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Europe steps up its fight against fraud
European watchdogs have long been focusing on enforcement against corporate crime with a great focus on anti-corruption, economic sanctions and money laundering.
Australia | Publication | October 2020
As the economy starts to slowly reopen, franchisors will need to consider what concessions should be made in relation to their network’s usual standards and procedures.
Depending on the kind of business the franchisor’s network is engaged in, this could look quite different from network to network. However, to ensure the best possible reemergence from the COVID-19 period franchisors should carefully consider what sorts of concessions will help their network to quickly return to its pre-pandemic position.
Some of the potential concessions franchisors should consider may include:
It is important for franchisors to properly document any temporary concessions made to their networks. This may be via a simple letter acknowledging a temporary acquiescence to a change, or via a formal variation to the Franchise Agreement.
Depending on the kind of concession the documentation may vary. For example, franchisors should consider whether a particular concession, such as operating hours, will apply to the whole network or to select franchisees who continue to face harsher government restrictions due to their size or location.
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European watchdogs have long been focusing on enforcement against corporate crime with a great focus on anti-corruption, economic sanctions and money laundering.
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The Digital Markets, Competition and Consumers Act (DMCC Act) received Royal Assent on 24 May 2024 and is generally expected to come into force in autumn this year.
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Head of Legal Operations, Stephanie Hamon, will be joining the panel discussion on "Simplifying Legal Tech Adoption and Implementation" at the Legal Tech Talk conference on June 13th (3:30 - 4:15 PM).
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