Fangda Partners has established a compliance and regulatory practice group co-headed by Michael Han and Kate Yin.
“Despite the fact that some clients have set up independent compliance departments, diversified talents are still needed to meet their needs,” Han told China Business Law Journal. “Those lawyers should be not only legal experts, but also equipped with skills such as in-depth investigation, and a deep understanding of clients’ business.”
Han said the compliance team would be responsible for areas with significant risk, like antitrust, anti-corruption, data, sanctions, and export controls. Fangda established the compliance team with 15 partners and 41 associates from the firm’s antitrust, compliance and dispute resolution practices.
Han has expertise in merger control, anti-monopoly and investigation, while Yin mainly focuses on government investigation and corporate compliance.
After the US sanctions against ZTE in 2018, the State Council’s State-owned Assets Supervision and Administration Commission issued the Guidelines for the Compliance Management of Central State-owned Enterprises (for Trial Implementation), while the National Development and Reform Commission and seven ministries jointly issued the Guidelines for Compliance Management in the Overseas Operations of Enterprises.
As a result, the concept of corporate compliance has grown in prominence. Not only have state-owned enterprises carried out compliance construction, but large-sized private enterprises have also started building compliance systems, and some basic procuratorial organs have followed suit.