Statutory, Legal and Compliance Requirements for the Oil & Gas Industry

Schedule
Jan | Feb | Mar 2022
Duration
5 Days
Difficulty
Intermediate
Methodology
Online Live | Onsite

Overview

In this Statutory, Legal and Compliance Requirements online training course, we examine complexity of issues encountered by the oil and gas industry compliance officers and managers which is a result of the regulatory regime and the increasingly dynamic nature of the oil and gas business and the risk scenarios which arise as a consequence. We introduce, demonstrate and test best practice recommendations for the role of the Legal and Compliance Officer, and the ever-increasing need within oil and gas business to comply with requisite statutory, regulation, and best practice and to ensure that their staff are

OBJECTIVES

  • At the end of this online training course, you will learn to: 
  • • The role and responsibilities of the compliance function within oil and gas practice, including the designated Compliance Officer roles, and the skills needed to successfully discharge these
  • • The issues to be considered in developing compliance policies and procedures
  • • A variety of core pieces of legislation which are relevant to the compliance function
  • • Key risk areas, including money laundering, cybercrime, bribery and corruption, data protection loss and financial services regulation
  • • Best practice risk management techniques

TARGET AUDIENCE

This training course is specifically designed for anyone in a compliance or risk management role within the oil and gas industry but will greatly benefit:

• Compliance Officers and Employees
• Risk Managers
• Compliance Managers, Associates and Analysts
• Contract Executives and Managers
• Staff whose job role includes legal compliance responsibilities

COURSE OUTLINE

• What is effective legal and regulatory compliance?
• Conduct of oil and gas business
• Prudential compliance
• What are the objectives of compliance?
• What is integrity in the eyes of the regulator?
• Managing regulatory compliance in a dynamic environment
• Regulators and their Power
• The role of the regulator
• Regulatory models
• Enforcement
• Regulatory rules
• The framework of a regulator
• The potential liability of regulators

• The need for, and objectives of law and regulation
• Sources of law and regulation
• Prevention of money laundering and financial crime
• Understanding money laundering offences
• Designing an effective reporting system
• Terrorist financing
• The USA PATRIOT Act and US extraterritoriality
• Money laundering and tax evasion
• Financial crime
• Preventing fraud
• Corruption
• Market manipulation/misleading statements, insider dealing, and market abuse

• Oil and gas business background
• Codes of corporate governance
• Regulatory principles
• Overview of commercial laws and mechanisms governing legal persons and arrangements
• Regulators
• Products and services
• The Role of the Compliance Officer
• Compliance structure
• The role of the Compliance Officer
• Key compliance activities and processes
• Risk-based compliance monitoring
• Investigating compliance breaches
• Training

• Compliance governance
• Internal and external relationships
• Links between compliance, culture and ethics
• Specific internal compliance control issues
• Risk management
• Key compliance issues
• Practical considerations
• Compliance oversight and internal controls

• Understanding where disputes are most likely to arise
• Understanding regulatory risk
• The risk management process: What to remember when designing an effective risk management system
• Opportunities and threats from risk management developments
• Dealing with regulatory issues and enforcement
• Why risk management of legislative breach must be included in compliance framework
• Key risk areas: financial crime and money laundering, cybercrime, bribery and corruption, data protection loss
• Best practice risk management techniques

Instructor

Mark Steele

Mark is certified trainer with 20+ years of experience in gulf and London. He has trained batches, corporates, individuals and companies from all over the world.

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