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Full-Text Articles in Law
Complex Compliance Investigations, Veronica Root Martinez
Complex Compliance Investigations, Veronica Root Martinez
Faculty Scholarship
Whether it is a financial institution like Wells Fargo, an automotive company like General Motors, a transportation company like Uber, or a religious organization like the Catholic Church, failing to properly prevent, detect, investigate, and remediate misconduct within an organization’s ranks can have devastating results. The importance of the compliance function is accepted within corporations, but the reality is that all types of organizations—private or public—must ensure their members comply with legal and regulatory mandates, industry standards, and internal norms and expectations. They must police thousands of members’ compliance with hundreds of laws. And when compliance failures occur at these …
More Meaningful Ethics, Veronica Root Martinez
More Meaningful Ethics, Veronica Root Martinez
Faculty Scholarship
Firms have exponentially increased their investment in the creation and implementation of ethics and compliance programs over the past fifteen years. The convergence of more robust corporate enforcement actions and more sophisticated industry standards and practices surrounding compliance efforts has created a booming compliance industry with commonly accepted standards and responsibilities. Within these efforts is a formal acknowledgment by the government, industry leaders, and academics that ethics has a role to play in helping to prevent misconduct within firms and that compliance without concern for ethics is insufficient. The reality, however, is that within firms’ efforts to implement effective ethics …
Designing Business Forms To Pursue Social Goals, Ofer Eldar
Designing Business Forms To Pursue Social Goals, Ofer Eldar
Faculty Scholarship
The long-standing debate about the purpose and role of business firms has recently regained momentum. Business firms face growing pressure to pursue social goals and benefit corporation statutes proliferate across many U.S. states. This trend is largely based on the idea that firms increase long-term shareholder value when they contribute (or appear to contribute) to society. Contrary to this trend, this Article argues that the pressing issue is whether policies to create social impact actually generate value for third-party beneficiaries—rather than for shareholders. Because it is difficult to measure social impact with precision, the design of legal forms for firms …