Huawei Technologies Chief Financial Officer Sabrina Meng Wanzhou, arrested in Canada and facing a US extradition request, told employees in…
Huawei Technologies Chief Financial Officer Sabrina Meng Wanzhou, arrested in Canada and facing a US extradition request, told employees in an internal call of agreement that there are scenarios where the company can weigh the costs and accept the risks
Meng participated in an internal questionnaire call on 29 October with his father, Huawei’s founder, Ren Zhengfei, where dad and daughter shared their views on compliance.
Both managers referred to the need to check the cost of compliance and did not exceed what is legally necessary in individual jurisdictions, according to a printout of their remarks distributed to employees and obtained by Post .
Huawei refused to comment or verify the contents of the note.
Huawei CFO arrested in Canada at US request “to violate Iran sanctions”
Meng talked about different types of external all regulatory compliance, dividing them into “red” and “yellow” lines. The former referred to rules where there are no negotiations and must be strictly followed, she said. The latter is where strict compliance is not operationally feasible and the company can incorporate the costs of discussing the rules as “reduced costs,” she said, quoting examples as occupational risks.
“Of course, beyond the yellow and red lines, there may still be another scenario, and this is where the external rules are ready and there is no objection, but the company is completely unable to follow the actual business. In such cases Man, after a reasonable decision-making process, accepts the risk of temporary non-conformity, she says.
In October, Ren said that they agreed that compliance management in “sensitive countries” must also take into account relevant laws in the United States and The European Union, without naming the countries.
“We can not bind us just because the US is attacking us,” said Ren in response to a question. “If our hands and feet are bound, we will not be able to continue to produce, what is the match? “
” The United States has very strict rules of compliance, but American companies are used to it, “said Ren.” No one dares to make the law has become a habit, and they can still achieve high speeds. Our company has not yet formed this habit, which is why communication costs are too high. “
Few details have arisen so far beyond confirmation from Canada’s legal department that Meng was arrested on December 1 in Vancouver in transit. A citizen’s hearing was set for Friday. The globe and the post reported that she was arrested for her attempted to eliminate the trade embargo imposed by the United States on Iran and quoted a Canadian source of knowledge about arrest.
Chinese telecom giants crossed Iran sanctions violations
Huawei asked in a memo to employees on Thursday as Post Post
Earlier this year, Shenzhen-based ZTE Corp. has come to the verge of collapse after the US has activated an export ban banning US companies doing business with the telecom equipment company. The ban is then lifted under a new 10-year trial and US $ 1.76 billion fine that saw the United States site as a tj endorse to monitor the company’s compliance with the terms of the deal.
Unlike ZTE, Huawei has not been formally accused of violating US export sanctions against Iran and North Korea.
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