EuroSox - Newsletter

Welcome

SocGen has plenty of internal cops at its high-security headquarters in the La Défense enclave of Paris. The bank's annual report for 2006 devotes 26 reassuring pages to its risk-management practices; more than 2,000 staff worked in the function that year, and lots more bodies were added in 2007. Yet a single trader could take enormous unauthorised bets creating an unhedged €50 billion exposure to European futures markets.

News

Adopting the 4th and 7th directives

All over Europe the national parliaments are introducing legislation to adopt the 4th, 7th and the 8th EU directives that together (along with a few other) form the basis and platform for EuroSox®. Send us an email if you wish to know the details of the legislative schedule in implementing the 4th, 7th, and the 8th directives.

Best corporate governance outperform worst by 18 pct

Good governance does result in out performance over the medium term. Companies who breach Governance, Risk and Compliance guidelines, underperformed the average industry by 3-5 percentage points a year. In other words yet another report proves that Good governance is the cause of good valuations.

News on Eurosox.dk

The Lagarde Report

The Lagarde Report was issued by the French government in February 2008. It details the lack of controls at Societe Generale as the primary reason for the huge losses by the bank.

Advantages of an improved control environment

In this Newsletter we feature internal controls as a visual representation of key Governance, Risk, and Compliance initiatives as part of our special edition on The SocGen Scandal.

Managing Risk

All decisions involve some level of risk. Even your decision to read or not to read this article, also involves some uncertainty.

Measuring and Monitoring Risks and Responsibilities

There are still a few companies and executives from the ‘old school’ that regard compliance as an unwelcome, bureaucratic and expensive intrusion. Agile companies however, are striking a balance between compliance goals and performance goals and creating a competitive advantage.

Special offer to The EuroSox Newsletter subscribers

There are only 4 weeks for The Executive Briefing on EU directives and Copenhagen IT Compliance Conference 2008. There is much excitement and buzz surrounding the EU directives that together form the platform of ‘EuroSox’ Governance, Risk and Compliance issues, not forgetting the entire field of IT issues. Therefore we are gearing up for an incredibly thought provoking and successful conference.

Please make sure you register your place by Monday 7th April 2008 to receive a complimentary book on the subject of Governance, Risk and Compliance.

Note: As a subscriber to the EuroSox Newsletter, you are also entitled to receive a 30% discount on a wide selection of books from Wiley.

Preview of the next newsletter

If Corporate Governance is expensive. Try non-compliance.

Financial Institutions and The Pharmaceutical industry are definitely aware of the costs of non-compliance. There are still a few Corporations that treat corporate governance, risk and compliance as an economic dilemma. Compliance incurs cost, which easily can be determined. The benefits of corporate governance are more ambiguous. Increased attractiveness to potential customers, employees, lower cost of capital, detection and preferably prevention of breaches of internal controls are benefits.

Our next newsletter reflects on corporate governance developments in order to help better understand cost and benefit decisions.

The information contained in this newsletter is provided for informational purposes only. While efforts were made to verify the completeness and accuracy of the information provided, it is provided “as is” without warranty of any kind, express or implied. Controllers ApS shall not be responsible for any damages arising out of the use of, or otherwise related to, this newsletter. You can subscribe here or, if you are already a subscriber, unsubscribe here. Copyright 2006-2009 Controllers Aps.