The Compliance Officer is responsible for compliance in a company. There are internal and external compliance officers. In both cases, the Compliance Officer identifies as an independent entity for compliance with the legal framework. In addition, the Compliance Officer is responsible for compliance management and the associated establishment of rules to comply with the legal framework.
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Depending on the sector and type of company, different legal priorities are considered. These can be, for example, antitrust standards, such as those of the Money Laundering Act or general confidentiality obligations.
During compliance management, the risk-related areas in each business area must be identified and measures to reduce liability for the company and avoid liability in favour of the management body (in particular managing directors, executive board, supervisory board) implemented.
Rechtsanwalt Dipl.-Ing. Michael Horak, LL.M.