The Champion

May 2007 , Page 22 

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What's Really So Important About an Effective Compliance Program?

By Marc S. Raspanti

Every major corporation in America has, as a stated goal, the need for “an effective corporate compliance program.” The stark legal reality, however, is that an effective compliance program cannot be an idle aspiration that will be addressed when limited corporate time and resources permit. Why? The absence of an effective compliance program may result in enhanced criminal and civil exposure for a corporation. This risk is not theoretical. Rather, existing law provides that an effective compliance program is essential for a corporation to reduce or eliminate corporate criminal and civil liability. The result is that compliance issues will continue to be a significant factor in any corporate civil or criminal proceeding. Accordingly, corporations must recognize that an effective compliance program, or more important, the absence of such a program, may pose critical exposure risks, both criminal and civil.

Compliance Programs Are Essential to Reduce Cor

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