Corporate Compliance on a Global Scale : Legitimacy and Effectiveness

• Autore: Manacorda Stefano
• Pubblicazione: Cham : , : Springer International Publishing AG, , 2021; ©2022
• Descrizione fisica: 1 online resource (370 pages)
• Soggetto genere / forma: Electronic books.
• Altri autori: CentonzeFrancesco
• Nota di contenuto: Intro -- Preface -- Acknowledgments -- Contents -- Contributors -- About the Editors -- Part I: Notion and Evolution of Corporate Compliance -- Compliance in Historical Context -- 1 Modern Compliance -- 2 From Judging to Administration -- 3 The Compliance Response -- 4 Outstanding Issues and Best Practices -- 5 Conclusion -- References -- What We Talk About When We Talk About Compliance -- 1 A Starting Definition of Compliance with Two Warnings -- 2 The Link Between Risk and Compliance -- 3 A Taxonomy of Compliance -- 4 Compliance as a Specific Issue for Large and Complex Corporations -- 5 The Key Role of Directors -- 6 The Incentives for Directors -- 7 Some Concluding Remarks -- References -- The Imperfect Science: Structural Limits of Corporate Compliance and Co-regulation -- 1 Compliance Failures: Bolt from the Blue or Predictable Surprise? -- 2 Corporate Compliance as an Intricate Rulemaking Process: The Tricky Path to Effectiveness -- 2.1 Compliance Programs as Imperfect Tools -- 2.2 The "Inefficiency" of the Perfect Corporate Compliance -- 3 The Ineffectiveness of Compliance in Preventing Crimes by Decisive Actors -- 4 The Inability to Prevent Crime in Small- or Medium-Sized Companies -- 5 Conclusion -- References -- Part II: The Global Dimension of Corporate Compliance -- The "Dilemma" of Criminal Compliance for Multinational Enterprises in a Fragmented Legal World -- 1 Corporate Criminal Liability and Compliance for MNEs: Preliminary Remarks on the Lack of Supranational Enforcement -- 2 The Increasing Role for Compliance in Assessing Corporate Liability and the Emerging "Dilemma" Concerning MNEs -- 3 The Fragmentation of Criminal Compliance for MNEs: The Risk of Undercompliance and Overcompliance -- 4 Home Country and Host Country Standards for Criminal Compliance. ; 5 Third-Country Standards for Criminal Compliance and the Extensive Reach of Jurisdiction -- 6 Private and Public International Standards for Criminal Compliance -- 7 Concluding Remarks -- References -- The Cross-Border Provision of Investment Services: Identifying the Evolving Regulatory Risks and the Strategies for Compliance -- 1 Introduction -- 2 The Regulatory Framework for the Cross-Border Provision of Investment Services -- 2.1 The Three Main Paradigms of Cross-Border Conduct Regulation in Securities and Derivatives Markets -- 2.2 The National Treatment Approach -- 2.3 Recognition -- 2.4 Passporting -- 2.5 Implications of Different Cross-Border Regulatory Models for Global Banks -- 3 The Role of the Compliance Function in the Management of Cross-Border Regulatory Risks -- 3.1 A Brief Overview of the Structure of the Internal Control System for Financial Institutions: The Three Lines of Defence -- 3.2 The Role of Compliance Within the Three Lines of Defence Model -- 3.3 The Need for Compliance Programmes and Compliance for the Management of Cross-Border Compliance Risks -- 3.4 The Role of Compliance, as a Second Line of Defence Function, with Respect to Cross-Border Compliance Risks -- 4 The Role of Other Functions, in Particular Legal and Internal Audit, and Their Interaction with the Compliance Function -- 5 Conclusions -- References -- Receiving "Corporate Compliance" in Latin America -- 1 Introduction -- 2 Main Features of Corporate Liability and Compliance in Latin America -- 2.1 A Revolutionary Shift -- 2.2 Initial Debates Around Legal Transplants and Local Appropriation -- 3 Business and Legal Debates Set Out by the New Paradigm -- 3.1 Business Incentives to Invest in Compliance: The Brazilian Experience -- 3.2 Outside Brazil: Preparing for the New Scenario -- Public Procurement -- Facilitation Payments and Commercial Extortion. ; Political Contributions -- Gifts, Hospitalities, and Travel Expenses -- 3.3 Legal Challenges Within Internal Investigations -- Data Privacy -- Interviews and Their Subsequent Use as Evidence in Criminal Courts -- Legal Privilege -- 3.4 Corporate Whistleblowing and Competing Plea Bargain Institutions -- 3.5 B2B Compliance and the Effects of Transnational Private Regulation -- Financing -- Audit Firms -- Mergers and Acquisitions -- 4 Testing the Paradigm Through High-Level Corruption Cases -- 5 Conclusion -- References -- Reports -- Case Law -- Interviews -- Part III: Stakeholders and Corporate Compliance -- Stakeholders' Interests and Compliance -- 1 From Shareholder Primacy to Stakeholder's Value: CSR, ESG, Sustainability, and Benefit Corporations -- 2 Compliance with CSR, ESG, and Sustainability: Respect for the Law-The Case of the Protection of Human Rights -- 3 CSR, ESG, and Sustainability: Non-financial Reporting, Stakeholders' Interests, and Compliance-The European Experience: Directive 2014/95/EU -- 4 The US Experience Compared to the EU: Non-financial Information and Risk Management -- 5 ESG Investors, ESG Shared Value, Larry Fink's Rule, and Skepticism -- 6 Compliance and Liability: If and How? Open Standards and the Role of Standards -- 7 Conclusion -- References -- Compliance and Victimization in Health, Safety, and Environment Management Systems -- 1 Corporate Violence and the Different Contexts of Victimization -- 2 Motivations for Adopting a Health, Safety, and Environment Management System -- 2.1 The Incentives and Disincentives Arising from the Legal Framework -- 2.2 Benefits and Limitations of Voluntary Adoption -- 3 HSE Management Systems and the Prevention of Victimization -- 3.1 The References and Aims of HSE Management Systems -- 3.2 Understanding the Needs and Expectations of Interested Parties. ; 3.3 Managing the Risks: Communication and Participation of Workers and Interested Parties -- References -- The Direct and Indirect Effects of Corporate Compliance -- 1 A Brief Introduction -- 2 The Direct Benefits -- 3 The Indirect Benefits -- 4 The Costs -- 5 Some Concluding Evidence in the Coronavirus Era -- References -- Part IV: Behavioral and Digital Compliance -- Global Behavioral Compliance -- 1 Introduction -- 2 Predictive Compliance -- 3 Behavioral Compliance: Lessons, Strategies, and Tactics -- 3.1 Teaching and Preaching -- 3.2 Surveillance -- 3.3 Reaction, Remediation, and Adjustment -- 3.4 Compliance Metrics: The Road to RegTech -- 4 Trust and Moral Agency: The Dilemmas of Behavioral Compliance -- 5 Behavioral Compliance in Global Perspective -- 6 Conclusion: The Partial Embrace of Behavioral Compliance -- References -- Cognitive Dynamics of Compliance and Models of Self-regulation: In Search of Effectiveness in Strategies of Crime Prevention -- 1 Dilemmas of Compliance -- 2 Compliance Through Deference -- 3 The Two Normative Levels of Corporate Compliance -- 4 Different Models of Self-regulation -- 4.1 The Crisis of Command-and-Control and the Increasing Relevance of Indirect Regulation -- 4.2 Voluntary Self-regulation: The Role of Ethics Codes -- 4.3 Enforced Self-regulation as a Cooperative Strategy -- 4.4 The Differentiated and Integrated Approach of Responsive Regulation -- 5 Internal Regulation -- 5.1 Legitimacy and Adherence to Values According to Procedural Justice -- 5.2 Legitimate Decision-Making -- 5.3 Legitimacy in Action and Moral Proximity Among Actors -- 5.4 Procedural Justice and Restorative Justice in Dealing with Rule-Breakers -- 6 Conclusion -- References -- Digital Compliance: The Case for Algorithmic Transparency -- 1 Digital Innovation and Compliance -- 1.1 Compliance and Digital Innovation in the Financial Sector. ; 1.2 The Digitalization of Everything and the Risk-Based Approach -- 1.3 The Rise of Fintech -- 2 Digital Innovation and Emerging Risks: AI and "Black Box" Algorithms -- 2.1 Old Risks in New Forms -- 2.2 New Risks: The Case for Algorithm Opacity -- 2.3 Machine Learning -- 2.4 Opacity of AI-Powered Algorithms -- 2.5 Open the Black Box? -- 3 Explaining the Algorithm: Actual Trendlines -- 3.1 The Algorithm and the Rights of Third Parties -- 3.2 The Early Solution: The Loomis Case -- 3.3 Teachers and the Algorithm: A Sustainability Issue -- 3.4 The GDPR and Decisions Based on Automated Processing -- 3.5 The "Right to Explanation" -- 3.6 One Explanation Does Not Fit All Cases -- 4 The New Challenges for the Compliance Function -- 4.1 The Duty to Explain -- 4.2 Forward Compliance -- 5 Conclusions -- References -- Part V: Corporate Compliance and Law Enforcement -- Stakeholders' Compliance Programs: From Management of Legality to Legitimacy -- 1 Legitimacy and Criminal Liability of Legal Persons -- 2 Punishment as Delegitimization -- 3 The Management of Legitimacy as an Objective of Corporate Social Responsibility -- 4 The Institutionalization of Stakeholder Interests and the Meaning of Compliance Programs -- 4.1 Regulation Theory and Legitimacy -- 4.2 Stakeholders' Compliance Programs -- Institutional Reform of Compliance Programs -- New Procedures -- The Development of Transparency -- 5 Sanctions Systems and Legitimacy -- 6 Conclusions -- References -- Exploring Voluntary and Mandatory Compliance Programmes in the Field of Anti-Corruption -- 1 Voluntary and Mandatory Anti-Corruption Compliance Programmes -- 2 How Anti-Corruption Laws Influence the Adoption and Implementation of Compliance Programmes: Incentives or Obligations? -- 3 Mandatory, Quasi-Voluntary, and Voluntary Anti-Corruption Compliance Programmes. ; 4 Incentivised Voluntary-Based Models Vs Mandatory-Based Models.
• Titolo autorizzato: Corporate Compliance on a Global Scale
• ISBN: 9783030816551; 9783030816544
• Formato: Materiale a stampa
• Livello bibliografico: Monografia
• Lingua di pubblicazione: Inglese
• Record Nr.: 9910510575603321
• Lo trovi qui: Univ. Federico II