CORE_2B4_7 Elements of an Effective Compliance Program

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Select the pen in the upper right then draw a line to match each compliance element with its description. Check your answers when you're done to see how accurate you are.You may find it helpful to make the activity full-screen by selecting the full-screen button in the bottom right.

Answers

Designation of a Compliance Officer and Compliance Committee

This information should be put in writing and should be the foundation of your entire compliance program.

Standards of Conduct, Policies, and Procedures

Create effective, ongoing training methods encouraging open discussions while also conveying the company’s expectations.

Communication and Education

Encourage employees to raise concerns, but ensure that a secure, confidential, and timely process is in place to allow anonymity for all informants.

Internal Monitoring and Auditing

Delegate operational responsibility, autonomy, and authority to appropriate individuals.

Reporting and Investigating

If a violation is found, action must be taken. Depending on the perceived severity of the alleged violation, consultation with legal counsel may be necessary.

Discipline for Non‐Compliance

Programs should be evaluated, at minimum, on an annual basis to review for effectiveness in addition to areas of potential risk.

Investigations and Remedial Measure

After a violation is confirmed, steps must be taken to prevent further violations.