What should TQL staff do upon identifying a compliance issue?

When TQL staff identify a compliance issue, the appropriate action is to report it immediately to the Compliance Department for action. This approach ensures that any potential violations or risks are addressed promptly and appropriately by the experts trained to handle such matters. By reporting the issue, staff contribute to maintaining the integrity and compliance culture of the organization, safeguarding against potential legal repercussions and protecting the interests of the company and its stakeholders.

Prompt reporting allows the Compliance Department to investigate the issue thoroughly, implement necessary corrective actions, and establish preventive measures to avoid future occurrences. It also reinforces a proactive approach to compliance, emphasizing that everyone in the organization has a role in upholding ethical standards and regulatory requirements. In contrast, ignoring the issue, trying to resolve it independently, or delaying action until a scheduled meeting could exacerbate the situation and lead to more significant compliance risks or penalties.