Navigating Regulatory Compliance
No business owner or manager wants to end up mired in regulatory proceedings for compliance issues. The best defense against government investigations is to implement effective regulatory compliance policies and procedures before the regulators come knocking.
I’m Tim Swain, the founding attorney at Swain LLC. I counsel businesses on implementing thoughtful and effective compliance plans. By taking a proactive approach, I can help you avoid the headaches and expense of regulatory violations.
Why Every Business Needs A Compliance Plan
Businesses at all levels of heavily regulated industries – for example, the legal cannabis and alcoholic beverage industries – face strict scrutiny from government agencies. Violations can result in costly and intrusive government action.
Yet, too many businesses operate without a comprehensive compliance program. Some fear that a compliance program will undercut sales by overly restricting business practices common to the industry. Others want to avoid the costs associated with implementing a compliance program.
And some think there is too little risk of an enforcement action to justify those costs. Unfortunately, they end up paying the price when forced to navigate costly and time-consuming government investigations or enforcement proceedings that can take a toll not only on their business resources, but also their reputation.
Common Pitfalls To Avoid
Some lawyers fail to grasp the intricacies of heavily regulated industries, resulting in compliance programs that are little more than a recitation of the regulations themselves, and not worth the time and money invested in developing and implementing them.
Another pitfall is a failure to seek input from the very employees who will be held responsible for following the compliance program, resulting in a disconnect between a company’s compliance policies and the day-to-day realities of running the business. If a compliance program is too restrictive, the teams bound by it are more likely to try to find workarounds or bend the rules, defeating the purpose of implementing the program in the first place.
What I Do Differently – And More Effectively
I help clients develop, implement, and maintain compliance programs that fit their business model and budget. I craft compliance policies and procedures designed to avoid, deter, and detect regulatory violations, fraud, and other forms of misconduct. I work closely with clients’ key employees to ensure that those policies and procedures work with their business practices, not against them.
The result is a compliance program that employees understand, respect and follow, and that signals to regulators that the company takes compliance seriously.
My compliance services also include employee training, periodic program updates and ongoing advice. Typically, clients hire me to craft effective compliance policies and procedures tailored to their particular business practices, and to provide guidance on general compliance and related questions that arise in the everyday course of business.