One of the most clear-cut lessons to take away from the federal government’s $77 million penalty Thursday against Zurich-based Credit Suisse Group AG is that general counsel must “operationalize” their companies’ compliance policies.

“It is not enough to have a global statement on paper barring something,” said attorney Julie Myers Wood, CEO of Guidepost Solutions, an investigations and compliance consulting firm with offices in New York and Washington, D.C. “General counsel have to think about how those policies will be carried out, and about training all the people who control functions to execute on the policies.”

This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.

To view this content, please continue to their sites.

Not a Lexis Advance® Subscriber?
Subscribe Now

Not a Bloomberg Law Subscriber?
Subscribe Now

Why am I seeing this?

LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.

For questions call 1-877-256-2472 or contact us at [email protected]