Policy Event

miss liberty

Corporate & Business Law Committee Meeting

Speakers

Dr. Eike Bicker, LL.M.

Partner

Gleiss Lutz Hootz Hirsch PartmbB Rechtsanwälte, Steuerberater

Dr. Christoph Klahold

Senior Advisor, Board Member at DICO - Deutsches Institut für Compliance

The Boston Consulting Group GmbH

Description

***For members only***

 

Topic: Germany’s “Corporate Sanctions Act” and Its Impact on Companies and Directors

 

Dieselgate, Wirecard, Cum-Ex - what's next? Instead of waiting for the continuation of this impressive list, the German legislator wants to strike back with a new law: The New Corporate Sanctions Act is ante portas.

Based on the current draft of the bill, sanctions of up to 10% of a group’s annual turnover can be imposed on companies either for criminal offenses committed by senior management or for omission of adequate compliance measures in the event that any other employee has committed a crime violating corporate duties.

This tightened yardstick will be balanced by incentivizing carrots in form of reduced fines for compliance, internal investigations, and cooperation with the prosecutor. The new law will have significant impact on foreign, and in particular, US companies which operate in Germany.

 

Dr. Bicker and Dr. Klahold will provide an overview of the draft bill, open questions, and required action items to ensure sound compliance and proper preparation.

 

This is a members- only event. For registration, please contact Ms. Belogortseva at membership@amcham.de.

Event-Details

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Corporate & Business Law Committee Meeting

November 25, 2020
17:00
Zoom


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