Corporate Governance & Compliance
Lecture, 3.00 ECTS
The LV discusses compliance with laws, regulatory requirements, codes of conduct, best practice standards and voluntarily followed guidelines in a company, with a focus on the banking respectively insurance sector. The course will also discuss the implementation of compliance management and illustrate it with practical examples, and will raise awareness of corporate governance in general, with special emphasis on the rules for good and sustainable corporate management and control in Austria.
The core contents include:
 Basics and scope: laws, guidelines, regulation, codes of conduct;
 Practical implementation in the company; compliance management systems; implementation challenges;
 Standard Compliance Code of the Austrian Banking Industry (WKO) and the Austrian Insurance Industry (WKO);
 Compliance Codes in international comparison;
 Austrian Corporate Governance Codex;
 OECD Principles of Corporate Governance; European Corporate Governance Framework;
 Corporate Governance specifics in the financial and insurance sector;
Optional contents may include:
 Comparison of the Austrian Code with other national codes: e.g. Swiss Code of Best Practices.
Graduates understand the legal, regulatory and consumer protection framework for companies in the financial sector, in particular banks, and recognize the importance of subordinating their business activities to these requirements. In this course, special attention is given to compliance regulations in the banking and insurance sector. It is primarily concerned with the legal basis of compliance and its implementation in the company.
Graduates understand the importance of ethical, social and environmental, sustainable and responsible corporate governance. Furthermore, they have detailed knowledge of the corporate governance rules applicable in Austria. Thus, graduates have ethical and CSR competence that they can apply in designing internal processes, evaluating business models and dealing with customers.
Recommended or required reading and other learning resources / tools
References: Brink (2011): Corporate Governance and Business Ethics, Springer. CFA Institute (2010): Standards of Practice Handbook 10th, CFA Verlag. Crane et al (2013): Corporate Social Responsibility, Readings and Cases, Routledge. Hauschka (2010): Corporate Compliance, Beck. Hopt/Wohlmannstetter (2011): Handbuch Corporate Governance von Banken, Vahlen/Beck. Koslowski (2009): Ethik der Banken, Fink. OECD (aktuell): Grundsätze der Corporate Governance. Schenk/Eberhartinger (2012): Corporate Governance in Österreich, BWV. Schneider/Schmidpeter (2012): Corporate Social Responsibility: Verantwortungsvolle Unternehmensführung in Theorie und Praxis, Springer.
Hauschka (2010): Corporate Compliance, Beck. Jackson et al (2012): International Law in Financial Regulation and Monetary Affairs, Oxford. Lucius et al (2010): Compliance im Finanzdienstleistungsbereich, Springer. Schwarzbartl/Pyrcek (2012): Compliance Management, Linde.
Academic journals: -
Mode of delivery
3 ECTS integrated lecture
Prerequisites and co-requisites
Assessment methods and criteria
ILV: final examination, including immanent assessment in the practice part