5 Essential Elements of Corporate Compliance
A Global Template
Effectively managing corporate compliance efforts in today’s regulatory environment–preventing corporate officers and employee from engaging in illegal practices, while also addressing a wide array of other compliance and risk management concerns–presents a major challenge to multinational companies with extended enterprises. Although enforcement guidelines around the world vary in length, tone and language, virtually all touch upon a set of key issues that Baker McKenzie has boiled down to five essential elements: leadership, risk assessment, standards and controls, training and communication, and oversight. These five elements serve as the organizing principles for the way Baker McKenzie counsels our clients in the area of corporate compliance. The updated Five Essential Elements of Corporate Compliance provides guidance to companies not only in respect of the US Foreign Corrupt Practices Act, but also regarding other key jurisdictions where multinationals do business. It also incorporates important developments in enforcement and critical notes on guidance from a variety of global regulators. We hope you find this guide helpful and informative. Registered users can read the Five Essential Elements of Corporate Compliance, here.
Building on the success of 2016’s “EMEA Corporate Liability Handbook,” we are pleased to present you with the first global edition that collates and describes in detail the corporate liability and corporate crime regimes of countries in Asia, EMEA and the Americas.
On August 28, 2017, Petróleos Mexicanos published its new Code of Conduct. The Code outlines the corporate ethics principles and guidelines mandatory for all employees, subsidiaries and affiliates.
We are pleased to announce that the updated second edition of the Baker & McKenzie dictionary : Compliance and Governance from A-Z is now published.
In addition to the establishment of the Beneficial Ownership Central Register, the Law requires legal entities to maintain an updated record of the shareholders and persons controlling the company.
The German Federal Court of Justice ruled that a compliance management system can reduce a fine. What are the prerequisites?
We have summarized the results of the compliance studies of the past 12 months and summarized the results in this post. Find out how you measure up against the benchmark.
Singapore launched the Singapore Standard ISO 37001 on Anti-bribery management systems on 12 April 2017, following a public consultation.
The Municipal court in Prague ruled that criminal proceedings against a company will be terminated because the company "has used all efforts to prevent the commitment of the crime" by one of its managing employees and therefore fulfilled the conditions for its exculpation.
On 2 March 2017 the National Agency on Corruption Prevention approved the Typical Anti-Corruption Programme for Legal Entities. Certain legal entities must adopt an Anti-Corruption Programme in line with the Typical Programme.
Notorious frauds at many Global Fortune Companies highlight the importance of internal controls. In spite of the Sarbanes-Oxley Act of 2002 (SOX or SOA), external auditors continue to disclose large numbers of material weaknesses in internal control systems of many public companies.