Perhaps the most disturbing conversation I heard this year went as follows:
Me: “So what interaction do you have with your Ethics and Compliance (E&C) team.”
Head of sales at large multinational business: “Once a year I get an email from them listing who has not done their annual Code training.”
Me: “Ok”
Ok maybe not the ‘most disturbing’ – I have two teenage children, but right up there.
The European Council’s conclusion that sufficient progress had not yet been achieved in Brexit negotiations on withdrawal matters to move on to discussing the framework for the future relationship and transitional arrangements was the most significant development in October.
Reflecting on Richard Thaler’s Nobel prize for Economics in recognition of his work on ‘nudge’ theory, in November’s vlog I highlight a number of recent initiatives where smaller organisations are being gently encouraged to follow guidance or regulation aimed at larger ones.
We are carrying out some market practice research into intellectual property (IP) matters in a cross-border context and are inviting our readers to participate in a short preliminary survey by following this link.
The final report of the Parker Review Committee was published on 12 October 2017. Although the report does not make any concrete proposals in relation to extending its recommendations beyond listed companies, it does contain some practical tools for thinking about diversity that will be of interest to all organisations, not just those directly touched by the report’s recommendations.
Winmark and Clyde & Co recently published the 2017 Looking Glass Report.
The 2017 report focuses on risk management in the context of a risk landscape which is “increasingly complex, uncertain and difficult to read” – and highlights the role of the GC in assisting their organisation to respond to this changing environment.
The report’s findings, based largely on a survey of 100 in-house legal leaders and 18 Board directors, are an interesting snapshot of how GCs and the Board perceive the GC’s role in key areas – and reveal points of significant divergence.
Key items on the agenda for businesses this month include helping your organisation take action to improve ethnic diversity at leadership level, considering whether to make a voluntary modern slavery statement and continuing to prepare for the GDPR.
Transparency International UK (TI) has now launched its new online tool, providing up-to-date and in-depth guidance for businesses in understanding and tackling bribery and corruption. This Global Anti-Bribery Guidance is now live at www.antibriberyguidance.org.
Regulatory changes in recent years have led to increasing pressure on companies to ensure they are facilitating and managing the ‘right’ compliance training for their employees.
As scrutiny from regulators continues to grow, the once-a-year training approach is becoming a thing of the past. Organisations are focused on supplementing their core compliance training with additional training in small, specific modules, to ensure their compliance programme is effective and relevant for employees.
For those wondering how many sleeps are left until the GDPR comes into force, it was confirmed at the sixth annual Thomson Reuters Future of Data Protection Forum, which took place last Thursday, that there were only 161 business days remaining.
With the looming deadline in mind, and a reminder in Ardi Kolah’s introductory address that the new regime is as much about reputation as regulation, business readiness and priorities were key themes of the day, with speakers and delegates sharing practical tips for managing core aspects of the Regulation.