Compliance with Dodd-Frank might not be as complicated as feared; however, companies must be vigilant in order to maintain the relevant exemptions.
Penalty Predictability Enhanced
FERC modifies its enforcement guidelines.
to subtract from its base culpability score. A seven-item, § 1B2.1(b), effective compliance program checklist includes: established standards and procedures; program responsibility appropriate to the governing authority, high-level personnel, and specific individuals; exclusion of individuals engaging in violations from substantial authority personnel; periodic, practical communication of standards and procedures, including training programs; monitoring, auditing, evaluation of effectiveness, and a system to report or seek guidance on actual or potential violations; consistent program promotion and enforcement; and, after detection, steps to respond and prevent further similar violations. A program not meeting in some fashion all items on that checklist can receive partial credit. Revised policy statement, PP 115-19. Credits for other mitigation factors are available on an unbundled basis. Id., at PP 127-29, 140-45, 147-48, 150, 152, 154, 157-58, 191.