M. Pleyer: Corporate values are essential to organisations
Donna Kaparti 11:35 - 20 October 2023
The view that the application of compliance rules must be accompanied by ethical values was supported by Dr. Marcus Pleyer, Deputy Director General in Germany’s Federal Ministry of Finance (former President of the FATF), Germany.
Addressing the 9th International Compliance Forum presented by the Bank of Cyprus, the former President of the FATF explained that if compliance officers only follow the law, the result will not be successful, since it was important for them to look at moral values as well. He went on to call for these values to be integrated into organisation’s visions and missions.
In exchange, organisations will inspire trust and a reputation of reliability, he emphasised also adding that, by combating illegal activities, workers were also given a further sense of purpose, increasing their productivity.
Pleyer underlined the importance of organisations seeing the value behind their implementation when following compliance rules.
Coming to the issue of sanctions, he said that they were also linked to specific values. In the case of sanctions against Russia, a country's sovereignty was violated he said, expressing the position that sanctions have shown that war is not the solution in modern times.
The International Compliance Forum is one of the biggest conferences of IMH, and every year it tackles the most important developments around regulatory compliance issues that concern professionals in the field as well as the largest local and international companies. This year’s edition is taking place on 20 October at the Filoxenia Conference Centre in Nicosia.