IV
Issue V
Issue VI
Issue VII
Issue VIII
Issue IX
Issue X
Issue XI
Issue XII
Issue XIII
Issue XIV
Issue XV
Issue XVI
Issue XVII
Issue XVIII
Issue XIX
Issue XX
Issue XXI
Issue XXII
Issue XXIII
Issue XXIV
Issue XXV
Issue XXVI
Issue XXVII
Issue XXVIII
Issue XXIX
Issue XXX
Issue XXXI
Issue XXXII
Issue XXXIII

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NEWS



The Storyline (part III) of the 8th annual European GRC Summit organized by Copenhagen Compliance

I have two pieces of paper in my hand. The one is a Copenhagen Compliance´┐Ż Framework on how to implement ethics and culture as vital components of Governance and Risk Management, which is the topic of today's workshop. On the other hand, I have the agenda of the "8th annual European GRC SUMMIT in Copenhagen," on September 22nd-23rd 2014 at the Confederation of Danish Industries.

A 7-Step Compliance Checklist to manage the Risk of Information Exchange

Enforcement trends show that information exchange is receiving heightened attention from enforcement agencies with a definite trend towards increasing prosecutions for stand-alone violation whether or not it relates to a cartel.

The Corruption risks Scandinavian businesses face when doing business in overseas markets

Recent enforcement activities by the UK's Serious Fraud Office (SFO) and FCPA are signaling a new era of relentless investigation and prosecution of corrupt practices. The cases involve investigations for individuals and companies such as GlaxoSmithKline, Alstom UK, Airbus Group NV, Sweett Group and others. In this article we review the recent bribery and corruption cases brought against Scandinavian companies.

The role and responsibilities of the board of directors and the various sub-committees

Global mandates and legislation on the Board of Directors responsibility, accountability, transparency, changing stakeholder responsibilities and reforms, suggests a number of possible steps that the board of directors must take to ensure that they satisfy their obligation and responsibilities to all stakeholders. This series of article examines the changing expectations for the various committees and suggests a number of practical measures that should be incorporated in each committee charter to ensure they meet their obligation and that boards should consider when establishing a committee.

Calling for proper risk behavior to avoid another crisis.

Simple valuation gains are again seen in the equity markets as a prime real estate markets bear little relationship to fundamental economic developments. The values are once again soaring, while world trade is stagnating. US growth over the past 12 months has been less than 2%, yet in the same period the S&P 500 stock market index, has gained about 17 %. There is scant real growth across most of the Eurozone and in Japan.

Whistleblowers play a key role in uncovering serious irregularities.

EU Ombudsman Emily O'Reilly pushes for more protection for EU whistleblower. The EU Ombudsman has opened an investigation into nine EU institutions, which have failed to put in place protective measures for staff members that report corruption or malpractice.

Formula One Chief Bernie Ecclestone Settles Bribery Case for $100 Million.

Formula One is a sport enjoyed by many. The sport regards Formula One Chief Bernie Ecclestone as the indispensable genius of the game. A judge in a Munich court, probably a Formula One fan, agreed to let Bernie Ecclestone pay a $100 million penalty in return for resolving a criminal case of bribery that could have sent him to jail for up to 10 years.

The role and contribution of GRC officers in developing strategies, risk appetite and profile, culture, and governance effectiveness.

GRC officers are accountable for key GRC policies at all levels in the organization. They have to be sufficiently empowered to put on the brakes on the firm's risk exposure, but their critical role is in enabling the firm to conduct well-measured, profitable risk-taking activities, to support the long-term sustainable success.

DEVELOPING EARLY WARNING FOR BLACK SWANS

When directors and managers go for denial, they end up with a wheelbarrow of varied compliance processes, duplication of efforts, controls and manual tests that confuse even the most-basic regulatory control that can only lead to greater compliance breakdown... it is like taking more and more of the same medicine to cure the initial problem.