Noerr LLP: Compliance becomes central to corporate organisation - seventh Noerr Compliance Day
(firmenpresse) - Noerr LLP / Key word(s): Law/
Noerr LLP: Compliance becomes central to corporate organisation -
seventh Noerr Compliance Day
DGAP-Media / 16.05.2011 / 16:23
Compliance becomes central to corporate organisation - seventh Noerr
Compliance Day
Munich, 16 May 2011. After the recent data scandals, all businesses must
ask themselves whether they observe their legal obligations on IT security.
This was the request of the Munich Noerr IT lawyer Dr. Thomas Thalhofer at
the law firm's Compliance Day in Munich. Prof. Dr. Thomas Klindt, head of
the international Noerr Compliance Group welcomed over 200 experts from
Germany and abroad to the event. Apart from Compliance and liability risks,
the significance of an efficient Compliance Organisation in international
group structures was a central issue under consideration.
Compliance Risks in Cloud Computing
Thalhofer has long observed how data protection and data security often
occupy only a subordinated role when new IT systems are being introduced or
existing systems expanded. 'The theft of data causes not only damage to the
company's reputation but results in enormous expense', warns Thalhofer. The
dangers inherent in downloading software, infrastructure and data bank
capacity from the Internet in Cloud Computing, in which not only the
company's server but all the transmission channels are at risk and the data
of many other companies are also on the one server, are even greater.
The main risks of Compliance breaches in IT are seen by Thalhofer in waves
of claims from customers damaged by loss of data and possible personal
liability of management board members and managers for the damage suffered
by the company due to Compliance breaches.
Software Licences: Management is Obligatory
Apart from security with Cloud Computing, licence management of the
software products used in the business is, according to Prof. Dr. Joachim
Schrey, IT legal expert at Noerr in Frankfurt, among the most important
Compliance duties of the person responsible for IT. The obligation to
manage licences in a management system comes, according to Schrey, from
commercial law and the general obligation of the management to manage risks
and is anything but an end in itself. 'Software manufacturers are
consistently on the lookout for unlicensed versions of their software and
contractually secure the right to audit licences', warns Schrey. Breaches
of copyright on which licences are based can result in civil and criminal
proceedings.
Compliance and Financing Agreements: Interdisciplinary controls required
The joint lecture of Markus Hammes, Tresurer of Phoenix Solar AG, and Noerr
partner Sebastian Bock on the connection between Compliance and financing
agreements made it clear that the subject of Compliance is today among the
central questions in corporate organisation. The recent judgements of the
Federal Court of Justice on interest swaps have shown how intermeshed
liability questions and contract management are in the area of financing.
'Comprehensive contracts for company loans, bonds or derivates require
interdisciplinary monitoring by treasurers, legal departments and accounts
departments', said Bock.
Group Reporting: Liability Trap for Managers
Noerr partner Dr. Laurenz Wieneke from Frankfurt, speaking on the subject
of company organisation, also pointed out the Compliance risks within the
functional reporting in the group. 'It is seen in almost all corporate
groups that the reporting channels and the corporate structure do not
correspond' was his description of the problem. 'Groups are not created on
the drawing board and continuous improvement of processes often leads to
management structures not consistent with the legal form. '
The risks this can produce are felt by managers on the second or third
levels if the entire group runs into trouble. Then managing directors and
supervisory board members of group companies are made responsible for
failures for which they had no functional responsibility. Corporate
Compliance helps in finding reasonable structures and in the avoidance of
such risks.
Compliance Managers are also exposed to Risks from Abroad.
Not only managers and managing directors are exposed to civil and criminal
law risks. Compliance managers, with special responsibility in many groups
for monitoring are also often exposed to the risk of personal liability.
Dr. Christian Pelz, criminal law expert at Noerr in Munich, drew attention
in his lecture to a particular risk in international group structures. A
German Compliance Manager can be criminally liable if an action is
permitted abroad but forbidden by German law - for example, if a customer
loyalty system legal in England contains provisions illegal in German law.
'If the German Compliance Manager is aware of that, he is liable due to a
special German law provision', said Pelz. Cooperation in an act which is
forbidden in German law but is committed abroad, is punishable. In order to
avoid this, Pelz recommends that groups should appoint Compliance Officers
abroad.
Matthias Schulte
PR-Manager
Assessor jur.
Noerr LLP
Börsenstraße 1
60313 Frankfurt am Main / Germany
T +49 69 971477418
F +49 69 971477100
M +49 171 9777705
matthias.schulte(at)noerr.com
End of Media Release
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124863 16.05.2011
Datum: 16.05.2011 - 16:23 Uhr
Sprache: Deutsch
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