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On August 6th, China General Chamber of Commerce-USA (CGCC) hosted CGCC Legal and Policy Event: "Compliance Topics for Chinese Enterprises in the U.S.: Experience and Insights" at the Bank of China Building in New York. Over 50 representatives from CGCC member companies attended the event.
The event convened a panel of distinguished legal and compliance personnel from a diverse range of industries to share their experiences and insights on compliance-related topics and issues. Panelists discussed topics including cyber-security risk management, financial crimes and regulatory compliance, and corporate compliance programs.
Peter Reisman, Co-Chair of the CGCC Government & Public Relations Committee; Managing Director and Chief Communications Officer at Bank of China USA, served as MC of the program, welcoming moderator Xiaomin Chen, General Counsel Member at CGCC; General Counsel Member at China Construction America as well as panelists: Luis E. Fiallo, Managing Director of China Telecom Americas; Helen Bamford, Chief Compliance Officer of Bank of Communications (New York Branch); and Chenyue Zhang, Legal Associate of China Construction America.
Xiaomin Chen, General Counsel Member at CGCC; General Counsel Member at China Construction America gave brief opening remarks, commending the event for encouraging CGCC members to share their stories and learn from each others’ experiences.
Luis E. Fiallo, Managing Director of China Telecom Americas, introduced the topic of cyber-security and risk management by highlighting the consequences of data breaches, and its impact on companies and daily lives. Mr. Fiallo explained that cases of data breach are rapidly increasing and companies with efficient risk management protocols could prevent costly losses.
Following Mr. Fiallo’s presentation, Helen Bamford, Chief Compliance Officer of Bank of Communications (New York Branch) presented important information on financial crimes and regulatory compliance. Mrs. Bamford’s presentation mainly focused on economic sanctions (OFAC) and anti-money laundering (AML) regulatory background in the U.S. She concluded her presentation by encouraging companies to establish their own compliance offices.
Chenyue Zhang, Legal Associate of China Construction America concluded the speaking program by presenting key findings on operating a well-designed corporate compliance program. Throughout her presentation, Ms. Zhang demonstrated strategies to properly develop, maintain and implement compliance programs in businesses based in and outside of the U.S.
CGCC extends great thanks to the event’s distinguished speakers as well as to CGCC members: Bank of China, Deheng Chen, LLC, China Telecom Americas, Bank of Communications (New York Branch), China Construction America, China Merchants Bank, China Mobile International, HNA North America, Agricultural Bank of China, China Life, Taiping-Starr Holdings, King & Wood Mallesons LLP, Chinatex Oriental USA Inc, SGCC, ZTE, CBiBank, Waitex, Cathay Bank, SF Express, Masteel America inc., Anbang International, Broad U.S.A., Hongdou, and CIC for attending the event and contributing to the discussion with inspiring questions and insightful perspectives.
View the speakers' powerpoint presentations below:
Click here to view event photos
About CGCC:
Founded in 2005, the China General Chamber of Commerce – USA (“CGCC”) has been recognized as the largest and most influential non-profit organization representing Chinese enterprises in the U.S. Its membership consists of more than 1,500 Chinese and U.S. companies, 54 of which are ranked on the 2019 Fortune Global 500. CGCC’s mission is to create value, generate economic growth, and enhance cooperation between the U.S. and Chinese business communities. CGCC conducts extensive research and provides a broad range of programs, services, and resources to its members and key stakeholders in an effort to foster the mutual understanding, trust, and engagement between China and the U.S. As of 2018, CGCC’s Chinese member companies have cumulatively invested over $120 billion, employ more than 200,000 people, and support over one million jobs throughout the United States.
CGCC is a national organization and includes CGCC-New York (CGCCUSA-HQ), CGCC-Chicago, CGCC-Houston, CGCC-Los Angeles, CGCC-San Francisco and CGCC-Washington D.C.