SNC-Lavalin and the Corruption of Public Discourse

Canada’s SNC-Lavalin affair has been compared to the U.S. Nixon Administration’s Watergate scandal, but the comparison is misguided. This article seeks to separate fact from misinformation in order to enable more constructive public discourse about the scandal. The second goal is to make the case for embracing negotiated settlements as a legitimate corruption-fighting tool based on the author’s experience as a financial-sector whistleblower during the dotcom era (which led to a long career as an investigative journalist covering white-collar crime). Finally, this article identifies key takeaways for managers and directors who are expected to drive growth and profit without breaking the law. In the SNC-Lavalin affair, an opportunity to improve how Canada fights corporate corruption appears to have been lost in the commotion. When fighting corruption, it is important to remember that organizations like SNC-Lavalin can also be victims, and that corporations do not decide to be corrupt—people do. Many corporate boards still rely heavily on senior management to report cultural issues, which is ridiculous, and not just because unethical executives rarely rat themselves out. It is time for more boards to proactively investigate the health of the corporate cultures they govern and doing this requires direct contact with lower-level employees, especially ones in specialist functions such as internal audit, compliance, and risk management.

• Fintech leadership
• Banking sector disruption
• Canada's fintech ecosystem
• Lendified