Jeff Jinnett: Directors of Public Companies No Longer “Parsley on the Fish”

Irving Olds, Chairman of U.S. Steel from 1940-1952, once opened a speech by declaring, “Directors are like the parsley on fish – decorative but useless.” The perceived importance of directors has changed radically since the time of that speech as a result of the Sarbanes-Oxley Act and New York Stock Exchange listing requirements. The role…

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Sai Sireesh: Journey to Regulatory Vision 2020 – Prescriptive Enforcement

The continued wave of Systemic Risks in Greece and now increasingly Spain, the environmental disaster threaten to shatter the relative financial and economic calm in the business world. Amidst this many countries are undergoing some major changes in the regulatory landscape as a result of the events in the last two years.    As I mentioned…

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Jeff Jinnett: Amendments to U.S. Federal Sentencing Guidelines as to What Constitutes an Effective Compliance and Ethics Program, to Take Effect on November 1, 2010

On April 7, 2010, the United States Sentencing Commission[i] voted to modify the U. S. Federal Sentencing Guidelines’ standards for what constitutes an “effective compliance and ethics program”[ii]. The Sentencing Guidelines are consulted by judges in connection with companies found guilty in federal court of having violated U.S. federal law in order to determine appropriate…

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Sai Sireesh – Regulatory Vision 2020 – Top 10 list

I am a keen follower of the Australian regulator APRA that in my mind certainly ranks amongst the thought leaders in regulatory thinking.  APRA has been at the forefront of many new regulatory concepts and pro-active adoption. Its current focus is on 3 major areas – Financial stability and systemic risk, Group Supervision, Remuneration.  Their…

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Jeff Jinnett: Towards a Structured GRC Taxonomy

Although governance, risk management and compliance laws and regulations may vary greatly depending on the jurisdiction, issuing authority, regulator and target industry, there appear to be certain common GRC issues that can be used to group mandates into categories. For example, the following nine GRC issues (with examples) may represent a useful taxonomy for the…

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