Module 1: Compliance Flashcards
(13 cards)
What is compliance?
Obeying laws, rules, regulations, or standards.
In what context is compliance generally different in the business world?
It refers to a formal program within an organization that identifies applicable rules and establishes a framework to adhere to them.
What is an example of compliance in sports?
The NCAA has numerous rules and regulations that require compliance.
What specific compliance topics does the NFL address?
- Gambling
- Anti-corruption
- Insider trading
- Conflicts of interest
- Use of social media
- Gifts
- Entertainment
- Privacy
What does NASA have that relates to compliance?
A code of ethics and specific compliance requirements for astronauts.
What federal law requirements pertain to the lending industry?
Specific disclosures must appear in loan advertisements, including those made through mobile applications.
What break requirements does California law impose on employers?
- Half an hour break for every five hours worked
- 10-minute break for every subsequent four-hour period
What is the Social Accountability International Standard 800?
A standard developed to combat problems of sweatshop factories in the garment industry.
What industries require compliance management?
- Pharmaceutical
- Automotive
- Advertising
- Financial services
- Armed Forces
- Politics
True or False: Compliance responsibilities apply to everyone regardless of title or experience.
True
Fill in the blank: Compliance in a job should be considered as inevitable as _______.
[death and taxes]
Who wrote a letter regarding compliance officers in the NFL?
NFL commissioner Roger Goodell.
What are some examples of professionals that have compliance responsibilities?
- Doctor
- Nurse
- Football player
- Astronaut
- Fashion executive
- Manager of a public company
- Power plant operator
