I welcome you to a new series entitled Compliance Man Goes Global podcast of Compliance Report-International Edition. I am joined by Tim Khasanov-Batirov, a compliance practitioner who focuses on high risk markets for 17 years. In each podcast, we take two typical concepts or more-probably misconceptions from in-house compliance conventional wisdom. We check out if these concepts work in emerging jurisdictions. For each podcast, we divide roles with one of us advocating the particular concept identifying pros; the other will provide arguments finding cons. Tim will conclude each concept with some practical solutions for in-house compliance practitioners for high-risk emerging markets.
Today we explore the following two concepts:
Corporate Concept #1. We have detailed policies in the HQ. We deployed those policies at our subs located in emerging markets. We will be just fine.
Corporate Concept #2. If there is a compliance person located at high risk market we could significantly mitigate our corporate compliance risks.