Lexis Insights

LexisNexis Corporate Exclusive Roundtable:

One Year Later on 2021 Global Enforcement and Compliance Updates

25 November 2021 | by LexisNexis Hong Kong

Our distinguished speaker, Mr. Geoffrey Atkins, Partner of Ropes & Gray had shared his expertise about compliance, international risks & global enforcement matters in the wake of the COVID-19 pandemic at the LexisNexis Corporate Exclusive Roundtable: One Year Later on 2021 Global Enforcement and Compliance Updates event on Tuesday, 2 November 2021.

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.

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