An overarching compliance program coordinated with risk management can protect energy companies from today’s new regulatory realities and provide new opportunities for value.
Energy companies today must make a strong effort to monitor compliance and cooperate fully with law enforcement when required. A proper compliance program, working together with risk management, can help bring critical issues to light. While no company is immune from individuals believing they are above the law, or in fact not understanding current regulations, but regulators prefer that energy companies take a proactive approach to compliance and risk management. An active, engaged compliance function can show a “good faith” effort to self-police.