What is statutory compliance?

Statutory compliance

Statutory means "of or related to statutes," or what we normally call laws or regulations. Compliance just means to comply with or adhere to. So statutory compliance means you are following the laws on a given issue. The term is most often used with organizations, who must follow lots of regulations. When they forget or refuse to follow some of those regulations, they are out of statutory compliance. A company that follows all the rules, is in statutory compliance.

Many companies are out of statutory compliance, in part because the cost of following the rule is too high, and/or the consequence is too small to worry about. For example, when you start a new business in most USA cities, you are supposed to go down to the courthouse and file a form stating what business you are now in. If you don't file it, few people will ever notice, and if they do, they usually just tell you to file it now.

Answer to Statutory Compliance

Appendix B provides a list of certain provisions of federal law with which Outside Counsel must comply.

B. Statutory Compliance

Appendix B Outside Counsel Deskbook

Outside Counsel Deskbook Appendix B FDIC December 1, 1998 Page B-3

Acts of October 23, 1989 (Byrd Amendment) as amended 31 U.S.C. § 1352 Prohibits federal government contractors from using monies received from federal contracts, grants, loans or cooperative agreements to lobby Congress or the Executive Branch in order to influence the award, extension or modification of a contract, grant or financial transaction. The Implementation Statement and certification and disclosure forms can be found in Appendix F. Age Discrimination in Employment Act 29 U.S.C. §§ 621-634 Prohibits employers from discriminating on the basis of age. Americans with Disabilities Act 42 U.S.C. §§ 12101-12117 Prohibits discrimination in employment based on a physical or mental handicap. Anti-Kickback Act of 1986 41 U.S.C. §§ 51-58 Prohibits the solicitation, payment and inclusion in contract price of kickbacks related to a federal contract. Assignment of Claims Act of 1940 41 U.S.C. § 15; 31 U.S.C. § 3727 Controls the assignment of federal contract claims. Civil Rights Act of 1964, as amended 42 U.S.C. §§ 2000e et seq. Prohibits employers from discriminating in hiring, discharging, compensation, or terms, conditions, and privileges of employment based on race, color, religion, sex or national origin. Conspiracy to Defraud the Government 18 U.S.C. § 286 Identifies penalties for conspiracy to defraud. Appendix B Outside Counsel Deskbook Page B-4 December 1, 1998 FDIC Contractor Conflicts of Interest 12 C.F.R. Part 366 Implements the requirements of 12 U.S.C. §§ 1822(f)(3) and (4). Refer to Appendix C(3). Debt Collection Improvement Act of 1996 31 U.S.C. § 3332 Requires all federal payments, including vendor payments and expense reimbursements, be made by electronic funds transfer (EFT). Refer to Appendix O. Drug-Free Workplace Act of 1988 41 U.S.C. §§ 701-707 Requires drug-free workplace. Executive Order 11246, 30 Fed. Reg. 12319 (1965), as amended by Executive Order 11375, 32 Fed. Reg. 14303 (1967) Executive Order 11478, 34 Fed. Reg. 12985 (1969) Executive Order 12086, 43 Fed. Reg. 46501 (1978) Nondiscrimination and Affirmative Action for Women and Minorities. Executive Order 12138, 44 Fed. Reg. 29637 (1979) Women’s Business Enterprises. Executive Order 12928, 59 Fed. Reg. 48377 (1994) Promotes procurement with small businesses owned and controlled by socially and economically disadvantaged individuals, historically Black colleges and universities, and minority institutions. False Claims Act of 1863 31 U.S.C. § 3729 Identifies penalties for knowingly presenting false claims. Outside Counsel Deskbook Appendix B FDIC December 1, 1998 Page B-5 False, Ficitious or Fraudulent Claims 18 U.S.C. § 287 Identifies penalties for making or presenting false, fictitious or fraudulent claims. False Statements or Entries 18 U.S.C. § 1001 Identifies penalties for making false statements or entries. Federal Property and Administrative Services Act of 1949 41 U.S.C. §§ 254(a) and 254d Prohibits payment of contingent fees in federal contracts (§ 254(a)) and requires retention of contractor records and authorizes examination and audit of contractor records (§ 254d). Financial Institutions Reform, Recovery, and Enforcement Act of 1989 12 U.S.C. § 1833e(c) Requires establishment of Minority Outreach Program. Forfeiture of Fraudulent Claims 28 U.S.C. § 2514 Identifies penalties for participation in fraudulent claims. Inspector General Act of 1978 as amended 5 U.S.C. app. §§ 1-12 Establishes and identifies the authority of the office of inspector general. Interests of Members of Congress 41 U.S.C. § 22 Prohibits participation by members of Congress in government contracts. Appendix B Outside Counsel Deskbook Page B-6 December 1, 1998 FDIC Internal Revenue Code 26 U.S.C. §§ 6041, 6041A, 6050M Taxpayer Identification Number (TIN) and returns relating to persons receiving contracts from federal executive agencies. International Air Transportation Competition Act of 1979 49 U.S.C. § 40118 Regulates use of federal funds for air transportation. Minority and Women Outreach Program – Contracting 12 C.F.R. Part 361 Implements the requirements of 12 U.S.C. § 1833e(c). Obstruction of Federal Audit 18 U.S.C. § 1516 Identifies penalties for obstructing a federal audit. Rehabilitation Act of 1973 29 U.S.C. § 793 Employment under federal contracts for disabled workers. Service of Process 12 C.F.R. §§ 309.7 (b) – (c) Identifies FDIC’s notification and authorization requirements. Vietnam Era Veterans’ Readjustment Assistance Act of 1974 38 U.S.C. § 4212 Veterans’ employment emphasis under federal contracts.

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