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Eversheds SHINE Webinars - Multi jurisdictional compliance 23rd October 2014

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Eversheds SHINE Webinars - Multi jurisdictional compliance 23rd October 2014

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New regulation is produced faster than most in house teams can keep up with it, businesses are expanding into new markets exposing them to novel and often extensive compliance obligations. How do you identify compliance obligations, then manage and monitor compliance effectively? What tools and systems can you deploy to avoid time consuming and reputation damaging breaches. This session will share case studies and examples of systems, approaches, policies, communication methods and tools used in practice to ensure cost effective risk management.

New regulation is produced faster than most in house teams can keep up with it, businesses are expanding into new markets exposing them to novel and often extensive compliance obligations. How do you identify compliance obligations, then manage and monitor compliance effectively? What tools and systems can you deploy to avoid time consuming and reputation damaging breaches. This session will share case studies and examples of systems, approaches, policies, communication methods and tools used in practice to ensure cost effective risk management.

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Eversheds SHINE Webinars - Multi jurisdictional compliance 23rd October 2014

  1. 1. Multi Jurisdictional Compliance 23 October 2014
  2. 2. Welcome Multi Jurisdictional Compliance New regulation is produced faster than most in house teams can keep up with it, businesses are expanding into new markets exposing them to novel and often extensive compliance obligations. What tools and systems can you deploy to avoid time consuming and reputation damaging breaches? This webinar will share case studies and examples of systems, approaches, policies, communication methods and tools used in practice to ensure cost effective risk management. How do you identify compliance obligations, then manage and monitor compliance effectively
  3. 3. Polling Question 1 How important to you is multi-jurisdictional legal compliance? • Top Priority • Medium Priority • Low Priority
  4. 4. Welcome • Speaker Introductions – Stephen Hopkins, Partner & Head of Global Client Development – Graham Richardson, Partner & Head of Eversheds Consulting – Lee O’Connell, Consulting Director – Claire Williams, Programme Office Manager
  5. 5. Agenda • What is multi-jurisdictional legal compliance? • Legal Risk or Legal Compliance? – What’s the difference? • The challenges • Are you compliant? They weren’t… • How do you identify your compliance requirements – Systems, Methods & Tools • Managing & Monitoring your compliance obligations • Case Studies • Q&A
  6. 6. What is multi-jurisdictional legal compliance? • Legal Compliance is the process or procedure to ensure that an organisation follows, monitors and manages relevant laws, regulations and business rules within their operations • Multi-jurisdictional compliance is when an organisations operations are global and span many diverse countries, each with differing and challenging regulatory regimes
  7. 7. Legal Risk or Legal Compliance? What’s the difference?
  8. 8. Legal Risk or Legal Compliance? What’s the difference?
  9. 9. How do you identify your legal compliance requirements?
  10. 10. The challenges • Time and resource to manage the task – Using a mix of qualified project managers and lawyers to deliver the project more time and cost effectively • Controlling a budget on what can be a very expensive task • Reliable and trustworthy legal counsel across multiple jurisdictions – Even with 150 plus firms in our network we have to ensure we use the right specialists with the right expertise • Controlling the quality and consistency of advice received • Updating the advice on a regular basis • Presenting the advice in a useful format
  11. 11. Example of Data Room
  12. 12. Example of Reporting
  13. 13. Polling Question 2 Do you feel that you adequately identify, manage and monitor your global requirements? • Yes • No
  14. 14. Are you compliant? They weren’t… Walmart A bribery scheme identified in 2011 that fuelled the company's explosive growth in the Central American country by paying officials to speed up permits and ignore laws Result: Past SEC and Justice Department penalties are usually either 1% or 2% of annual sales In 2012, this would have meant at least a $4.5 billion, or 77 cents per share, penalty for Wal- Mart. Investigations are ongoing and they have spent $439 million in the last 2 years on investigations Legal Compliance • Corporate Governance • Fraud and Theft • Anti-bribery and Corruption • Anti-Trust and Competition Risk • Cultural
  15. 15. Are you compliant? They weren’t… HSBC
  16. 16. Are you compliant? They weren’t… McDonalds • In January 2012 McDonalds tried to promote its brand and engage with customers via social media across the globe • McDonalds promoted the following trends #meetthe farmers and #mcdstories with the latter asking for positive dining experiences in its restaurants • Instead respondents joked about obesity and dog food Result: McDonalds pulled the campaign within 2 hours of going live Users were still tweeting using #mcdstories up to 10 days after it was removed Legal Compliance • Cultural • Brand Protection • Reputation
  17. 17. Managing & Monitoring your legal compliance obligations • Early warning systems • Compliance hotline • Regulator relationships • EWRM • Legal Risk Registers • Compliance Risk Mitigation plan • Compliance training • Legal Compliance Audit processes
  18. 18. Systems, methods & tools • Policies & procedures • Facilitated identification workshops • Control Risk Self Assessment • Focussed questionnaires • Compliance e-mail briefings • Compliance advocates in-country • Frequent monitoring and review • Reporting and KPI’s • Continual internal promotion of compliance
  19. 19. Systems, methods & tools
  20. 20. Case Study – Global Pharmaceutical Organisation The Challenge: • Our new client had purchased rights to sell products in 21 jurisdictions across Europe • No presence previously in those countries and no idea what compliance obligations existed, and it was unknown if they were operating compliantly • They asked us to provide advice in 9 separate areas of legislation in scope (including Tax, HR, Environmental, IP, Data Protection, Company Secretarial) The Approach: • Project Managed from the UK (Eversheds Consulting, Partner supervision and subject matter expertise support) • Leveraging network of owned and relationship firms • Local counsel engaged to work to strict guidelines in terms of time and costs • Coordination of 378 different legal documents, by one Project Manager, in 3 week period The Outcome: • Project delivered on time, and within budget • Documentation loaded into secured Data Room for client draw down • Meeting the clients expectations regarding complex billing requirements Key Learnings: • Having the right skills and knowledge in the right jurisdictions • Clear and consistent instructions • Careful project management of costs
  21. 21. Case Study – Diversified Industrial The Challenge: • Our new client, a large diversified global manufacturing company needed a full legal audit review to understand their position in respect of legal compliance across their global Operations in 24 countries, with over 200 legal entities • Three Month project The Approach: • The review was to focus on the compliance areas of Operating license and permits, Real Estate portfolio and Company Secretarial information • Compliance audit project managed from the UK (Eversheds Consulting, Partner supervision and subject matter expertise support) identified over 250 entities • Coordination/consolidation to 185 global entities with GC based on our findings • Advice collated in consistent report friendly format and presented to client via secure online data room The Outcome: • Project delivered to client requirements, including change of scope • Detailed audit spreadsheet providing documentation and legal compliance detail and information • Copies of scanned legal documentation loaded into secured Data Room for client draw down • Guidance and advice consolidated into single user friendly report with risk based RAG rating and executive summary Key Learnings: • Clear and consistent instructions at outset • Internal communications on project objectives • Subject matter expertise • Careful project management of documentation and external counsel costs • Secure storage of scanned documentation
  22. 22. Polling Question 3 Have you now changed your opinion on how important to you is multi-jurisdictional legal compliance? •Yes •No
  23. 23. For further information Please contact: • Graham Richardson – Head of Eversheds Consulting: grahamrichardson@eversheds.com • Stephen Hopkins – Head of Global Client Development: stephenhopkins@eversheds.com
  24. 24. Upcoming SHINE events • 6 November – Carrie: female in house lawyer networking event • 26 November – SHINE conference London • 27 November – SHINE webinar: Cyber security: whose problem is it? • 18 December – SHINE webinar: Managing external costs • For more information and to register: http://www.eversheds.com/global/en/what/services/in-house- counsel/events.page
  25. 25. © EVERSHEDS LLP 2014. Eversheds LLP is a limited liability partnership.

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