Innovation In Compliance With Tom Fox

What is the intersection of innovation in your compliance program and the requirements of an effective compliance program? Today, Tom Fox continues his 5-part series on the front lines of compliance with Hallmark 10 of the Ten Hallmarks of an Effective Compliance Program.Hallmark 10 states that: “A good compliance program should constantly evolve. A company’s business changes over time, as do the environments in which it operates, the nature of its customers, the laws that govern its actions, and the standards of its industry. In addition, compliance programs that do not just exist on paper but are followed in practice will inevitably uncover compliance weaknesses and require enhancements. Consequently, DOJ and SEC evaluate whether companies regularly review and improve their compliance programs and not allow them to become stale.” What does that actually mean? In short, it’s about putting compliance into the fabric of your organization. There are many ways to go about doing this, and one of the most eff