Timothy O'Toole Quoted Regarding Liability and Compliance Risks in Coronavirus-Related Production in the Wall Street Journal
"Coronavirus-Related Production Shifts Bring Liability, Compliance Risks"
Wall Street Journal
Timothy O'Toole was quoted on the liability and compliance risks non-medical companies face as they shift operations to produce medical equipment to help combat the new coronavirus. Compliance teams normally take months or even years to develop effective compliance programs, but the pandemic has forced teams to move faster. "There is a huge amount of pressure to get these sorts of deals done … because the alternative could be to go out of business forever, and you're normally not dealing in that environment," O'Toole said. He stated more regulatory guidance on possible leniency for compliance lapses that happen during the pandemic would benefit companies.