Compliance

 

In today’s world “Compliance” is collective term used to describe the adherence to all laws relevant to a company and policies, as well as compliance with voluntary business codes.

It is not so easy to determine which rules are relevant to a company because each case varies from industry to industry. That is why Schmidt Steinfeld is here to help you: We are experts who check your company – with certainty of justice – which business laws are required and relevant for you and which are not.

Why do you have to pay for this? What is the advantage for your company? The answer is simple: Compliance means minimization, up to the exclusion of the personal liability of the manager or entrepreneur. There are a number of ways in which the liability limitation or the personal exclusion of liability may be pierced. One may even go so far as to say that recent jurisprudence is now generally assuming the personal liability of the managing director or entrepreneur.

Most of the German laws contain penal regulations. If they are violated, there is the possibility for third parties file claims against the entrepreneur(personally) based on Section 832 paragraf 1 German Civil Code. An exclusion of this liability is only possible if it can be proven that the managing director has done all he could to prevent the violation of such a penalty. At this point, compliance or an internal compliance system (compliance management system or CMS) plays a decisive role. A CMS is absolutely necessary for a managing director to demonstrate, at the highest degree, that the company is compliant with the laws and regulations. This is where Schmidt Steinfeld Solutions steps in to provide you with the solution. We offer three different compliance-packages. These packages are carefully adapted to your company and your specific needs. The individual package details along with the approximate cost can be found in the following list:

Compliance Examination (Package 1)
  • Initial interview of the entrepreneur held by Schmidt and Steinfeld to understand structure and key aspects of the company
  • Interview with relevant personnel (HR, privacy protection, and management, etc.)
  • Risk analysis
  • Analysis of the relevant laws, regulations, etc. (except DIN)
  • Analysis of general business operations and workflows
  • Analysis of labor law aspects including labor protection
  • Initial audit of business partners and business units
  • Presentation of results and handover of a written final report
Compliance Examination (Package 2)
  • All contents in Package 1
  • General review of the existing compliance structures
    • Verification of the knowledge / training level of the relevant employees
    • Review of organizational processes / structures with regard to compliance
    • Review of existing organizational structures (organizational chart)
Compliance Examination (Package 3)
  • All contents in Package 2
  • Unique quality control of the existing CMS
  • Concrete and detailed review of existing compliance structures

Naturally, we also offer the implementation of a CMS – supported by our network – after individual consulting, following one of the packages.

We particularly offer legal counsel in matters of Cyber Security and ISMS (Information Security Management Systems) together with our corporation partner xiv-Consult GmbH.