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Compliance & ethics programmes environment report

22 October 2014

In a recent report published by the Society for Corporate Compliance and Ethics in conjunction with NYSE Government Services entitled “Compliance & Ethics Programmes Environment Report” there were a number of interesting findings as follows:

  • 56% indicated that the Chief Compliance Officer or the Chief Ethics Officer is generally appointed to oversee compliance
  • 79% of the respondents have a Compliance & Ethics programme
  • 93% of the respondent have a published code of conduct
  • 93% of the respondents did background checks on employees and those who supply the business
  • only 37% of the respondents tracked gifts and entertainment
  • 96% of the respondents to training but a large majority struggle to get completion of training by employees
  • 95% of the respondents use monitoring to track compliance and 62% of those use third party vendors to manage such monitoring
  • the top five investigations are discrimination, conflict of interest, breaches of information, fraud and workplace safety
  • over 70% of the respondents have formal policies for harassment, discrimination, privacy and information security
  • less than 50% have formal policies for anti-bribery, intellectual property, anti-trust and money laundering. 

This article was written by Robert Bond.

For more information contact Robert on +44 (0)20 7427 6660 or robert.bond@crsblaw.com