Protection of business with foreign participation under sanctions

Amid application of unprecedented sanctions, businesses with foreign participation in the Russian Federation face a lot of risks that can entail huge financial, material, reputational and other losses. Companies with foreign participation are faced with the need to bring their activities in line with internal and external requirements or norms, and this task comes to the fore.

Mandatory reform is subject to the part of the management/control system in the organization related to compliance risks - risks of non-compliance or failure to comply with the requirements of legislation, regulatory documents, rules and standards of supervisory authorities, industry associations and self-regulatory organizations, codes of conduct and so on. Compliance risks may eventually manifest themselves in the form of the application of legal or regulatory sanctions, financial or reputational losses as a result of non-compliance with laws, rules and standards in the field of compliance.

Compliance with laws, regulations and standards usually concerns issues such as compliance with appropriate standards of conduct in the market, conflict of interest management, fair treatment of clients and ensuring a conscientious approach when advising clients. Compliance also includes specific areas, such as countering the legalization of proceeds from crime and the financing of terrorism, the development of documents and procedures to ensure compliance of the company's activities with regulatory legislation, the protection of information flows, combating fraud and corruption, the establishment of ethical standards of employee behavior, etc.