On October 12, 2022, GB/T35770-2022 "Compliance Management System Requirements and Usage Guidelines", was officially approved by the State Administration of Market Supervision and Administration and the National Standardization Administration for release and implementation.
King&Capital's senior partner and partner-in-charge of the foreign-related business department, Mr. Zhang Libin, was invited to participate in the national standard drafting working group, fully participated in the drafting and formulation of the national standard of GB/T35770-2022 compliance management system, and authored the content of NA.1 Compliance Obligations and NA.3 Digitization and Compliance Management sections in the Supplementary Usage Guidelines of the Appendix NA.
The national standard GB/T35770-2022 specifies requirements applicable to all types of organizations for establishing, developing, implementing, evaluating, maintaining, and improving compliance management systems, and provides guidelines for their use. Compared with GB/T35770-2017, there are two major innovations in the development of this national standard: first, from the type of standard, from the guide type management system standard is revised to the requirement type management system standard, and accordingly all the clauses in the body of the standard are expressed using the requirement type clauses. Secondly, in terms of technical content, the definition of compliance obligation is modified to make it clear that the compliance obligation covers the requirements that the organization voluntarily chooses to comply with; and the individuals in the organization involved in the compliance management system are expanded to all the personnel and so on.
Considering the applicability of the compliance management system in China, this national standard designation creatively adds the informative appendix NA, which supplements, prompts or further refines the explanation of the integration and fusion of compliance obligations, compliance culture, digitalization and compliance management and management system.
In recent years, corporate compliance has gradually been emphasized by enterprises, and it is imminent for Chinese enterprises to establish a sound compliance management system and transform from rapid and innovative development to honest and compliant development. The main purpose of the standard preparation is to ensure the availability of compliance management system, that is, to ensure that the compliance management system established by the organization is effective and normal operation, and can play a role for the organization's compliance management. In turn, it facilitates trade and communication for the organization and improves the efficiency of the organization's operation and inter-organizational cooperation. The formulation of this standard will be of great significance to the promotion and implementation of compliance management in China.
As the drafter of the national standard compliance management document, Mr. Zhang Libin said, "From the historic place of Jiaxing Conference last year to now, it is very gratifying to finally get the promulgation after nearly two years of hard work with the members of the drafting team! Thank you all for your cooperation! I believe that the promulgation and landing of ISO37301 in China will greatly promote the development of China's compliance and rule of law cause, and also provide an international brand standard and international pass on compliance for Chinese enterprises to do well in compliance and go overseas."
(The picture shows a group photo of the participants of the National Standards Drafting Group meeting, the fourth from the left in the first row is Mr. Zhang Libin)
Mr. Zhang Libin
Mr. Zhang Libin graduated from the University of Texas at Austin School of Law in 1997 with a J.D. Mr. Zhang has been practicing law in China since 1997, and has more than 20 years of experience in private legal practice and corporate legal affairs. He has provided corporate compliance legal services for a number of companies and served as the General Counsel and Chief Compliance Officer of the Neo Group, and assisted in the establishment and improvement of the comprehensive compliance system of the Neo Group. Mr. Zhang has provided corporate compliance legal services for a number of companies and served as the General Counsel and Chief Compliance Officer of the Neo Group, where he helped establish and improve the comprehensive compliance system of the Group. Mr. Zhang was awarded the Chambers Impact General Counsel 2020 Award and was recognized by the Asia Pacific Law Bulletin (ALB) as one of the top 20 lawyers preferred by clients in 2017.
King&Capital Law Firm Foreign Affairs Department
King&Capital's Foreign Law Department specializes in providing domestic and international clients with services in three major areas: cross-border investment and mergers and acquisitions, compliance, and foreign dispute resolution. The main partners of the Foreign Law Department have more than 15 years of experience in practice, and have degrees from top domestic and international law schools as well as working experience in foreign law firms. Eight of the full-time attorneys and outside counsel in the Foreign Law Department have doctoral degrees, two of whom have JurisDoctors, and the others have master's degrees. They have an in-depth understanding of the cultural background and foreign legal environment of our overseas clients, and are able to provide the highest quality solutions for our clients' overseas investments, compliance affairs management and dispute resolution.
