What the C-Suite and Board Should Know About the New CCO Certification Requirement from DOJ

Deputy Attorney General Lisa Monaco presented a new policy at a Securities Industry and Financial Markets Association event that requires chief compliance officers to certify that compliance programs have been “reasonably designed to prevent anti-corruption violations.” The policy is an outgrowth of a settlement involving US$1 billion in criminal and civil penalties imposed on mining giant, Glencore International AG, after it pleaded guilty to bribery and market manipulation charges.