Linworld's 4th Asia Anti-Corruption Compliance Summit 2019
December 2-3 2019 witnessed the success of Linworld’s 4
th Asia Anti-Corruption Compliance Summit 2019 in Marriott Tang Plaza Hotel, Singapore. Over 130 participants and 36 speakers from government officials, famous associations, leading companies and organizations such as DOJ, MACC, SFO, World Bank, Trace International, International Compliance Association, Siemens,GE,Standard Chartered, Intel, Big Four ect.,discussed the latest developments, challenges and cases regarding the anti-corruption and compliance field. Over 95% of attendees provided positive feedback to this event and expected to attend next one. Meanwhile,numerous full pages of notes made by delegates during the summit was the best affirmation to us.
Two senior partners from Morgan, Lewis & Bockius co-chaired the conference and delivered the opening remark. During the remark, they pointed that the increasingly complicated compliance environment was pushing the enterprises to establish the spotless compliance systems. Meanwhile, the application of new technologies was also pressing owing to constantly arising new challenges.
01 Status of Global Anti-Corruption Policy Updates and Enforcement
FCPA was widely recognized as the most influential ABC law worldwide. Partner of Vinson & Elkins LLP, former Assistant Chief of DOJ, delivered a speech entitled “
Recent Trends and Investigations in FCPA Enforcement.” The speech not only went deeply into the policy updates and future trends, but also told audience how to enforce your compliance framework under DOJ and SEC supervision.
Besides FCPA, UKBA is another highly focus law. The speech
“Deep into UKBA and other European Anti-Corruption Laws” was made by former Head of the Fraud Division at the Serious Fraud Office, Partner of Latham & Watkins. His presentation impressed audiences with his detailed explanation with rich case studies with the following content: 1, The UK Bribery Act 2010. 2, UK Deferred Prosecution Agreements. 3, Recent Developments in UK Anti-Corruption Law. 4, Recent Developments in European Anti-Corruption Law.
Many delegates told us, doing business in APAC was not a easy job owing to the different judicial systems.
“A Guide to Anti-Corruption Legislation in Asia Pacific” delivered by Partner of Steptoe & Johnson LLP, provided audiences the valuable insights into the above-mentioned concern. He introduced similarities and differences among APAC judicial systems in 8 aspects: 1, Extraterritoriality 2,Bribery of “Foreign” Public Officials 3, Private Sector Bribery 4, Indirect Bribery 5, Gifts, Entertainment & Hospitality 6, Facilitation Payments 7, Defense for Adequate Compliance 8, Self-Disclosure .
“Corporate Liability (Section 17A MACC Act 2018)” had aroused extensive attention among our participants. Deputy Director of Malaysian Anti-Corruption Commission (MACC) turned this topic to a passionate speech in three parts: 1, Malaysian Anti-Corruption Commission (Amendment) Bill 2018 2, The Jurisdiction of MACC under the MACC and the Penal Code (PC) during the Investigation Bribery Offenses 3, Trends and Expectations Post-1MDB.
The last policy-related topic was a panel discussion “
How to Manage the Expected and Unexpected Impact of GDPR, Data Privacy, Cyber Security and Internal Investigations.” Steptoe’s partner moderated this panel, other panelists from Intel, Amazon, CHF Solutions. One Real-life case, three scenarios (Data Collection, Data Export and Processing, Data Production) helped the audiences fully understood the impact of GDPR, Data Privacy and Cyber Security and how to tackle with it.
02.Establish the Spotless ABC Systems in APAC Area
A robust compliance framework was fundamental in building spotless ABC systems in APAC. Regional Head of Compliance & Data Protection, Asia Pacific of Allianz gave us a speech entitled “
Developing An Anti-Corruption Compliance Program in APAC” in three portions: 1, Localizing Global Compliance Program and Structure to Meet Fast-Evolving Local Regulations in APAC Countries 2, How to Effectively Communicate with Local Compliance Officers on Daily Basis 3, Creating An Ethics Programme that Is Integrated into the Corporate Daily Operations and Long-Term Strategic Decisions.
Without effective Whistle-blower Mechanism and internal investigations, the compliance systems shall be the castles in the air. The topic
“Building an Effective Whistle-blower Mechanism and Internal investigations” was discussed by Chief Compliance Officer, Asia Region of GE. She brought the following questions to audiences: What were hallmarks of a good open reporting program? What is a good investigation? How to determine corrective action? All the audience got involved in the brainstorming.
Besides the GE experiences, “
Third Party Due Diligence: Best Practice in Preventing Bribery” made by Vice President Ethics & Compliance of Nokia was absolutely a good lesson to learn. The Nokia's Third Party Program consisted of the following threes portions: 1, Compliance Support to Nokia's Third Party Program 2, Commercial Third Party Screening 3, Commercial third party risk management life-cycle.
Another topic involved the whole audience was a panel
“Culture of Compliance Journey” moderated by Partner of Wong & Partners, panelists from Avon, Avanos Medical, Diageo. They together with all delegates shared the expediences in the following: 1, The Best Compliance Culture: Mandatory or Persuasive? 2, Key Elements in Fostering a Culture of Compliance. 3, Setting the Tone at the Top and Middle 4, Implementing an Effective Communications Strategy Practical Insights: How Culture Impacts Compliance?
The last topic in this part, under the moderation of Associate Partner of EY was themed as Panel Discussion:
“How Bribery Schemes are Getting More Sophisticated and How to Detect Them.” Panelist from Medtronic, Allen & Gledhill, Morgan, Lewis & Bockius, all gave a practical insight into how to cope with new challenges such as Global Trade Tensions, Data Security, Anti-Bribery, Antitrust, Global Sanctions Programme and how to integrated these challenges into your current compliance systems.
03 Problem-Solving Advice and Personal Experience from Leading Compliance Professionals
EY’s partner also made a wonderful presentation entitled “
Challenges While Performing Compliance Reviews in APAC and How to Overcome Them.” He proposed the following questions 1, Asia-Pacific Are you seeing the big picture without seeing what lies beneath? 2, Standards and business case: Do you define your compliance role or does the role define you? 3, Measuring integrity can performance be evaluated in absence of measurable indicators? And he also provided EY research-based methodology to help the audience to tackle the above-mentioned issues.
The second topic of this part was from Business Development Manager of Trace International, “
Measuring the Effectiveness of your Compliance Program.” her speech consisted of: 1, Why Auditing & Monitoring Are Critical To An Effective Compliance Program? 2, What is Auditing & Monitoring: Definitions and Best Practice Examples? 3, Framework for measuring effectiveness.
The third speaker in this part, “
ISO 37001 The Global Anti-Bribery Standard APAC Context” brought by Regional Commercial Director, APAC of BSI. He put forward some thoughts from another point of view: 1, Corruption and bribery challenges 2, How standards help 3, ISO 37001 and Organizational Resilience.
Another topic of this part is also a panel “
Anti Money Laundering, Another Headache.” Course Director of International Compliance Association acted as moderator, together with panelists from Scotiabank, Gunvor Group, DFDL. They discussed 1, How to take a more proactive approach to screening clients, transactions and activities? 2, How do firms mitigate the risk of money laundering in more obscure jurisdictions / small firms? 3, As money laundering and terrorism financing continues to evolve , how are policies, procedures mitigating factors evolving? 4, Apart from training, policies and procedures, how do you ensure your employees are made aware of red flags?
04 Innovative Technology to Better Your Compliance Program and Mitigate Third Party Risks
The rapid development of technology brought both opportunities and challenges. Compliance Director of Standard Chartered, delivered a speech went deeply into
“Latest Technology Helping Us to Fight Corruption”. He pointed out clearly: Challenges: 1, The Dark Web and Crypto currencies 2, Big Data 3, Compliance costs. Opportunities: Digital processing technologies–machine learning (AI) and the Block-chain. To provide a full angle viewpoint, he gave a real case study and involved audience in further discussion.
GSK, a science-led global healthcare company, got the vision to deliver a transformative approach to the creation, storage and use of trusted data that drives actionable insights and risk-based decisions. Ethics & Compliance Officer of GSK shared
“Managing Risks Through Data Analytics”, revealing GSK pilgrimage to digital transformation in its compliance management systems with KRI Lifecycle and summarizing key take-aways (keys to success).
Third Party Risk Management was always a topic of great concern.
“Fraud Risks in Malaysia/South East Asia and the Importance of Using Intelligence to Mitigate Third Party Risks.” was discussed hotly, under the discussion of KPMG, Siemens, Hillrom as well as Bruker, they brought many successful cases to audiences, thus all audiences get involved in the discussion and learnt a lot.
Linworld’s Anti-Corruption Compliance series summits is one of the most influential Anti-Corruption Compliance forums in Asia-Pacific. Linworld Group will continue to make efforts to provide platform to those who are interested in learning more about the developments of anti-corruption compliance trends globally.
In the first half year of 2021, we will have following upcoming ACC series events:
5th China International Anti-Corruption Compliance Summit 2021, July 8-9, 2021. Beijing, China
6th Asia Anti-Corruption Compliance Summit 2021, June 17-18, 2021. Shanghai, China
Please contact us for more details:
Helen Su
Tel. +86 (0)27 8788 7590
Email:
Helen.Su@linworld-group.com
