An effective compliance program is crucial to many businesses—especially those in regulated industries. Ensuring policies are proactively put in place to mitigate harmful and damaging communication helps businesses adhere to compliance rules set out by regulatory bodies like the SEC, FINRA, FERC, and the DOJ to name a few. However, this is often easier said than done due to the many moving parts and pieces to consider. For example, are your outgoing communications compliant? Are you following the Department of Justice (DOJ) guidelines? Is your compliance training effective? Are your employees communicating on approved or unapproved channels? Explore how Fairwords helps organizations address these items and more in the articles featured below.
How to Reduce Communications Review
Organizations required to archive their communications understand how crucial—but time-consuming— communications reviews are. So how can communications review overwhelm be reduced? Put simply: software that provides training as people type to prevent damaging communications from being sent. For example, an energy commodities trading company came to Fairwords needing to reduce their communications review time. Learn how Fairwords Guide helped them achieve a 64% reduction in communications requiring review after six months.
Identify Unapproved Communications Channels
It’s no secret that, in the United States, banks are paying hefty fines for communications that are occurring on unapproved channels (over $1 billion collectively). Compliance officers are looking for ways to detect unapproved communciations channels, especially with the prevalence of remote and hybrid work, in order to mitigate risk and prevent hefty fines for non-compliance. Learn how Fairwords helps our clients with this challenge so they can ensure their compliance programs are effective and aligned with regulatory requirements.
Fulfill and Exceed DOJ Guidelines
The DOJ guidelines direct federal prosecutors and sentencing judges to evaluate corporate compliance programs. It’s clear from the DOJ’s guidelines that just having a compliance program is not enough; it must work and be dynamic and continually updated to align with new circumstances. Compliance is a business process that can be measured, managed, and improved. To help with that process, we put together a resource that lists DOJ guidelines and illustrates how Fairwords can help fulfill and exceed the DOJ requirements.
