Trust Digest 77 (December 16, 2014)


Can Big Data Help Build Trust in the Police?
In November, a controversial grand jury decision not to indict a police officer in the shooting death of Michael Brown, an unarmed black teenager, rocked Ferguson, Missouri with unrest, spurring a national conversation on police-community relations. On December 1, the White House responded by announcing the creation of a Task Force on 21st Century Policing. The national conversation continued as a second grand jury declined to indict police in the death of Eric Garner—also African-American, also unarmed—on December 3.
Key Words: Trust Repair, Big Data, Law Enforcement
Trust Issues: Transparency, Accountability


To Restore Trust in Banks, Build Ethics into Business Decisions
Trust is the bedrock upon which the banking business is built. However, revelations of unethical conduct at some banks have put that trust at risk. Senior officers of the Federal Reserve and other financial regulators recently met with management at leading banks to emphasize the need for a stronger ethical culture in the wake of activities like Libor manipulation, front running in high-frequency trading and money laundering cover-ups. William Dudley, the president of the Federal Reserve Bank of New York, said in a recent speech that there should be a "consistent application of 'should we' versus 'could we' in business decisions." The Financial Conduct Authority in the United Kingdom has expressed similar concerns.
Key Words: Ethics, Banking, Compliance
Trust Issues: Responsibility, Integrity


Be careful, an ethical mistake can be fatal to your career          
It is often far harder to recover from an ethics mistake than an ordinary mistake. While an ordinary mistake may reveal a lack of knowledge or attention, an ethical mistake colours perception of everything a person does. When caught in an ethical mistake, admitting to it often does not settle the matter. Doubt remains about the character of the person who made the mistake.
Key Words: Ethics, Trust Repair, Decision Making
Trust Issues: Capability, Responsibility


Dodd-Frank under fire in trading case
A new law against placing and quickly cancelling bid orders to sway others to trade was “hopelessly vague” and prosecutors over-reached by bringing the first criminal case against a high-frequency trader, according to a motion to dismiss the case. Citing weaknesses in the anti-”spoofing” provision of the 2010 Dodd-Frank financial reform legislation is a critical part of the defence of Michael Coscia, the first person to face criminal prosecution for the practice.
Key Words: Dodd-Frank, Spoofing
Trust Issues: Regulation, Accountability


The OECD Foreign Bribery Report: ‘Too Big to Debar’
“Your criminal actions raise serious questions as to whether you have the requisite personal integrity and business ethics to be a responsible Government contractor.” That’s me. I was debarred from being a government contractor, and based on my conduct and offense it was an appropriate and fair decision. The process by which I was suspended and ultimately debarred was also fair and appropriate. Furthermore, the protocol the government afforded me in terms of providing an opportunity to address the length of the debarment (it was reduced by one year) was also quite reasonable and objective. So what does that have to do with the OECD Foreign Bribery Report? (link here) Well, according to the report, of the 427 cases used by the OECD for its data set, two resulted in debarment. The OECD defines debarment as relating “to the additional non-automatic sanction of provisional exclusion from participation in national public procurement processes for a set period.”
Key Words: Bribery, OECD, Government Contractors
Trust Issues: Integrity, Accountability, Regulation


Seven Key Actions to Accelerate Your Ethics and Compliance Program
We always hear (and talk about) the rise in the compliance profession. Yes, there is increased demand for CCOs and compliance officers. More lawyers are transitioning into the compliance profession.Out in the real world, however, there are CCOs who are under the gun – they are being asked to do the impossible. CCOs are being hired and asked to take over a non-existent or minimal compliance program, and transform the compliance program into a state-of-the-art program.
Key Words: Ethics and Compliance, CCO
Trust Issues: Capability, Responsibility


New Secret Service Chief Joseph Clancy: Let Us Prove Ourselves
The new leader of the Secret Service says the agency wants to earn back Americans' trust. In his first television interview since becoming acting director, Joseph Clancy told "NBC Nightly News" anchor Brian Williams that scandals and security lapses, including a breach of the White House by a knife-wielding intruder, have shaken confidence in the agency.
Key Words: Secret Service, Joseph Clancy, Trust Repair
Trust Issues: Capability, Communication, Culture


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