A game-changer in the making: The pending German Corporate Sanctions Law

28 Jul 2021 1300 - 1400 BST

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A webinar presented by the IBA Anti-Corruption Committee

Due to the pandemic, the signature IBA Anti-Corruption Conference, originally scheduled for June 2020 in Paris, has not taken place. However, we did not want to miss important milestones in the overall compliance landscape. While the long overdue new German Corporate Sanctions Law might not become the next United States Foreign Corrupt Practices Act or United Kingdom Bribery Act, this legislative initiative will significantly change the compliance landscape for German companies, as well as international corporations with business interests in or with the country.

On 22 April 2020, the German Federal Ministry of Justice presented a new draft bill to strengthen integrity in business. The final draft bill of the new Associations Sanctions Act (Verbandssanktionengesetz) was sent into the alignment stage with the federal states, as well as public associations and interest groups, until 12 June 2020. The Federal Government turned the draft bill with very minor changes on 16 June 2020 into the present government bill and on 18 September 2020 the Federal Assembly (Bundesrat) passed this initiative – however under fierce criticism and requiring significant changes in the next and last stage of legislation, i.e. the Federal Parliament (Bundestag). 

Despite – or rather because of – the current pandemic, the introduction of the latest version of the proposed Associations Sanctions Act remains a major initiative in Germany. In the legal community, it has been dubbed ‘arguably [the] most incisive law of the last decades’. Unlike the new German Corporate Due Diligence in Supply Chains Act, which was passed on 11 June 2021, the fiercely debated Associations Sanctions Act could not be passed prior to the German parliamentary break starting on 28 June 2021. On 26 September 2021, federal elections will take place in Germany and political parties have included a commitment towards a new legal regime for corporate misconduct in their respective electoral programmes.

Such a new legal framework would almost certainly create a genuine game changer for Europe's largest economy and exporting nation. With these auspices it is high time for all companies doing business in or with Germany to prepare for new legal requirements and incentives.

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Fees

  Prices in GBP + UK VAT @ 20%, where applicable:

IBA members

Free

Non-members

Free

 

Certificate of Attendance

Certificates of attendance for this webinar are only available to IBA members. IBA members who have attended the live broadcast for more than 30 minutes based on verified sign-in and sign-out times will be sent a certificate to the email address provided at the time of registration. Certificates can only be issued to the name provided at the time of registration. If you have any queries relating to your certificate of attendance, please email webinars@int-bar.org.

Moderator
Eric Mayer

Moderator
GSK Stockmann, Munich, Germany; Secretary, Anti-Corruption Committee

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Confirmed speakers
Peter Solmssen

Speaker
. , Boca Grande, Florida, USA; Chair, Non-trial Resolutions of Bribery Cases Subcommittee

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Felix Burkhart

Speaker
Federal Ministry for Economic Affairs and Energy, Berlin, Germany

Martin Petrasch

Speaker
Siemens, Munich, Germany

Sabine Stetter

Speaker
stetter Rechtsanwälte, Munich, Germany; Membership and Communications Officer, Anti-Corruption Committee

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