ARTICLE
30 August 2024

Five Compliance Best Practices Every Multinational Company Should Consider For … Drafting Clear Compliance Dictates

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Foley & Lardner

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Foley & Lardner LLP looks beyond the law to focus on the constantly evolving demands facing our clients and their industries. With over 1,100 lawyers in 24 offices across the United States, Mexico, Europe and Asia, Foley approaches client service by first understanding our clients’ priorities, objectives and challenges. We work hard to understand our clients’ issues and forge long-term relationships with them to help achieve successful outcomes and solve their legal issues through practical business advice and cutting-edge legal insight. Our clients view us as trusted business advisors because we understand that great legal service is only valuable if it is relevant, practical and beneficial to their businesses.
As an accompaniment to our biweekly series on "What Every Multinational Company Should Know About" various international trade, enforcement, and compliance topics, below find an update to our series on compliance...
United States Compliance

As an accompaniment to our biweekly series on "What Every Multinational Company Should Know About" various international trade, enforcement, and compliance topics, below find an update to our series on compliance checks that every multinational company should consider. Give us two minutes and we'll give you five suggested compliance best practices that will benefit your international regulatory compliance program.

Drafting clear compliance policies is essential for ensuring that employees understand their obligations and responsibilities in adhering to regulatory requirements and ethical standards. Here are some best practices for drafting clear compliance policies:

  1. Use Plain Language: Write policies in clear, concise, and easily understandable language. Avoid using technical jargon, complex terminology, or legalistic language that may confuse or overwhelm employees, particularly if they are reading the policy in a second language. Define key terms and terminology used in the policy to ensure common understanding among employees, and provide definitions for terms that may be unfamiliar or have specific meanings within the context of the policy.
  2. Organize Content Logically: Organize policy content in a logical and structured manner using headings, subheadings, and bullet points to break down information into digestible sections. Clearly outline key concepts, requirements, and procedures.
  3. Be Specific, Be Detailed, and Provide Examples and Scenarios: Be specific and detailed in outlining requirements, procedures, and expectations within the policy. Provide clear guidance on what is allowed, prohibited, or required in different situations, leaving little room for interpretation or ambiguity. Include practical examples, case studies, and scenarios to illustrate key concepts and demonstrate how policies apply in real-life situations.
  4. Address Roles and Responsibilities: Clearly define roles, responsibilities, and accountabilities for employees, managers, and other stakeholders involved in compliance-related activities. Specify who is responsible for implementing, monitoring, and enforcing the policy.
  5. Provide Accessible Formats: Make policies easily accessible to employees through various channels, such as intranet portals, employee handbooks, or online training platforms. Ensure that policies are available in multiple languages, if necessary, to accommodate diverse audiences.

If you have questions or concerns about this article, please feel free to reach out to the author or your Foley & Lardner attorney. Would you like more practical compliance tips like these? Click Here to Register for our email list to receive future biweekly emails and practical international regulatory compliance tips.

To view all articles in our "What Every Multinational Company Needs to Know" series, click here.

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

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