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The compliance imperative: lessons from the federal sentencing guidelines – the world beyond the guidelines

Richard D. Marshall (Kirkpatrick & Lockhart in New York, NY)

Journal of Investment Compliance

ISSN: 1528-5812

Article publication date: 1 July 2002

Abstract

At the heart of the commentary on recent financial scandals and the legislative response in Sarbanes‐Oxley has been attention to the need for effective compliance programs at corporations to prevent misconduct. Coincident with these regulatory developments, the Federal Sentencing Commission has invited a review of the Federal Sentencing Guidelines, which are now over a decade old. One element of those guidelines, the standards for sentencing corporations, has greatly influenced thinking about effective compliance systems. This article reviews the Federal Sentencing Guidelines in a critical light and distills insights from other authorities to define the elements of an effective compliance program for any organization. The investment advisory industry is used as an example for applying the rules of good compliance.

Keywords

Citation

Marshall, R.D. (2002), "The compliance imperative: lessons from the federal sentencing guidelines – the world beyond the guidelines", Journal of Investment Compliance, Vol. 3 No. 3, pp. 48-61. https://doi.org/10.1108/joic.2002.3.3.48

Publisher

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MCB UP Ltd

Copyright © 2002, MCB UP Limited