“Strategy for Creating an Effective Corporate Compliance Program”
I welcome you to check out the new Lexis Corporate Compliance Practice Guide: The Next Generation. My colleagues and I wrote Chapter 43. Specific Corporate Compliance Challenges by Practice Area: Insurance. I wrote the section on insurance coverage for cyber security risks.
Here’s what Lisa C. Coppolo McManus, Legal Content Planner for LexisNexis® Matthew Bender®, wrote:
LexisNexis is providing a free download of a chapter from “The Corporate Compliance Practice Guide: The Next Generation.” An excerpt:
The CEO/President of the corporation should provide leadership for the compliance program. This includes launching the compliance program with the message from the CEO/President. This leadership at the top sets the tone for the compliance program and is an essential element of creating a culture of compliance within the corporation.
Further, top management must ensure the effectiveness of the compliance office by providing necessary personnel and funding. Top management should take a leadership role in fostering the compliance program by supporting the program in their daily activities.
Finally, ”specific high-level personnel,” which usually consists of the compliance officers in the compliance office, should be designated with the responsibility for the day-to-day operation of the compliance program. The chief compliance officer is critical to the success of the compliance program. For the compliance effort to succeed, the chief compliance officer should be afforded access to the CEO/President and the Board of Directors, as well as sufficient funding and staff. A chief compliance officer should be appointed to coordinate the activities of individual compliance ”officers” at subsidiaries. Finally, it is vital that the chief compliance officer and all other compliance officers be known for their integrity and high ethical standards.
For the free download, go to http://tinyurl.com/ylnjeff . Login is required, but it’s free and easy (and no spam!).
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