In this cover story by Asian-Mena Counsel,* four Baker McKenzie lawyers and two thought-leading GCs talk about key issues in sanctions and investigations.
Mini vandePol (Hong Kong), head of Baker McKenzie's Asia Pacific Compliance & Investigations Group; dispute resolution and compliance and investigations lawyer Celeste Ang (Singapore); Simon Hui, leading lawyer for dispute resolution/regulatory and compliance in China; and Vivian Wu, who focuses on China-related corporate regulatory and compliance matters answer the following:
- Can you suggest an ideal process which in-house legal departments can implement to detect legal liabilities? What key points should organizations bear in mind when mapping out a process?
- What are your suggestions for in-house counsel on crisis management?
- What are some of the potential compliance roadblocks for corporations?
- For corporations working on cross-border transactions, which jurisdictions should the legal department consider high risk for sanctions and political environment.
- Sanctions lists are ever-evolving and becoming more complex. How can in-house legal departments stay on top of these changes and proactively manage risks?
- What are some key licensing considerations in the context of compliance to sanctions?
- How do US and EU sanctions on China affect international entities doing business there?
Introducing Baker McKenzie's Compliance Cockpit
Similar to pilots, general counsels have to have a clear overview and be aware of risks in the entities, countries or regions they are responsible for to enable them to steer the company into the right direction. This can be achieved with Baker McKenzie's Compliance Cockpit, which has been recognized by the Financial Times as a standout product that combines compliance expertise and technology. Click here to learn more about this valuable resource.
*This article first appeared in the Asian-Mena Counsel Magazine October 2020 edition.