Importance of a Compliance Program in Business Development

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In our business environment, when talking about “Compliance” or regulatory compliance, there is a general belief that it is only about the Prevention of Money Laundering (PLA), or about anti-corruption issues; but that approach is limited. “Compliance” also applies to other areas such as antitrust activities, personal data protection and compliance with environmental regulations, as well as other activities carried out by each company depending on the market in which it operates.

Compliance refers to the set of appropriate procedures and policies to ensure that a company and those who comprise it comply with the regulatory framework applicable to the line of business. This regulatory framework, in addition to the laws, also includes internal regulations, codes of ethics and policies for managing relationships with suppliers and/or customers.

This entire set of policies and procedures that the company develops to avoid sanctions is known as the “Compliance Program”, with which the following objectives are intended to be achieved:

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