The Securities and Exchange Commission (SEC) announced that Tracey L. McNeil has been selected as the first ombudsman for the agency. Ms. McNeil will begin her new post on September 22. She currently is a senior counsel in the SEC’s Office of Minority and Women Inclusion (OMWI), an office created by the 2010 Dodd-Frank Act. In this position, she has advised the director of OMWI in establishing the office and has worked to ensure the fair inclusion and utilization of minorities, women, and minority-owned and women-owned businesses in all business and activities of the agency. Continue Reading →
Tag Archives | ombudsman
Testimony of James McRitchie
As the Harold Stassen of CalPERS, having run for the Board more times unsuccessfully than anyone else, I have some experience with the governing rules and favor the actions recommended by staff but with additional improvements to recommendation 2, CEO Certification. Continue Reading →
Last year I attended the NACD Directorship 100, proud to be listed again a worthy of being watched. This year, even though so honored, I won’t be able to make this important learning event. Learning event? Aren’t these functions mostly just networking opportunities? They are both. No one should question the value of such functions as networking opportunities. Who better to meet than the Directorship 100 (and even the ones to watch)? But I just noticed the October edition of NACD Directorship provides evidence of learning beyond even what those putting on the event might have expected. Amazingly I may have played a small part in it. Continue Reading →
A whistleblower who helped the Securities and Exchange Commission stop a multi-million dollar fraud will receive nearly $50,000 — the first payout from a new SEC program to reward people who provide evidence of securities fraud. Continue Reading →
I heard Charles L. Howard discuss working on ombuds issues and his book The Organizational Ombudsman during panel presentations at the Silicon Valley Chapter of the National Association of Corporate Directors and at Stanford University. With all the advantages such offices offer to corporations I was wondering why more corporations haven’t set up programs.
At the recent NACD Directorship 100 program I asked that question during a panel focused on whistle-blowing and other mechanisms to report and resolve ethical issues. None of the panelists had any experience with organizational ombudsman at the companies they represented. Looking to the audience of several hundred, they too Continue Reading →
Why are corporate employees unwilling to report serious misconduct? Why are they also frequently unwilling to share good ideas for improving products, services and business processes? Fear of retaliation is most often cited for the failure to report misconduct; a sense of futility for the failure to suggest improvements. All too often, employees have a low level of trust in both management and the board.