Regulatory Compliance, Foreign Investment & Labour
Compliance & Investment
Compliance programmes, investment licensing and labour arrangements constituted to withstand a supervisory system of rising requirement.
/ The Practice
Regulatory compliance has become a strategic position for serious institutions, under a supervisory system extending to the Capital Market Authority, the Saudi Central Bank, the Oversight and Anti-Corruption Authority, the General Authority for Competition and the sector regulators. Regulatory risk is now measured by the mark it leaves upon the standing of the institution and upon the future of its operations. Upon the investment side, the Kingdom stands among the most open destinations in the region following the reform of the Investment Law and of foreign ownership, an openness that carries fine regulatory particulars requiring construction from within.
Contact the Firm/ Practice Details
Scope: Conducted by its own specialists, in coordination with Corporate & Transactions
Serves: Regulated businesses, banks and insurers, government entities, foreign investors entering the market, and institutions preparing for audit, licensing or accreditation
Focus: Compliance programmes, regulatory risk, internal investigations, licensing before the Ministry of Investment, and Saudi Labor Law obligations
Engagement: Assessment, constitution, licensing, instruction
Enquiries: Submit the Matter
/ The Reading
A supervisory system revising its requirements each year leaves compliance appended afterwards permanently in arrears. What is remedied once the structure stands costs more, holds less, and is defended before a regulator with greater difficulty. The Firm constitutes the compliance position within the structure, so that the institution is able to produce its own record at the moment a regulator calls for it.
/ Scope of Services
Compliance Programmes & Regulatory Risk
Integrated corporate compliance programmes, assessment of regulatory risk across the supervised sectors, and the governance of the institution's relationship with the authorities exercising supervision over it.
Internal Investigations & Regulatory Notices
Conduct of internal investigations, response to regulatory notices, handling of sensitive matters before the supervisory authorities, and instruction of executive management upon what compliance requires of it.
Foreign Investment & Licensing
Structuring of foreign investment upon the terms most advantageous in law and in tax, licensing before the Ministry of Investment and the sector authorities, and negotiation of terms of entry with government bodies.
Labour Relations & Saudization
Drafting of executive employment contracts and human resources policies, compliance with Saudization and with the Saudi Labor Law and its regulations, and conduct of labour disputes of particular sensitivity.
/ Method
The work is commenced by establishing which authorities in truth exercise jurisdiction over the institution, what each of them requires, and where the present practice stands against those requirements. The programme is constituted upon that finding, and constituted to be operated by the institution's own officers.
/ Standards of Engagement
Compliance by Constitution
Controls and policies are constituted within the structure from the outset, which spares the institution the cost of subsequent remedy and holds the present in alignment with what the regulator will require next.
Defensible Before Regulators
Every position is documented so that it may be defended before the supervisory authorities, with evidence packages available to the board at any moment.
Operated From Within
Frameworks and policies are delivered entire, constituted to be practised by the institution's own officers once the engagement is concluded.
/ The Firm's Commitment
The compliance frameworks the Firm constitutes continue to operate after the engagement is concluded, being constituted for those who will operate them. Regulatory risk is measured by the mark it leaves upon the standing of the institution, and that is the measure upon which the Firm works.
Dr. Bisher Abdulilah
Founder, Hoquqi
