How the Role of Corporate Compliance Monitors Can Get Murky
Being under a corporate monitor's microscope isn't ideal, but there are steps that companies can take to ensure that the process is effective and leads to sustainable results.
April 15, 2019 at 03:55 PM
4 minute read
Clarity, cooperation and compromise are key parts of the relationship between corporate compliance monitors and the companies they watch. But when the parameters of those relationships are ill-defined, the give and take can get lopsided, according to compliance experts.
The issue of flawed company-monitor relationships came up last week, when a federal judge in Miami raised concerns about Carnival Corp.'s compliance monitor not having enough power to spur systemic change at the cruise line. The company was in court April 10 for allegedly continuing to dump pollutants at sea in violation of an earlier probation agreement.
After the hearing, a Carnival spokesman asserted in a written statement that the cruise line heard the judge's concerns and “will do our utmost to ensure we meet all expectations under the [Environmental Compliance Program] and continue to strive to be best in class on environmental compliance.” He declined to comment beyond the statement.
NOT FOR REPRINT
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Trending Stories
Featured Firms
Law Offices of Gary Martin Hays & Associates, P.C.
(470) 294-1674
Law Offices of Mark E. Salomone
(857) 444-6468
Smith & Hassler
(713) 739-1250