News on Compliance Management

On April 22, 2020, the Federal Ministry of Justice and Consumer Protection presented the long-awaited draft of a law on sanctions for association-related offences (VerSanG-E).
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.
The monitoring of the National Business and Human Rights Action Plan (NAP) is entering its next and final round with the second representative survey from 2 March to 24 April 2020.
On 14 November 2019, the German Bundestag passed the draft bill for the implementation of the 5th EU Money Laundering Directive.
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.
According to a statement by Federal Minister of Justice Christine Lamprecht on 9 March 2020, the coalition has reached an agreement on the draft bill for the Association Sanctions Act (VerSanG).
On 3 January 2020 the Bundesverwaltungsamt (BVA) published updated FAQs on its website.
The Act Implementing the Directive amending to the Fourth EU Money Laundering Directive was published in the Federal Law Gazette on 19 December 2019 and came into force on 1 January 2020.
The Whistleblower Directive was published in the Official Journal of the European Union on 26 November 2019.
On 7 October, the so-called Whistleblower Directive was formally adopted by the European Council of Ministers.
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.
The Netherlands becomes a new member to the group of countries that regulate the obligation of companies to respect human rights by law. The Dutch law may also apply to German 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.
The "Directive on the protection of persons reporting on breaches of Union law", also known as the "whistleblower" Directive, is due to be published this summer.
RA Christian Steinberger
RA Christian Steinberger
Legal Counsel

Head of Legal Services
+49 69 6603-1361
+49 69 6603-2361