Post by xyz3600 on Feb 25, 2024 0:18:13 GMT -6
One of the fundamental principles of corporate compliance that serves to ensure the effectiveness of practices is “ tone at the top ”. The responsibility of senior management to understand, practice and enforce the rules is, without a doubt, the basis of a well-structured and solid compliance program. The logic of this concept is easily understood in a private company, with partners, directors, advisors, committees and employees linked to the company, in most cases, by employment contracts regulated by the CLT. But how should this concept work in a state-owned company or a regulatory agency subject to external interference not always in line with the government project, employees in different legal regimes, among other particularities? The “ tone at the top ” in state-owned companies and regulatory agencies initially arises from the law.
The law establishes rules for corporate governance, transparency, risk management practices and internal control, among other standards common in private companies, with emphasis on the obligation to prepare and disclose a Code of Conduct and Integrity and other compliance structures. In turn, law provides for the management, organization, decision-making process and social control of regulatory agencies, establishing that they Middle East Mobile Number List must adopt “ risk management and internal control practices” as well as develop an integrity program. Furthermore, it establishes ombudsman offices to be the arms responsible for implementing this control structure. However, the force of the law also needs the force of people who, in fact, live and carry out the company's activities, whether private or state-owned, and are subject to compliance – and non-compliance – with the laws and rules.
Leaders’ behavior makes a difference. They are the main multipliers of ethical behavior and compliance with laws. But the training and training of mid-level employees in a state-owned company or regulatory agency is perhaps more important than that of senior management leaders. This is because mid-level, civil servants and career employees represent the institution itself, while leaders, managers or even members of the Executive Branch are ephemeral.In fact, the new law expanded the responsibility of the legislator and the judge provided for in the law of introduction to the norms of brazilian law (article 20), by establishing that any regulation will observe an impact study, so as not to create obstacles to economic development.
The law establishes rules for corporate governance, transparency, risk management practices and internal control, among other standards common in private companies, with emphasis on the obligation to prepare and disclose a Code of Conduct and Integrity and other compliance structures. In turn, law provides for the management, organization, decision-making process and social control of regulatory agencies, establishing that they Middle East Mobile Number List must adopt “ risk management and internal control practices” as well as develop an integrity program. Furthermore, it establishes ombudsman offices to be the arms responsible for implementing this control structure. However, the force of the law also needs the force of people who, in fact, live and carry out the company's activities, whether private or state-owned, and are subject to compliance – and non-compliance – with the laws and rules.
Leaders’ behavior makes a difference. They are the main multipliers of ethical behavior and compliance with laws. But the training and training of mid-level employees in a state-owned company or regulatory agency is perhaps more important than that of senior management leaders. This is because mid-level, civil servants and career employees represent the institution itself, while leaders, managers or even members of the Executive Branch are ephemeral.In fact, the new law expanded the responsibility of the legislator and the judge provided for in the law of introduction to the norms of brazilian law (article 20), by establishing that any regulation will observe an impact study, so as not to create obstacles to economic development.