The latest regulations in the EU, the US and many other countries compel companies and individuals to comply with international and local standards applicable to their businesses. These standards could be far more restrictive for cross-border trades or novel types of conducting business, such as using crypto currencies as payment methods.
Conducting a rigorous legal risk assessment now is a mandatory requirement for almost all businesses. However, the severity of such assessment depends on the nature of business, the respective industry, the country of origin, and the individual background. In doing so, companies, whether small, medium, or large, must take the necessary steps to conduct legal risk assessments, especially on issues related to violations of money laundering and counter terrorism-financing regulations, sanctions, transparency, anti-corruption regulations, prohibitions on the export or import of dual-use goods, intellectual property violations or the registration of shell or letterbox companies.
Due to the complexity of regulations and procedures, as well as the legal and economic impact of imposing penalties on companies and individuals in various jurisdictions, HCLA’s compliance team, through specialized legal risk assessment procedures and use of comprehensive legal and business databases, provides legal due diligence services to small and medium-sized businesses wish to strengthen their compliance mechanism.
For more information, please contact [email protected].