The FCPA Blog | By: Jianwei (Jerry) Fang | July 31, 2017:
In June this year, the Market Supervision Commission of the Shenzhen Municipality published an instructive standard document named Anti-bribery Management System Shenzhen Standard to help companies and other organizations prevent bribery, and detect and deal with any bribery that does occur.
Carved from ISO 37001, the Anti-bribery Management System Shenzhen Standard is the first domestic anti-bribery standard document for organizations adopted by a local regulator in China. Although it is not mandatory for organizations to adopt it, it’s a significant milestone in China’s fight against bribery.
In October 2016, the International Organization for Standardization published requirements with guidance for use of anti-bribery management systems, known as ISO 37001, to guide organizations in designing their own anti-bribery management system.
Not surprisingly, ISO 37001 is highly regarded by global companies. Even some countries have directly adopted ISO 37001 for their own governments’ anti-bribery management systems, including Singapore and Peru.
To a great extent, the components of ISO 37001 reflect steps and contents set forth in the FCPA guidance issued by the U.S. Department of Justice and the Securities and Exchange Commission, and the adequate procedures document issued by the UK Ministry of Justice.
The Anti-bribery Management System Shenzhen Standard or AMS defines “bribery” this way: with specific purpose, someone provides, commits to and accepts any improper benefits in any value for actions or inactions of others.
The AMS lists some typical types of improper benefits, such as property, jobs, and loans. That means “bribery” isn’t necessarily restricted to money but can also be any forms of value, including but not limited to special information and job opportunities.
To read full article – please click here.
