Ethics is a core value at Dominion. That means qualities such as integrity, individual responsibility and accountability matter as much as bottom-line results. Doing right and doing well are inseparable. All Dominion employees share the responsibility for making ethical conduct central to our business operations and outlook.
Ethics and Compliance Program
Dominion’s Ethics and Compliance Program is designed to detect and prevent violations of law, regulations and policies. Its key components include:
- A companywide Code of Ethics and Business Conduct
- Management oversight
- Employee training and awareness about our Code
- Resources for employees to seek advice or guidance
- Options for reporting concerns
- Periodic program evaluations
The Audit Committee of the board of directors oversees our Ethics and Compliance Program. The company’s general counsel also serves as chief compliance officer, and other company executives serve as high-level compliance officers. These members of senior management are standard bearers for the Code of Ethics and Business Conduct. With the help of compliance attorneys, they work to ensure that Dominion complies with applicable laws, regulations and company polices and maintains high ethical standards in its business activities.
In 2011, we established a Compliance Council composed of officers and other high level personnel with key compliance roles. The Council’s main objective is to ensure that the company’s ethics and compliance strategy is carried out consistently across the enterprise.
The Council meets quarterly to discuss compliance trends, legal and regulatory developments, risk areas, and training and communication initiatives.
In early 2012, we launched an internal communications program that features a different compliance topic each month, using video resources and printed articles on the company’s intranet website, among other communication tools.
Ethics and Compliance Training
Employees, officers and board members are offered training on a regular basis to ensure they understand applicable legal requirements and company policies. Those affected by various regulatory requirements also receive training on federal and state codes and standards of conduct, electric reliability standards, and other applicable regulations.
All employees, officers and board members receive comprehensive training every other year on the company’s Code of Ethics and Business Conduct. The most recent training was assigned in 2012. New hires are also required to receive this training. Other types of interactive ethics and compliance training sessions are held regularly at different company locations.
Employees are expected to report any concerns about suspected misconduct or illegal activities. A dedicated, confidential compliance telephone line and Internet website allow them to do so anonymously. Employees also may report concerns by contacting the Ethics and Compliance Program staff and other appropriate company personnel.
Each year, we distribute a survey to employees to help identify and address potential compliance concerns. The company also maintains a dedicated e-mail account that employees may use to ask questions or seek guidance about ethical concerns and compliance issues.
Dominion shareholders may report concerns by contacting the compliance line or by communicating directly with independent members of the Board of Directors via the company’s website or through the U.S. mail.
In all cases, retaliation for good-faith reporting is strictly prohibited.
We categorize reported concerns by type of allegation to facilitate investigation by appropriate company representatives. A compliance attorney oversees all investigations reported to the Ethics and Compliance Program.