All China articles – Page 4
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Preparing for China’s new GDPR-like data privacy law
China is set to enact a tough data privacy law that mirrors the EU’s General Data Protection Regulation in content but likely will be more strictly enforced, experts say.
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Pactiv Evergreen nearing clearance from SEC in FCPA probe
Pactiv Evergreen said it has received indication from the SEC it will not face enforcement following an internal investigation launched last year into potential violations of the Foreign Corrupt Practices Act.
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Hong Kong regulator fines UBS $1.5M for compliance failings
Hong Kong’s securities regulator fined Swiss bank UBS and a subsidiary a total of HK$11.55 million (U.S. $1.5 million) for various compliance failures.
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SEC seeks more risk disclosures from China-based companies
The SEC will require China-based public companies listed on U.S. exchanges to make more disclosures about the financial risks posed by potential interference in their operations by the Chinese government.
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DOJ closes FCPA investigation into Pactiv Evergreen
Pactiv Evergreen said it will not face an enforcement action by the Department of Justice, following an internal investigation launched last year into potential violations of the Foreign Corrupt Practices Act.
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China, Russia to face more sanctions under Biden, experts say
Companies should prepare for more U.S. sanctions to be levied against China and Russia under the Biden administration, two former financial crime regulators predicted at Compliance Week’s Financial Crimes virtual event.
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SEC seeking comment on new foreign audit oversight rules
The SEC is seeking comment on new submission and disclosure rules related to foreign public companies that are not allowing U.S.-based auditors to review their financial statements.
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OFAC Director Andrea Gacki dishes advice on mitigating sanctions risk
OFAC Director Andrea Gacki shares insights about her organization’s latest sanctions enforcement priorities, its expectations of sanctions compliance programs, and how to mitigate sanctions risk.
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Cisco Systems investigating ‘self-enrichment scheme’
Technology conglomerate Cisco Systems said in a regulatory filing it is investigating allegations of a “self-enrichment scheme” involving former employees in China and potentially Foreign Corrupt Practices Act violations.
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Anti-corruption developments in 2020: China, India make strides
A global panel of experts with law firm Gibson Dunn share insights around recent anti-corruption developments in some of the world’s largest regions, including China, India, Latin America, and Africa.
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Parting gift: New Trump sanctions against China complex for compliance
A November executive order by former President Donald Trump banning U.S. investment in companies with ties to the Chinese military has proven difficult for compliance officers to navigate after taking effect earlier this month.
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SEC, China react as Trump approves foreign audit oversight bill
President Donald Trump signed into law a measure that will kick publicly traded Chinese companies off U.S.-based exchanges if they refuse to allow U.S. regulators to examine their finances.
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Luckin Coffee to pay $180M for accounting fraud
China-based Luckin Coffee has agreed to a $180 million penalty as part of a settlement with the U.S. Securities and Exchange Commission to resolve charges related to the coffee chain’s inflated-sales scandal.
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Premium
Top ethics and compliance failures of 2020
From a massive accounting fraud scandal in Germany to deceitful consumer tactics among China-based companies to unethical practices on the environmental front in the United States—CW’s list of the top ethics and compliance failures of 2020 spans the globe.
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Congress passes bill forcing Chinese companies to comply with U.S. audit rules
In a bipartisan and unanimous vote, the House passed a bill Wednesday that could kick publicly traded Chinese-based companies off U.S. exchanges.
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Biden will tread carefully on sanctions, seek international consensus, experts say
Experts believe President-elect Joe Biden will likely take his time before making big moves to unwind the dizzying array of sanctions levied by his predecessor, President Donald Trump.
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2020 TRACE Bribery Matrix: U.S. falls from top 20; China on the rise
TRACE International’s 2020 Bribery Risk Matrix has the United States trending downward in multiple areas of business-related bribery risk.
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Cryptocurrency’s future: What compliance needs to know
Cryptocurrency is complicated, but it’s not going away anytime soon. David Povey of the ICA takes a look at what regulators are trying to do and offers tips on where compliance officers can go to study this complex topic further.
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Pfizer facing FCPA probes into China operations
Pharmaceutical firm Pfizer announced in a recent regulatory filing that it has received requests from the Department of Justice and the Securities and Exchange Commission regarding the company’s operations in China.
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Chinese regulator fines Luckin Coffee, affiliated groups $9M
China’s market competition regulator announced a fine of 61 million yuan (U.S. $9 million) against Luckin Coffee and a group of affiliated firms in response to the coffee chain’s inflated sales scandal.