Compliance &Ethics - Society of Corporate Compliance and Ethics

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Featureimportant search engines, social media monitoring,and XBRL conversion and distributiontools. Like other forms of electronic communication,social media, including blogs, are of coursediscoverable legally and are covered by SEC andFINRA rules for certain kinds of companies.Compliance, after all, has been the thorniestand most intimidating issue for early adopters.The newest tools for archiving social media anddocumenting critical content are cloud-basedsystems that capture social media activity fromemployees’ devices, while respecting users’privacy and complying with privacy laws.Simple opt-ins from users combined with usernames and passwords don’t detract from thesocial media experience with LinkedIn, Twitter,and other vehicles. These newer technologiesbecoming available, combined with improvedcooperation among legal, compliance, humanresources, and investor relations or public relationsofficers, should make social media easierto adopt. They also would reduce previouslyhidden costs such as legal fees.After all, many such questions for publiccompanies can be answered within the contextof Regulation FD disclosure guidance as theSecurities & Exchange Commission distills itspositions on legal disclosure and materialitystandards over time. Also, as better transparencyis achieved, social media processes canbe automatically streamlined to a point wherebetter compliance workflows are automatic.Both these factors offer improved speed andcost containment of disclosure and compliance.In short, corporate social media presentschallenges and opportunities, some of themself-imposed because of internal concernsand issues or a lack of full understanding.However, social media evolves rapidly, andso should our concept of it, both the problemsand the opportunities. The time to “mind thegap” and bridge it with careful preparation,planning, and policies is now. ✵Steve Carr (scarr@dresnerco.com) is Managing Director of internationalconsulting firm Dresner Corporate Services, and also serves as Chairman ofthe National Investor Relations Institute in Chicago.1. IBM social media policy. Available at http://www.ibm.com/blogs/zz/en/guidelines.html2. Security and Exchange Commission: Fact sheet: Regulation FairDisclosure and New Insider Trading Rules. August 10, 2000. Available athttp://www.sec.gov/news/extra/seldsfct.htmCompliance & Ethics Professional May/June 2013501 Ideas for YourCompliance and Ethics ProgramLessons from 30 Years of PracticeAuthor Joe Murphy has compiledthe most effective ideas he andother compliance professionalshave tried. Topics coveredin this collection include:• Identifying Compliance & Ethics Risks• Establishing and Enforcing A Program• Conducting Audits• Benchmarking Against Industry Practices• Preparing for Investigations• Evaluating Effectiveness• and Much More!To order, visit www.corporatecompliance.org/books or call 888-277-4977.44 www.corporatecompliance.org +1 952 933 4977 or 888 277 4977
View from the Front Linesby Meric Craig Bloch, CCEP, CFE, PCI, LPIYou need your organization’sleadership; they don’t reallyneed youBlochInvestigators are like dentists. People don’twant to call on us, although they might beglad to know we’re there, just in case. Andwhen they do need us, it’s only a question ofhow much it’s going to hurt to fix the problem.Investigators—and all compliance people—need company managers as alliesand advocates. An effective way tocultivate managers is to consider theirneeds and concerns in your strategicthinking. Then include their needsand concerns in your investigationgoals. Just because you are trying todetermine what went wrong does notprevent you from similarly identifyingwhat went right. Also, identifying wheresome business process needs to be improveddoes not require you to blame someone. Processgaps often arise because business processesare designed by honest people who limitedtheir focus to whether the crafted process willbe useful, efficient, and cost-effective. Processimprovements are frequently implicated in misconductinvestigations, not so much because ofour crackerjack investigative skills, but becausethe business people did not “think like crooks”and foresee the possibility of employee wrongdoing.Investigators learn through training andexperience to think like dishonest people.So influence how management values you.Critically ask yourself two questions: (1) Are theinvestigators aggressively taking a posture offinding misconduct (through training, awareness,and ensuring that reports are made), ratherthan passively waiting for a report to arrive?; and(2) Are the issues being investigated consequentialand meaningful, or are they inconsequentialin the scheme of your overall business interests?Everyone involved in the investigation processmust answer these questions.If you are dissatisfied with the answers,nothing stops you from exploring misconductproactively, before an incident occurs. You havesome control over whether you simply wait forthe phone to ring.Are you regularly helping businesspeople solve their business problems? If thewrongdoing affects a customer relationship,are you helping to repair it? If you make it apriority to stay business-focused and to be anadvisor, the business people will become yourallies. (And investigators need all the supporterswe can get.)The point here is that your organizationalways has choices. Just because the organizationhas to conduct some inquiry into possiblemisconduct does not mean they will do it aseffectively as you would like them to do it.The organization can conduct bare-bones,check-the-box investigations. Or they could justoutsource your function entirely.So never take your job security for granted.Use the quality of your efforts to show themhow smart they were to hire you. ✵Meric Craig Bloch is the Compliance Officer for the North Americandivisions of Adecco SA. He has conducted more than 300 workplaceinvestigations of fraud and serious workplace misconduct, and is an authorand a frequent public speaker on the workplace investigations process.Follow Meric on Twitter @ fraudinvestig8r.Compliance & Ethics Professional May/June 2013+1 952 933 4977 or 888 277 4977 www.corporatecompliance.org 45
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