Commonwealth Edison Co to pay $200M to end bribery investigation

804
SHARE

While the misconduct was limited to ComEd, the policies are being applied across all Exelon subsidiaries in Illinois and all other jurisdictions where Exelon operates.

Exelon has implemented four new mandatory policies that apply to employees who interact with public officials. These policies outline specific rules, procedures, and tracking methods governing interactions with public officials. They also require vetting and monitoring all ComEd lobbyists and political consultants. Any employment referrals or requests and vendor referrals or requests from public officials will be disclosed and reviewed.

The policies also prohibit the subcontracting of third-party lobbyists and political consultants. Additionally, the hiring of such firms is being overseen by the ethics and compliance team.

The effort is led by David GlocknerExelon’s executive vice president of compliance and audit. Glockner was hired in March after having previously served as a senior Securities and Exchange Commission official and chief of the Criminal Division in the U.S. Attorney’s Office for the Northern District of Illinois.