Extra-territorial rules: How to navigate global compliance complexity

Sanctions, tariffs, economic crime, big tech, data privacy, and environmental laws are transforming the list of extra-territorial rules affecting businesses in every sector. Their penalties are becoming more stringent and their impact is traveling far down the supply chain, so even small suppliers may now be liable – either to account for their own practices to their customers or to report directly to national regulators.

This is transforming cross-border compliance. It creates many new obligations and risks and, therefore, requires more attention from compliance teams working alongside other organizational functions, including procurement, finance, HR, IT, risk, and internal audit. It may also require some teams to develop their expertise and take expert legal advice.