Years ago when I was still in-house, I was having a drink with The Oracle (who’s 99.99% right about everything) and I told him I was thinking of lobbying for a “compliance committee” in my company. Instead of his usual encouragement, to my surprise, he responded with a scowl and a bark: “I hate compliance committees.” Oh.
I know now what he meant. To paraphrase a comment from a recent RAND symposium
on hot compliance issues of the day: “There are good [compliance] committees and there are bad [compliance] committees, and there are a lot more of the latter than the former.” . . .