This is post is written by Ramsey Kazem, East Coast Vice President at Spark Compliance Consulting A Code of Conduct is a foundational element of any compliance program. This document articulates a company's mission, values, and guiding principles. It defines the standards of business conduct expected from the company's leaders, managers, and employees. Moreover, the Code of Conduct serves as a reference guide for company personnel in exercising their day-to-day job responsibilities and making difficult decisions. Codes of Conduct are not new, but the trends in how you create (or revise) your Code of Conduct have been changing. The importance of an effective Code of Conduct cannot be overstated. Regulatory agencies, as part of any investigation into misconduct, will scrutinize this document to gauge a company's commitment to ethical business practices. Also, the Code of Conduct provides a unique opportunity for a company to promote a culture of compliance by clearly communicating what the organization values and believes in. Companies, therefore, are well-served in taking the time to carefully craft a Code of Conduct that inspires its personnel to further the mission of the company. Here are the top-10 new best practices for developing an effective Code of Conduct: Number 1: Focus on Values and not the Law...
