Corporate compliance
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Corporate Compliance Ukraine Legal Counsel Forum 23 October 2014 Sören Schomburg
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Transcript of Corporate compliance
Corporate Compliance
Ukraine Legal Counsel Forum
23 October 2014
Sören Schomburg
ComplianceDefinition
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The entirety of all organisational measures aimed at the adherence to all legal obligations by a corporate entity, the members of its organs and its employees.
United Kingdom
“But it is a defence for C to prove that C had in
place adequate procedures designed to
prevent persons associated with C from
undertaking such conduct.“
United States
„a program designed to prevent and detect criminal conduct”
Germany
No definition;
reference is made in theBanking Act, the
Securities Trading Act andthe Insurance Supervision
Law, the Minimum Requirements for Risk
Management and other more recent provisions
EU
Several references in different directives
Definition in Solvency II directive:
compliance regulations in EU Directives to be
implemented by memberstates
ComplianceRisk-analysis
Fines Forfeiture of profits
Reputational Risks
Individual liability under the law of
tort Business Ethics
Criminal law risks for senior
management
Consequences outside
criminal/civil law
Disruptions in work flow
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ComplianceImplementation of compliance programmes
Source: http://www.pwc.de/de/risiko-management/wirtschaftskriminalitaet-2013.jhtml
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ComplianceOverview
Risk
Risk-analysis
Limitation of Risk
Distribution of Risk
Risk manageme
nt
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ComplianceMaßnahmen
Compliance-Guidelines
Compliance Workshops
Whistle Blowing Tone from the top
Dual control Job -
Rotation/distribution of responsibilities
IT based controls Employee instructions
Anti-bribery provisions in third-party agreements
External counsel/support
Internal Investigations Amnesty Program
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Thank you for your attention!
Attorney at Law Sören SchomburgUfer Knauer Rechtsanwälte
Seidlstr. 2780335 München
Telefon: 089 5587 [email protected]
Start of 2015: Ufer Knauer Berlin Office
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