Role of the compliance officer (CO)?
All companies must nominate a Compliance-attorney, who is responsible for reporting to the board of directors and supervisory bodies according to § 33 Abs. 1 Satz 2 Nr. 5 according to the Securities Act (Wertpapierhandelsgesetzes).
As regarding the guarantor role of the CO and its obligations, the German Supreme Court (BGH-Bundesgerichtshof) in its judgment of 17 July 2009 argues and finds that the CO in the sense of § 13 I StGB in regarding its function in the company is obliged to prevent any future criminal offenses and threats committed by members of the board and other management bodies.