Corporate Compliance

   

Corporate Compliance

TCCL’s Corporate Compliance Group strives to ensure that each company we assist is in good regulatory standing both at home and abroad. Foreign-owned companies in Asia are obligated to comply with complex corporate, securities, tax, anti-corruption, anti-bribery and other laws and regulations that international business owners are often unfamiliar with. In addition, personal liability for actions taken by a company in Asia may be regarded differently than in other Western countries, which also makes corporate compliance a particularly important consideration for our clients.

Compliance laws and regulations are constantly changing in Asia and many countries around the world have stepped up their enforcement of anti-corruption and anti-bribery laws during recent years. The governments of Asian countries such as China, Thailand and Cambodia; where bribery has been prevalent for many years, have launched widespread campaigns to crackdown on corruption. For example, China’s major administrative agencies, including its industry and commerce, public security bureau, customs, securities regulatory commission, food and drug administration, as well as its judicial authorities have accelerated their pursuit of enforcing anti-corruption and anti-bribery laws. During recent years, officials from almost every province in China have either been prosecuted or are under investigation. To provide another example, the Cambodian government passed an anti-corruption law in March 2010 and several cases of bribery, extortion and fraud have been persecuted under the new law. Government authorities have not only enlarged the scope and increased the number of official investigations, they have also strengthened the resulting penalties.

To protect our clients from incurring civil and criminal penalties or being personally liable for actions taken by their businesses, it is important for our clients to understand and abide with compliance and other laws in the Asian countries in which they invest. At the same time, since the activities of a foreign company in Asia may also trigger the regulatory scope of North American and UK anti-corruption legislation, foreign-owned businesses that are operating in countries where corruption is widespread should also ensure that the requirements of the laws in their home country are fulfilled. Our North American and England qualified lawyers understand the complex corporate compliance, anti-corruption and anti-bribery laws that may impact a foreign-owned business in Asia and are experienced with helping our clients develop appropriate compliance policies and systems to ensure they are in good regulatory standing both at home and abroad.

TCCL offers a comprehensive range of compliance-related services including the following:

  • Building anti-corruption and anti-bribery policies, systems and safeguard mechanisms for foreign-owned companies that are operating businesses in Asia
  • Helping public companies ensure that they are complying with applicable regulatory reporting and disclosure requirements and restrictions
  • Training Asian-based company managers to familiarize with and build compliance systems to meet the requirements of anti-corruption and anti-bribery laws in Asia
  • Advising on the main categories of legal liability that executives bear under Asian laws, possible consequences of being found personally liable, corporate actions/omissions most likely to land executives in trouble and how to pro-actively manage the risks of personal liability
  • Advising on the regulatory scope of US Foreign Corrupt Practices Act, the Canadian Corruption of Foreign Public Officials Act and the UK Bribery Act
  • Anti-bribery and anti-corruption due diligence services before, during and after acquisitions
  • Due diligence investigations on business partners, customers and counterparties to a contract, their shareholders and management teams
  • Compliance advice regarding transaction structuring
  • Assisting clients who are facing investigations
  • Mediation, arbitration, settlements and representation in court
  • Criminal background checks and fraud and money laundering investigations