Energy companies regulated by the US Federal Energy Regulatory Commission (FERC) have seen a substantial increase in regulatory activity in the past few years. Though FERC has made some progress in the areas of consistent application and interpretation of the rules as well as transparency of their processes and procedures, it still is a confusing and costly endeavor for companies attempting to design and implement state-of-the-art compliance programs.
One message is apparent: companies absolutely cannot treat compliance as a minimally-intensive area of operational investment. In the past, energy firms were somewhat successful in arguing that rules were ambiguous, violation detection was difficult, and cultural change within the ranks are resistant to the rigors of effective compliance. Those days have passed with FERC’s adoption of their new compliance guidelines. There are specific expectations on how companies prevent, detect and correct violations of FERC’s rules.
In this webinar, we will explore FERC’s enforcement processes and how compliance programs and tools impact a company’s successful navigation of the regulatory challenges facing them. We will have two areas to focus on:
- The types and stages of FERC enforcement actions and how to plan and prepare for them;
- Risk-based approach for developing a robust FERC compliance program
- How to reduce compliance costs with process automation and efficient resource utilization
This webinar should benefit compliance professionals in discussing with senior management the need to elevate the role of compliance within the organization and the nature of the challenge and solutions that can effectively manage the risk of non-compliance and substantial financial and organization penalties from the federal government.
