Like many of the really important things in life, corporate integrity and compliance monitors are generally not thought about until they are needed. In a crisis situation forethought is impossible. You’re in the midst of negotiating the terms of a settlement of an enforcement action, and you now have to hire a monitor. This kind of rushed decision making can cost companies dearly in terms of time spent dealing with the monitor, efficiency of corporate operations, money, and lost opportunity to align the company with ethical and compliant business practices.
So let’s plan for something you don’t want and don’t need—yet! What would a successful monitor for your company look like? As former federal enforcements officials, we have worked closely with companies that sought to redeem themselves in the eyes of the government through the use of independent corporate monitors, and, since we have left government service, we have served as monitors ourselves in civil and criminal contexts. This experience can help you plan (and, if necessary, negotiate) an effective corporate integrity and compliance agreement with the right monitor.
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