Compliance

We identify the risks...

It goes without saying that business enterprises (and their officers) always had to adhere to various rules. However, until recently there were no risk managers, compliance officers and integrity managers. The universe in which companies and institutions operate has changed as a result of a significant increase of both national and international legislation, the introduction of numerous codes of conduct, new forms of supervision and unprecedented demands regarding accountability and transparency.

Infringements can easily result in serious repercussions affecting the enterprise and possibly its board members and other stakeholders: prosecution, investigations, litigation, penalties, loss of business, sanctions, blacklisting, liabilities, reputational damage, decrease of stock value, and so on.

Hence the prominent role which regulatory compliance has come to play. Full awareness of all applicable rules and codes (including non-binding guidelines relating to social or other community issues, business ethics, sustainability and other, similar matters) has by now become an absolute need. Each company (possibly with the exception of small enterprises) should have programs in place to ensure a sufficient degree of awareness, adequate risk assessment and management, and to warrant appropriate reporting both internally and towards the public.

...to help preventing accidents.

Experts at CMS give advice in all areas of regulatory compliance. Head of the team is Katja van Kranenburg.

• Corporate Governance: the 2003 corporate governance code as amended, the way it is applied, the principles that are applicable to unlisted companies, conflicts of interest, disclosure requirements. Contact persons: Martijn van der Bie and Erik Vorst.
• Financial sector: financial supervision, insider trading, rules governing securities' trading, the banking code, disclosure obligations of listed companies, compliance with terms of permits and exemptions. Contact person: Reinout Slot.
• Insurance sector: sector supervision, supervision of pension funds, risk management for insurance companies. Contact person: Leonard Böhmer.
• Pharmaceutical industry: regulations applicable to pharmaceuticals, market structure, permits and admission of products, tariffs, compensation and reimbursement systems, budgeting. Contact person: Ellen Gielen.
• Competition law: national and eu, behaviour in relation to competitors, customers and suppliers; handling of dawn raids. Contact person: Edmon Oude Elferink.
• Employment law: remuneration policy, non-discrimination, codes of conduct, whistleblower schemes, etc. Contact person: Katja van Kranenburg.
• Insolvency law: rights and obligations in the event of (imminent) inability to pay, and restructuring of companies in financial distress. Contact person: Marc van Zanten.
• Data protection and privacy: use and transfer of personal data, the use of email and the internet, 'binding corporate rules'. Contact person: Edmon Oude Elferink and Simon Sanders
• Fraud: tax and economic offences, insider trading, money laundering, bribing, trade restrictions and embargo's. Contact person: Edmon Oude Elferink
• Administrative law: permits and licences, environmental law, safety legislation, working conditions, food and drink safety and health issues, transparency obligations, availability of information, governmental supervision, official investigations, public enforcement issues (and penalties, withdrawal of permits). Contact person: Alexander Ijkelenstam.

The services include: performance of a compliance due diligence identifying and describing any relevant risks; bringing existing agreements, general terms, templates,, forms and the like in line with requirements; drawing up manuals for internal use; providing information and training courses to management and staff; drawing up internal codes of conduct and checklists; putting together whistleblower schemes; providing advice on system modifications, including it systems; establishing crisis scenarios.