Vault Platform Blog
Big Tech faces more employee activism over misconduct handling
-The Alphabet Workers Union aims to pressure the company to prioritize ethics in product development, and take reports of workplace misconduct, including diversity, pay discrimination, and sexual harassment, more seriously.
Financial watchdog cracks down on non-financial misconduct
-Historically, national financial regulators such as the Financial Conduct Authority (FCA) in the UK have been less aggressive in pursuing ‘non-financial’ misconduct than in cases where a client’s money is at stake. But developments at the tail end of 2020 marked a sea change in the focus of the FCA, which we expect to see replicated globally.
Nasdaq sends strong signal on importance of diversity
-In a filing with the US Securities and Exchange Commission (SEC) the proposal will require most Nasdaq-listed companies to have at least two diverse directors, including one who self-identifies as female and one who self-identifies as either an underrepresented minority or LGBTQ+. Companies that are not able to meet these requirements must be able to publicly explain why.
Incoming changes to legislation make whistleblowing more rewarding
-The Securities and Exchange Commission (SEC) will implement new rules to its whistleblower program on December 7, with the goal of increasing both the incentives and awards for external whistleblowers.
Breaking the status quo of gender harassment in business
-Research published by the University of Sydney finds that women working in male-dominated industries – such as investment management, automotive, and airline pilots – encounter gender harassment on a daily basis.
Social and environmental risk is financial risk
-A persistent misconception that is only being very slowly eroded is that prioritizing ethics comes at the expense of financial performance. But the evidence suggests this isn’t the case and ethical health is a good indicator of financial health.
Compliance exceptions should not become the ‘new normal’
-When the pandemic first hit businesses had to adapt to survive and as time goes on with no sign of a solution on the horizon many of those ‘quick fixes’ are still in place. But while it’s important for businesses and their respective functions to move with the circumstances, there is a clear requirement for Compliance functions to be aware of new or evolving risks those changes may have presented.
When employee empowerment becomes scary
-Companies of all sizes are under increasing pressure from employees, governments, and customers to drive a strategy that delivers social good as well as shareholder value. Stakeholder value, if you will.
ESG and Compliance for creating real value
-Amid a global rebalancing of corporate purpose for the benefit of all stakeholders, we are seeing more silos being broken down within large enterprises as they seek to combine their ESG (Environmental, Social, & Governance) functions with Ethics & Compliance.
Create a healthy cyber-culture: Stop bullying at work
-Recently, UK law firm Shoosmiths said that cyberbullying claims have “increased substantially” since the onset of COVID-19. “With more of us working from home and using online platforms than ever before to connect with colleagues and clients, the blur between home and work life has seen many abandon office etiquettes.”
