Tag:international compliance
Challenges and Opportunities in Regulating Cryptocurrency
Many nations are increasingly attempting to regulate Bitcoin and other forms of cryptocurrency. Increased regulation could help legitimize the currency, but uncertainties about what regulation lies ahead threatens the value of the currencies. A main driver of the increased value of cryptocurrencies is the potential for increased usage in markets globally and greater integration of them into our economy. Regulation may be essential to successfully enabling such integration, because with instability in trade and valuation of the currency it is hard for consumers to know whether they should be spending the currency, or if it will dramatically change in value over the course of a short time period.
Trump Administration and American Companies Challenge Chinese Regulation Regarding Intellectual Property
Chinese foreign investment policies have long favored investments that bring the country technological advances from foreign companies. In recent years, China has increasingly developed policies which force foreign companies to share their intellectual property with China and to allow Chinese companies to conduct business with the foreign country China has backed off their previous requirements to transfer such information in an attempt to meet the requirements of the World Trade Organization (“WTO”) since joining the organization in September of 2001. Evidenced by President Donald Trump recently signing a directive to initiate an investigation into Chinese trade practices regarding the attainment of intellectual property from foreign companies, many companies and trade organizations believe that China is not adequately protecting intellectual property rights of foreign companies.
The Hague Convention on the Protection of Children and Co-operation in Respect of Intercountry Adoption
Hague Conference on the Protection of Children and Co-Operation in Respect of Intercountry Adoption Convention is an international treaty agreement protecting the best interests of children in international adoptions. The Hague Convention (“Convention”) establishes standards of practice that are adhered to by the member countries. The overall goal is to protect children in the international adoption process while preventing the abduction, exploitation, sale and trafficking of children. The convention applies to any US citizen who is a US resident in the adoption of any child from certain countries.
Compliance in the Garment Industry: A Closer Look Into Bangladesh’s Factories
Compliance with labor laws is a major component of effectively and efficiently conducting business in the garment industry. Although there are a variety of areas, such as wage and hour compliance and disability compliance, human rights compliance issues are becoming increasingly prominent in recent times—especially in Bangladesh. The garment industry in Bangladesh came under international scrutiny in 2013 after the collapse of the Rana Plaza building, ultimately killing over 1,100 workers. This incident is considered to be one of the worst industrial disasters to ever occur and exposed many serious hazards that were occurring in Bangladeshi factories. Subsequently, some of the largest brands shifted to implement better conditions for workers.