The Role of Compliance in Your Business
I came across a post on the Facebook 7k Exclusive Page a few weeks ago that really caught my attention. A member asked the question: What was the main reason you joined 7k Metals?
I was tempted to respond to the post but decided to wait and read the comments that were coming in. It was pretty amazing to see that all of us have reasons, some that we have in common, and some that are unique. We all have our WHY.
I’m sure my perspective is different than yours. I’m not only a member of 7k, but also an employee of 7k. When I was pursuing employment here there were several things that caught my attention. I knew during my first interview that I wanted to be a part of 7k. There were many things that stood out to me, but one that caught me on more than one occasion; the co-founders and CEO expressed then, and continue to express to me now, that they want to ensure the company operates legally and ethically. I am proud to be part of an organization where integrity matters.
Joining 7k has been one of the greatest blessings of my life. I am committed to helping in any way to ensure that it is for you as well. I want 7k to be a long-term company that enriches people’s lives all over the world. This is possible if we all strive to make our businesses compliant with the law and company policy and procedures.
There are many companies that are here one day and then gone the next because they failed to see the importance of legal compliance. Can you think of any? I would bet that if you dug in and researched why they failed, compliance would be one of the main causes.
Laws dictate how we conduct our business. There are things that we simply can and cannot do. Regulators in our industry have authority to sue for monetary damages, freeze assets, shut down business, and even take away your personal freedom if business is not conducted in a legal and ethical manner.
We are working to build the ‑nest compliance program in the industry. We are working diligently to provide you with resources that will help you protect your business from the constant scrutiny and regulation of our constantly evolving industry. Some of these resources are already available to you.
That being said, I would encourage you to start today and educate yourself by taking advantage of those resources. Read the 7k policies and procedures and become familiar with them. You can find it at the bottom of our website. Are you familiar with our Income Disclosure Statement? It is printed in the Wealth Strategies booklet. Make it readily available anytime you make claims regarding the compensation plan or when you share how much you have earned in commissions. Did you know that misleading income claims are one of the most prevalent violations that regulators find with companies in our industry? Improperly representing your income can jeopardize, or even be fatal to, your business.
There are many different ways to educate yourself some of which include: online courses, books, podcasts, and weekly newsletters. Many of these resources will cost you nothing, and it will be time well spent.
There are some exciting programs coming soon that deal with compliance in 7k. Education is key to a successful compliance program. These programs will help educate you on key compliance issues that are relevant to precious metals and direct sales. They will help keep your business compliant. We have access to some of the best legal minds in direct sales and hope to make their experience and knowledge available to you soon.
If you have any questions or concerns regarding compliance, please reach out to me via email at policy@7kmetals.com.
7k will be something that my kids and grandkids will get to participate in for a very long time. This is what I want for you and yours.
Our knowledge of and respect for compliance will be the key to making 7k a Legacy Company. I wish you the very best this month and can’t wait to see what records are le out there for us to break this spring.
