Beyond COVID-19: Crisis response or road to recovery?
Crisis response or road to recovery?
Welcome to Issue 14 of our Business ethics and anti-corruption Asia Pacific Insights!
This year 2018 started with a significant announcement by the Singapore Law Minister that the authorities will be considering the introduction of deferred prosecution agreements in Singapore. While it is a development that has drawn both support and scepticism, it will clearly align Singapore more closely with mature enforcement jurisdictions like the US and UK. There will also be profound implications for businesses in Singapore – not least for issues like corporate criminal liability, the extraterritoriality of the Prevention of Corruption Act, the compliance defence and senior personnel liability. In our first article on “Justice delayed or justice denied”, Paul Sumilas, Jeremy Lua and I survey various jurisdictions and compare their approaches to deferred prosecution agreements.
In a similar vein, China promulgated its new Anti-Unfair Competition Law which came into effect at the beginning of the year. Sun Hong focuses on the provisions with regard to bribery in commercial transactions and examines the impact of the new law.
From across the ocean, my US colleagues analyse various aspects of the FCPA Corporate Enforcement Policy that was launched late last year and compare it to the preceding FCPA Pilot Program. Among other matters, Kevin Harnisch, Keith Rosen and Daniel Kacinski consider the incentives and consequences of voluntary self-disclosure and cooperation with the US authorities.
Finally, we are delighted to profile our new Hong Kong-based partner Etelka Bogardi – subjecting her to some pointed questions regarding her former role as regulator, why she decided to join us at Norton Rose Fulbright and the expectations of clients. Great to have you on board, Etelka!
In closing, I would like to thank everyone for your support over all these years, without which we would not be enjoying the success of our practice. I am delighted that we achieved Band 1 status with Chambers & Partners for the inaugural Corporate Investigations/Anti-Corruption 2018 category in Singapore; and were named in Who’s Who Legal: Investigations Lawyers 2018. Legal 500 Asia Pacific continues to rank us Tier 1 for our Financial Services Regulatory practice in Singapore for the second year running in 2018. Our team in Australia likewise received affirmation by Chambers & Partners for Anti-Bribery and Corruption, and Legal 500 for Regulatory Compliance and Investigations. Abigail McGregor, in particular, was “recommended for her work in anti-bribery, corruption and business ethics”. Such broad market recognition would not have been possible without the support of our clients – many thanks!
Businesses operating in the food and agribusiness sector need access to the latest changes and developments from a legal team who have extensive experience focusing on the whole of the food and agribusiness value chain, advising clients worldwide on all aspects of their operations, including domestic and foreign investment acquisitions, initial public offerings, joint ventures, scientific cooperation agreements, international trade, land matters and technology licensing.