Leading Associates

Firms To Watch: Regulatory/compliance: foreign firms

Dorsey & Whitney LLP‘s Beijing office head Ray Liu specialises in complex, cross-border regulatory and compliance work; Liu’s track record includes working for the legal department of a Chinese bank’s New York branch, where his workload included fraud investigations and US banking regulation.
The broad practice of K&L Gates‘ Shanghai-based Max Gu covers food regulations, corporate compliance matters, complex regulatory advice, and overseas litigation.

Regulatory/compliance: foreign firms in China

Baker McKenzie

Baker McKenzie FenXun‘s Hong Kong and PRC-based team comprises specialists in corporate and government-led investigations, anti-corruption, and compliance issues. The practice is also expert in cross-border US work, as well as local regulatory and enforcement matters; and its sector specialisms cover technology, healthcare, entertainment, consumer goods, retail, and financial services. Hong Kong-based Mini vandePol heads the Asia-Pacific investigations, compliance and ethics offering. Also in Shanghai (at Baker McKenzie’s joint operation firm FenXun Partners), cross-border compliance and regulatory practitioner Henry Chen focuses on bribery, corruption and fraud; and Kailin Wang advises multinational, listed and private companies on compliance.

Praxisleiter:

Mini vandePol


Weitere Kernanwälte:

Henry Chen; Kailin Wang


Referenzen

‘Their biggest feature is global collaboration, and they can quickly provide support for cross-border projects. Their wide business coverage also allows clients to use them for almost all cases (unless there is a conflict of interest).’

Kirkland & Ellis International LLP

Home to experts in corporate investigations and anti-corruption, Kirkland & Ellis International LLP is consistently mandated by global private equity sponsors, asset managers and multinational corporations, as well as Chinese companies facing serious allegations of improper conduct. The team of ‘truly exceptional compliance and investigation lawyers’ is particularly experienced in high-stakes, cross-border government investigations, enforcement actions and civil litigation, as well as related compliance advice. In Shanghai, Tiana Zhang is a specialist in US and China-related crisis management, including compliance issues, and financial fraud and trade secret theft investigations; and Yue Qiu regularly assists with compliance issues and government investigations. Over in Hong Kong, Jodi Wu‘s clients include private equity firms and multinational life sciences companies.

Praxisleiter:

Tiana Zhang; Jodi Wu


Weitere Kernanwälte:

Jodi Wu; Grace Zhu


Referenzen

‘This is the best compliance and investigation team around.’

‘Clients are extremely impressed with the exceptional skills and expertise demonstrated by these compliance and investigation lawyers.’

‘Their thoughtfulness and attention to detail when handling complex legal matters are truly commendable.’

White & Case LLP

White & Case LLP‘s corporate investigations team in China routinely assists with the prevention and resolution of regulatory and criminal enforcement matters, as well as investigations and associated civil claims (both in China and globally). Providing notable support from Hong Kong, James Hsiao is experienced in international anti-corruption investigations, anti-money laundering, risk management, and regulatory and compliance issues. Anti-corruption investigation and compliance practitioner Bob Li is the key name in Beijing. Bingna Guo left the firm in October 2024.

Weitere Kernanwälte:

James Hsiao; Bob Li


Referenzen

‘The team is extremely efficient and serious.’

Kernmandanten

Audit Committee of ZTO Express


Audit Committee of GigaCloud Technology


Audit Committee of Full Truck Alliance Co


Goldman Sachs Asset Management


Goldman Sachs (Asia)


Jio Platforms


Cloopen Group Holding


Highlight-Mandate


  • Represented the audit committee of GigaCloud in an independent investigation into certain allegations, which were raised by a short seller report regarding alleged falsified financial statements, under-reported labour costs, undisclosed related party transactions, and other accounting irregularities.
  • Advised Goldman Sachs (Asia)  on multiple compliance matters involving investments in Chinese targets.

Norton Rose Fulbright

Norton Rose Fulbright's team in Shanghai assists both international and Chinese clients with financial services, asset management and insurance-related regulatory matters. It also fields experts in compliance audits and internal investigations. The practice additionally covers the regulatory side to corporate transactions, as well as risk assessments for emerging areas such as cybersecurity, data privacy and sanctions. With longstanding experience in China-related corporate and regulatory matters, Sun Hongdelivers great support to companies in relation to legal and compliance work’; and Ai Tong specialises in China's financial regulations. Tong’s track record includes regulatory matters involving investments in China by foreign financial institutions, such as insurance and reinsurance companies, banks, and fund and asset management companies.

Praxisleiter:

Sun Hong; Ai Tong


Referenzen

‘The firm’s lawyers have excellent language and professional skills. In recent years, the firm has also cooperated with excellent local firms to better meet the needs of clients.’

‘A world-renowned law firm with global coverage, which is crucial for multinational companies that operate globally.’

‘Pays attention to the latest developments in the legal field and shares them with clients in a timely manner, which is welcomed by clients’ legal teams.’

Kernmandanten

AXA


China Re


China P&C Re


HSBC


Polen Capital


Highlight-Mandate


  • Assisted an international utility company with the compliance review of its practice, in relation to engaging third-party consultants for its business operation in China.
  • Advised a global insurance group on multi-jurisdictional regulatory projects (where China is involved), involving anti-money laundering, anti-bribery and corruption, corporate and management operational structures, and corporate governance (among others).
  • Advised multinational financial institutions and corporations on a wide range of China-related regulatory issues.

Paul Hastings LLP

Paul Hastings LLP's China regulatory and compliance practice assists corporate clients with high-stakes government and internal investigations, as well as related compliance issues at global levels. It is particularly noted for its assistance to multinational technology, life sciences and private equity clients with compliance reviews and investigations. Working between Shanghai and Hong Kong, Shaun Wu is the firm’s Asia head of investigations and white-collar defence. Wu focuses on the Foreign Corrupt Practices Act, Bribery Act, fraud, misconduct, bribery, corruption, sanctions, trade controls, and other regulatory issues. Over in Shanghai, litigator Phoebe Yan acts for multinational clients and Chinese life sciences companies in investigations by US and Chinese government agencies into bribery, corruption, whistleblower claims, and conflicts of interest.

Praxisleiter:

Shaun Wu


Weitere Kernanwälte:

Phoebe Yan; John Tso


Referenzen

Great for the most difficult investigations.’

‘Their approach and delivery are always highly appreciated – solid quality and good responsiveness.’

Kernmandanten

SAP SE


ABB


Veolia Group


Highlight-Mandate


  • Assisting a multinational technology corporation with internal investigations and compliance reviews, in relation to anti-bribery and anti-corruption allegations.
  • Assisting a private equity and venture capital firm with internal reviews and regulatory compliance assessments, in relation to its investments and portfolio companies.
  • Representing the independent committee of the board of directors of a public-listed company, in connection with allegations of fraudulent practices and falsified transactions.

A&O Shearman

A&O Shearman's financial services experts in Greater China are regularly mandated by financial institutions to advise on complex regulatory matters. Recent work includes advising on the revocation of  banking licences, along with obtaining regulatory change of control approvals. Shanghai-based Jane Jiang from Lang Yue Law Firm  (the firm’s joint operation partner in China) assists large financial institutions with significant transactions and regulatory issues. Internal and regulatory investigations specialist Matt Bower heads up the Hong Kong litigation team.

Praxisleiter:

Jane Jiang; Matt Bower


Weitere Kernanwälte:

Fai Hung Cheung; Karen Chan


Clifford Chance LLP

Clifford Chance LLP's regulatory and compliance team covers financial regulatory issues, anti-money laundering, anti-corruption, sanctions, export control, data privacy, and cybersecurity. Working across the Hong Kong and Shanghai offices, Terry Yang advises financial institutions, market participants and industry bodies on Greater China and international regulatory matters; and mainland China managing partner Lei Shi heads up the firm’s Greater China anti-bribery, anti-corruption, sanctions and export control practice. Shi’s sector expertise encompasses financial institutions, private equity, TMT, consumer goods, and healthcare.

Praxisleiter:

Terry Yang; Lei Shi


Weitere Kernanwälte:

Feifei Yu


DLA Piper

Notably experienced in cross-border issues where the firm can leverage its extensive global network, DLA Piper's China team focuses on compliance reviews, regulatory advice, and internal and regulatory investigations. A large proportion of the group’s workload covers white-collar crime, internal fraud, anti-bribery and anti-corruption investigations; and the practice is increasingly involved in cybercrime-related reviews and investigations. Sammy Fang heads the compliance and investigations team from Hong Kong; while Rose Le assists with investigations and compliance matters from Shanghai.

Praxisleiter:

Sammy Fang


Weitere Kernanwälte:

Rose Le; Christine Liu; Liuyi Pang


Referenzen

‘Deep knowledge of China supply chains and sector focus – transferable knowledge and deep bench.’

‘They make clients feel like they are their Number 1 client and they would pull out all the stops for clients’ matters.’

‘Adept at handling complex and sensitive corporate matters.’

Hogan Lovells International LLP

Hogan Lovells International LLP's corporate investigations and anti-corruption workload encompasses assessments of clients’ risk exposure to regulators and responding to regulators’ actions. The team is particularly experienced in relation to the life sciences, healthcare and technology sectors. The Greater China investigations, white-collar and fraud practice is led from Shanghai by US-trained investigations lawyer Calvin Ding, an expert in regulatory issues, compliance and internal and government investigations, as well as corruption, conflicts of interest, trade compliance and cybersecurity incidents.

Praxisleiter:

Calvin Ding


Kernmandanten

ZTE Corporation


Latham & Watkins LLP

Latham & Watkins LLP‘s China regulatory and compliance team assists multinational companies and financial institutions with high-stakes investigations and enforcement actions. Heading up the China litigation and investigations practice from Beijing, Hui Xu regularly handles multi-jurisdictional investigations involving the Foreign Corrupt Practices Act, Chinese bribery laws and financial crimes, along with negotiating settlements with regulators in the US and China. Also in Beijing, Sean Wu acts for global and Chinese companies in major investigations and disputes.

Praxisleiter:

Hui Xu


Weitere Kernanwälte:

Sean Wu


Kernmandanten

Sinovac Biotech


AO Smith Corporation


Morgan, Lewis & Bockius LLP

Morgan, Lewis & Bockius LLP‘s China team covers anti-corruption issues, regulatory compliance, and investigations into alleged employee and third-party malfeasance. It also conducts due diligence for proposed acquisitions, including employment aspects, and assists with acquisitions requiring upgrades to compliance standards. The principal figures are Beijing and Tokyo-based Lesli Ligorner, whose corporate investigations workload closely aligns with her employment practice; anti-corruption specialist Todd Liao, who work between Shanghai and Boston; and securities and white-collar crime expert Charles Mo in Hong Kong. Bingna Guo joined the team from White & Case LLP, Shanghai Office in October 2024.

Praxisleiter:

Lesli Ligorner; Todd Liao; Charles Mo


Weitere Kernanwälte:

Margaret Luo; Bill Huang; Bingna Guo


Pinsent Masons

Pinsent Masons' China compliance team is consistently mandated by Chinese SOEs for cross-border compliance and investigations work involving Belt and Road Initiative projects. Global China practice executive Feifei Zheng in Beijing acts for Chinese and international engineering businesses on international compliance matters. Also in Beijing, corporate compliance lawyer Samon Sun (an April 2024 hire from Fangda Partners) specialises in anti-corruption and anti-bribery work, along with economic sanctions, export controls and sanctions.

Praxisleiter:

Feifei Zheng


Weitere Kernanwälte:

Samon Sun


Ashurst

Ashurst's Greater China financial regulatory practice covers all aspects of China financial services regulation. Working across the firm’s Beijing and Hong Kong offices, Patrick Phua assists international and PRC banks, sovereign wealth funds, exchanges and securities houses (among others) with regulatory issues and investigations. Over in Hong Kong, Tracy Wang advises major international financial institutions, securities brokers, stock exchanges, credit rating agencies and inter-dealer brokers on financial regulatory matters.

Praxisleiter:

Patrick Phua


Weitere Kernanwälte:

Tracy Wang


CMS

CMS' sector expertise includes pharmaceuticals, biotech, technology, energy, and logistics. The firm’s compliance practice in China is led by Shanghai-based Philipp Senff, who advises on compliance audits, risk assessments, internal investigations, whistleblower management and corporate governance. Senff additionally assists with the implementation of compliance management systems. Also in Shanghai, Lei Shi focuses on compliance and investigations. Former Beijing and Hong Kong managing partner Nicholas Beckett departed the firm in April 2024.

Praxisleiter:

Philipp Senff


Weitere Kernanwälte:

Jeanette Yu; Lei Shi


Referenzen

‘CMS’ PRC and Hong Kong regulatory assistance is invaluable.’

‘They consistently and helpfully report on the legal and regulatory changes that help clients stay ahead of the curve.’

Herbert Smith Freehills Kramer LLP

Herbert Smith Freehills Kramer LLP is consistently mandated for significant investigations and enforcement matters. The practice covers white-collar crime, regulatory investigations, trade sanctions, anti-money laundering, and compliance. In addition to the firm’s notable financial services expertise, the team assists with healthcare and energy-related regulatory investigations. The group is led from Hong Kong by cross-border criminal and regulatory specialist Kyle Wombolt. Investigations expert David Chen, who divides his time between Hong Kong and Shanghai, is an October 2023 recruit from Ropes & Gray LLP.

Praxisleiter:

Kyle Wombolt


Weitere Kernanwälte:

David Chen; Hannah Cassidy


Referenzen

‘HSF’s corporate investigations, regulatory and compliance practice is a premier practice of its kind in Asia.’

‘What clients appreciate most about them is the high-quality, tremendous experience and weight of authority that they bring to matters, which is unrivalled by any other law firm in that region.’

‘The team is led by Kyle Wombolt in Hong Kong and the service Kyle and his team provide to their clients is first rate.’

Linklaters

Particularly focused on financial regulatory matters, Linklaters' practice covers initial licensing and establishment matters, conduct of business, systems and controls, along with governance, regulatory changes, market disclosures, and investigations. In Hong Kong, Andrew Chung is experienced in internal and government authority-related investigations, in relation to financial crime, corruption, fraud, money laundering, and international sanctions; and Carl Fernandes focuses on the scope of licensing requirements in the context of cross-border business.

Praxisleiter:

Carl Fernandes; Andrew Chung


Referenzen

‘They are highly responsive, commercially minded, and provide practical (yet thought-through) analysis and advice.’

‘Andrew Chung and his team are detail oriented and have excellent experience in handling a broad range of complex regulatory and compliance matters.’

Andrew Chung’s familiarity with regulatory issues and knowledge of how financial institutions operate make him a key lawyer to consider for regulatory investigations or compliance matters.

Morrison Foerster

Headed by Hong Kong-based corporate investigations and anti-corruption expert Timothy Blakely, Morrison Foerster‘s China team is experienced in major investigations and regulatory compliance. The practice covers economic sanctions, anti-money laundering, Foreign Corrupt Practices Act (FCPA), governance, corporate compliance, and securities and accounting fraud. In Shanghai, Derik Rao focuses on compliance, regulatory and white-collar matters (along with FCPA investigations), in relation to the financial, healthcare, technology, telecoms and cryptocurrency sectors.

Praxisleiter:

Timothy Blakely


Weitere Kernanwälte:

Derik Rao; Chen Zhu; Gary Zeng


Ropes & Gray LLP

With sector expertise in technology, healthcare, life sciences, real estate, retail and private equity, Ropes & Gray LLP routinely handles high volumes of government and internal investigations involving major corporations and investors. Working between Hong Kong and Singapore, Andrew Dale acts for US and global corporations in corporate investigations; and dividing his time between Boston and Hong Kong, Geoffrey Atkins is an expert in civil and criminal anti-corruption and securities enforcement.

Praxisleiter:

Andrew Dale


Weitere Kernanwälte:

Geoffrey Atkins; Tina Yu


Referenzen

‘Experts in their fields and in complex, cross-jurisdiction matters.’

‘Trusted advisers.’

‘Geoffrey Atkins is extremely capable in this practice area.’

Sidley Austin LLP

Sidley Austin LLP's compliance and government enforcement team assists with a range of compliance and investigation matters in China, the US and EU. The group’s expertise covers anti-corruption, cybersecurity, data privacy, and international trade, including economic sanctions and export control issues. Working across the Beijing and Hong Kong offices, Lei Li, a former China’s senior government lawyer for China’s central government, handles high-profile regulatory and enforcement work.

Praxisleiter:

Lei Li


Skadden, Arps, Slate, Meagher & Flom LLP

The US-qualified team at Skadden, Arps, Slate, Meagher & Flom LLP has significant expertise in litigation, investigations and compliance. It is particularly experienced in defending Chinese companies against US regulators’ enquiries and related investigations. Hong Kong-based Steve Kwok assists with internal investigations and US regulatory enforcement matters, as well as trial and appellate litigation in US federal and state courts. Also in Hong Kong, Beatriz Paterno acts in internal corporate investigations.

Praxisleiter:

Steve Kwok


Weitere Kernanwälte:

Beatriz Paterno; Siyu Zhang


Referenzen

‘The team’s strengths and key capabilities are in defending Chinese companies in US regulatory enforcement matters and US federal and state court litigation.’

‘Steve Kwok stands out.’