Global | Publication | August 2018
Many thanks for reading Issue 15 of our Business ethics and anti-corruption Asia Pacific Insights.
With a growing trend of people coming forward to raise concerns in relation to corporate wrongdoing and workplace harassment, it is timely that the IBA issued a comprehensive guide on whistleblower protection. Mathias Goh and I summarise the salient aspects of the guide which serves as a useful resource for regulators and corporations on the development and implementation of whistleblowing channels. In a similar vein, Australia has proposed whistleblowing laws to provide protection to whistleblowers against retaliation and that require corporations to put whistleblowing policies in place. Abigail McGregor hails this as a move in the right direction.
Indonesia takes a step toward greater transparency with a regulation requiring corporations to disclose their beneficial ownership. Kresna Panggabean describes how the regulation supports ongoing efforts to prevent and eradicate crimes of money laundering and terrorism financing.
In a comparative jurisdictional analysis, we examine existing and emerging legislation in the United Kingdom, Australia, Hong Kong and Singapore on modern slavery and human trafficking. Milana Chamberlain, Abigail McGregor, Alfred Wu and I draw out the similarities and differences of the various laws and map out the challenges ahead for commercial organisations and make some practical recommendations.
Finally, Jeremy Lua and I provide a comprehensive overview of the anti-corruption regime in Singapore and share our thoughts on some updates and trends.
I hope you will find our articles in this Issue 15 informative and helpful!
Publication
On 24 October 2024, the Court of Justice of the European Union (CJEU) confirmed that the European Commission’s (the EC) 2009 decision, which imposed a (then record) €1.06 billion fine on Intel, was flawed as far as it found that loyalty rebates granted by Intel had anti-competitive effects.
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The Dutch tax classification system for non-Dutch entities will undergo significant changes as of 1 January 2025.
Publication
In King Crude Carriers SA & Ors v Ridgebury November LLC & Ors [2024] EWCA Civ 719 the Court of Appeal held that the claimant sellers (the Sellers) were entitled to claim the deposits promised under sale contracts as a debt despite the defendant buyers’ (the Buyers) breach of contract, which had resulted in the non-fulfilment of a condition precedent to the payment of the deposits.
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