Compliance Program Template Draft (Page 5 of 5) in pdf

Sample

Compliance P rogram

To r ecommend a n a ction p lan f or t he r emediation a nd p revention o f i dentified w eaknesses

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through s uch m eans a s:

Additional t raining

The d evelopment o f p reventative t ools a nd m easures s uch a s j ob a ids, a nd

The r e-‐assignment o f r esponsibilities, a s n ecessary; a nd

To s ummarize t raining t hat h as r ecently b een o r w ill s oon b e c onducted.

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With a ssistance f rom t he C ompliance C ommittee, t he [ Compliance T itle] r eports o n t he c ompliance

performance a nd a ctivities o n a r egular b asis t o t he B oard o f D irectors a nd E xecutive M anagement.

6. R emediation

When m onitoring, a udits, o r e xaminations d etect p rior s erious v iolations o f l aw o r r egulation, t he

Company m ust a ct i n t he f orm o f r emediation. R emediation i s t he c orrection o f i dentified i nstances

where r eimbursement o r o ther c ompensation i s d ue t he C ompany's c ustomer.

In c ertain " high r isk" s ituations i nvolving a p attern o r p ractice o f v iolations, t he r egulations, e xaminers,

or C ompany p olicy m ay r equire r etroactive c orrection i n t he f orm o f a c omplete p ortfolio o r f ile r eview

followed b y c orrection o f t he i dentified p roblems. E xamples o f s uch s ituations i nclude:

Providing i nadequate n otices, o r n one a t a ll

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Not r eporting p roperly

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Exceptions b eyond t he t olerance l evel

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The p erson o r p ersons c reating t he e xception, t o r einforce t heir r esponsibility t o c onduct t ransactions i n

compliance w ith a pplicable l aws a nd r egulations, i deally p erform r emediation, w ith a ssistance f rom t he

Compliance D epartment a nd R isk D epartment a s n ecessary.

7. P revention

The p urpose o f p revention i s t o r educe t he r isk o f e xceptions t o l aws, r egulations a nd p rocedures.

Prevention i nvolves a n i n-‐depth r isk a nalysis a nd/or p ortfolio r eview t o i dentify w here t he C ompany

may n eed a dditional c ontrols. T he C ompany w orks t o p revent e xceptions t hrough t raining, t he

implementation o f p rocedures d etailing t he e mployees' d uties a nd r esponsibilities a s i t r elates t o h is o r

her j ob r esponsibilities, a nd t hrough t he i mplementation o f a dequate m anual a nd s ystem c ontrols.

Page 5 o f 5

Compliance Program Template Draft Page 5