Over the past several decades, enforcement authorities and multilateral development agencies have increased their focus on investigating and prosecuting fraud and corruption in a variety of industries. Corporations are required to develop comprehensive ethics and compliance programs to adhere to an assortment of federal, state and foreign laws and regulations, to minimize risk and avoid legal repercussions and reputational damage. Industry and ethical standards for corporate behavior have also been critical.
In the current climate, multinational corporations have created dedicated ethics and compliance teams led and staffed by well-trained professionals. Compliance teams design, implement and oversee measures that seek to prevent, detect, and respond to violations of the myriad laws and regulations as well as industry and ethical standards. Compliance and ethics have become a critical issue to CEOs, Boards of Directors and enforcement authorities.
Compliance professionals with the right training, experience and skills are in high demand. Compliance and ethics has emerged as its own field meriting focus in higher education and affording meaningful opportunities for academic research and scholarship. Temple Law’s Center for Compliance and Ethics was established in 2015 to address these trends.