Increasingly, companies are realizing that operating an ethical business extends beyond how their own employees behave—they’re also responsible for choosing ethical partners and suppliers, and monitoring those links. These challenges are particularly acute for multinationals operating around the world. Our contributors weigh in on how you can evaluate your third party relationships and build capacity in your value chain.

Managing Anti-Corruption Compliance with Sales Channel Partners

By |2021-05-11T15:33:00+00:00May 10th, 2021|Value Chain and Third Party|

Time and again, we are reminded through costly enforcement actions, government guidance and compliance surveys, that the many third parties with which a company does business pose the greatest risk of corruption and bribery-related conduct—perpetrated either by, or through, third parties. Nevertheless, many successful (and compliant) business models rely heavily on a large network ...

Coalition for Integrity: Recommendations for the New Administration

By |2021-04-30T19:09:03+00:00April 30th, 2021|Legal and Regulatory, Value Chain and Third Party|

Corruption has a habit of spreading to all facets of society. Whether it begins in government, business, financial markets, or civil society, if left unchecked it soon permeates them all. It entrenches those at the top of the income brackets, stifling competition and dooming the millions at the bottom to lifetimes of poverty. While ...

Preparing for New EU Human Rights Rules

By |2021-03-26T19:02:06+00:00March 26th, 2021|Legal and Regulatory, Value Chain and Third Party|

Following last month’s vote by the EU’s Legal Affairs Committee to approve a draft law to require companies to conduct environmental and human rights due diligence in their supply chains, the EU parliament adopted the legislative report. Leslie Benton, Vice President, Ethisphere Why the New Requirements? Among the goals of the legislative ...

BCBS of Michigan: Third Parties Are Not Tertiary Business

By |2021-02-16T23:48:21+00:00February 16th, 2021|Value Chain and Third Party|

Your third parties are an extension of your business and as you know, are essential to your brand reputation and overall stakeholder trust. Even if a company delegates responsibility for a task or function, your organization ultimately remains accountable. Effective oversight practices are expected and assumed. For us in the healthcare industry and specifically ...

FCPA Enforcement in 2020: A Year in Review

By |2021-02-04T23:45:43+00:00February 4th, 2021|Legal and Regulatory, Value Chain and Third Party|

Leslie Benton, Vice President, Ethisphere For the last few years, January has been a notable month for FCPA enforcement, and this year appears to be no different. Last week, the DOJ and the SEC announced that Deutsche Bank will pay $130 million to resolve bribery charges related to its attempts to win business in ...

COVID-19 Brings Increased Scrutiny from Development Banks

By |2020-12-09T23:24:27+00:00December 9th, 2020|Legal and Regulatory, Value Chain and Third Party|

Brian Whisler, Partner, Baker McKenzie The Multilateral Development Banks (MDBs) and other international financing institutions (IFIs) are preparing for the increased risk of fraud and corruption that will follow the release of significant emergency funds to combat the COVID-19 global pandemic and its effects. Companies operating in low- and middle-income countries should ...

AB InBev: Anti-Corruption as a Public-Private Partnership

By |2020-11-12T05:19:54+00:00November 10th, 2020|Boards and Governance, Value Chain and Third Party|

The COVID-19 pandemic has accelerated changes in how businesses approach corporate social responsibility. COVID has accelerated many processes, and corruption is not immune to its influence. Underneath the constant reporting on the virus and the headwind of lockdowns lies the ever-present challenge of global corruption, a systemic barrier to development. John Blood, Chief ...

2020 World’s Most Ethical Companies: Due Diligence Continues to Expand

By |2020-10-21T16:09:06+00:00September 9th, 2020|South Asia, Value Chain and Third Party, World's Most Ethical Companies Insights|

Erica Salmon Byrne, Executive Vice President, Ethisphere The COVID-19 outbreak has disrupted and decimated the global supply chain leading to a renewed focus on sourcing from developing countries such as India. While research suggests that India stands to gain from this new wave of supply chain re-construction— a myriad of potential risks ...

[WATCH] World’s Most Ethical Companies Third-Party Risk Management

By |2020-06-04T04:42:35+00:00June 4th, 2020|Value Chain and Third Party, World's Most Ethical Companies Insights|

Ethisphere is excited to launch of volume two of its 2020 World’s Most Ethical Companies® Insights Report series. The report covers Third-Party Risk Management and offers insights into how World’s Most Ethical Companies honorees are addressing the selection and onboarding of third parties and ongoing compliance oversight. It covers due diligence, third-party codes, communications and ...

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