Regulatory Compliance, ESG & Internal Investigations

The modern business environment is increasingly shaped by strict and complex regulations. Companies face constant adaptation to legislative changes, growing demands from regulators, and the expectations of investors and consumers. In such an environment, compliance becomes essential, not only to avoid legal risks and penalties, but also as a key prerequisite for safeguarding reputation, enabling sustainable growth, and attracting investment.

Compliance is crucial because it allows companies to minimize regulatory risks, build investor trust, ensure long-term business sustainability, and gain a competitive market advantage. Firms that establish clear internal policies and follow ESG standards not only avoid fines and disputes, but also become desirable partners for international investors and clients.

Why Zunic Law for Compliance?

  • Proven experience – over three decades of work with domestic and international companies on regulatory compliance across various industries.
  • End-to-end support – we guide clients from initial internal analyses and policy drafting, through investigations and corrective measures, all the way to representation before regulators and courts.
  • Multidisciplinary team – combined expertise in corporate law, labor law, data protection, environmental protection, and ESG standards ensures a comprehensive approach.
  • Innovative approach – we use modern tools and AI technologies for compliance monitoring and timely risk detection.
  • Personalized service – each client has a dedicated team that understands their business model and industry and provides solutions tailored to real needs.

Our Approach: Practical and Sustainable Solutions

Our goal is for compliance not to be perceived as a burden, but as an opportunity to improve business. That’s why we create policies and procedures that fit the client’s business reality, rather than complicated rules that hinder operations.

In addition to classic legal expertise, we include modern tools, training, and AI support for compliance monitoring.

Our approach simultaneously covers preventive action through internal checks and risk control, reactive support when a breach has already occurred, as well as strategic advice on ESG standards and responsible business.

Key Practice Areas in Regulatory Compliance, ESG and Internal Investigations:

  1. Introducing risk-control policies and measures
  2. Internal investigations
  3. Implementing corrective measures
  4. ESG implementation
  5. ESG due diligence in mergers and acquisitions
  6. Compliance training and employee education
  7. Compliance monitoring and periodic audits
  8. Representation of clients in court proceedings and dispute resolution

 

Below are details by area, with emphasis on the concrete results we deliver.

1) Introducing Risk-Control Policies and Measures

  • Advise clients on drafting comprehensive compliance policies that cover all business areas, from data protection and anti-corruption rules to environmental obligations.
  • Prepare documentation, such as bylaws, codes of conduct, and whistleblowing procedures.
  • Create internal control and reporting systems that enable management to respond in a timely manner.

 

Result: a stable framework for day-to-day operations in which risks are identified and controlled on time.

2) Internal Investigations

  • We help companies conduct internal investigations when there is suspicion of irregularities, breaches of regulatory or ethical standards.
  • Our team ensures that investigations are carried out lawfully and with respect for the rights of employees and other stakeholders.
  • We analyze documentation, contracts, electronic communications, and other relevant data.
  • We prepare reports with clear recommendations for further action and support management in decision-making.

Result: detection and neutralization of risks before they grow into serious legal or reputational problems.

3) Implementing Corrective Measures

  • When a compliance breach occurs, we help determine appropriate corrective steps.
  • Prepare remediation plans that include changes to internal procedures, additional employee training, and communication with regulators.
  • We support companies in negotiations with authorities to reduce or avoid penalties.
  • Help companies build systems to prevent recurrence of the same irregularities in the future.

Result: a swift and effective return to full compliance while maintaining the trust of regulators and partners.

4) ESG Implementation

  • We advise clients on how to embed ESG principles into business strategy and daily operations.
  • We focus on environmental issues (e.g., reducing emissions and waste), social responsibility (equal opportunities, employee rights), and corporate governance (transparency, ethical conduct).
  • We assist in preparing ESG reports and communicating with investors who increasingly require this type of information.
  • We provide special support to companies developing AI and technology solutions, as they are required to meet high standards of responsibility and transparency.

Result: operations that meet modern standards and strengthen reputation in domestic and international markets.

5) ESG Due Diligence in M&A Transactions

  • In mergers and acquisitions, we analyze the target company’s ESG risks.
  • We check compliance with environmental regulations, labor standards, and corporate governance practices.
  • We identify potential liabilities that could affect the transaction value and the buyer’s negotiating position.
  • Based on findings, we propose warranties and contractual mechanisms to protect the client’s interests.

Result: assurance that an acquisition or merger will not bring hidden ESG risks and that the transaction aligns with best business practices.

6) Compliance Trainings and Employee Education

  • We organize tailored trainings on key compliance topics: anti-corruption, data protection, antitrust rules, ESG standards, and codes of ethics.
  • Trainings may take the form of interactive workshops, e-learning modules, or specialized management sessions.
  • The goal is for employees to understand regulations and internal procedures, as well as the consequences of violations.
  • Trainings are practical and based on real business examples.

Result: increased employee awareness and reduced risk of internal lapses that could lead to regulatory breaches.

7) Compliance Monitoring and Periodic Audits

  • We provide continuous compliance monitoring through periodic reviews and reports.
  • This includes revising existing policies, testing procedures, and checking the implementation of internal rules.
  • We place special focus on high-risk areas: data protection, financial flows, and labor law.
  • Regular audits enable companies to detect risks in advance and prevent regulatory penalties.

Result: timely prevention and confidence that the company operates in accordance with applicable regulations at all times.

8) Representation of Clients in Court Proceedings

  • When disputes or proceedings arise due to compliance breaches, we represent clients before courts, arbitral tribunals, and regulatory bodies.
  • Our team combines dispute resolution and compliance expertise, enabling us to take a strategic approach.
  • We actively participate in negotiations with regulators, seeking solutions that affect the company the least.
  • Our goal is to protect clients’ business interests and reputation, while minimizing costs and disruptions.

Result: effective defense and legal protection that ensures business continuity.

What Collaboration with Us Looks Like

  • Initial analysis – we assess regulatory risks and business processes to identify potential breaches.
  • Strategy definition – we create a compliance plan covering policies, procedures, and internal controls tailored to the client’s industry.
  • Documentation preparation – we draft internal acts, compliance programs, ESG policies, and reporting procedures.
  • Implementation and training – we put policies into practice, train employees, and set up monitoring and reporting mechanisms.
  • Ongoing support – we regularly update policies in line with regulatory changes and provide advice in regulatory proceedings.

Examples of Completed Projects (Non-Confidential)

  • Compliance program for an IT company – developed internal policies and procedures for data protection and conflict-of-interest prevention.
  • ESG due diligence in an M&A transaction – analyzed the target company against ESG standards and prepared a detailed report for the investor.
  • Internal investigation in the manufacturing sector – conducted an investigation into breaches of internal procedures and proposed corrective measures.
  • Employee training in the financial sector – organized workshops on anti-corruption measures and competition rules.
advokat za nekretnine

Vitomir Žunić

Zunic Nemanja

Nemanja Žunić

Frequently Asked Questions (FAQ)

1. Are ESG standards mandatory for all companies?

ESG standards are not yet legally mandatory for all companies in Serbia, but they are becoming a crucial factor in business.

The European Union is introducing mandatory ESG reporting for a large number of companies, and this trend directly affects Serbian firms that work with European partners.

Many multinationals already require their suppliers and partners to implement ESG policies.

Therefore, ESG is viewed not only as a legal framework but also as a business standard that determines market attractiveness.

The first step is conducting an internal assessment of the current state – a “compliance check.”

It includes a review of contracts, policies, internal acts, and practices in working with employees and partners.

Based on the findings, a compliance plan is prepared with clear steps, deadlines, and priorities.

Most importantly, the plan must be adapted to real business needs, rather than being mere formal fulfillment of legal obligations.

No. Although large companies are under greater regulatory scrutiny, compliance is equally important for small and medium-sized enterprises.

Fines and reputational damage can be much harder on smaller companies.

Moreover, firms that plan to work with foreign partners or attract investors must demonstrate that they operate in line with standards.

In today’s business environment, reputation is as important as financial results. Companies that neglect compliance risk lose the trust of customers, investors, and employees.

Conversely, firms that proactively apply compliance standards and ESG policies build a reputation as reliable and responsible partners, which often opens doors to new markets and cooperation opportunities.

Compliance should be seen as an investment, not a cost. While it may initially require resources for policy development, employee training, and internal checks, in the long run, it reduces the risk of fines, litigation, and lost business opportunities.

A single regulatory penalty or termination of a key contract due to non-compliance can far exceed the cost of implementing a compliance program.

Lawyers play a key role in shaping policies and procedures that comply with regulations yet remain practical for daily operations.

They assist in conducting internal investigations, advise on corrective measures, represent clients before regulators, and deliver employee training.

Their task is not only to react to problems, but also to anticipate and prevent them.

ESG due diligence involves checking whether the target company operates in compliance with environmental protection regulations, labor rights, occupational health and safety, and corporate governance.

If irregularities are found, they can significantly affect the transaction’s value. Investors are therefore advised to always conduct ESG due diligence and include protective mechanisms in negotiations (warranties, corrective measures).

Depending on the type of violation, the regulator may impose a fine, prohibit certain activities, require corrective measures, or initiate court proceedings.

In such situations, it is crucial to have legal counsel familiar with the procedure who can negotiate with the regulator to mitigate consequences.

In these cases, our team not only provides representation but also prepares a plan to re-establish compliance and restore partner trust.

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