Results (
Thai) 2:
[Copy]Copied!
As you all know, only two weeks remain in this year. I am sure that all of you are working hard for this Christmas and year end sales season. I would like you to do your best in order to achieve our targets.
As the pace of globalization continues to accelerate, so does its effects on multi-national organizations. For example, globalization has fostered an increase in multinational laws, and as a result, raised the importance to companies on complying with those laws wherever those companies do business. Certain business activities such as price-fixing, bid-rigging, bribery or other types of commercially unfair conduct committed in one region of the world can have serious impacts in other regions. Accordingly, international corporations must be aware of and comply not only with the requirements of their domestic regulatory agencies, but also with the applicable laws of foreign regulatory agencies. Failure to recognize and respect the impact of foreign laws on our worldwide business operations can have negative consequences. For example, the European Commission, the U.S. Department of Justice, National Development and Reform Commission of PR China, and the Japan Fair Trade Commission, each have levied large fines against multinational corporations for unlawful business practices which impacted their respective jurisdictions, even though the illegal practices occurred outside their jurisdictions. This means that business activity conducted in one country may nevertheless be found to be unlawful under another country’s laws, and ultimately subject a company to liability as a result. Moreover, in a growing number of cases, employees of companies that have been involved in illegal business activity in foreign countries have been found criminally liable for those activities and sentenced to serve time in prison in the United States. For bid-rigging case, one of Japanese major automobile-part supplier pleaded guilty for its wrongdoings with US authority where the company was fined of 478mil USD and six senior officers were confined in jail in the US. For bribery case, there is one of Japanese multinational general trade corporations also pleaded guilty with the USDOJ and was levied with 88mil USD fine for its unlawful payment to Indonesian government official, which was made via US banking account to seek for business awards for Indonesian oil plant project. As a result, it is imperative that all Pioneer employees be aware that these “cross-border” enforcement trends are increasing and take steps to ensure that we do not expose ourselves or Pioneer to the risks of unlawful business practices.
Being translated, please wait..