There is no substitute for a culture of integrity in organizations. Compliance alone with the law is not enough. History shows that those who make a practice of skating close to the edge always wind up going over the line. A higher bar of ethics performance is necessary. That bar needs to be set and monitored in the boardroom. ~J. Richard Finlay writing in The Globe and Mail.

Sound governance is not some abstract ideal or utopian pipe dream. Nor does it occur by accident or through sudden outbreaks of altruism. It happens when leaders lead with integrity, when directors actually direct and when stakeholders demand the highest level of ethics and accountability. ~ J. Richard Finlay in testimony before the Standing Committee on Banking, Commerce and the Economy, Senate of Canada.

The Finlay Centre for Corporate & Public Governance is the longest continuously cited voice on modern governance standards. Our work over the course of four decades helped to build the new paradigm of ethics and accountability by which many corporations and public institutions are judged today.

The Finlay Centre was founded by J. Richard Finlay, one of the world’s most prescient voices for sound boardroom practices, sanity in CEO pay and the ethical responsibilities of trusted leaders. He coined the term stakeholder capitalism in the 1980s.

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We pioneered the attributes of environmental responsibility, social purposefulness and successful governance decades before the arrival of ESG. Today we are trying to rebuild the trust that many dubious ESG practices have shattered.

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We were the first to predict seismic boardroom flashpoints and downfalls and played key roles in regulatory milestones and reforms.

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We’re working to advance the agenda of the new boardroom and public institution of today: diversity at the table; ethics that shine through a culture of integrity; the next chapter in stakeholder capitalism; and leadership that stands as an unrelenting champion for all stakeholders.

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Our landmark work in creating what we called a culture of integrity and the ethical practices of trusted organizations has been praised, recognized and replicated around the world.

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Our rich institutional memory, combined with a record of innovative thinking for tomorrow’s challenges, provide umatached resources to corporate and public sector players.

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Trust is the asset that is unseen until it is shattered. When crisis hits, we know a thing or two about how to rebuild trust— especially in turbulent times.

We’re still one of the world’s most recognized voices on CEO pay and the role of boards as compensation credibility gatekeepers. Somebody has to be.

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We Have Our Own Fraud Scheme, Thank You..

The Rogues’ Gallery of the increasingly tarnished modern Gilded Age is getting crowded. The Securities and Exchange Commission today accused Robert Allen Stanford, CEO of the Stanford Financial Group, of running a “massive ongoing fraud.” The SEC said the bank division of the group could not account for $8 billion it was supposed to have on deposit in Antigua. Mr. Stanford apparently could not be reached to offer any clarification. In fact, he seems unreachable altogether. Federal officials have placed the Stanford Financial Group in receivership. Investing clients are already lining up claiming losses.

Sir Allen, as he prefers to be called as a result of his knighthood from that island nation, boasted to investors in December of 2008 that his funds were never invested in Bernie Madaoff’s alleged Ponzi operation. We got a hint why today. The SEC thinks he had his own scheme going. He didn’t need anybody else’s.