China Compliance

News & Analysis as of

US and China Expand Law Enforcement Cooperation

Global anti-corruption efforts continue to increase. For global companies, this trend makes compliance even more critical. One of the most significant aspects of this trend is the US government’s cooperation with China....more

Bristol-Myers Squibb FCPA Enforcement Action

Yesterday, the Securities and Exchange Commission (SEC) announced a Foreign Corrupt Practices Act (FCPA) enforcement action against Bristol-Myers Squibb Company (BMS) for the actions of the company’s joint venture (JV) in...more

August FCPA Compliance Digest

August more than made up for the relative peace and quiet of July. This month’s digest features two new FCPA settlements, an update on Wal-Mart’s spending to resolve FCPA and compliance-related weaknesses and new anti bribery...more

Keep Your Frenemies Close: Proposed China Sanctions and the Price of Escalation

On August 30, 2015, the Washington Post broke a story that the Obama administration is developing a package of economic sanctions that will target Chinese companies and individuals who have benefitted from cybertheft. The new...more

Top Ten International Anti-Corruption Developments for August 2015

In order to provide an overview for busy in-house counsel and compliance professionals, we summarize below some of the most important international anti-corruption developments in the past month, with links to primary...more

Archie Bunker, Batgirl and the International Fight Against Corruption

This week saw the death of two notables from the television industry, Bud Yorkin and Yvonne Craig. According to his Obituary in the New York Times (NYT), Yorkin rose up the television industry ranks to eventually team with...more

BNY Mellon Settles First Sons and Daughters (and Nephews) FCPA Hiring Matter – Part I

Yesterday the Securities and Exchange Commission (SEC) announced a resolution with Bank of New York Mellon Corporation (BNY Mellon) for violations of the Foreign Corrupt Practices Act (FCPA). This was the first enforcement...more

Mead Johnson: Baby Formula and Bribes

Last week, the SEC announced a settlement of an FCPA enforcement action for $12 million against Mead Johnson Nutrition for payment of bribes in China to health care professionals at state-owned hospitals. Mead Johnson’s...more

Social Media Week Part IV – Telling a Story About Honey

I continue my exploration of the use of social media in doing compliance by taking a look at a very innovative social media solution to a difficult compliance issue around, of all things, honey. This example shows how...more

FinCrimes Update - July 2015 Summary Volume 2, Issue 7

AML/BSA & OFAC: OFAC PROVIDES GUIDANCE TO FINANCIAL INSTITUTIONS TO HELP COMPLY WITH CRIMEA SANCTIONS REGULATIONS - On July 30, OFAC issued a “Crimea Sanctions Advisory,” highlighting certain actions that have been...more

Federal Reserve Orders Chinese Bank to Overhaul its BSA/AML Compliance Program

On July 21, a leading China-based bank agreed to address deficiencies in connection with the BSA/AML risk management and compliance program of its New York branch office. The Agreement, entered into with the Federal Reserve...more

China’s Focus on Combatting Commercial Bribery Is a Wake-Up Call

Earlier this month, six former employees of Tencent Holdings (Tencent), including Liu Chunning, a now high-level executive of Alibaba Group, were detained by Chinese authorities as part of a bribery investigation relating to...more

Impact of Iran Accord on International Business - Briefing the "C" Suite on the Joint Comprehensive Plan of Action with Iran

On July 14, 2015, the United States, France, China, Russia, the United Kingdom, Germany and the European Union (EU) entered into the Joint Comprehensive Plan of Action (JCPOA) with Iran after years of difficult negotiations....more

Global Risk and Compliance: Q&A with Katherine Peavy

CREATe is delighted to announce the addition of Katherine Peavy to our team of experts. Katherine is a global compliance executive with more than 15 years’ experience in China managing multicultural teams to implement...more

Whistleblowing: An Employer’s Guide To Global Compliance

In This Issue: - Foreword - A Summary Across Five Continents - Law and Sanctions - The Legislative Framework: Whistleblower Protections Across the Globe - Global Differences: The Cultural...more

Antitrust Update: The Aggressive Global Enforcement Network

Companies face lots of risks – the soup du jour has been anti-corruption enforcement and compliance. Like any consistent restaurant you might visit regularly, one risk continues to grow, quietly and significantly –...more

Amendments to the PRC Advertising Law: The Practical Implications for Brands

When Will Things Change - The existing PRC Advertising Law (Existing Law) entered into force on February 1, 1995 and has not been amended since then. With the advance of the internet and the fact that the average person...more

Compliance Risk Logic’s Mastering Compliance in International Markets Conference

If you are in the Far East there is now a master conference centered around the top compliance practitioners in the region. Next month, from June 8-9, Compliance Risk Logic is putting on its a conference in Singapore,...more

Senate adopts Iran Nuclear Agreement Review Act

On May 7, 2015, the US Senate voted 98-1 to adopt the Iran Nuclear Agreement Review Act of 2015 (the "Act"). The Act is the culmination of months of legislative maneuvering and a debate over foreign policy and separation of...more

What Are Your Company's New Disclosure Obligations in China? – Potential Anti-Corruption Compliance Implications

In 2014, China adopted regulations intended to update and streamline company periodic reporting obligations. The regulations include a new obligation for compulsory interim disclosure of penalties imposed by PRC regulators...more

SEC Charges Underwriter and Bankers in Connection with Offering by China-based Issuer A Cautionary Tale of How Bad Facts and Weak...

On March 27, 2015, the U.S. Securities and Exchange Commission (SEC) announced charges against an investment bank and two of its bankers for failing to adequately review and escalate a due diligence report which contradicted...more

Focus on China Compliance - March 2015

Welcome to the first issue of Focus on China Compliance for 2015. In this issue, we start with an overview of China’s anticorruption laws, to which all companies operating in China must pay close attention in 2015. We then...more

What’s Missing from the Dialogue around FCPA Compliance Training?

The past few weeks have brought a slew of high-profile bribery cases. If you’re tired of reading about Alstom, Avon and Wal-Mart, you can read about Sony’s India operations and the Navy scandal. The Wall Street Journal has a...more

FCPA Compliance and Ethics Report-Episode 121-FCPA Year in Review, Part II [Video]

In this episode I review the two Opinion Releases, Esquenazi court decision, DOJ communications via speeches on FCPA enforcement. I end with a look at 2015. ...more

FCPA Compliance and Ethics Report-Episode 117-the Avon FCPA Enforcement Action [Video]

In this episode I take a deep dive into the recent concluded Avon FCPA enforcement action. ...more

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