All China articles – Page 2
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ArticleMy Compliance Library: 'China's Crony Capitalism'
In China’s Crony Capitalism, we see a system that is endemically corrupt and nearly impossible to reform. Richard Bistrong explores the 2016 novel by Minxin Pei.
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Article
China amends, clarifies law addressing commercial bribery
For the first time in two decades, Chinese regulators have amended the Anti-Unfair Competition Law, giving companies more clarity on what constitutes commercial bribery.
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Article
The China conundrum: balancing risk and reward
From White House intervention to tough new cyber-security laws, doing business in China is becoming even more difficult for U.S. companies.
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Blog
MoneyGram merger is latest casualty of CFIUS, Chinese trade battle
MoneyGram and Ant Financial Services Group, an affiliate of China-based Alibaba, have mutually agreed to terminate their planned merger due to their rejection by the Committee on Foreign Investment in the United States. The rejection is the latest effort by the Trump Administran to curb corporate dealmaking with Chinee entities.
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Blog
PCAOB disciplines PwC, Crowe Horwath affiliate
The PCAOB has disciplined PwC over a broker-dealer audit lapse and Crowe Horwath HK over an investigation involving a China-based company.
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ArticleA look at China’s sweeping new cyber-security law
Beijing has officially put foreign companies operating within China on notice: Improve your data privacy practices and cyber-security controls, or face the consequences.
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Blog
China continues to be a source for FCPA violations
An astounding 16 corporate FCPA enforcement actions in 2016 were derived from China, leading The Man From FCPA Tom Fox to explore how to tackle business relationships with the complex country.
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PCAOB publishes views on conflict with China rules
To address how U.S. audit rules intersect with those in China, the PCAOB has published a four-page Q&A to explain its views on why firms subject to its rules should observe them. Tammy Whitehouse reports.
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Blog
Ethics training and parking spaces
A parking space is seen as a definite perk for U.S. executives, but perhaps not so in other countries. Tom Fox looks at the recent case of former Daimler President Rainer Gärtner, who—while operating out of the firm’s China-based location—overreacted to improper use of his parking spot.
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Blog
Tales of crocodile tails under the FCPA
While the FCPA makes clear it prohibits providing anything of value to a foreign governmental official, who’s to say what has value? For U.S. officials, it could be jewelery, cash, or sports tickets. But for Chinese executives, it could be something more exotic, say ... crocodile meat? Tom Fox has ...
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Blog
Was the GlaxoSmithKline FCPA resolution a missed opportunity?
Tom Fox questions whether U.S. regulators missed a chance to illustrate how they would give credit for anti-corruption prosecutions done by other governments in the case of GlaxoSmithKline’s China subsidiary’s recent FCPA resolution.
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Harris declinations: A landmark FCPA case?
The SEC will not take action against Harris Corp. for FCPA violations, but has brought charges against a former Harris executive for bribing Chinese government officials to obtain business. Jaclyn Jaeger explores.
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Blog
Compliance fail: Chinese bank employees publicly spanked for poor performance
A disturbing video of a Chinese bank's effort to improve employee performance -- through public, violent spankings of employees -- was posted yesterday. The video, which will make even the most hardened U.S. compliance officer cringe, shows a line of employees from Changzhi Rural Commercial Bank being subjected to an ...
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Blog
SEC approves PCAOB budget; Doty promises new proposals soon
Image: With majority support from the SEC—all two of them, that is—the PCAOB has finalized its 2016 budget with a 12-percent increase in fees charged to public companies to support it. Only SEC Chair Mary Jo White and Commissioner Kara Stein supported the PCAOB’s $257.7 million budget for the current ...
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PCAOB Sanctions China-Based Firm for Stalling Investigation
With its negotiations over regulatory access to China stalled, the PCAOB has settled a disciplinary order against Hong Kong audit firm PKF HK and three employees accused of failing to cooperate with an investigation. The board has revoked the registration of the company and censured the firm, contending that PKF ...
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Blog
Checking Up on GSK in China
When thinking through an FCPA risk assessment, one thing usually not considered adequately is a company’s sales culture. To see the consequences of that, one need look no further than GSK’s corruption troubles in China—but, CW blogger Tom Fox writes, the reforms GSK has implemented with its sales force are ...
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Blog
Chinese Open New Front in Anti-Corruption Investigations
The Chinese fight against bribery and corruption took an interesting twist earlier this month, when it was announced that the former head of the national oil company, Sinopec, was being investigated for bribery and corruption in the securing of contracts in Angola. If this investigation continues it could open a ...
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Blog
New U.S.-China Corruption Cooperation Initiative
Image: An interesting development reported this week: The United States and China have agreed to cooperate on the seizure of assets obtained through corruption and on the deportations of Chinese nationals from the United States who engaged in bribery and corruption in China and later fled to America for sanctuary. ...
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Blog
Behind China’s Regulatory Disarray
Image: More informed people than me can, and have, painted crisp pictures of the regulatory chaos currently unfolding in China. The latest is an excellent article in the Wall Street Journal today, “China’s Response to Stock Rout Exposes Disarray,” that is well worth your time if you do business there.
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Article
Far East: The Epicenter of FCPA Enforcement?
Image: Everyone says bribery risk is highest along the Pacific Rim, but how acute is the problem really? Pretty bad, according to a Compliance Week review of recent FCPA enforcement actions—and the risks will only increase as more U.S. companies enter Asia and more Asian companies tap U.S. capital markets. ...
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