How important is keeping records?

In September 2010, a pipeline exploded in San Bruno, California, killing eight.  PG&E, the pipeline’s owner, couldn’t find records of pipeline inspections required by regulation.  Lots of fines and civil damages.

As part of the resolution, or as part of their post-crisis communications plan, PG&E placed a full-page ad in The Wall Street Journal on March 21.

Here’s a pdf of the ad.  TheWallStreetJournal_20170321_B005

Doubt if the corporation has that ad in Lucite paperweights.

Does your corporation adhere to regulatory record-keeping requirements?

 

 

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Filed under Board, Compliance, Compliance, Corporation, Directors, Duty, Employees, Governance, Legal, Oversight, Records Management, Requirements

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