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The purpose of this paper is to show that cartel conduct is a common example of non‐compliance with competition laws and, in order to generate insight and lessons regarding aspects of corporate governance, two areas of cartel behaviour are to be analysed. The first is the extent to which employees of organisations were aware of the seriousness and illegality of their cartel conduct, and the second is the extent to which determining bodies acknowledged the presence or absence of compliance strategies within corporations being prosecuted for cartel conduct.

A measurement matrix devised from the literature was used as a methodological framework through which content analysis was conducted to explore whether cartel offenders were aware of the illegality of their behaviour and whether the presence or absence of compliance strategies was acknowledged by the court. In total, 69 publicly available investigatory outcomes sourced from 11 different jurisdictions were analysed.

The findings suggest a need for competition regulators to educate and raise the awareness of business people to improve understanding of the deleterious effects of cartels and of the provisions of relevant legislation in order to achieve better corporate governance and observance of enacted laws.

In 71 per cent of matters examined, cartel participants were found to be aware of the illegality of their behaviour and, whilst 45 per cent of Australian companies had no compliance programme in place to begin with, some other companies had established compliance programmes which were blatantly ignored by employees.

To alert corporations of a May 2015 speech issued by a top Department of Justice Official and a May 2015 settlement agreement between a global resources company and the Securities and Exchange Commission, both of which emphasize the importance of effective corporate compliance programs and provide guidelines and recommendations for achieving compliance programs that actually work.

Summarizes and analyzes the May 2015 speech of Assistant Attorney General Leslie R. Caldwell at the 10th Annual Compliance Week conference in Washington DC and the May 2015 settlement between BHP Billiton and the SEC to settle Foreign Corrupt Practices Charges.

The Department of Justice and the Securities and Exchange Commission continue to scrutinize not just whether corporations have compliance programs in place, but whether the compliance programs are actually effective.

Practical guidance from experienced compliance professionals based on recent government opinions and actions concerning corporate compliance programs.

The United States defense industry has had a long history of unethical and illegal business practices. Recent polls find that most Americans believe that their nation’s weapon acquisition system is one of the worst managed activities in the public or private sectors and the defense industry is neither efficient nor honestly managed. Although the defense acquisition process has been the subject of many reform efforts, it is reasonable to ask whether these reform efforts have had any success. The Defense Industry Initiative on Business Ethics and Conduct, commonly known as DII, is the defense industry’s selfgoverned program responding to the concern regarding ethical business practices in defense procurement. This study is to assess the Defense Industry Initiative on Business Ethics and Conduct in an attempt to find the perceived impact of this self-governed compliance program.

At the heart of the commentary on recent financial scandals and the legislative response in Sarbanes‐Oxley has been attention to the need for effective compliance programs at corporations to prevent misconduct. Coincident with these regulatory developments, the Federal Sentencing Commission has invited a review of the Federal Sentencing Guidelines, which are now over a decade old. One element of those guidelines, the standards for sentencing corporations, has greatly influenced thinking about effective compliance systems. This article reviews the Federal Sentencing Guidelines in a critical light and distills insights from other authorities to define the elements of an effective compliance program for any organization. The investment advisory industry is used as an example for applying the rules of good compliance.

To discuss the scope and limits of the compliance department's responsibilities in securities firms.

Describes the background to establishing stand‐alone compliance departments; the organizational structure of compliance departments; typical compliance functions; how the compliance department coordinates with business units, senior management, internal audit, and risk management; the distinction between a firm's responsibility to comply with applicable laws and regulations and the role of the compliance department; the distinctions between responsibilities of the compliance department and those of supervisors and senior management; and emerging regulatory trends impacting the compliance department.

New business activities and new regulations have placed increased demands on, and scrutiny of, compliance activities over the past few years. Regulators are looking to compliance departments to play an increasingly important role in identifying proactively and responding to potential wrongdoing.

Explains the critical importance of a well staffed, experienced, and adequately funded compliance department.

This article investigates the implementation of a compliance programme (CP) in terms of how practitioners conceive of and execute the responsibilities arising from this corporate governance mechanism.

This study involves a practice lens approach forms the case study analysis and interpretation, involving both interviews and documentary materials collected from an Italian company with prolonged compliance experience. Schatzki's (2002, 2010) practice organisation framework guides the interpretation of CP as a practice organised by rules, practical and general understandings and teleoaffective structures.

CP practice evolves over time. A practical understanding of daily actions required to accomplish the CP and a general understanding of the responsibilities connected with the CP, such as the attitudes with which the CP is performed, are mutually constitutive and jointly favour this evolution. Dedicated artefacts – such as IT platforms, training seminars and compliance performance indicators – help spread both of these types of understanding. These artefacts also align practitioners' general understanding with the CP's teleoaffective structures imposed, including the CP's assigned objectives and the desired reactions to them.

The findings have theoretical and practical implications by revealing the relevance of practitioners' understanding of corporate governance mechanisms in their implementation processes.

This study reveals the potential benefits of practice lens approaches in corporate governance studies. It responds to the call for qualitative studies that demonstrate corporate governance as implemented in daily activities.

To highlight the first award granted under the US Securities and Exchange Commission Whistleblower Program to a compliance professional.

Explains the first award issued to a compliance professional under the SEC’s Whistleblower program and the rules for issuing such an award.

The SEC has emphasized this award to a compliance professional, noting that individuals performing compliance, audit, and legal functions are on the front lines against fraud and corruption and are often privy to the very kinds of specific, timely, and credible information that can prevent an imminent fraud or stop an ongoing fraud. The SEC’s specific courting of compliance and audit personnel makes it even more important for companies to pay particular attention to complaints raised by those individuals.

Companies should continue to take steps to ensure that they have vigorous compliance programs in place to detect potential issues and to respond immediately and effectively to internally reported information.

Practical guidance from experienced regulatory and employment lawyers.

Corporate compliance practices are often “coercively” structured, coined by a legal discourse and derived from individualist normative concepts. Drawing on the “logic of the Decalogue”, the purpose of this paper is to design an “enabling” approach based on a covenantal logic present within the Decalogue.

The approach is interdisciplinary analysis summarizing exegetical, social science and business literature.

Within a covenantal and transcendental perspective, a morally literate community of employees, which have learned to reflect upon their responsibility, form the basis for compliance arrangements. They form a necessary complementary element of functional compliance systems.

The covenantal logic of the Decalogue can orientate the formulation of corporate compliance programs, which intend to follow an “enabling” approach. Normative claims should be rooted in an analysis of responsibilities towards relevant stakeholder groups. The potential of “spiritual capital” should be taken into consideration.

Reflecting one of the oldest ethical documents of human civilisation in the context of the contemporary management discussion on “coercive versus enabling control”, the orientating role of practical wisdom from the Jewish tradition becomes tangible.

The purpose of this article is to explore what the author believes to be some of the key challenges facing hedge fund managers that are preparing for registration with the Commission under the Investment Advisers Act of 1940 (“Advisers Act”).

Discusses marketing issues, including promotional use of track records from predecessor firms, use of target returns, use of selected investment performance, explicit or implicit promises of low volatility, and promises of specific fund characteristics. Discusses protection and proper use of fund assets, including asset safeguarding policies and procedures, and allocating expenses to funds. Discusses managing material, non‐public information; valuation of fund assets; side letters; and compliance program requirements.

The impacts of the new requirements will be significant for many hedge fund managers. Unregistered hedge fund managers will soon become subject to the full scope of the Advisers Act, including detailed compliance program requirements, obligations, and restrictions with respect to marketing, affiliated transaction prohibitions and restrictions, custody requirements, books and records creation and retention obligations, and a broad array of other standard and situational requirements. The organizations that meet these challenges successfully will be those that understand their risk profiles, foster top‐down “cultures of compliance,” and dedicate sufficient human and other resources to develop appropriate compliance programs and to monitor and continuously evaluate their exposures to potential compliance issues.

Provides a useful discussion of what the author believes to be some of the most important regulatory concerns and challenges faced by hedge fund advisers as they prepare for a new regulated environment.

The purpose of this paper is to highlight the case study of the Ministry for Primary Industries’ (MPI) Border Compliance Social Marketing programme. This programme aims to change the behaviour of international visitors to New Zealand. This is to protect New Zealand’s important horticultural and agricultural industries and environment from harmful pests and diseases. The programme encourages travellers to leave potential biosecurity risk items at home, or at least declare them to border staff or dispose of in special amnesty bins at New Zealand’s airports on arrival. It also influences local communities to advocate to friends and family overseas on MPI’s behalf.

Aimed at visitors with the highest identified risk, the programme uses a range of interventions in the pre-travel, in-journey and upon-arrival stages of travel. It is underpinned by social marketing theory and models, qualitative and ethnographic research and an understanding of the passenger journey.

The programme has delivered a significant reduction in the number of passengers being caught with prohibited items and has influenced behaviours in packing bags before travel and declaring items for inspection on arrival in New Zealand.

The programme contributes to the New Zealand biosecurity system, which protects the country’s key horticultural and agricultural industries. For example, the horticultural industry contributes $5.6bn annually to the New Zealand economy. It also protects native flora and fauna, which is a large attraction to overseas visitors, and contributes to the $12.9bn tourism industry.