Governance, Investigation and Compliance

Regulatory landscape is becoming more complex by the day. Businesses are expected to have comprehensive sets of internal policies and regulations in respect of the way the business is governed, how it meets their social and legal responsibilities etc.

 

Apart from the local rules and regulations that you will need to abide by, any business that is looking to trade globally or especially work with Western partners, is now under pressure to have strong regulatory compliance measures in place to match that of the international good practice.

 

Our firm understands all too well the importance of creating the right regulatory framework for you and your business, to ensure your continued growth and future success. We are able to provide clarity on the regulatory compliance for your business. Our experts have the knowledge and experience within a vast number of sectors, including mining, finance, energy, betting and gambling and many more. Our dual-qualified lawyers are also able to guide you on rules and regulations in the international trade context.

 

It is vital to understand the rules within the sector that you operate in. Our team has vast experience in working with Regulators (institutions like the Central Bank of Armenia, Public Services Regulatory Commission, Chamber of Advocates) and understands their requirements, as well as how to navigate them. We ensure that the compliance and governance strategies that we develop, are well balanced, pragmatic and contribute to the smooth running of your business. With our deep understanding of the key business sectors, we are able to offer flexible solutions that respond swiftly to the changing regulatory environment.

 

If you are a regulated business, chances are that you will have a regulatory visit or investigation to deal with at some point. In such matters, our wide-ranging experience can be indispensable in securing a positive outcome. In fact, we have years of experience in providing consultancy in the energy and banking and investments sections. We helped one of the biggest electricity providers in the region to set up new electric power stations and devised numerous governance plans for banks, investment companies and investment funds.

 

Our work will ensure you are ready for such investigations before they even happen. With our deep understanding of what the Regulators look for, their thinking and we are able to evidence your compliance, in a manner that is the least disruptive for your business. Our most important objective is to ensure your business is able to continue as normal and that your relationship with the Regulator remains constructive.

With the introduction of criminal liability for legal entities operating within Armenia (according to the RA Criminal Code adopted on May 5, 2021 which will become in force on January 1, 2023), the importance of compliance programs among private actors has gained significant momentum. Expanding companies that have foreign investors or multiple operations around the globe are already on high alert due to the extraterritorial application of certain anti-corruption and anti-fraud regulations such as the UK Bribery Act 2010, the French SAPIN II, and the United States Foreign Corrupt Practices Act. They appreciate the role of compliance programs in limiting responsibility and sanctions and are part of our continual pool of clientele.

 

Dimension Legal RVS is working with different international donors, universities, legislators and government agencies to cement the role of compliance programs in the local and regional market. We believe that, regulations pertaining to the whistle-blower institution, application of UN Guiding Principles on Business and Human Rights, and Human Rights Due Diligence have gained certain urgency, especially, as compliance programs are a decisive factor in attracting reputable business partners and foreign investments.

 

In fact, one of our ongoing services to our clients pertain to compliance programs mandated through loan agreements and other financial instrument offered by international development organizations such as Asian Development Bank, European Business and Recunstruction Bank, International Financial Corporation, etc.

 

Our comprehensive approach to matter ensures that your business is protected throughout.

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Governance

 

We are well placed to advise a wide range of corporate and investor clients on governance, whether in general advisory capacity or on a specific transaction.

 

Corporate governance advice includes issues around how power is structured between the board and the shareholders, how the boards are composed, what responsibilities the directors have, remuneration related aspects etc.

 

We are actively engaged with the current public policy debate in respect of corporate governance and deeper regulatory requirements. We have strong connections with industry bodies that are heavily involved in shaping the future regulations.

 

Key services we are able to provide in this respect:

 

  • Conduct analysis against the accepted local and international standards and Codes of Best practices;

  • Preparing and advising on corporate constitutions, shareholders rights and matters reserved to the board;

  • Advising on reporting obligations and preparing relevant polices;

  • Preparing and reviewing policies and procedures in relation to internal oversight and risk management, including whistleblowing, transaction policies, fraud and corruption policies, ethics codes etc.;

  • Advice on reputation protection;

  • Drafting and advising on director and employee remuneration incentive arrangements that helps drive engagement within the business;

  • Advising on shareholder and board disputes;

  • Assistance on listing the company on a local or foreign stock exchange, diagnostic review, drafting a roadmap detailing all the actions that should be taken before the listing becomes possible.

Internal Investigations

 

Our internal investigation lawyers help companies to uncover or deal with already known issues that might have criminal, regulatory or civil repercussions. Our lawyers are able to help in cases of bribery, fraud, money-laundering breaches, market manipulations, regulatory failures etc.

 

In investigative matters our lawyers will help you uncover the full depth of the issue, identify the causes and eliminate them, to avoid future risks. More vitally, they will help secure you the vital evidence, manage the crisis, propose a reputation management plan and offer you a sensible roadmap in respect of how to protect your business during such trying times.