Business Impact and Compliance Risks
As COVID-19 continues to spread worldwide, more and more governments are implementing heavy travel and work restrictions on individuals and companies. For many companies, these restrictions have severely disrupted or even halted business operations. Their priority is to implement alternative arrangements to ensure that the frontline business can operate as usual. However, another casualty of these travel and work restrictions has been to disrupt the very important activities of in-house regional and global compliance teams who are not able to provide direct oversight, training, and risk assessments to their local business operations.
This Baker McKenzie client alert discusses several of the main compliance risks that may arise from the COVID-19 outbreak disruption and what practical steps companies can take to pre-empt these risks.