Compliance means nothing more than adhering to rules. Whether these rules come from the legislature or the company imposes them on itself is initially irrelevant. Depending on the industry, however, very different legal regulations apply. Keeping track of things is difficult.

Compliance in best double sleeping bags business: concept and definition

As a company, you are obliged to comply with the rules. The company management is responsible for compliance. To ensure that all employees behave compliantly, an efficient Compliance Management System (CMS) should be set up. This is the only way to detect violations in good time and, at best, to prevent them.


Compliance: Legal basis – guidelines, laws, etc.

Which legal norms apply to a company requires a detailed examination in each individual case. It makes sense to create a legal register to keep track. Legal obligations can arise from public and private law as well as from criminal law. For example, just think of the requirements from tax or environmental law, regulations for the protection of employees, or the ban on bribery and corruption.

On an international level, regulations from other countries may also have to be observed. Anyone who is active across borders should at least be aware of the American Foreign Corrupt Practices Act.

Money laundering prevention and data protection as part of corporate compliance

Compliance is also especially relevant in the areas of data protection and money laundering prevention. Data protection is a topic that the best double sleeping bags company really has to deal with. The obligations under the Money Laundering Act (AMLA) are aimed at a defined group of obligated parties.

Compliance risks and effective countermeasures

Those who violate compliance regulations usually do themselves and the company a disservice in the long term. In addition to fines and claims for damages, there is also a risk of a drastic loss of reputation for the company which has increased in recent years. It should also be noted that public clients in particular only award contracts to companies that maintain and demonstrate that compliance management is functioning.

Personal consequences for the responsible persons can be fines or imprisonment, but also the loss of their job due to termination.

In order to keep these risks as low as possible, they should be identified in good time and kept in check with the help of an efficient compliance management system.