Statutory, Legal and Compliance Requirements for the Oil & Gas Industry (dubai, Online)

Compliance in Practice & Risk Management

In this Statutory, Legal and Compliance Requirements for the Oil & Gas Industry online training seminar, 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 appropriately trained.

This online training seminar is designed from legal compliance practitioner’s perspective and it provides a comprehensive overview of the oil and gas statutory and regulatory environment, the role of compliance professionals, their functions and position within the regulatory regime and their relationship with the business and other stakeholders.

This OXFORD training seminar on Statutory, Legal and Compliance Requirements for the Oil & Gas Industry will highlight:

• The statutory and regulatory environment in the oil and gas business
• The role and powers of the authorities (from international perspective)
• The style and features of regulation of oil and gas business
• The role and responsibilities of the compliance function within oil and gas practice
• 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
• Best practice risk management techniques
• Key risk areas

Seminar Objectives

This Statutory, Legal and Compliance Requirements for the Oil & Gas Industry online training course will enhance your ability to identify and determine the statutory, legal and compliance requirements within your organisation. It will boost your skills in ensuring that work activities adhere and is compliant with legal frameworks, while seeking to provide an environment which minimises the risk to all who operate within it.

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, cyber-crime, bribery and corruption, data protection loss and financial services regulation
• Best practice risk management techniques

Seminar Methodology

This online training course will utilize a variety of proven online learning techniques to ensure maximum understanding, comprehension, retention of the information presented. The online training course is conducted online via an Advanced Virtual Learning Platform in the comfort of any location of your choice.

Organisational Gains

Success can be learned, and failures avoided, by examining others' experience. Throughout this online training course, we draw on practical examples of best practice and well-documented failures to maximize your team's chances of success. Through practical examples, open discussion and interactive exercises, your team can gain the skills and confidence to deal with statutory, legal and compliance requirements within your organisation.

Personal Gains

Your team members will learn and have the opportunity to practice techniques for:

• Evaluating key elements of statutory, legal and compliance in the oil and gas business
• Why risk management of legislative breach must be included in compliance framework?
• Links between compliance, regulation and professional ethics
• Qualities required of compliance professionals
• Recent developments in legal and regulatory framework

Seminar Outline

DAY 1

Understanding Risk, Statutory, Legal and Regulatory Compliance

• 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

DAY 2

Understanding the Legal and Regulatory Environment

• 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

DAY 3

Industry Knowledge and Awareness

• 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

DAY 4

Compliance in Practice

• 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

DAY 5

Legislation of Relevance to the Compliance Function: Risk Management

• 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, Cyber-crime, Bribery and Corruption, Data Protection Loss
• Best Practice Risk Management Techniques