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Ethics & Compliance

St Thomas Acquinas and Fair Dealings

Given the recent troubles of Toyota, a brand founded on the notion of product quality and customer value, we thought it fitting to pay tribute to St. Thomas Acquinas and his contributions to standards of business conduct focused on a buyer's right to fair dealings. This is an excerpt from Steve Henn's book, Business Ethics, A Case Study Approach.

Related: Toyota's Problems Loom Large even after HearingsGovt Demands Toyota Recall Documents | Toyota Investigating Corolla Steering Problems

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  News & Insights

Former Madoff Aide Charged with Cooking Books
Bernard Madoff's claim to have pulled off his multibillion dollar swindle without assistance fell apart further, as one of his longtime aides was charged with helping him cook the books.

BofA, SEC Settle Suit over Big Bonuses
New York judge Jed Rakoff has agreed to let Bank of America settle its lawsuit with the Securities and Exchange Commission, but he had harsh words for both sides.

U.S. SEC Announces $67 Million Fair Fund Distribution in McAfee Fraud Settlement
The SEC announced the distribution of approximately $67 million to more than 16,000 investors in connection with McAfee financial fraud settlements.

More Say It's OK to Cheat on Taxes
The fear of being audited on their income taxes is rising, one poll shows, even as more Americans say it's OK to cheat on a return.

IRS Welcomes Tips From Current Employees About Corporate Tax Cheats
In an about face from its previous position that prohibited the IRS from accepting information from whistleblowers that were employed by a taxpayer, the IRS has now adopted a position to consider the facts before deciding how to utilize inside information.

Former Kmart Head Ordered to Pay Millions
A judge ordered a former Kmart CEO to pay more than $10 million for misleading investors before the retail chain filed for bankruptcy protection in 2002.

First Quarter SEC Settlements Jump
The Securities and Exchange Commission (SEC) settled with 205 defendants in its first quarter of fiscal year 2010, compared to 181 in the previous quarter and 123 in the first fiscal quarter of 2009, according to NERA Economic Consulting's fiscal first quarter 2010 SEC Settlements Trends report, released today.

Risk Processes, Oversight Roles after Downturn
Majority of directors, management see economic recovery elusive. They cite concerns on talent and other risks related to cost-cutting.

Watchdog: Bailouts Created More Risk in System
The government's response to the financial meltdown has made it more likely the United States will face a deeper crisis in the future, an independent watchdog at the Treasury Department warned.

American Express CEO Gets 60 Percent Salary Raise
The CEO of American Express Co. is getting a 60 percent raise in his base salary.


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