GC magazine editor Alex Speirs moderated the first panel discussion of the day, entitled ‘Recalibrating the global trade compass’.
ASEAN Horizon Summit 2017
The changing face of compliance
Corporations today are facing far greater regulatory scrutiny than ever before. Companies are grappling with stricter enforcement around corruption, cybersecurity, fraud, money laundering and data protection, to name but a few. Those operating in sectors such as banking, financial services, insurance, energy, pharmaceuticals and information technology are finding themselves increasingly under the spotlight, where penalties for non-compliance can be substantial.
Foreword: Todd McClay
Asia Pacific is a very important part of the world and one whose significance continues to grow. These are a group of countries with large populations who are starting to grow very, very quickly. Individually, their economies are developing, while their engagement with the global economy is changing. Increasingly, they’re seeking external investment, while demand from consumers for goods and services continues to grow.
Respect for the law: the Bingham Centre Business Network
‘The clearest way to show what the
rule of law means to us in everyday
life is to recall what has happened
when there is no rule of law.’
So said Dwight D. Eisenhower. But for global businesses, often headquartered in countries that have long enjoyed the benefits of a robust judiciary, the connection between rule of law and profitability might not always be so obvious.
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Dinner with GC – Singapore
‘I find it strange that whether or not we use technology is still such a common question asked of general counsel, because I can’t understand how any legal team can work without it,’ remarked Jenni Aldrich, director of legal – APAC, at Google.
Recalibrating the global trade compass
For the past three decades, Asia Pacific has been the engine of growth for the global economy. In the wake of the East Asian financial crisis in the late 1990s, a gradual opening of economies and markets, most notably from China, has led to a boom – establishing new pillars of global economic strength alongside traditional mature economies in the region.
Banking on change
When the global financial crisis struck in 2008, the impact reverberated far beyond the traditional financial centres of the west. Initial speculation was that Asia would be relatively well insulated from the crisis due to the growing financial independence of the region. But instead, the effects hit at a speed and depth that surpassed all expectations. Under fire, financial institutions sought to reduce their exposure to the region, resulting in a steep decline in the value of currency and equity markets, at a time when the price and volume of exports was plummeting.
A social conscience – sustainability and Asia
While the concept of social responsibility and ethical behaviour by business has been a component of the corporate playbook in North America and Europe for more than a decade, Asia has somewhat lagged behind in the sustainability stakes. With troubling corruption levels, poor reporting standards and significant environmental risks a prominent feature of many countries in the region, the lofty standards now frequently expected by consumers were historically falling well short of the mark.
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New tech frontiers and the in-house counsel
GC: What has been the most significant use of technology that you have adopted in performing your legal function?
Ted Lazarus: Without question, the ability to work collaboratively on documents, presentations and spreadsheets using cloud-based Google applications has transformed the way we do our jobs. Teams of lawyers exchanging ideas in real time, both with each other and with other functions, ensures that all points of view are heard and maximises efficiency.
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The building blocks of working differently
Lego, world famous makers of toy building bricks, declares that its mission is to ‘inspire and develop the builders of tomorrow’. It had this ethos front of mind when it began unveiling a state-of-the-art design concept for some of its major global offices.
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