Abstract
In the decades since Enron and its sibling scandals, corporate compliance and ethics programs have increasingly entered the spotlight. For the uninitiated, a compliance and ethics program consists of an organization’s policies, procedures, and practices designed to foster an ethical corporate culture as well as prevent and detect wrongdoing. The program does so by first, educating employees and agents about the organization’s values and legal responsibilities, and second, deterring and detecting wrongdoing through monitoring, auditing, and discipline. If a company is concerned about price fixing, it would draft policies that limit and guide pricing decisions, train those with pricing authority about the organization’s commitment to fair competition and the antitrust laws, and monitor and audit compliance with the organization’s policies.