Why Do We Need Compliance ?

​The mission and scope of compliance :


We are running a worldwide business. Our common goal is to successfully explore global markets. One key point is to be aware of potential obstacles which might represent a serious risk to our success and to our reputation. This is why we constantly watch out for such obstacles - a lot of which may be on the legal and regulatory side. Laws may prohibit certain business practices; regulators may fine companies or employees in case they didn't comply with those rules. And because laws as well as regulators' attitudes may differ by region, we need local expertise about compliance standards. This is safeguarded by the regions' compliance functions. On the other hand there is a strong need for a centralised view too, because some problem considered 'local' might, when looked at from a group perspective, turn out to be a global one. This is especially so when a local event has the potential to impact the reputation of the Euler Hermes brand. Group Compliance is in charge of monitoring the worldwide regulatory risk. It also initiates action when necessary to safeguard group interests. Major fields of potential compliance risks have been identified and addressed. Helpful instructions have been issued, a lively exchange of practice is constantly in progress between local entities, and employees are regularly being trained in the areas of


• Money Laundering Prevention
• Anti-Fraud and Anti-Corruption
• Antitrust
• The handling of price sensitive information
• Conflicts of Interest