Michael Volkov (JD Supra China)
-
China’s Digital Yuan: What to Know About the First Major Central Bank Digital Currency
With the rise of digital currencies, it was inevitably going to attract the attention of governments. Not just in the regulatory sense, but also in terms of utilization. The blockchain technology underlying these virtual assets provide certain advantages over traditional paper money, some of which are rather significant.
-
The Criminal Pursuit of Huawei China: DOJ Brings Two Indictments
The Department of Justice has launched two separate criminal cases against Huawei China, the controversial Chinese telecommunications equipment provider.
-
Dun and Bradstreet Pays $9 Million for FCPA Violations in China
After a lengthy investigation, Dun and Bradstreet (D&B) settled an FCPA enforcement action with the Securities and Exchange Commission for $9 million.
-
Doing Business in China Should Be “Scary”
Lauren Connell, Managing Associate at The Volkov Law Group, joins us again for another posting on corruption risks in China. A little fear is healthy. It will keep you vigilant and aware. At this point if corporate compliance departments are not a little fearful of doing business in China then their managers and employees are not doing their jobs.
-
Drug and Medical Device Corruption Risks in China
Medical device and pharmaceutical companies know the risks of conducting business in China. Company after company has had to settle FCPA enforcement actions in China. Many of these enforcement actions include fact patterns that pretty consistent.
-
US and China Expand Law Enforcement Cooperation
Global anti-corruption efforts continue to increase. For global companies, this trend makes compliance even more critical. One of the most significant aspects of this trend is the US government’s cooperation with China. The United States does not have an extradition agreement or a law enforcement cooperation treaty with China.
-
China and Antitrust Enforcement
China’s entry into the anti-corruption enforcement arena has received lots of press attention. Just as significant as this development, China has added international cartel enforcement to its list of priorities.
-
GSK China: Did Case Finish with a Bang or a Whimper?
In typical Chinese fashion, the prosecution of GSK and several GSK executives ended after a one-day “trial.” GSK paid a $489 million fine; and four criminal sentences were handed out with suspension of jail time and orders of deportation. GSK also issued an apology.
-
China’s Aggressive Enforcement Of Domestic Corruption Laws
Last year, when Chinese officials launched a broad prosecution of GSK and other drug companies for bribery, multinational companies shivered in fear. Company officials were worried that they could fall under Chinese law enforcement scrutiny.
-
The CFIUS Review Process And Foreign Investments
Washington is a town that is filled with secrets – some interesting and others not so interesting. I grew up and have practiced law in Washington, DC. all of my career.
-
All In The Family: Enforcement Focus On Hiring Of Relatives Of Foreign Officials
Can you imagine being the public relations director for China these days?
-
China And Compliance Solutions: Choking Off The Money Supply
Compliance is hard enough even when the issues are simplified, the tasks are defined, and the strategies are straightforward.
-
The Real Implications Of The Glaxo Enforcement Action In China
The headlines get worse and worse. More companies under investigation.
-
Pharmaceutical And Medical Device Companies: Taking It On The Chin (Part II Of III)
As the Glaxo controversy unravels each day, it is important to remember the enforcement context in which the current prosecution in China is occurring.
-
Bad News For The Drug And Device Industries: Glaxo’s Systemic Breakdown In China (Part I Of III)
Mark Twain, one of my favorite authors, always said it best – “Do the right thing. It will gratify some people and astonish the rest.” - For drug and device companies, Mark Twain’s observation is becoming the industry standard.
-
Navigating Corruption Risks in China
The FCPA paparazzi like to wring its hands over anti-corruption compliance in China. Some of the wringing makes sense; some does not. No company should avoid entering or expanding into China because of corruption risks. Any company which decides not to enter China for that reason has a limited perspective. China is a corruption compliance challenge. You must enter China with a full plate
-
FCPA Compliance in China: An Oxymoron?
If your company does business in China, you need to conduct an anti-corruption audit. No ifs, ands or buts — and I am not one who would easily make this recommendation. But the picture in China is growing worse by the day. If you follow the mounting number of disclosures, the pattern is unmistakable. Companies that operate in China are reporting more and more FCPA compliance concerns. ...