Ethics and Compliance

Ethic and Compliance Paper

University of Phoenix

Kristina Turnipseed

July 28, 2011

Ethics and Compliance Paper

In the organization of Disney, they use different methods and process to comply with the SEC regulations. Walt Disney believes that they should conduct their business in the highest standards of business ethics and comply with the laws, rules and regulations that are set forth. In order to comply with these rules and regulations they have set out to adopt a code of Business Conduct and Ethics for its Directors. Under this code they must represent the interest of the shareholders of The Walt Disney Company, exhibit high standards of integrity, commitment and independence of thought and judgment, and to dedicate their time, energy and attention to ensure the diligent performance of his or her duties (Disney.com, 2011). They also make sure they are in compliance with the SEC by ensuring that all directors are avoiding conflict of interest situations such as their private interest conflicting with the interest of that of Walt Disney’s interest and any of its subsidiaries. Therefore they will comply with the SEC if they do not give away any personal benefits to close relatives or friends improperly due to their position in the company. Walt Disney also has a compliance that directors not compete with the Company or use opportunities that are discovered with the use of company property or improperly use or waste company assets. Disney requires strict compliance of its members with applicable laws, rules and regulations. These include all securities law and federal, inside trading laws, and Disney’s inside trading policy. These directors also have to comply with not taking unfair advantages of the Company’s employees, customers, suppliers, and competitors through abuse, misrepresentation, and manipulations type practices. Directors have to take accountability for their actions as part of the compliance with the SEC codes and regulations (Disney.com,...