Germany

Germany Creates a Standard for Compliance Assurance

Neil Baker August 30, 2011

After several high-profile compliance failures in Germany, many companies there are looking for help building compliance systems and asking audit firms to assure that they are suitable. But audit firms, fearing liability, had been reluctant to provide that assurance. Now, a new standard from a German accounting organization provides a roadmap for auditors to follow and guidelines for completing the assurance process.

OECD Raises Concerns Over Germany's Anti-Bribery Controls

Arielle Bikard March 28, 2011

Though the OECD working group on bribery commended Germany for its crackdown on illegal payouts abroad, it also expressed concerns over light sanctions, underdeveloped corporate internal controls and external audits, and lack of whistleblower protection.

German Ban Dents European Regulation

Global Glimpses May 21, 2010

Germany undermined European efforts to maintain a coordinated response to the financial crisis in Greece and to market regulation more widely this week when it took unilateral action to clamp down on short-selling.The country’s financial regulator, BaFin, surprised other regulators when it announced a ban on “naked” short-selling transactions in...

Infineon Overcomes Governance Revolt

Global Glimpses February 12, 2010

German electronics company Infineon has faced down an investor revolt that had developed into a test case of the country’s corporate governance practices.In a direct challenge to the company’s leadership, rebel shareholders led by Hermes, a U.K. activist investor, had nominated their own candidate for election to the post of...

Infineon Revolt Becomes Governance Test Case

Global Glimpses January 25, 2010

0 false 18 pt 18 pt 0 0 false false false The battle between German electronics company Infineon and rebel shareholders is rapidly turning into a test case of the country’s corporate governance practices, with more shareholders now opposing the company’s choice of supervisory board chairman.Infineon has run into trouble...

German Staff Snooping Law Makes Compliance Tougher

Global Glimpses September 01, 2009

A new data protection law in Germany will make it harder for companies to implement anti-fraud and corruption controls that involve monitoring employees, according to law firm Clifford Chance.The amendment to the existing Federal Data Protection Act (known in German as the BDSG) follows a series of scandals in which...

Study: Legal, Regulatory Responses to Pay Rule Concerns

Global Glimpses March 02, 2009

With governments around the world taking action to clamp down on “excessive” executive pay, companies will find it increasingly difficult to maintain a consistent approach to remuneration policy compliance, according to law firm Clifford Chance.The firm has published a briefing note that analyzes the legal and regulatory response to concerns...

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