Experience and Expertise
CoLegal has had more than fifteen years of professional experience, both in practising law and as supervisory officer (AFM). CoLegal well knows exactly what requirements own organisations must comply with. It closely monitors developments in the area of supervision and compliance. CoLegal has had broad experience in investigations and enforcement carried out by supervisory bodies (AFM, DNB and Tax Authorities) and by the criminal justice authorities, Fiscal Intelligence and Investigation Service (FIOD) and the Public Prosecution Service (OM). CoLegal can properly evaluate what the expectations of supervisory bodies are. CoLegal has broad expertise in the area of the Audit Firms (Supervision) Act (Wet toezicht accountantsorganisaties: the Wta), the Financial Supervision Act (Wet op het financieel toezicht: Wft), the Trust Offices (Supervision) Act (Wet toezicht trustkantoren: Wtt) and the Money Laundering and Terrorist Financing (Prevention) Act (Wet ter voorkoming van witwassen en financieren van terrorisme: Wwft), fraud and disciplinary rules.
CoLegal has a special interest in statutory and code of conduct obligations of professional service providers, management of integrity risks (financial economic criminality), fraud risks, reporting obligations and incident management. The obligations on the basis of those laws and (conduct) rules are wide-ranging and complex. CoLegal commits itself to helping organisations fulfil their obligations in the proper manner and mitigate (reputation) risks. It can assist in the drawing up and implementation of the correct procedures and measures and in resolving a specific issue. When necessary, it enters into consultation with supervisory authorities and offers counsel during investigations, procedures and proceedings.
The services provided by CoLegal are always tailor-made. They include:
- providing legal advice;
- preparation for (thematic) investigations by supervisory authorities;
- providing support during investigations, procedures and proceedings; and
- providing (in house) training courses
Examples of subjects on which CoLegal provides advice.
- Adequate compliance with legislation and regulations in the area of integrity supervision such as that under the Wta, Wft, Wtt, Wwft and Sanctions Act (Sanctiewet: Sw).
- Compliance with anti-money laundering rules as laid down in, amongst others, the Wwft.
- Sounding board in the area of integrity supervision including dealing with indications of fraud and the prevention of involvement in financial economic criminality (FEC) such as corruption, tax fraud and money laundering.
- Advising on the correct manner of fulfilment of reporting obligations (incidents and unusual transactions) and duties of confidentiality.
- Advising on ethical and controlled business practices including Systematic Integrity Risk Analysis (SIRA), interpretation of the norm ‘social integrity’ (maatschappelijk betamelijk) and the required audit and compliance function.
- Assistance with regard to the fit and proper (re)assessment of managing and supervisory board members.
- Incident management in order to manage (reputation) risks adequately.
- Counselling during investigations by supervisory bodies (DNB, AFM, BFT) and/or criminal justice authorities (FIOD, OM).
- Advising on competence of supervisory authorities and criminal justice authorities to conduct investigations and the possibility of cooperation and sharing of information between supervisory authorities or the criminal justice authorities.
- The designing and conducting of internal inquiries into misconduct.
- Relation management of supervisory authorities and criminal justice authorities.
- Anticipating thematic investigations of supervisory authorities.
- Objection/defence against supervisory measures such as (intentions to) impose instructions, orders for periodic penalty payments, warnings and penalties on enterprises and/or co-perpetrators and de facto managers.
- Assistance during disciplinary procedures, with the exception of lawyers (attorneys-at-law: advocaten).
CoLegal acts for enterprises and individuals with a clear focus on parties which hold a licence from the AFM or the DNB. CoLegal does not act against accountants/auditors (organisations) and financial enterprises.
CoLegal always works closely with its Clients when providing services. CoLegal has an extensive network and enjoys often working together with other specialists. A multidisciplinary approach is often necessary in order to resolve a problem property and definitively.