Compliance Risks. Consistent with C.4.12 of its proposal, the Contractor shall establish and implement an effective system for routine monitoring and identification of compliance risks, including internal monitoring and audits. Compliance risks must be reported to the HHS Contracting Officer Technical Representative (“COTR”).
Compliance Risks. As a registered municipal advisor, the Company will be subject to ongoing compliance requirements, such as those relating to recordkeeping, supervision, supervisory procedures and continuing education, among others. The cost of compliance may be significant, in terms of both time and money. In recent years, state and federal regulators have become increasingly active in conducting examinations and significant penalties may result from compliance failures, including a revocation or suspension of necessary licenses, fines and other disciplinary measures. The imposition of such penalties would be detrimental to the business and operations of the Company. There can be no assurance that the Com- pany’s compliance program will be implemented successfully or that regulatory requirements otherwise will be satisfied. Loss of income resulting from regulatory noncompliance could have a material adverse effect on the operating results of the Company.
Compliance Risks. Consistent with section C.4.12 of its proposal, the Contractor shall establish and implement an effective system for routine monitoring and identification of compliance risks, including internal monitoring and audits. Compliance risks must be reported to the HHS Contracting Officer Representative (“COR”). B.4.18. Coordination of Benefits: Consistent with section C.4.13 of its proposal, the Contractor shall develop and implement a system for coordinating benefits for health and prescription drug claims with other payers as needed. Claims shall be payable under the high risk pool program on a secondary basis to all other coverage.
