"One common rationalization those board members might have been employing is called the appeal to higher loyalties, in which employees put the company's interests above that of larger society, or here, the interests of the harassed women." In this and another new paper, "Nudging Corporate Compliance," in American Business Law Journal, Haugh studied whether nonmonetary incentives can positively impact compliance.
"The best approaches to compliance focus not on how government regulators will react to a compliance initiative but on how employees—the real 'customers' of compliance—will be affected," he said.
Create a centralized repository to gather, track and respond to regulatory developments.
Implement a system of record for organizing regulatory intelligence.
Designed to provide a framework to help organizations identify, manage and implement appropriate controls around personal data processing activities.
Empowers organizations to maintain an accurate inventory of processing activities, establish and apply documented controls around the usage of PII, and manage data retention requirements.
Create, manage and distribute corporate and regulatory policies, standards and procedures in a single governance system of record.
Ensure alignment of policies with changing business objectives and reduce compliance gaps.
Financial crimes compliance has historically been solely the realm of banks and financial institutions.
Sujata Dasgupta discusses how and why customers are taking a larger role in ensuring their own compliance.