Companies in Germany incur millions in damages every year as a result of compliance violations. This is why well-organized compliance management systems for identifying risks within a company are becoming increasingly important. Compliance refers to the optimization of work processes across all risk-prone areas of a company, based on the definition of the term in the German Corporate Governance Code. The aim is to ensure that the legal requirements from the various areas of law, internal guidelines, and, where applicable, non-codified ethical principles are observed in every activity of the company, thereby minimizing liability risks.

The financial services industry occupies a special position in the area of compliance. No other industry has so many compliance aspects that are already explicitly regulated by supervisory requirements imposed by legislators or administrative practice. However, the density of regulations is also increasing in other industries.

A compliance management system can be used to create an effective framework for avoiding risks within a company. This leads to greater legal certainty in many respects: for managers, who face high personal fines for compliance violations by their employees, for employees, and also for business partners. Many large corporations and companies already require their suppliers to have a functional compliance structure in place.

We support our clients in the event of internal or official investigations into possible compliance violations. In official investigations, rapid response and coordinated communication often determine the scope and content of the external impact. We also develop procedural processes for such scenarios together with our clients. In addition, we are also available as legal advisors and contact persons for internal compliance officers, who are often entrusted with other tasks in addition to compliance issues.