Here are the feds' 7 tips for corporate compliance plan
Here are the feds' 7 tips for corporate compliance plan
The seven elements as listed in the Federal Sentencing Guidelines are as follows:
1. assigning a high-level person or group to oversee the plan;
2. establishing rules and procedures that will reasonably reduce the prospect of illegal or wrongful acts;
3. instituting policies that prevent assignment of substantial discretionary authority to people that the company knew or should have known had the propensity to commit illegal acts;
4. ensuring effective communication of program rules and procedures to all employees;
5. taking reasonable steps to monitor and audit operations to detect criminal conduct including establishing a system for anonymous reporting of suspected illegal conduct;
6. using disciplinary procedures, employee annual review, and employee counseling programs to instruct employees on instances creating the duty to report suspected criminal conduct;
7. establishing appropriate responses to offenses and amending ineffective compliance plan procedures to prevent offenses when necessary.
Subscribe Now for Access
You have reached your article limit for the month. We hope you found our articles both enjoyable and insightful. For information on new subscriptions, product trials, alternative billing arrangements or group and site discounts please call 800-688-2421. We look forward to having you as a long-term member of the Relias Media community.