What is compliance – a frequently asked question. The answer was already provided by MiFID I: Compliance is compliance with the legal requirements.
Compliance with the compliance rules protects you and your company from being held liable by third parties. Prominent examples from the industry, such as the VW case, underscore this fact. Compliance with the legal requirements is intended to ward off the claims of others as a preventive measure.
Compliance requirements are monitored by government agencies, such as supervisory authorities like BaFin, the Deutsche Bundesbank, the ECB or special authorities such as the data protection officer, the Federal Cartel Office and other competition authorities. The sanction possibilities of these authorities are growing ever more.
Our target groups:
Compliance for supervised institutions
We have been looking after the issue of compliance for institutions for more than ten years for:
- Financial services institutions,
- Capital management companies;
- Insurance companies.
The task of compliance includes, for example, capital adequacy requirements, compliance with investor protection and organizational obligations, which are implemented in organizational instructions.
We accompany you in all these areas, for example, in the preparation of written organizational and procedural instructions (organisation manuals), during audits of supervisory authorities or auditors of your organization, and in the case of the representation with the respective supervisory authorities.
Industrial enterprises must also face up to compliance. We support you in the following areas:
- Corporate governance of your company,
- Internal and external fraud prevention,
- Fair dealing in competition, prevention of bribery and
- Compliance and employee training, externally and internally.