Publication
Transport, Trade and Logistics Update
A new form of security following the declaration of general average (GA) has the market wondering if a real change has occurred.
United Kingdom | Publication | June 2022
Transparency International has published its 2022 Values Added Report, which provides useful pointers on the practical steps companies can take to enhance their ABC frameworks by incorporating a values-based approach.
The Report’s recommendations are consistent with the broader shift away from a purely rules-based compliance approach, towards a model in which employees are empowered to navigate grey ethical areas by reference to corporate values and culture.
This shift reflects what we are seeing from the SFO, FCA and US authorities, which are all placing increasing emphasis on corporate culture and values when evaluating ABC compliance programmes.
The Report sets out the following key steps in implementing a values-based ABC programme.
While values-based ABC programmes are nearly always more effective than purely rules-based programmes, our experience is that an ABC programme based on both rules and values works best. A combined approach provides clarity to employees where the company has fixed rules (e.g. gifts and entertainment limits), but also enables employees to identify more complex ethical issues.
Publication
A new form of security following the declaration of general average (GA) has the market wondering if a real change has occurred.
Publication
There is much talk currently about South Africa standing at a political cross-roads, in relation to its ability to make the newly formed Government of National Unity work (and to unlock the legion economic and social benefits that would flow from making it work).
Publication
The Lloyd’s Open Form has been the maritime industry’s preferred form of agreement for salvage for over a hundred years. In response to industry concerns and the declining number of LOF contracts being concluded each year, an update to the Form was published in June this year.
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