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- Latest cases, legislation and regulation updates and commentaries
An exclusive interview with Rajah & Tann's Regional Head of Dispute Resolution, Francis Xavier, SC, was featured online in the 13 April 2015 issue of The Financial Express. Titled "Practice of Arbitration Mechanism a Must to Woo Int’l Investors", Francis highlighted that the practice of arbitration mechanism in Bangladesh to resolve cross-border business disputes is an essential requisite to attract foreign direct investment into the country. To read the full article, click here.
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Leslie Kok Lihong wrote an article titled "Lifting the Veil on Corporate Corruption" in the February 2015 issue of The Sun, a Malaysian newspaper of general circulation.
The article emphasised the existing safeguards in relation to corruption in Malaysia. They include the Malaysian Anti-Corruption Commission Act 2009 ("MACCA") which, amongst others, introduced several new provisions, such as: (i) extra-territorial application to Malaysian permanent residents or citizens of Malaysia; (ii) making it an offence to bribe a foreign public official; and (iii) the establishment of the independent and externally monitored Malaysian Anti-Corruption Commission. The author also stated that in 2011, the Government initiated the Corporate Integrity System Malaysia and Corporate Integrity Pledge programme that allows companies to voluntarily commit to uphold anti-corruption principles.
The article also touched on the issue of corporate liability and how it is currently unclear whether the "person" punishable for corrupt practices includes corporate bodies, as only individuals / employees rather than corporations are charged for offences under the MACCA. In relation to this, in the NKRA Against Corruption website, it was stated that the MACCA would be amended to incorporate legal provisions for corporate liability per the United Kingdom's Bribery Act 2010 (UKBA) ("Proposed Corporate Liability Provision") which is seen as a step towards fighting institutional corruption.
The author concluded by stating that although there have been some negative reactions towards the introduction of the Proposed Corporate Liability Provision, most notably from the Malaysian Employers Federation, the proposed provisions, with proper enforcement and education, represents an important step in making the private sector more accountable and transparent by making companies accountable for the actions of their employees.
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