Sanction Tracker – Russia
As part of our compliance and international trade practice, we strongly encourage all of our clients and other interested parties to take appropriate measures to determine if they are directly or indirectly doing business with any party subject to the sanctions that have been imposed against Russia. You can view Correctiv’s sanction tracker here. We do not maintain this check list. It is...
Thailand Falls Another Three Places on Transparency International’s Corruption Index
Thailand ranked 104th among 180 countries surveyed, down from 101st a year earlier, with an overall score of 36 out of 100. The higher the ranking the greater the perception of corruption, and the lower the score, the higher the perception of corruption. Although there have been minor changes, Thailand’s ratings on Transparency International’s Corruptions Perceptions Index...
Serious and Real Reform of the Thai FBA is Overdue.
The Bangkok Post reported on 21 May 2018 that the foreign business community is (again) pressing for reform of the Foreign Business Operations Act (FBA). We are seeing that again now. Reform is absolutely necessary, but the foreign business community needs to look carefully at reform proposals, because many past proposals, if they had been enacted, would have made the FBA more restrictive....
Anti-CorruptionAnti-Money LaunderingCommercialCorporate/M&A26 November, 2020by Legal Analytics
Compliance in the Time of Covid
Covid-19 has created a perfect storm for regulatory lapses and failures: an unprecedented combination of business and regulatory disruption in a condensed time of period. Compliance requirements and safeguards are ignored, and compliance investigations hindered, delayed, or canceled. But do not expect the Department of Justice or the Securities and the Exchange Commission(“SEC”) to relax...
Anti-CorruptionAnti-Money LaunderingCorporate/M&A26 November, 2020by Legal Analytics
Compliance Investigations in Thailand: Caste and Candor
There is one word that should start any real discussion about corruption in Thailand, and that word is Sakdina (ศักดินา). Sakdina is a historical system of social hierarchy that went so far as to assign a specific numerical rank to every person in Thailand depending on their status. Although officially abolished, it persists, in a less recognizable form, to this day. Tourists and first-time...
Investments & Company FormationConstruction & Property25 November, 2020by Legal Analytics
A Perfect Storm For Thailand’s Tourism Sector
Pfizer and BioNTech have announced the development of a vaccine that is over 90% successful in preventing Covid-19. This should open investment opportunities in Thailand, particularly in Thailand’s tourism sector. Thailand’s tourism sector and much of its economy has been in a slump since the Thai government took stringent measures to prevent the spread of Covid-19 in Thailand. Thailand’s...
Anti-Corruption16 November, 2020by Legal Analytics
TAT Sentence Upheld on Appeal
The Bangkok Post is reporting that the convictions of the former Governor of the Tourism Authority of Thailand (TAT), Ms. Juthamas Siriwan, and her daughter, Jittisopa Siriwan, have been held up on appeal to the Thai Supreme Court. This presumably brings an end to the long saga of the Bangkok Film festival corruption case.
Anti-CorruptionDispute Resolution15 November, 2020by Legal Analytics
Corruption & Defamation: The Recent TripAdvisor Controversy
The press reports about the American jailed for allegedly posting a defamatory review on TripAdvisor about the Seaview hotel in Koh Chang have cast a spotlight on Thailand’s strict defamation laws. Reports about the jailing of the American appeared on the BBC website, the New York Times and the Bangkok Post.
Anti-Corruption15 January, 2009by Legal Analytics
International Anti-Corruption Laws
Even before Barrack Obama became the 44th President of the U.S, a sea change in the enforcement of international anticorruption laws had started. The extent of that sea change became evident in December 2008 when Siemens AG and three of its subsidiaries agreed to pay a record U.S. $1.6 billion in fines to U.S. and European authorities for violating the U.S. Foreign Corrupt Practices Act (FCPA)...