Compliance Report
Report will be on: Northern California Real estate investor pleads guilty to bid rigging at public foreclosure auctions. Article can be found at www.justice.gov (see Justice News section). Reference all websites in text instead of creating works cited page. I will attach article, detailed instructions, and grading rubric to ensure everything is in report.
III. STEPS FOR COMPLETING & SUBMITTING THE REPORT
STEP 1. Learn about Compliance in the Context of corporate governance, risk management, and compliance (GRC).
For brief background information, read the items listed below. You do not need to read each one in detail, nor will you be required to include all of this material in your report. The purpose is to learn about compliance as an on-going essential business activity, and to find resources serving as a portal to primary sources for future use. I find them all very interesting, and after looking at each, you will have a good overview of the increasing significance of compliance functions for U.S. businesses.
A. Google GRC at https://en.wikipedia.org/wiki/Governance,_risk_management,_and_compliance.
[NOTE: NEVER quote from or cite Wikipedia in any academic or professional paper; it is not a credible academic research source! It can be useful in locating quotable, scholarly, primary sources.]
Read the first page/section which defines the term Governance, Risk Management, and Compliance. Have you ever heard this term before? You need to know what it means in order to understand the systems approach to compliance which is becoming the norm in todays legal environment of business.
B. An interesting federal government website is www.dol.gov. Put your cursor on Topics (at top of page) and a page of topic links will appear. Click Elaws. Elaws stands for employment laws assistance for workers and small businesses, providing a wealth of information.
C. Compliance is now a profession with thousands of certified professionals working in many industries. For information on the compliance profession generally, check out the two websites below:
(1) www.careerbuilder.com. (You may need to type this website address in as opposed to copy and paste). Type in the jobs box \”compliance\” (in the dropdown box, specific areas of compliance will appear) and type \”Houston, TX\” in the location box, then hit Search. Open up a few of the job postings to get an idea of what this emerging compliance industry is all about. Other job websites include Indeed.com (type in compliance in what and Houston in where) and www.glassdoor.com (same instructions).
(2) Visit www.corporatecompliance.org to learn about this professional organization. Select the tab About SCCE and read this. Then select the tab FAQ and read these Q and As. This organization offers training conferences and tests that would permit you to earn your certification as CCEP, a Certified Compliance and Ethics Professional. Certification can be a stepping stone for career change and/or enhancement, regardless of the industry you work in now or seek to enter after graduation. There is also an international designation for positions in multi-national corporations, the CCEP-I, if International Business is your interest.
D. Some industries are more advanced in their compliance and ethics efforts than others. The health care industry is a perfect example. Check out the Health Care Compliance Association at https://www.hcca-info.org. Click on About HCCA and read the paragraph about this group. As you can see, there are associations of like-minded professionals who engage in continuing education and training so as to excel in their roles as compliance and ethics professionals.
E. There are numerous associations whose sole focus is assisting businesses in compliance activities. For example, the Open Compliance and Ethics Group is a large non-profit engaged in compliance and ethics support activities. Visit the website at https://www.oceg.org. This site will show you one of the tools available to compliance professionals. Also visit https://www.globalcompliance.com. These websites give you an idea of the education, training, and resources (many of which are free, some you must purchase) needed to thoroughly implement a compliance program.
STEP 2. RECENT COMPLIANCE PROBLEM & ENFORCEMENT ACTION
Part 1: Read about the current enforcement efforts by the U.S. government regulators. Many actions involve laws such as the Foreign Corrupt Practices Act (regarding U.S. companies who allegedly pay bribes overseas to obtain business), the False Claims Act (businesses contracting with the government), the Securities Acts (investments), and others. Recent articles are posted in the Report assignment folder to give you an idea about the approach to enforcement in our legal environment of business.
Part 2: Using one of the websites below (or other approved business website), read about a recent (within the past 30 days) compliance breach, enforcement action, agency and/or court decision, that took place in an industry of interest to you. Be sure to cite your websites URL so that I can locate the article.
https://www.justice.gov/opa/pr/northern-california-real-estate-investor-pleads-guilty-bid-rigging-public-foreclosure-0
Answer the following questions:
A. Identify the industry in which the compliance problem occurred or was alleged to have occurred.
B. What is the non-compliant behavior? When did happen? What laws or regulations were allegedly not followed?
C. When did the regulatory agency and/or court take action on this behavior?
D. What penalties and punishments resulted from this behavior?
E. What steps will be taken by the company to prevent the behavior from happening in the future?
Websites:
1. www.fcpablog.com
2. www.nytimes.com (select Business in the tool bar)
3. www.sec.gov (see Latest News section)
4. www.justice.gov (see Justice News section)
5. https://washingtonpost.com
6. Wall Street Journal (through UHD library periodicals)
7. The Economist (through UHD library periodicals)
8. other approved business periodical send message requesting approval before going forward
STEP 3. YOUR OPINION ABOUT COMPLIANCE
Think about the information you have read in the compliance websites in Step 1, and about the compliance breach and enforcement action you read about in Step 2. Answer these questions:
A. Prior to this assignment, did you know the term GRC? If yes, what is your understanding of GRC, or compliance, risk management, or governance specifically? How would you explain your understanding the role of compliance? Does it impact all business functions, and if so, how?
B. Prior to this assignment, were you aware that compliance is becoming its own industry?
C. What were some of the jobs from the Career Builder website? Do you think a job like one of the listed jobs might be in your future after graduation? Why or why not? What do you think about the salaries you were able to find?
D. Overall, what is your opinion about the role of compliance in business today? As a manager, how do you think you will approach the compliance function?
E. Do you have any additional thoughts about compliance (and/or GRC) in the U.S? Share those here.
STEP 4. REPORT DOCUMENT REQUIREMENTS: CONTENT & FORMAT
The report should be written and submitted in a manner consistent with the following specifications:
A. Use Complete Sentences and Correct Writing Mechanics
Use complete sentences, though listing of specific duties is permitted or requirements is permitted. See the Writing Rubric posted at the end of the course syllabus for guidance on writing mechanics to be assessed. To improve your writing skills, take advantage of the writing tutors. They are available for face to face meetings 3 afternoons and evenings per week at the Northwest campus. To schedule an appointment, go to uhd.mywconline.com, or call 713.237.5400, or visit uhd.edu/northwest. For tutoring in the downtown location, go to the Writing Center in the Academic Skills Lab (920N), but call 713-221-8669 for an appointment. If you review your draft report with a writing tutor prior to submission, and you submit documentation of at least one visit, no points will be deducted for writing mechanics errors.
B. Report Content & Format
The body of your report must be a minimum of 2-3 single-spaced pages (12 point Times Roman font, 1 inch margins for all margins). You may exceed the minimum length if needed. You may reference the websites within your text (as opposed to creating a Works Cited page).
Title Page – The Report\’s title page is separate from the body of the report and must contain the following information in the following format:
Student Name:
Course Name and CRN:
Report Submission Date:
Format the body of the report with these subheadings and content (omit highlighting):
Recent Compliance Problem and Enforcement Action
Refer to Assignment Section III Step 2 Part 2 questions; your responses to these questions go here. If you cannot answer every question, simply state your article did not address that issue.
My Opinions of the Recent Problem and Enforcement Action
This is your opinion, based on the industry, the regulations, the non-compliant behavior, the resulting injuries/harm, etc.
My Opinions of the Role of Compliance in Business
Refer to Assignment Section III Step 3 questions; your responses to these questions go here.
STEP 5: REPORT SUBMISSION INSTRUCTIONS (Follow directions 100% or points will be deducted).
A. Save your report as a Rich Text Format (rtf) file or a Microsoft Docx file. Name the report (your last name)_(your first name)_(Report). Example: Smith_Bill_Report. Do not use ( ) around your names.
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