• Chile: Publication of Law No. 21.592, which establishes a whistleblower protection statute

    The law conceives access to protection as a right of any whistleblower who reports irregularities within organisations and guarantees their personal integrity and that of their property, as well as the preservation of their living and working conditions, which could be threatened as a result of their whistleblowing or their participation in the respective investigations.
  • Directive on corporate sustainability reporting is published

    The new EU legislation requires companies to report regularly on the effect of their activities on people and the environment.
  • China to amend its Anti-Money Laundering Law

    In June of 2021, the People’s Bank of China (PBOC, China’s central bank and major financial regulator) published the draft version of amended Anti-Money Laundering Law (Amended AML Law) seeking for public opinion[1]. Amended AML Law contains major changes to improve the effectiveness of its legal framework to combat money laundering and terrorist financing and has expanded AML obligations to all individuals and organizations. In this article, we summarized the highlights of the Amended AML Law.
  • Data protection: Chinese authorities put compliance pressures on online business operators

    On July 2, 2021, the Cyberspace Administration of China (CAC) announced on its website that it has started a cybersecurity review on Didi (world’s biggest online ride-hailing company), and during the review Didi is not allowed to register new users. CAC did not offer details about this law enforcement action, but said its purpose is to prevent data security risks, citing its Cybersecurity Review Measures. The announcement (see here) was published just two days after Didi’s huge IPO on NYSE. On the same day, Didi’s share fell as much as 10.9% after the open and was closed with a down of 5.30%. On July 4, 2021, CAC further ordered the removal of Didi’s ride-hailing app from the app stores with the reason that the app has “severely violated the laws and regulations when collecting and using personal information”, and On July 5, 2021, CAC further announced cybersecurity review on three other online platform operators providing cargo transportation hiring services and recruitment services.
  • China Issues its 'Blocking Statute'

    On June 10, 2021, China’s National People’s Congress Standing Committee passed the Anti-Foreign Sanction Law which comes into effective immediately. Similar to the EU’s “Blocking Statute”, the Law created a legal framework that will block the impact of the foreign sanctions on Chinese persons, prohibited relevant persons from following specific foreign sanctions, authorized the Chinese government authorities to launch retaliations and allowed relevant Chinese persons subject to the foreign sanctions to claim damages. 
  • A new standard in tax compliance

    Article by José Vicente Iglesias, partner at Tax Department of Garrigues in Madrid ('Expansión').
  • The culture of compliance touches every area of a company

    The culture of compliance is being mainstreamed throughout all areas of companies. Companies’ growing concern for fulfilling the many legal requirements affecting their day-to-day activity increasingly calls for multidisciplinary legal advisory services encompassing different areas, such as criminal law, tax law and labor and employment. The objective is to mitigate, to the greatest extent possible, the potential risks of improper conduct within a company.