By Liu Xiangwen, Monique Carrroll, Yang Jianyuan and Zhu Yuanyuan

The ‘why’

Due to the sensitivity of commercial bribery, corporations can be reluctant to instigate internal anti-commercial bribery investigations as a check on the effectiveness of their compliance program. Often an internal investigation will only be commenced when a serious problem emerges in the internal management system, a judicial or governmental investigation is initiated or a complaint is received accusing the corporation of serious compliance issues. However, given the increasing global focus on anti-bribery and corruption compliance, the value of regular internal compliance investigations or ‘audits’ has increased. The objective of a compliance audit is to identify and deal with any problems or risk areas before they are obvious to third parties and escalate to the media’s attention. Where the audit uncovers a serious problem that must be reported to regulators, the company will be in a much better position to pro-actively manage the situation – hopefully with the result of minimizing any penalties imposed on the company.

Over the medium to long term, regular compliance audits will strengthen the compliance and risk awareness of both the company and its employees and therefore contribute to an enterprise culture of compliance. Such a culture would in turn contribute to the long-term and sustainable development of the company.
Continue Reading Internal Compliance Audits – the Why and How?

By Zhang Dongcheng and Li Shi King & Wood Mallesons’ Security Group

On June 28, 2013, the China Securities Regulatory Commission (CSRC) convened a press conference to promulgate the new amendments to the Administration of the Client Asset Management Business of Securities Companies Measures (“Administrative Measures”) and the Implementing Regulations of the Aggregate Asset Management Business of Securities Companies (“Implementing Regulations”). In order to implement the Law of Securities Investment Funds of the People’s Republic of China (2012 Amendment), which already formally went into effect on June 1, 2013, the revision of Administrative Measures and Implementing Regulations, mainly revolves around the regulations of “Large Aggregate” and “Small Aggregate”. Through new legislation, we can read CSRC’s attitude and path selection on the reform direction of the asset management business.
Continue Reading Client Asset Management Business Will Realize Effective Unified Regulation

By Miao Jing  King & Wood Mallesons’ Energy, Resources and Projects Group

The National Energy Administration (“NEA”) issued the Shale Gas Industry Policy (“Policy”) on October 22, 2013, which was made public on October 30, 2013. The Policy recommends certain reforms to encourage shale gas development in China. The key points are set out below.
Continue Reading NEA calls for reforms to encourage shale gas development

作者:熊进 赵汝彬 孙蕊 林云竹 金杜律师事务所公司并购

中国商务部的统计数据显示,在即将结束的2013年中,中国海外投资继续保持高速增长的势头。其中,能源资源类投资继续占据较大比例。 2012年,中国对外直接投资878亿美元,首次成为世界三大对外投资国之一。其中采矿业对外直接投资135.4亿美元,与能源资源相关的“电力、热力、燃气及水的生产和供应业”超过10亿美元。[1]

岁末年终,本文将从地域(和代表性国家)的角度,对中国企业对海外能源和资源行业的投资趋势进行总结,分析相关趋势的成因,并对中国企业境外投资的主要问题和风险进行提示。
Continue Reading 2013:中国对外投资趋势概述 — 能源与资源并购交易

We once again remind the readers that copyright of all articles published on this blog are the intellectual property rights of King & Wood Mallesons, any copying and duplication without written consent of KWM is an infringement of our copyright. We noticed that some particular entities have been continuously using substantial amount of our articles

我们注意到有个别营利性机构和单位在未表明来源和作者的情况下大量使用金杜博客文章(“Chinalawinshgt.com”)内容。我们再次声明全部博客内容为金杜版权所有,我们对未经允许使用他人作品行为保留追诉权利。

作者:田文静 杨理 金杜律师事务所公司并购

为改善俄罗斯的投资环境,1999年颁布的《俄罗斯联邦外国投资法》[1]为外国投资者在俄罗斯实体经济部门进行投资活动的权利提供了基本保障,包括保障财产不被国有化征用,被国有化或征收时给予赔偿;保障不因俄罗斯联邦法律变更而受到不利影响;保障外国投资者依法使用其外汇收入、利润及其他合法所得款项等等。但是,在鼓励和吸引外国直接投资的同时,为了保护国家利益和保障国家安全,俄罗斯政府也制定了不少限制措施,如《俄罗斯保护竞争法》[2]对外商投资俄罗斯的交易和其他行为规定的反垄断许可制度,以及本文主要介绍的《俄联邦关于外资进入对保障国防和国家安全具有战略意义的公司的程序法》(以下简称“《限制外资程序法》”)中的相关制度。
Continue Reading 《俄罗斯限制外资程序法》介绍

作者:姜俊禄  金杜律师事务所劳动

在一个并购项目中,就同一法律问题而言,劳动法和普通商法的视角、出发点具有很大区别。劳动法关注的对象不是资产、厂房、设备等,而是有血有肉的人。人拥有自我思考能力,能够对于外界信息进行认知并反馈,并且处于不同位置的当事方,在交易中存在着不同的利益关系,因此,他对于交易本身会产生的反响可大可小。这种反响可能是一句牢骚,也可能是罢工行为。

根据统计数据,在中国的广东省,一年中发生的罢工次数大概在80起左右,在大连经济技术开发区,一年中发生罢工次数也达到70余起。通过观察我们发现,这些罢工行为的背后往往隐藏着是不全面的并购交易,那么在并购项目中,如何避免重大劳动问题的发生,我们试做分析探讨。
Continue Reading 公司组初级律师培训系列(5)—并购中的员工安置与费用安排