It is vital for every company to ensure compliance with the rules, i. e. compliance not only with statutory rules, but also with internal company guidelines and policies. In addition to a careful analysis of the potential risks and the applicable legal provisions, a prerequisite for this is the development of a compliance-management system tailored to the company.
The VDMA legal experts will be happy to assist you.
Due to the current situation, the deadline for affected companies to submit the questionnaire within the framework of the 2nd monitoring of the National Action Plan for Human Rights (NAP) has been extended to 29 May 2020.
At present, an organisation Transparenzregister e.V. sends out e-mails in different versions requesting companies to register in the transparency register within 10 days using the link provided in the e-mail.
The Singapore Convention signed in August has the potential to significantly facilitate the enforceability of mediation agreements in international business transactions. In the field of mediation, it is intended to provide similar facilities as the New York Convention for international arbitration awards.
The Federal Minister of Justice has presented the draft law to combat corporate crime, the Verbandssantionengesetz (VerSanG), which has been under discussion for a long time; however, it is not yet publicly available. The planned law will regulate and tighten the sanctions law against companies.
On 20 May, the Federal Ministry of Finance published a draft bill on the implementation of the so-called 5th Money Laundering Directive (2018/843), thus going beyond the requirements of the EU Money Laundering Directive in some important areas.
This month we are updating our privacy statement to better understand what information we collect and why. We have also taken steps to improve our features to protect your information and privacy.
There is no change to your current settings or how your data is processed. We have merely improved the explanation of our procedures and explain to you in more detail what options you have to update, manage and delete your data.
We take the protection of your personal data and their confidential treatment very seriously.
General information about the scope of processing of your personal data and about your data protection rights can be found at www.vdma.org/datenschutz.
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