The Edge Singapore, the No.1 business and investment weekly in Singapore, asked Maarten Roos to give his experienced view upon the issue of internal control within Chinese-registered companies. He discussed the (problematic) power of legal representatives, binding chops/ stamps and the challenge of gaining control over the legal representative of a subsidiary in China.
In his recent book as well as in his legal practice, Maarten emphasizes the increasing importance of establishing optimal internal controls within Chinese subsidiaries of foreign companies. R&P has recently witnessed a trend within its practice: Clients increasingly feel the need to focus on corporate governance and internal control issues. Where in the past many foreign companies took this matter lightly, the increasing number of disputes that are arising from lax controls are motivating many companies to spend time on best practices for internal control mechanisms, and ensuring legal compliance.
R&P advises and assists clients with controlling their business or subsidiaries in China. If you are interested to see how we can be of value to your business in this respect, please contact [email protected].