Pub. 7 2018 Issue 6

l e a d i n g a d v o c a t e f o r t h e b a n k i n g i n d u s t r y i n k a n s a s 22 The F our Cs of C ompliance T raining The headlines haven’t slowed. Enforcement actions, fines, citations, penalties and threats of products being discontinued are just some of the challenges facing companies because of the Dodd-Frank Act, the Consumer Financial Protection Bureau and the new regulatory environment. No financial services company is exempt. Regardless of size, your company is required to have a compliance program with training that addresses all of the laws and regulations that pertain to the types of transactions being performed in your business. To develop a strong compliance training program, companies should consider the following four questions: • Is the program comprehensive? • Is the program cost effective? • Does the training program create a culture of compliance throughout the entire organization? • How effectively does your training program demonstrate your company’s commitment to compliance? Regardless of size, your company is required to have a compliance program with training that addresses all of the laws and regulations that pertain to the types of transactions being performed in your business.