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What is Construction Law?
Here at ReelLawyers we’ve interview some of the best Compliance attorneys in Minneapolis and the surrounding Twin Cities area.
Construction Law Explained
Coming Soon! Compliance is the intersection of law, business, accounting, and ethics. And it’s important for a number of reasons. First, it helps the company manage their legal and regulatory obligations. Second, it helps a company improve their operational efficiency and the assessment of their efficiency by ensuring consistent conduct and eliminating wasteful or injurious practices. And third, a compliance and ethics program can help institutionalize a culture within a company, which is important to increase the effectiveness and adherence to a company’s regulatory obligations. The driver behind compliance and ethics programs is the Federal Sentencing Guidelines for Organizations, and if a company implements an effective compliance program, that can serve as affirmative def
Compliance and Civil Litigation
There’s a lot of similarities between compliance and civil litigation. Compliance has, first, a proactive function, in that it helps develop a company’s policies and programs to avoid litigation in the first place. And, second, it’s very reactive. In the event that a company’s subject to an enforcement action or a government investigation, an experienced compliance attorney can come in and assist and manage that investigation and enforcement action. And, oftentimes, civil litigation results from breaches of a company’s compliance programs. For example, shareholder litigation based upon a company’s institutional failures can occur, so it’s important to have an experienced litigator who understands both the compliance and the civil litigation side to guide a company through that program.
Important Aspects of a Compliance Program
There are really seven critical elements of a compliance program, and those are guided by the Federal Sentencing Guidelines for Organization. But perhaps the most critical elements of those seven are to develop a code of conduct that a company can implement to guide their operations, and develop a process by which the company can monitor and assess its performance according to that code of conduct. In addition to that, it’s important to have disciplinary and training programs for employees for violations of the code of conduct, because when there’s a government enforcement action or some sort of investigation, that’s really what regulators are going to be looking at and concerned with, whether a company satisfied its obligations in administering the code that it implemented.
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ReelLawyers features immigration attorneys discussing topics including Construction Law trends, assessing and managing risk, ethics, and other topics.