PUBLISHED : Thursday, 06 December, 2018, 1:47pm
UPDATED : Thursday, 06 December, 2018, 4:13pm
Huawei CFO Sabrina Meng Wanzhou was held on December 1 in Vancouver and is facing a US extradition request
Huawei chief financial officer Sabrina Meng Wanzhou, who was arrested in Canada and is facing a US extradition request, had told employees in an internal talk on compliance that there are scenarios where the company can weigh the costs and accept the risks of not meeting the requirements of the law.
Meng took part in an internal question-and-answer session on October 29 with her father, Huawei founder Ren Zhengfei, where father and daughter shared their views on compliance.Both executives made references to the need to control the costs of compliance and not to exceed what is legally required in individual jurisdictions, according to a transcript of their remarks distributed to employees and obtained by the Post.Huawei declined to comment or verify the contents of the memo.Meng spoke of the different types of external regulatory compliance, dividing them into “red” and “yellow” lines. The former referred to rules where there is “no bargaining and must be strictly complied with,” she said. The latter is where strict compliance is not operationally feasible and the company can build in the costs of flouting the rules as “sunk costs,” she said, citing examples such as labour risks....MUCH MORE
