Compliance Monitorships – Expertise from experience
Compliance monitoring requires experience, professional expertise and the ability to gain the trust of both the affected companies and the regulatory authorities. As independent compliance monitors, counsel to such a monitor or by the side of in-house functions of affected companies, we know the full range of compliance monitoring.
Compliance requirements imposed worldwide on companies by law enforcement and regulatory agencies are constantly increasing. As a result of this, the role of the independent compliance monitor is becoming increasingly important. In the case of compliance violations, more and more companies are required to accept an independent compliance monitor in addition to the imposed fines.
A compliance monitor’s main task is to monitor and drive the company’s efforts forward to eliminate misconduct and, in particular, to establish an effective ethics and compliance program. The aim is to prevent future infringements with the assistance of an effective compliance management system.
Pohlmann & Company has already served as a compliance monitor or counsel to a monitor several times and has many years of international experience in the field of preventive compliance advisory. With this particular expertise, we are the ideal partner that acts as independent link between the authorities, such as the Department of Justice (DoJ), the U.S. Securities and Exchange Commission (SEC) or the World Bank, and the affected companies.
With experienced attorneys and consultants, we are also a reliable partner for companies that are proactively preparing for a compliance monitorship – from selecting a suitable monitor and establishing the necessary communication and process management all the way to proactively improving the compliance management system.
Under certain circumstances, companies may want to initiate a “voluntary monitoring” in order to verify the maturity and effectiveness of their compliance program and internal control systems. We know the relevant international requirements and best practice standards. This is why clients rely on us when it comes to optimizing their processes or testing the degree of their compliance remediation independently.
- Activity as independent compliance monitor, e.g. for the U.S. Department of Justice, the U.S. Securities and Exchange Commission or the World Bank
- Support of compliance monitors as consultants or as expert/team member as a “counsel to the monitor”
- Strategic advisory and practical support in preparation for and during compliance monitoring, including the establishment/improvement of compliance programs and internal control systems (“counsel to the company”)
- “Voluntary compliance monitoring” for the purpose of independent certification of an effective compliance program and/or internal control system in accordance with relevant minimum requirements and international best practice standards