The VW scandal illustrates the need for comprehensive compliance programs
By Ed Silverstein, 11/1/15
Volkswagen is in the midst of an ethical and compliance nightmare after revelations surfaced about the company tampering with emissions software.
As a result, the scandal may cost the company tens of billions of dollars and damage the VW brand.
Even other German automakers are concerned about the scandal's impact hurting the reputation of their own cars.
“It's damaged the national German brand,” Thomas Fox, a Houston lawyer and contributing editor for the FCPA Blog, tells InsideCounsel. “I’ve never seen a scandal damage a national brand like that…. It changed the nature of compliance.”
The scandal further illustrates the importance of having comprehensive compliance programs.
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