In the context of China’s reform & opening-up and globalization, an increasing number of foreign companies have been engaged in business activities in China, and meanwhile more and more Chinese companies have conducted business overseas. For foreign companies doing business in China and Chinese enterprises doing business overseas, they not only have to abide by Chinese laws but also have to comply with foreign laws.
In recent years, the enforcement activities by U.S. regulatory agencies in accordance with US Foreign Corrupt Practices Act (FCPA) have attracted great public attention. Avon、Bristol-Myers Squibb、Mead Johnson Nutrition、GlaxoSmithKline、Eli Lilly and other International famous enterprises have been heavily fined or investigated by the U.S. Securities and Exchange Commission (“SEC”), and the fine imposed on Avon by U.S. SEC has been as high as $135 million. The legal services under FCPA have been a hot topic in international legal practices, and also squarely fit with the anti-corruption initiatives by our government.
We hope that the FCPA event can not only improve the understanding of FCPA by local lawyers specialized in handling foreign-related legal matters, but also help them to provide a more comprehensive legal services for their clients.