China's Plan For State-Owned Enterprises Impacts FCPA Risk
Law360, New York (March 31, 2015, 4:55 PM EDT) -- China's recently announced plan to restructure and consolidate its state-owned enterprises focuses on bolstering the private sector of its economy and creating economies of scale to allow Chinese companies to better compete internationally. It also may implicate companies' efforts to comply with the U.S. Foreign Corrupt Practices Act, in positive and negative ways.
Although the details of the restructuring plan are still unknown, the prospect of any change to China's vast SOE network raises potentially significant considerations for legal and compliance officials dealing with the definition of "foreign official" under the FCPA. Companies operating in China need to watch this space, as...
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