Violation tracker - enforcement & shaming excellent for trust!

Trust thought for today - about enforcement and shame as drivers of trust in governance.

One of the key findings of my trust project was the importance to public trust of seeing that governance is working; that misdemeanours are punished and companies held to account. This great project highlighted below - Violation Tracker - does a great job in showing that governance is working and also important, making more open, and naming and shaming companies for their wrong doings.

First analysis: “Major banks account for most of the largest newly reported penalties. NatWest was fined £264 million for failing to comply with anti-money laundering regulations. HSBC was penalised £63 million for similar issues. Standard Chartered was fined £46 million for failings in reporting and internal controls.”

As a result of the NatWest and HSBC cases, the Financial Conduct Authority accounted for the largest monetary penalty total among the more than 40 regulatory agencies covered by Violation Tracker UK (the Standard Chartered case was brought by the Prudential Regulation Authority). In terms of the number of cases, the leaders were the Employment Tribunal (1,025) and the Health and Safety Executive (965). Only cases with adverse findings against a company (not individuals) are included.”

Update announcement of violation tracker here

Important job, congratulations Philip Mattera and team.

“Violation Tracker is the first wide-ranging database on corporate misconduct. It covers banking, consumer protection, false claims, environmental, wage & hour, safety, discrimination, price-fixing, and other cases resolved by federal regulatory agencies and all parts of the Justice Department since 2000 -- plus cases from state AGs and selected state regulatory agencies. In all: 502,000 civil and criminal cases from more than 300 agencies with penalties of $774 billion. We also cover selected types of class action lawsuits. Violation Tracker is produced by the Corporate Research Project of Good Jobs First.”

Update announcement of violation tracker here

Homepage here
https://lnkd.in/dmyJaS4F

Thanks Roger Miles for the reminder.

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Repost of this by Roger Miles

The mighty #socialjustice engine that is #ViolationTracker has just reported its first UK update. There's of course a continuing critique about how far it's the highest-profile brands that inherently attract the most attention from publicity-hungry #regulators. Nevertheless, VT's great strength is how clearly it reveals patterns of "serial recidivism".

An essential new tool for anyone in the corporate world who's serious about triangulating their brand's claims to #ESG responsibility, good #conduct and consequence-conscious #riskculture.

Kudos to Philip Mattera and team for this terrific monitoring service that calls out habitual #greenwashing, #astroturfing, #wagetheft and many other forms of unethical behaviour.

#cultureassessment #purposefulbusiness
Hannah Duncan Rachel Wolcott Alison Taylor Peter Ewing Henry WhiteHelen Gale Bryan Foss Martine Bond Good Jobs First UK Finance Financial Conduct Authority Financial Reporting Council Transparency International