REUTERS | Kai Pfaffenbach

PLC Magazine recently published a thought-provoking article, Data protection: privacy by (re)design, by Sylvain Magdinier and Claire Walsh of Marshall Denning. The piece provides a thorough analysis of one of the most challenging concepts of the EU General Data Protection Regulation (GDPR), privacy by design (PbD) under Article 25. Continue reading

REUTERS | Global Creative Services (no copyright)

When was the last time you thought through your third-party management and due diligence process? Perhaps you inherited a system that was in place when you arrived, and you’ve never changed it. Perhaps you’re trying to manage it on an Excel sheet. Perhaps you know it’s a problem, but you’ve never actually done anything about it…

Considering that the vast majority of bribery cases involve a third-party intermediary, and one-in-two global enforcement actions involved a third-party, your third-party risk management programme is a crucial part of your compliance programme.

Is your current third-party risk management and due diligence system up-to-scratch? Here are five questions you should be asking yourself to find out.

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REUTERS | Corbis

A long time ago there was a mouse living comfortably in the land of cheese. He was employed by a big multinational. The mouse was hard working and valued integrity, loyalty and respect most. The mouse was a real stand-up mouse, a mouse prepared to go the extra mile.

The mouse was consistently trying to maintain the integrity of his company, an important aspect of his job and his character. To his shock, he became aware of a serious wrong doing. This wrong doing was so far reaching, it was sure to lead to imprisonment and/or severe monetary penalties. This was a key part of the mouse’s obligatory compliance training, which included fraud, bribery, corruption and money laundering.

What should the mouse do?  Continue reading

REUTERS | Mike Blake

On 22 January 2019, Patisserie Valerie announced that it had failed to secure an extension to its lending facilities and that it was to enter administration. Patisserie Valerie is the latest high-profile company to collapse because of fraud and inaccurate data. The case raises some of the same issues as the failure of Carillion, namely:

  • Quality of the audit work performed by the external auditors.
  • Lack of strong internal controls.
  • Poor governance.

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REUTERS |

The days of throwing money at cybersecurity with no management oversight or engagement are long over. Cybersecurity is now 100% a business issue. It has evolved into a strategic corporate activity as opposed to purely a technology afterthought managed by the IT function. The ever increasing and changing nature of cyber risk means organisations need to develop new and innovative ways to manage it. Continue reading

REUTERS | Ognen Teofilovski

Are you aware of the ways in which you respond to pressure and ways in which you can manage pressure to avoid the harmful physical and mental effects of chronic stress?

Executive Coach and Wellbeing at Work specialist Bridget Clapham has developed a series of resources for Practical Law on mental health, stress and wellbeing in the legal profession. The resources include case studies, self-awareness activities and reflective exercises that provide practical steps for lawyers to take to help manage pressure and safeguard their mental health. They also provide links to other resources to further develop knowledge and skills in this area. Each of the resources can be looked at independently but are also designed to be read in conjunction with one another to optimise knowledge and skills development .

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REUTERS | Nikola Solic

Towards the end of last year, Thomson Reuters hosted a NEDonBoard expert panel event on the key learnings from the collapse of Carillion. The panel was chaired by Olivier Garrigue, experienced Chairman and CEO, and included the Reuters journalist, Kate Holton, and Giles Boothman, a partner and restructuring lawyer at Ashurst.

Lucinda Case, Managing Director of Thomson Reuters Legal UK & Ireland, and a trustee of the Council of the Royal Albert Hall, opened the event. In her experience as a trustee, Lucinda noted the difficulty sometimes in navigating extensive board information packages and striking the right balance between being challenging and getting involved in the details while allowing the executives to get on with their job.

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REUTERS | Navesh Chitrakar

A useful analogy can be drawn between the negotiation and execution of a contract, where the output is an executed contract, and the manufacture of an object, such as a car, where the output is a finished product. In a contract negotiation, the other party stands in the place of the customer for the finished product. While many customers are willing to accept standardised, mass-produced goods, others require varying degrees of customisation, which is also the case with contracts. Looking at the evolution of manufacturing provides a useful insight into the way that the contract review process has developed, where playbooks fit in, what other changes we can expect, and how to respond.

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