Compliance Risks definition
Compliance Risks means the risks related to the possibility of a breach of applicable laws, regulations, agreements, standards, or bylaws that may, directly or indirectly, lead to financial liabilities, civil or criminal penalty, sanction by the competent regulatory authority, or other adverse effects on the Company or its officers and employees.
Compliance Risks means failing to comply with applicable laws and obligations relating to conduct and ethics.
Examples of Compliance Risks in a sentence
The Corporate Compliance Program features seven key elements: Compliance Governance and Oversight, Culture of Compliance, Identify and Assess Compliance Risks, Control and Mitigate Compliance Risks, Test and Monitor Compliance Risks, Take Corrective Action on Compliance Issues and Executive Reporting.
The groups, along with Phoenix’s internal systems, monitor and communicate with 2 Management on a comprehensive level to prevent potential Strategic or Compliance Risks.