Maintaining a Financial Institution Code of Ethics and Compliance: Key considerations

» Articles » Banking Articles » Article

April 03, 2015

  • Risk assessment: What areas of the business pose the greatest ethics  and compliance risks, and how can they be addressed?
  • Ethics and compliance personnel: Will a separate ethics and compliance office be created? Will a chief ethics and compliance officer be designated? What seniority/authority will that person have? To whom will he or she report?
  • Role of senior management and board of directors: What will the roles of senior management and board of directors be? What should they do to create the appropriate “tone from the top”?
  • Code of conduct: What form will the code of conduct take? Will it set  out the company’s principles and aspirations or will it be more concrete? How detailed will it be? How will it be communicated to employees?
  • Policies and procedures: What policies and procedures are necessary to  govern employees’ conduct? How can employees be educated and trained on these policies and procedures?

More Banking Articles

About the author:
• Partner in the Washington, D.C. office of Jenner & Block LLP • Practice emphasizes all aspects of white collar criminal defense and internal investigations • Conducts regular seminars and workshops on criminal law and ethics • J.D. degree, Yale Law School; A.B. degree, summa cum laude, Harvard University • Can be contacted at 202-639-6017 or [email protected]

The material appearing in this web site is for informational purposes only and is not legal advice. Transmission of this information is not intended to create, and receipt does not constitute, an attorney-client relationship. The information provided herein is intended only as general information which may or may not reflect the most current developments. Although these materials may be prepared by professionals, they should not be used as a substitute for professional services. If legal or other professional advice is required, the services of a professional should be sought.

The opinions or viewpoints expressed herein do not necessarily reflect those of Lorman Education Services. All materials and content were prepared by persons and/or entities other than Lorman Education Services, and said other persons and/or entities are solely responsible for their content.

Any links to other web sites are not intended to be referrals or endorsements of these sites. The links provided are maintained by the respective organizations, and they are solely responsible for the content of their own sites.