New German Coalition Puts Corporate Compliance Back on the Agenda

Berlin, Germany — (SBWIRE) — 01/28/2022 — As of December 2021, corporate criminal law, with an emphasis on compliance and rules for internal investigations, has been pushed back to the top of the agenda in Germany. The coalition agreement created by Germany’s prospective new government sets out ways in which the new administration is intending to reform the current system of corporate criminal law. It’s likely that this will be a revision of already existing regulations on corporate sanctions in the Administrative Offences Act, the Code of Criminal Procedure, as well as other provisions. It’s here that corporate compliance obligations are likely to be clearly defined for the first time. The purpose is to meet the demands for clear guidance that have been made by businesses – representatives of the coalition have made clear that compliance guidance and any compliance measures will be “as clear and comprehensive as possible.” Currently, the precise legal framework for the new provisions on corporate compliance remains open but there should be more clarity by the end of the year.

Established in 2004, Selby Jennings is a compliance recruiter with the resources to support companies all over Germany, and beyond, in building strong teams to cope with continuous changes, such as the incoming updates to corporate compliance in Germany. As well as being an experienced compliance recruiter the firm also provides hiring support across a number of other key, related fields, including quantitative research and trading, commodities, investment management, private wealth management and financial technology. The firm’s resources include a database of more than a million mid-to-senior professionals and an extensive network of connections with key employers. Thanks to its broad expertise and agile and dedicated team, Selby Jennings is able to support a very broad spectrum of organisations, from start-ups to traditional institutions, and is a go to for ambitious talent looking to take a career-defining next step. A combination of permanent, contract and multi-hire solutions means the team can always design options that work.

Selby Jennings is a compliance recruiter with extensive reach in Germany, including major cities such as Frankfurt, Berlin, Munich, Hamburg and Cologne. In addition, the team in Germany is integrated into a 1,000+ strong worldwide workforce, adding a unique global dimension to what the team is able to offer as a compliance recruiter on an international stage. Not only that but the firm is also the recruitment partner of choice to hundreds of world-leading companies as part of the Phaidon International group, which operates across 6 countries. A robust internal talent base has provided Selby Jennings with the firm foundations it needed for growth over the years. Consultants at the firm are trained on an ongoing basis and work with best-in-class recruitment technology and strategies. Selby Jennings is a compliance recruiter able to provide access to many different roles across banking and financial services, including Compliance Officer, Risk Manager [UCITS & AIF] and CEE Physical Power Trader.

The team at Selby Jennings said, “Little did we know that the pandemic would spark a new chapter for financial services. From ever-evolving regulations, mercurial consumer expectations, digital transformation, to the heightened competition from incumbents and new entrants, financial services verticals evolved at lightning speed – all while in a stage of poised recovery with the need to future-proof operations from additional disruption.

Alongside challenges brought on by the pandemic, financial services in 2021 were gripped by the wider political and socio-economic context that was Brexit, as banks and financial institutions packed their bags to move some, or all, of their operations to cities across Europe. However, Financial Services were one of the few bright spots of the past year, providing fuel to the economy and scaling up in a time where many sectors wouldn’t take the risk. 2022 is already shaping up to be a record-breaking year in terms of talent movement, and we can’t wait to help clients secure that world-class talent.”

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