Corruption has been a deep-rooted problem in Asia for many years. Local governments have tackled this issue with renewed vigour in recent years, and are fast developing and enforcing existing anti-corruption laws. Meanwhile, extraterritorial regulations from Europe and the U.S. are increasingly affecting how businesses operate in Asia. The U.S. Foreign Corrupt Practices Act (FCPA) is one such law. The FCPA has been in place since 1977, but actions under it have been prolific over the past few years as foreign investment and businesses flow into Asia at lightning pace. Kanishk Verghese reports

Baker & McKenzie has elected Milton Cheng as the new managing partner of the firm’s Hong Kong, China, South Korea and Vietnam offices.