Is Your Compliance Department Real and Alive?


Speaking at the IQPC 2010 Internal and Regulatory Investigations in Oil and Gas Conference, Nick Lumley, General Counsel of Centrica Storage, discussed how Centrica is using compliance policies and procedures as a business enabler. As a relatively new corporate entity, Centrica was able to create its own Code of Conduct and compliance culture within the past decade. Lumley emphasized that neither he nor the Company wanted a checklist culture of compliance but one that was vibrant within the Company.

One of the key items stressed by Lumley to make compliance vibrant was not only that a culture of compliance had to be real and alive within a company, but that the Compliance Department itself must also be real and alive. By this he meant that the Compliance Department had to be not only flesh and blood people that the rest of the company could relate to but the department had to be an active part of the company’s business.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Thomas Fox, Compliance Evangelist | Attorney Advertising

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