China Compliance

News & Analysis as of

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

The Avon FCPA Settlement – Part III

Today I conclude my 2014 blog posts with a final look at the Avon Foreign Corrupt Practices Act (FCPA) enforcement action. Before getting to the key lessons that a compliance practitioner may draw from this enforcement...more

2015 Hot Topics for Multinational Companies

As we enter the New Year, Littler's international practice has identified a number of key employment and labor law issues for multinational companies (MNCs). The past year has brought to the fore some challenging issues...more

2014 Proskauer Hedge Funds and Other Private Funds Annual Review

This year we saw a flurry of regulatory activity targeting investment advisers and hedge funds, private equity funds and other private funds (collectively, private funds). The following annual review is a summary of some of...more

International News: Focus on Compliance

In This Issue - Welcome to the final issue of International News for 2014. As regulatory oversight of companies—from Sarbanes Oxley and the Dodd-Frank Act to the Foreign Corrupt Practices Act and the UK Bribery...more

Critiquing FCPA Enforcement and the GSK Domestic Corruption Conviction

Recently the FCPA Professor posted a blog, entitled “Look in the Mirror Moments”, in which he used written commentary by the US Secretary of the Treasury to the Chinese government about the Chinese governments anti-trust...more

Leading Pharmaceutical Company Fined $491 Million for Bribery

A Chinese court convicted a large British pharmaceutical company of corruption and bribery while doing business in China. As a result, the company must pay a record-breaking fine of $491 million while each of the implicated...more

More Transparency- New Enterprise Information Disclosure Rules Take Effect

China has recently passed new laws requiring enterprises to disclose important information which the public can access. On October 1, 2014, new rules came into effect, Provisional Rules on Enterprise Information Disclosure...more

GSK China: Did Case Finish with a Bang or a Whimper?

In typical Chinese fashion, the prosecution of GSK and several GSK executives ended after a one-day “trial.” GSK paid a $489 million fine; and four criminal sentences were handed out with suspension of jail time and orders of...more

China Amps Up Anti-Corruption Effort – What This Means for Your Company

Last Friday, China’s 15-month-long bribery investigation into British multinational pharmaceutical GlaksoSmithKline (GSK) ended after a one-day trial in which the court found GSK’s local subsidiary guilty of bribing doctors...more

China Bribery Crackdown Underscores the Need for Stronger Compliance Programs and Risk Assessments

Recently, the Chinese government reported that GlaxoSmithKline (GSK) would agree to pay almost $500 million in fines to settle allegations of bribery, and that some former GSK employees would receive prison sentences. While...more

Lessons from GSK in China – Internal Controls, Auditing and Monitoring

One of the questions that GSK will have to face during the next few years of bribery and corruption investigations is how an allegedly massive bribery and corruption scheme occurred in its Chinese operations? The numbers went...more

GSK Convicted – We are really, really sorry we paid bribes (and got caught)

“GSK plc sincerely apologies to the Chinese patients, doctors and hospitals, and the Chinese Government and the Chinese people.” With those words, the British pharmaceutical giant GlaxoSmithKline (GSK) PLC was...more

FCPA Compliance and Ethics Report-Episode 82, continued fallout from GSK in China [Video]

In this episode of the FCPA Compliance and Ethics Report, I review the continued fallout from GSK in China. I discuss the trial of Mr and Mrs Humphreys and what it all means for the compliance practitioner going forward. ...more

Anti-Corruption Campaign in China—Causes of Corruption, and Hope?

The following guest post is the first part of an occasional series on the anti-corruption campaign in China. The authors are resident in the Hong Kong office of Dorsey & Whitney LLP. SECactions welcomes submissions from other...more

What Can You Do When Risk Changes in a Third Party Relationship?

The GlaxoSmithKline PLC (GSK) corruption matter in China continues to reverberate throughout the international business community, inside and outside China. The more I think about the related trial of Peter Humphrey and his...more

Where to Now St. Peter? – Due Diligence Going Forward in China

Whatever you might think of where his career went, Elton John had some great early stuff. I still rank Tumbleweed Connection right up there as one of my favorite albums of all-time. And while it was packed with some great...more

Nixon Announces Resignation; GSK Just Resigns

Next week, Shanghai’s No. 1 Intermediate People’s Court is scheduled to open a trial against Peter William Humphrey, a 58-year-old British national, and his wife, Yu Yingzeng, a 61-year-old American, on charges of illegally...more

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