Compliance
Compliance is the overall effort made by a company to ensure that its business activities comply with the law and internal regulations. It is a set of regulations, organisational arrangements and tools designed to ensure that a company’s activities comply with the law, internal regulations and good practices and codes of ethics.
What is compliance?
The core tasks of compliance are:
- minimising the risk of conducting business in a manner that does not comply with the law internal regulations;
- not allowing financial penalties to be imposed on the company for illegal activities;
- preventing the loss of a good brand and reputation caused by non-compliance with legal, ethical, industry, social standards.
The implementation of a company’s compliance system can be divided into two areas: internal and external. The internal area focuses on training employees and making them aware that their actions affect the entire organisation and that negligence and breaches of regulations may have legal consequences.
The external area refers to customers, subcontractors and contractors. The company’s most important responsibility here is:
- data protection;
- maintaining professional secrecy;
- anti-corruption measures;
- prevention of anti-competitive activities and manipulation;
- a whistleblowing system.
Our offer
Our law firm helps entrepreneurs prepare and implement compliance regulations.
- we carry out compliance audits to determine where compliance regulations need to be introduced;
- we manage risks as part of our compliance programme;
- we draw up opinions and analyses of the regulations that the company would like to pursue as part of its compliance programme;
- we draft anti-corruption, anti-bribery, anti-discrimination policy documents, codes of conduct;
- We help implement compliance procedures, train employees;
- we identify the risks associated with the practices adopted so as to minimise the occurrence of specific anomalies;
- we carry out periodic inspections and audits of the compliance regulations adopted by the entrepreneur.
When is a compliance programme mandatory?
It is mandatory for financial market institutions, primarily banks, to create the position of Compliance Officer. The task of the specialist employed in this position is, among other things, to prepare and control procedures to prevent money laundering (so-called AML).
Other companies do not need to appoint employees to monitor compliance with the compliance programme, but are increasingly choosing to do so in order to reduce the risk of illegality and to ensure that the company operates in accordance with the law and internal regulations. Having a compliance programme is seen by the market as an asset and has an image value.
