Compliance requirements

Teaching and adhering to rules and regulations, or compliance, is crucial for industry, companies, cultural institutions, charitable organizations, and the public sector.

National and international legal systems, widely criticized as overregulation in the European Union's economic area, consumer protection, data protection, antitrust law, compliance regulations, environmental protection, and much more provide companies with a regulatory framework that is democratically and constitutionally legitimized and reasonable, so that new fields of technology and investments can also be pursued for the benefit of people, the economy, society, the environment, and nature, i.e. in the public interest.

Compliance, as defined by the German Corporate Governance Code (DCGK), outlines “compliance with legal provisions, regulatory standards, and fulfillment of other essential ethical standards and requirements, which are usually set by the company itself.”

Failure to comply with rules can result in corporate penalties, fines, profit skimming, or the forfeiture of profits generated through a violation of the law. In addition to these direct sanctions and damages, there are regularly further significant external and internal costs for proceedings, reversals, and claims for damages.

In practice, companies have often established a compliance culture and compliance processes, and in some cases a compliance management system, at the executive board and specialist level, such as in the group legal department or other specialist departments. In the event of escalation, it proves helpful and effective to draw on legal advice and support through mediation. This is where our expertise lies.