Under the stewardship of the highly skilled and experienced Martin Rogers and James Wadham, Davis Polk & Wardwell LLP is well-versed at handling regulatory enforcement actions and associated litigation for regional and global financial institutions, as well as corporates from a range of other sectors. In this context, as well as defending clients in enforcement actions brought by local regulators, including the ICAC and HKMA, the team (which include US-qualified practitioners in Hong Kong) is able to leverage its considerable US resources to advise Chinese companies/financial institutions in probes by the US DOJ and SEC, among other agencies. Both co-heads have deep knowledge across a range of financial misconduct matters, including in the context of alleged market manipulation. Both Hong Kong and New York-qualified, Yuan Zheng and Bo Huang are also key members of the team, advising on a mix of compliance and contentious work, including for China-based entities in relation to FCPA, anti-money laundering (AML) and sanctions mandates.

The 'premier practice of its kind in Asia', Herbert Smith Freehills Kramer LLP' Hong Kong offering, which is led by exceptional litigator Kyle Wombolt, provides 'high-quality' advice to multinational clients in heavily regulated industries, including financial services, energy and healthcare, when faced with high-stakes internal and external investigations. Much of this work crosses borders throughout Asia and beyond, and the team works very effectively with other offices throughout its network, as well as alongside co-counsel, should the need arise. The 'very practical' Wombolt is at the forefront of the highest-stakes work handled by the team and 'has a keen sense for navigating sensitive legal issues', often helping to formulate responses involving collaboration from regulators across many different jurisdictions. Hannah Cassidy has excellent credibility among financial services clients, including hedge funds and banks, and regularly takes the lead on internal and external investigations into systems and controls breaches, AML failures, product mis-selling and insider dealing.

Forming an integral part of a global white-collar defence and investigations group, Gibson Dunn‘s Hong Kong team, regularly acts on its own, as well as alongside other firmwide offices, on purely country specific Asia-focused investigations/enforcement actions, as well as work involving co-ordination between multiple agencies. In particular, the team excels in representing large multinational clients (with operations in Asia and the US) in anti-corruption matters involving DOJ and/or SEC scrutiny – where the firm is also able to leverage the firm’s strong Washington DC offering, in particular. New York and Hong Kong-qualified partner Oliver Welch has deep experience across a range of alleged white-collar infractions and as well as regularly taking the lead on sprawling internal investigations also regularly advises on compliance programs, as well as assisting the firm’s private equity clients on FCPA-related due diligence associated with their M&A activity in the APAC region. Kelly Austin co-heads the team alongside Welch and although she is now primarily based in the firm’s Denver office she still has a core focus on Asia-related matters.

Combining strength from the US and Singapore as well as Hong Kong, Ropes & Gray LLP excels at handling ‘complex cross-jurisdiction matters’, primarily for private equity clients. The scope of this work is broad, including advice on large compliance programs to manage against risks associated with transactions handled throughout APAC, due diligence associated with M&A in the region, as well as handling enforcements/investigations in the aftermath of investment activity. Splitting his time between Hong Kong and Singapore, the ‘fantastic’ Andrew Dale is  ‘always accessible, calm, and organised’, and a popular choice for clients in the region as a result of his expertise at handling high-stakes corruption, sanctions and AML matters, from both a risk management and litigation perspective. Geoffrey Atkins is also ‘extremely capable’ in the area although he now spends most of his time out of Boston.

With a strong presence in Hong Kong (including Mandarin-speaking lawyers) and Mainland China, as well as being able to leverage resources in the US, Skadden, Arps, Slate, Meagher & Flom LLP is best known for its ability to provide ‘pragmatic solutions’ to Chinese companies in US regulatory enforcement proceedings. Former US prosecutor and team head Steve Kwok excels in this work (and internal investigations) and is also able to handle any ensuing litigation in both federal and state courts. Kwok is also noted for his ability to represent US companies on compliance policies with respect to their Chinese operations and also regularly handles due diligence with regard to M&A handled in the region. Hong Kong and New York-qualified counsel Siyu Zhang is also recommended for her ability to handle multi-jurisdictional regulatory investigations and internal investigations regarding business operations in China, including those involving allegations of fraud, bribery, bid-rigging, insider trading and embezzlement by employees.

Since opening several years ago, Steptoe LLP has continued to grow its offering, quickly gaining traction in the market as a result of its ability to provide 'concise, commercially sensible, and immediately implementable advice' for Greater China-based and international corporates in relation to regulatory compliance and white-collar defence of international laws (including as it relates to export controls and sanctions provisions). The arrival in May 2023 of Caitrin McKiernan (who splits her time between Hong Kong and San Francisco) from now defunct firm Shearman & Sterling, was the latest hire, further fortifying the firm's resources with regard to FCPA-related compliance and investigations, in particular. A former US assistant attorney and also serving time at the Bureau of Industry and Security, team head Wendy Wysong is 'able to explain the workings within US governmental agencies and strategize accordingly for the client', particularly regarding issues arising from the various US government "blacklists". The 'highly responsive' Ali Burney is also a key member of the team that is able to provide the 'most practical and implementable advice' to clients in the context of compliance and regulatory investigations relating to US economic sanctions, export controls, the US FCPA and AML laws.

With a strong presence in Hong Kong and also acting in a very collegial way with lawyers in other key APAC jurisdictions, including Shanghai and Tokyo, should the need arise, Ashurst provides 'very commercial' advice to companies and financial institutions on both country-specific contentious white-collar criminal and pan-Asian matters. Cliff Chow delivers 'penetrating legal analysis and brilliant expositions' to clients, including Hong Kong-listed corporates, when facing down corruption investigations/enforcement actions from regulators, including the HKMA and the ICAC. James Comber heads the team and has experience of advising banks in both internal and external investigations responding to allegations of white-collar criminal behaviour.

Guided from Hong Kong by the highly experienced Mini vandePol, and able to mobilise substantial resources across APAC and worldwide, Baker McKenzie is strategically equipped to conduct internal and regulatory investigations for regional and international multinationals across a broad spectrum of suspected anti-corruption activities, including AML, sanctions, and financial fraud issues. Recently promoted to partner Christine Cuthbert  is also a pivotal member of the team and excels at handling cross-border investigations into allegations of financial fraud, bribery and corruption for clients from a range of industry sectors, including a growing amount in the engineering space.

Now solely headed by Gareth Hughes following Mark Johnson’s retirement from the partnership, Debevoise & Plimpton LLP‘s Hong Kong team acts on its own as well as often alongside practitioners in Mainland China, London and New York, in cross-border investigations for Asia-based companies facing allegations across a myriad corruption and bribery infractions. Hughes is very skilled at mobilising resources in high-stakes and reputational threatening situations, working with board members, in-house legal functions and external advisers, to provide a co-ordinated response in relation to matters involving HKSFC, HKMA, HKSE and the ICAC. The team also regularly advises international clients with operations throughout Asia on establishing compliance programs to manage their risk with regard to anti-bribery and corruption infractions.

With a small presence in Hong Kong, practitioners on the ground in mainland China, and also being able to leverage the firm's huge international network, DLA Piper is well-versed at advising international and Greater-China-based companies across a range of domestic and cross-border anti-corruption/bribery-related work. Team head Sammy Fang  takes the lead on many of the mandates, including internal investigations, establishing compliance programs and external regulatory investigations including from the Hong Kong ICAC.

Well-established independent Hong Kong firm Haldanes, Solicitors and Notaries is particularly skilled at defending individuals in white-collar criminal matters, helping guide them through the formative stages as well as before regulatory agencies and in court, if necessary. The tone is set by ‘experienced and knowledgeable’ team head Felix Ng whose ‘combination of knowledge of both criminal law and securities law makes him a stand-out practitioner in the regulatory field’. Ng also handles some work for companies, including in the defence of claims of cartel behaviour before the Competition Commission. Himself originating from the PRC, the ‘industrious and conscientious’ Paul Wang is particularly skilled at advising Mainland Chinese clients and is skilled at handling a myriad investigations and prosecutions brought by agencies including the SFC, ICAC and the HKEX.

The ‘experienced, responsive and helpful’ team at Johnson Stokes & Master provides ‘high-quality’ work to international companies with Greater China operations, as well as a range of financial services clients, on regulatory and internal investigations into fraud, sanctions breaches and other allegations of white-collar crime. Benefiting from previous experience in-house at a major investment bank as well as having spent time at the SEC, Alan Linning has excellent insight into the sector, regularly handling work for banks and funds subject to regulatory scrutiny, including with regard to market misconduct and insider dealing.

With a significant presence in Hong Kong and also able to draw upon vast resources throughout the PRC, King & Wood Mallesons is well-positioned to represent Chinese companies and international entities with a nexus to Greater China across the full spectrum of regulatory, fraud and anti-corruption issues. Barbara Chiu provides guidance on matters related to potential criminal activities by directors or employees of both private and publicly traded companies. She also defends clients against criminal charges, including corruption, misconduct in public office, fraud, and money laundering. Paul Starr co-heads the overarching dispute resolution that houses the white collar offering alongside Chiu.

The 'exceptional' team at Kirkland & Ellis provides an 'incredibly responsive' service from a compliance/advisory and contentious perspective to global and regional investment fund, energy and healthcare entities, in particular, across a wide range of anti-corruption, fraud and bribery matters. As well as handling APAC-related matters, the team is also well-positioned to advise Chinese companies subject to US regulatory scrutiny - where it can resource matters with US-qualified local practitioners and practitioners on the ground in the US. Appreciated for her 'outstanding legal acumen, meticulous attention to detail, and unwavering dedication', team head Jodi Wu has been particularly active of late conducting internal investigations for life sciences clients looking into allegations of  embezzlement, sales data manipulation and  self-dealing, inter alia. She also regularly provides anti-corruption advice to private equity clients relating to work throughout the life cycle of activity in APAC, work which is spearheaded by Cori Lable  who still maintains a strong presence in the region despite having relocated to Los Angeles.

Working on its own as well as often in co-ordination with lawyers on the Mainland and in other key regional jurisdictions, Morrison & Foerster‘s Hong Kong offering, which is led by Timothy Blakely, is appreciated for their ‘pragmatic way of driving results’ for clients subject to regulatory scrutiny across a myriad bribery/corruption charges, both from a compliance and contentious perspective. A ‘seasoned investigator’, Chen Zhu has recently been very active advising numerous large life sciences/medical devices companies on internal and external fraud, bribery and corruption investigations in Mainland China and numerous other jurisdictions throughout APAC. A native Mandarin speaker, Zhu also has experience at advising on FCPA work and also regularly advises Chinese financial institutions on sanctions compliance programs.

Since the arrival of 'seasoned operator' Shaun Wu in 2020, Paul Hastings LLP has picked up market share, particularly among multinational tech, lie sciences and private equity firms, across a range of corporate investigations, anti-corruption compliance and white-collar criminal defence work regarding their Greater China operations. Under the expert guidance of 'very efficient' UK and US-qualified team head Wu, the team also regularly acts alongside practitioners in other global offices on multi-jurisdictional matters, as well as working with corporate practitioners in relation to corruption due diligence exercises associated with downstream investment activity in the region.

Eversheds Sutherland handles both internal investigations and investigations/enforcement actions initiated by various regulatory authorities relating to activity centred out of Hong Kong and the wider APAC region. Although it is sector agnostic, the team has recently been particularly active advising clients in the financial services, aviation and defence industries on litigation and compliance measures relating to sanctions, export control and white-collar activity. Mark Hughes handles a considerable volume of work for clients in internal and local and cross-border investigations by criminal and regulatory authorities in his role as overarching head of litigation throughout Asia. Jocelyn Chow  is also a key member of the team, combining her competition and trade subject matter knowledge with an in-depth understanding of regulatory and court procedures, ensuring that clients are well-served in both a contentious and non-contentious perspective.

Acting alone as well as being able to leverage global resources across the firm's extensive international network, Linklaters is proficient across a range of regulatory and criminal investigations throughout Greater China and the rest of the globe, covering a myriad fraud, bribery and corruption matters. Leveraging experience gleaned from his previous tenure in-house at an investment bank, team head Andrew Chung is able to provide particular insight to financial services clients, both from a risk management perspective and in relation to internal/agency-led investigations regarding market manipulation and sanctions issues, inter alia.

The arrival in April 2023 of 'very experienced regulatory lawyer' Jill Wong  from Howse Williams was a major boost for Reed Smith Richards Butler LLP's ability to handle high-stakes regulatory/criminal enforcement matters and compliance mandates. Her longstanding involvement in private practice allied to her in-house experience at a major investment bank and before that the HKMA, ensures she is 'special amongst the lawyers in Hong Kong as her insights and judgement calls come from deep knowledge of how regulators think and how laws have changed over the years'. 

The ‘hardworking and proactive’ team at RPC is well-versed at representing both financial services entities (including within the banking, asset management and accountancy space) and individuals as defendants across a range of regulatory/criminal enforcement actions and associated litigation. The firm also excels in handling cross-border work, often working closely with lawyers from the firm’s Singapore and London offices. Peter Kwon is ‘particularly well known for his ability to navigate through complex and high-stake matters involving financial regulators’, including AML investigations, often with a Korean nexus. Team head Samuel Hung excels in representing accountancy and financial professionals in regulatory investigations and disciplinary proceedings.

Enhanced in November 2022 by the arrival of Ralf Sellar from Debevoise & Plimpton LLP, in what was a very rare lateral hire for the firm, Slaughter and May is increasingly well-positioned to represent financial services entities and listed companies in regulatory enforcement actions and pursuant litigation, spanning a wide range of alleged fraudulent/white-collar activity. Sellar is particularly adept at advising hedge and private equity funds, having historically acted for them across a range of compliance, SFC probes and multi-jurisdictional litigation. Sellar co-heads the team alongside Wynne Mok, who provides added insight for clients in relation to SFC investigations having herself formerly been director of enforcement at the regulator.

The ‘cost sensitive and flexible‘ team at Stephenson Harwood provides ‘insightful and effective legal advice’ to entities (including financial services firms) and individuals across a range of regulatory enforcement/criminal matters and domestic and cross-border litigation. Dorothy Siron who joined from Zhong Lun Law Firm in January 2024 is particularly skilled at advising on fraud and asset recovery and cyber-crime-related matters and is noted for her ability to achieve ‘great results for clients’. Team head Ian Childs has a focus on representing financial services clients on contentious regulatory/criminal matters and is able to provide unique insight in relation to fraud and AML offences by dint of his previous roles as senior officer in the Royal Hong Kong Police Force, Republic of Singapore Police Force and in security/investigations/AML at JP Morgan.