Aug 02, 2022
In Welcome to the Forum
2018 is the first year of compliance for Chinese enterprises. The State-owned Assets Supervision and Administration Commission of the State Council issued the "Guidelines for the Compliance Management of Central Enterprises (for Trial Implementation)", and in October 2021, the State-owned Assets Supervision and Administration Commission of the Buy email list State Council issued the "Opinions on Further Deepening the Construction of Central Enterprises under the Rule of Law". In December 2021, the State-owned Assets Supervision and Administration Commission of the State Council will hold a work deployment meeting for the "Year of Strengthening Compliance Management" for central enterprises, striving to push corporate compliance management to a new level within one year. 1. Why companies attach so much importance to compliance Mainly for the following reasons: Ask for a lot . Laws and regulations continue to expand the field of compliance monitoring, from the US Federal Sentencing Guidelines in 1990 to today's anti-corruption, anti-monopoly, anti-money laundering, anti-unfair competition, intellectual property, security protection, data protection and many other fields; very fine . Law enforcement at home and abroad continues to increase. For example, Facebook was fined 225 million euros for violating GDPR, Google was fined 1.49 billion euros for unfair competition, domestic Alibaba was fined 18.228 billion yuan for monopoly, and Meituan was fined 3.442 billion yuan for monopoly RMB, etc.; There are benefits . Adapt to market competition and win the trust of investors’ favored partners, and the Supreme People’s Procuratorate, the Ministry of Justice, the Ministry of Finance and other notices on printing and distributing the “Guiding Opinions on Establishing a Third-Party Supervision and Evaluation Mechanism for the Compliance of Enterprises Involved (Trial)” are advancing in accordance with the law. In the pilot work of corporate compliance reform, establish and improve a third-party compliance monitoring and evaluation mechanism for the companies involved in the case.