Lexis Insights

Amidst COVID-19, there are various compliance risks. For instance, risks that may arise during the pandemic include:

1. corruption risks;
2. insider trading;
3. financial reporting;
4. risks created by relief expenditures; and
5. risk that actions will be judged in hindsight.

Accordingly, there are preventive and remedial measures to follow for ensuring compliance. In particular,

1. conduct risk assessment compliance programs;
2. review and update compliance policies and procedures;
3. conduct risk-based training to staffs;
4. implement confidential reporting and effective investigation measures; and
5. conduct effective due diligence process in a M&A process.

Under President Joe Biden’s administration, he supports and expands on Donald Trump’s enforcement efforts for global anti-corruption. The Department of Justice established a Corporate Crime Advisory Group and revised the Corporate Criminal Enforcement Policies to fight corporate crime.

Finally, Mr. Atkins shared with the attendees the recent developments and enforcement actions/practices (such as the implementation of a new legislation, amendment of an existing legislation and establishment of a new Government agency) in the APAC region to combat corruption.