Compliance in itself simply means that the applicable legal rules and recognised social values and standards are always adhered to in the context of all entrepreneurial activity. In light of the existing density of regulations for companies and entrepreneurs, cross-border activities, increasing regulation and, in particular, the special liability for management bodies, every company today must operate a compliance management system.
Compliance – Identifying risks/ limiting liability
In this context, the risky areas in each division of the company must be identified to a particular extent and measures must then be implemented to reduce liability for the company and avoid liability for the benefit of the management body (in particular managing directors, executive board, supervisory board).
Compliance Management/ Compliance Officer
Our corporate law practice is not only available to advise you, but we also support you in the implementation of compliance management as well as in the provision of our firm as an external compliance officer.
It goes without saying that after identifying the risks, we create the legal measures of a compliance management system for your specific company on an individualised basis and also integrate a whistleblowing hotline, for example. If necessary, certification in accordance with IDW PS 980 standard, etc. can also be carried out.
The organisation resulting in the light of compliance is complemented by safeguarding levels in the decision-making processes and in the overall supervisory organisation.
Pursuant to section 93 (2) AktG, the management bodies of a public limited company are personally liable in the event of a breach of their organisational and supervisory duties.
For (the) managing directors of a GmbH this applies pursuant to § 43 para. 2 GmbHG in conjunction with. § 93 para. 2 AktG.
The members of the management bodies have the burden of proof with regard to their fulfilment of duties. In correlation with the industry and size of the company as well as its national or international orientation, the liability risks increase both for the company and – in particular – also for the management bodies.
Compliance Risk Assessment
The relevant areas of law in the individual case of compliance risk identification include the following areas in particular:
- Company law
- Banking law
- Antitrust law
- Product liability law
- Insolvency law
- Data protection law
- Environmental law
- Labour law
The competent organisation of compliant behaviour in the company as well as the proof of a compliance organisation are therefore at least advantageous for the following topics:
- Minimising the liability risks of the company and the personal liability of the management bodies;
- Award of public and private contracts;
- Creditworthiness, lending and lending conditions;
- Avoidance of criminal proceedings and administrative offences;
- Going Public.