Principles of Compliance and Good Corporate Governance

On 18 October 2016, compliance experts of Kosta Legal were invited to the conference ‘Principles of Compliance and Good Corporate Governance’ held at the Uzbek Research Center for Corporate Governance. German Commerzbank AG, which organized the conference, created a solid platform for discussion of increasingly important compliance and corporate issues in the Uzbek banking and financial sector. Mr Thomas Pionek, Chief Specialist of the Compliance Department of Commerzbank AG and Chief Advisor of the Society for Worldwide Interbank Financial Telecommunication (SWIFT), led the discussion and shared his rich practical experience in the compliance field, including ABC and AML compliance procedures, KYC investigations, use of IT compliance solutions, and the impact of US and EU sanctions on interbank transactions.

Kosta Legal, being the leading law firm in the compliance sphere in Uzbekistan, was recognized for its expertise and was the sole law firm invited to the conference. Mr. Maxim Dogonkin, the head of Compliance and Investigation Practice, was able to share his unique experience in the area of compliance with internal controls specialists of all banks operating in Uzbekistan and representatives of the regulator – the Central Bank of the Republic. Our lawyers also got an opportunity to establish close connections with some CIS bank that attended the conference.

We are glad to emphasize that lawyers of Kosta Legal are well experienced in elaborating complicated corporate governance structures and AML/ABC investigative due-diligence, tailoring them to each particular client and its specific needs. Our anti-money laundering program provides strong support for international efforts to combat money laundering, financing terrorism and other criminal acts.