What is the best and proper procedures for avoiding legal and reputational risks ?

• Draft the company's procedures and policies by the legal department or consultant.
• Encourage or force staff to know the legal culture of business
• Conduct in-house awareness sessions for new regulatory instructions
• Provide legal support for all department

Essentially ,a very good regulatory compliance matrix must be established by the legal division then a proper committee for supervising and monitoring governance inside the entity ,nevertheless working in a collaborative basis with other departments in order to report for any vaulations with respect and connected to the line of business of concerned entity 

I think it is to be honest with all others and improving your legal studies