Reports from chief compliance officers presented to a board of directors and/or compliance committee must be structured carefully to promote ethics and compliance. Here are five best practices to help guide the reporting.
Quarterly reports. The CCO should report in person to the compliance committee every quarter. If the CCO submits a written report and does not appear before the committee, it reflects a defective relationship. The quarterly report is critical for both the CCO and the committee to hear about compliance performance and challenges.
