[Webinar] FCPA Essentials with Professor Mike Koehler
The Foreign Corruption Practices Act of 1977 (FCPA) was enacted to prevent people or organizations from paying foreign government officials to retain business or obtain new business opportunities. It is important to note that the FCPA does not solely apply to organizations buying and selling products overseas. In our modern, global economy, both international commerce supply chains and international communication networks play an increasing role in business operations, thus putting more businesses at risk of FCPA scrutiny.
The FCPA’s anti-bribery provision prohibits gifting anything of value to a foreign official with the intention of obtaining or retaining business. While this may seem like a straightforward provision, an FCPA violation may not be so obvious as handing a foreign diplomat a suitcase full of cash. “Anything of value” could be something trivial, such as a complimentary trip to a nearby amusement park for some clients visiting town for a trade show, or comping your products and services. If one of those clients could be considered a foreign official, you may have an FCPA violation on your hands.
Year after year, the number of penalties under FCPA climbs, making it increasingly important that companies operating internationally understand their risk. In the US, the DOJ and the SEC have taken to new enforcement measures to hold organizations accountable to the Foreign Corruption Practices Act. For example, the SEC’s Division of Enforcement is turning to social media to amplify their enforcement actions and identify high risk organizations.
An inquiry by the SEC could result in far more than multi-million dollar fines for companies or firms in breach of the FCPA. In 2019 alone, the DOJ and the SEC have gone after eight individuals on grounds of bribery or corrupt practices. If your company operates overseas or in partnership with foreign third parties you are also at risk of FCPA scrutiny.
This 75-minute webinar recording with Professor Mike Koehler shares the basics of the FCPA and the common root causes of FCPA scrutiny and enforcement. You’ll also learn how to minimize FCPA scrutiny through risk assessments and by creating uniquely tailored compliance training policies and procedures.