Catching up, part 3

Continuing from https://infogovnuggets.com/2019/01/04/catching-up-again/ and https://infogovnuggets.com/2019/01/04/catching-up-again-part-2/, and https://infogovnuggets.com/2019/01/04/catching-up-part-3/

  1. Conflicts with conflicts

    “Justice Department Chides McKinsey in Another Bankruptcy Case,” The Wall Street Journal, December 17, 2018.  McKinsey continues to fail to make what are viewed as adequate disclosures of conflicts when advising bankruptcy estates, and may not get paid for its work as a result.

  2. Voter data

    “Fight Over Voter Data Roils Democrats Ahead of Election,” The Wall Street Journal, December 17, 2018. Have Republicans been better than the Democrats at collecting and storing information?  What’s this worth?

  3. Your business partner wants you to call a shareholders’ meeting

    “Renault Urges Nissan to Call for Shareholder Meeting Following Nissan Indictment,” The Wall Street Journal, December 17, 2018.  Is this interfering with “your” governance?  Is this a compliance matter, or a partnership matter, where your partner is concerned that you are keeping your CEO as CEO while he sits in jail?

  4. Is a dance move “information”?

    “The ‘Fortnite’ Dance Move That Spawned a Lawsuit,” The Wall Street Journal, December 17, 2018.  While longer dance routine can be protected by copyright law (which was a bit surprising to me), not so (so far) for “snippets.”

  5. Hiding risk information may be a problem

    “Glencore-Controlled Miner to Be Fined by Canadian Authorities Over Congo Ops,” The Wall Street Journal, December 17, 2018.  Fine of $22 million for company and some of its former directors and executives for hiding the risks of doing business with someone connected to Congolese president.  Is a risk analysis information?  Can you hide that from the shareholders?

  6. Warning signs

    “Goldman Sachs Ignored 1MDB Warning Signs in Pursuit of Asian Business,.” The Wall Street Journal, December 18, 2018.  Can chasing business too hard lead one to ignore important information and sidestep important controls?  What controls can you put in place to avoid having this happen to you?  Is this an oversight issue?  Do criminal charges and huge fines lay ahead?

  7. VW vendor pleads

    “Volkswagen Supplier to Plead Guilty to Conspiracy, Pay $35 Million Fine in Emissions-Cheating Probe,” The Wall Street Journal, December 19, 2018. Company that designed the software used to fool or, as some say, cheat, the emission test pleads guilty to crime and pays a fine to US.  VW has paid more than $20 billion.  Is this just compliance-related, or is there also an information hook here?  Design a software to work around a government test.

  8. Looking for a whistleblower

    “Barclays Fined $15 Million by New York Over CEO’s Anti-Whistleblower Push,” The Wall Street Journal, December 19, 2018.  The CEO had tried to use the company’s security department to locate the writer of a letter critical of a recent hire.  He pressecd on, despite advice from the head lawyer and the chief compliance officer (costing him £642,000 in fines and £500,000 of his bonus).  So the shareholders pay more than the CEO did.  Go figure.

  9. Hiding the names of the guilty

    “Illinois Dioceses Withheld Names of Accused Priests, Report Says,” The Wall Street Journal, December 20, 2018.  Can you legally not disclose the name of an employee or a contractor who was accused of sexual abuse?  Is this a governance issue or a compliance issue or an information issue?  Or a reputation problem?

  10. Ethics and policies
    “Is It Really Five Stars? How to Spot Fake Amazon Reviews,” The Wall Street Journal, December 21, 2018. How Amazon goes about trying to separate the wheat from the chaff.  How does your company determine what’s a fake review and what’s the real deal?

  11. Information/price linkage

    “Room for Improvement? New Hotelier Tests an Algorithmic Pricing System,” The Wall Street Journal, December 22, 2018.  Using information about a customer and from a customer to establish the price for future sales to that customer.  Interesting linkages at a new hotel chain.

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1 Comment

Filed under Collect, Communications, Compliance, Compliance (General), Controls, Corporation, Definition, Directors, Duty, Duty of Care, Employees, Governance, Information, Investor relations, Management, Oversight, Ownership, Privacy, Records Management, Risk assessment, Supervision, Third parties, To report, Use, Value, Vendors

One response to “Catching up, part 3

  1. Pingback: Catching up, again, part 4 | infogovnuggets

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