Having not secured a deferred prosecution agreement in respect of U.K. Bribery Act offences since 2021 and having been rocked by a series of shortcomings regarding its investigation and prosecution of cases, the SFO has arguably been at its lowest ebb.
Investigations are an essential tool for ensuring a company’s ethical standards are being followed by employees, business partners, and any others with whom the company interacts. However, investigations are also an essential tool for demonstrating and maintaining strong corporate governance – an integral part of a company’s ESG commitments and strategy. It is also a good time to set yourself some goals and resolutions. To help you on your way, we are pleased to share our top 5 Lunar New Year Resolutions for handling Internal or Government Investigations
The Guide to Compliance, published by Global Investigations Review (GIR), brings together compliance guidance and criminal enforcement trends relating to financial crimes and misconduct. Baker McKenzie partners have contributed two chapters in GIR’s guide.
The chapter on Asia Pacific Compliance Enforcement covers key areas of enforcement priorities, including anti-bribery and anti-corruption, anti-money laundering and other key criminal offenses affecting multinational corporations, and provides an overview of emerging compliance issues and enforcement trends relevant to cross-border business.
The chapter on Compliance Issues in Corporate Transactions covers key compliance areas in due diligence, how to go about an effective assessment of compliance policies and procedures or issues in third-party dealings, and the process of remediating any compliance issues identified during due diligence.
* An extract from the first edition of GIRâs The Guide to Compliance. The whole publication is available at the GIR website.
The Stock Exchange of Hong Kong Limited has amended its Listing Rules, including the Corporate Governance Code, to enhance the corporate governance framework and promote good governance among issuers. The amendments follow a consultation period and the conclusions drawn in the published Consultation Conclusions.
On 29 December 2021, Hong Kongâs Independent Commission Against Corruption issued a reminder to the insurance sector to remain vigilant in upholding a high integrity standard and to take a proactive stance against corruption.
We would like to invite you to join our webinar on 28 July 2021 as Baker McKenzie partners across various key jurisdictions provide an overview on the latest developments and trends impacting the AML landscape in Asia. Speakers from Hong Kong, Indonesia, Malaysia and Singapore will share updates on cross-border AML issues being faced across the region and their insights on managing this risk through compliance efforts.
On 24 June 2020, the China Banking and Insurance Regulatory Commission (CBIRC) issued a circular on Carrying out the Follow-up Checks for the Rectification of Market Problems in the Banking and Insurance Sectors (the “Circular”). The CBIRC proposes to launch follow-up checks to review the steps taken to correct industry problems identified in the past three years following some high-profile cases, particularly in the areas of corporate governance, risk management and repeated violations of several laws and regulations.
Our alert sets out a brief summary of key “follow-up” checks outlined in the Circular and provides some practical tips that we have developed from our own experience on how companies can ensure their compliance programs satisfy the guidelines. More information can be found in our guide on 5 Essential Elements Of Corporate Compliance.
The Hong Kong National Security Law took effect on 30 June 2020. The 66-article law criminalizes four types of acts: secession, subversion of State power, terrorist activities, and collusion with foreign or external forces to endanger national security. It also stipulates the corresponding penalties, which in the most serious cases,…
On 30 June 2020, the Law of the Peopleâs Republic of China on Safeguarding National Security in the Hong Kong Special Administrative Region (NSL) came into operation in the Hong Kong Special Administrative Region (HKSAR). Broadly speaking, the NSL criminalizes four types of acts: (1) secession, (2) subversion, (3) terrorist…
On 22 June 2020, the US Court of Appeals for the Second Circuit affirmed the convictions of two foreign nationals, Juan Angel Napout and Jose Maria Marin, former officials of the FĂ©dĂ©ration Internationale de Football Association (FIFA) and the ConfederaciĂłn Sudamericana de FĂștbol (CONMEBOL), for conspiracy to commit honest services wire fraud. The Second Circuit held that the use of US wire services could be sufficient in itself to confer US jurisdiction over foreign nationals in such prosecutions, even if the remainder of the fraudulent scheme took place outside of the US.Â
In 2017, Napout and Marin were convicted of conspiracy to commit honest services wire fraud (among other charges) after the jury found that they had accepted bribes from media and marketing companies in exchange for giving them broadcasting and marketing rights in connection with football tournaments under their control. In 2019, the pair jointly appealed their convictions, which the Second Circuit affirmed.