Foreign Corrupt Practices Act. The Rationale behind the Implementation of the FCPA

Size: px
Start display at page:

Download "Foreign Corrupt Practices Act. The Rationale behind the Implementation of the FCPA"

Transcription

1 Surname 1 Name: Instructor: Course: Date: Foreign Corrupt Practices Act The Rationale behind the Implementation of the FCPA The foreign corrupt practices act, or FCPA for short, was enacted in During the signing of the act, the then United States president, Jimmy Carter, emphasized on the importance of weeding out corporate corruption. The president stated that corporate bribery is ethically repugnant (Weissman 616). What was the motivation behind implementation of the act? In the year 1977 and a few years before this time, the United States department of justice and Service Exchange Securities recorded a long list of corporate crimes. Precisely, the government institutions recorded over 400 overseas and domestic bribery scandals involving corporations that were thought to be reputable. With these records, Carter s administration found it necessary to introduce a law that would curb these vices, and introduce accountability and transparency in the corporate sector (Murphy 44). The 94 th and 95 th US congress received information revealing that US businesses were making payments to foreign governments officials and political parties. The payments added up to more than $300 million. The payments were a source of embarrassment to the state simply because they were made to secure favorable or lenient action by foreign states or clerical duties. The more than 400 companies culpable represent a wide range of sectors; airlines and air services, oil and gas, healthcare and chemicals among others (Girasa 6).

2 Surname 2 What the FCPA Prohibits FCPA has two major provisions: anti-bribery and account or book keeping provision. Since the enactment of the FCPA, several amendments have been made. Currently, the antibribery provision applies to three categories of persons, which are: domestic concerns, issuers and third parties. Issuers refers to business entities whose stocks are listed in any stock exchange within the United States, or which are required to comply with Securities and Exchange s (SEC) reporting standards (Cragg 98). Conversely, domestic concerns refers to real persons who are residents of the United States and any corporate persons (partnerships, business trust, Joint Stock Company, associations, or sole proprietorship) that have their primary place of business in the US, which is incorporated under the US laws, or commonwealth of the United States (Cragg 98). The act also covers bribery actions committed by any persons, their citizenship notwithstanding (Atkinson 445). In addition to the anti-bribery provision, the act also has a provision that addresses books and records and internal controls. These provisions only apply to issuers. The provision requires issuers to keep books and records in reasonable detail to truthfully and fairly reflect transactions and nature of assets. Secondly, the accounting provision requires issuers to put in place a credible system of internal controls (Girasa 10). The anti-bribery act is concerned with the prohibition aspect of the FCPA while the accounting provision addresses the issues of standards that all SEC regulated institutions are required to abide by (Murphy 50). The latter addresses all business entities (SEC regulated or otherwise). The provision controls corporate corruption in three ways: first, the provision prohibits all firms from bribing foreign government officials, or political parties or party officials

3 Surname 3 (directly or indirectly) with an aim of securing favorable condition to obtain or retain business (Weissman 620). Secondly, the provision prohibits any business entity or person from using mail or interstate commerce to offer a payment of money or anything of value to an official in a foreign country. Anything of value represents a bribe in any other forms, but not cash or cash equivalent. The anything of value category may include promise of employment, loans, sports equipment, and college scholarships among others (Weissman 621). Thirdly, the provision prohibits the promising or giving of anything of value to foreign government officials, political party, or political party official, to influence any business deals within his or her official position, or to induce these foreign officials to violate their domestic legal process (Atkinson et al 449). There are three categories of payments that do not result to FCPA liability. The payments are: bona fide business costs, grease payments and payments permitted by domestic laws. How the Act Impacts On Business in National and International Levels The current state of FCPA affects a wide range of businesses. Initially, the act was not concerned about non residents doing business in the United States. Presently, the act has a wide fishing net, even corporate persons whose headquarters are outside the US, but whose stocks are listed in any of the US s stock exchange are a target of the act. Precisely, any business incorporated in the US, or doing business in the US is required to abide by the provisions (especially the anti-bribery provisions) of the FCPA. This means that both national and international business has to follow business ethics as stipulated in the act. Internal controls (for companies subject to SEC regulations) are a must, while all business with operations in the US must abide by the anti-bribery provisions (Murphy 25). FCPA becomes part and parcel of

4 Surname 4 national and international businesses, and anyone who ignores this act does this at their own peril. Companies operating in high risky areas (areas where giving a bribe is considered to an accepted culture) like Russia, Brazil, China and most developing countries must be very cautious. Act enforcers conduct rigorous audits especially in places of high risk, and so to avoid paying hefty penalties, or facing criminal charges, the best thing to do is do the right thing: comply with FCPA requirements (Cragg 98). It is also worthwhile to note that the Obama administration has set 100 percent exports growth within the next five years. That being the case, FCPA and all other laws that address foreign business transactions will play a significant role. All business entities, big or small, must comply with the requirements of the act if they are to remain in business (Atkinson 450). Significance of the FCPA in United States Commerce It would be inaccurate to conclude that FCPA has no impact on the United States commerce. The law is significant and its importance has been felt in the last couple of years (Atkinson 450). A decade ago, FCPA prosecutions were rare. In the last couple of years, however, enforcers of the act has stepped up their efforts to ensure that the law serves the obligation is was meant to serve. In 2010 alone, more than 50 entrepreneurs were indicted, sentenced or were convicted and are now awaiting sentencing after violating the provisions of the FCPA (Murphy 63). Since 2008, government agencies charged with the role of enforcing the act has around 150 investigations relating to the FCPA violations. Each year, the US judiciary handles more than 40 cases directly linked to non compliance of the act. The cases brought to courts are 50 percent against real persons and 50 percent against corporate persons. It is true that FCPA had been neglected for some time. However, since 2008 enforcement of the act started in

5 Surname 5 earnest. Government agencies like the federal bureau of investigations (FBI), Securities Exchange Commission (SEC) and the department of justice work together to ensure that all those culpable of violating the act face the full wrath of the law. As a matter of fact, these institutions have been working diligently to prove to the business community that FCPA has teeth which it can use to bite. FCPA audits have been a common place especially in states with high corruption index (Girasa 40). Penalties for violating FCPA FCPA act demands that corporate persons should not pay fines for convicted real persons (Weissman 638). The act proposes fines for both real and corporate persons. This means that companies can be convicted and fined heavily. For instance, culpable corporations can be fined up to $2 million per infringement of the anti-bribery act. Individuals culpable of violating the same provision are charged a criminal fine of not less than $250,000 per violation. Intentional violation of books and records and internal controls requirements can result to a criminal penalty of $25 million for corporations and a criminal fine of $5 million and 20 years imprisonment for culpable individuals (Cragg 98). Who enforces the law? The Department of justice (DOJ) and the Securities and Exchange Commission are both charged with the role of enforcing the FCPA. The SEC is charged with the role of bringing civil charges against issuers, and all those who work in concert with them in violating the act. The DOJ is responsible for criminally prosecuting issuers, their officers, directors and anyone who collaborates with them in violating the act. Additionally, the DOJ has civil anti-bribery authority and can prosecute issuers and non-issuers who go against the requirements of the FCPA (Atkinson et al 445).

6 Surname 6 Works Cited Atkinson, Cameron, & James, Tillen. The Foreign Corrupt Practices Act: Compliance Issues in the Tax and Customs Arena. Tax Executive, 57.5 (2005): Print. Cragg, Wesley, & William, Woof. The U.S. Foreign Corrupt Practices Act: A Study of Its Effectiveness. Business & Society Review, (2002) 98. Print. Girasa, Roy. Crackdown on Corruption. Westchester County Business Journal, 49.40(2010) Print. Murphy, Aaron. Foreign Corrupt Practices Act: A Practical Resource for Managers and Executives. Hoboken, New Jersey: John Wiley and Sons, Weissman, Miriam.The Foreign Corrupt Practices Act: The Failure of the Self-Regulatory Model of Corporate Governance in the Global Business Environment. Journal of Business Ethics, 88.4 (2009): Print.

{>> Foreign Corrupt Practices Act //]

{>> Foreign Corrupt Practices Act //] {>> Foreign Corrupt Practices Act //] FCPA Defintion FCPA Definition FOREIGN CORRUPT PRACTICES ACT - The risk of doing business abroad has just increased dramatically as non compliance with the Foreign

More information

Foreign Corrupt Practices Act ( FCPA )

Foreign Corrupt Practices Act ( FCPA ) Foreign Corrupt Practices Act ( FCPA ) OVERVIEW The Foreign Corrupt Practices Act ( FCPA ) was passed in 1977 in an effort to address concerns over the integrity of U.S. markets after hundreds of U.S.

More information

A Summary of U.S. Law Against the Bribery of Foreign Officials:

A Summary of U.S. Law Against the Bribery of Foreign Officials: Fall Winter 2005 A Summary of U.S. Law Against the Bribery of Foreign Officials: The U.S. Foreign Corrupt Practices Act The U.S. Foreign Corrupt Practices Act (the FCPA ) prohibits corrupt payments to

More information

U.S. Foreign Corrupt Practices Act for Beginners

U.S. Foreign Corrupt Practices Act for Beginners U.S. Foreign Corrupt Practices Act for Beginners This presentation, related materials and subsequent discussion are provided for educational purposes only. They do not constitute legal advice nor do they

More information

Anti-Corruption and FCPA Compliance Policy

Anti-Corruption and FCPA Compliance Policy Anti-Corruption and FCPA Compliance Policy Purpose and Scope Vicor Corporation ( Vicor or the Company ) must comply with the U.S. Foreign Corrupt Practices Act of 1977, as amended (the "FCPA") and all

More information

Foreign Corrupt Practices Act & Compliance Policy

Foreign Corrupt Practices Act & Compliance Policy Team Resources Management () INTEGRITY MANAGEMENT SYSTEM (IMS) Printed documents are considered uncontrolled. Controlled documents can be found on the Atlantica server. -2-POL-057 1 0 02-Dec-2013 1 of

More information

CARDINAL RESOURCES LLC INTRODUCTION

CARDINAL RESOURCES LLC INTRODUCTION CARDINAL RESOURCES LLC ANTI- BRIBERY AND ANTI- CORRUPTION POLICY INTRODUCTION The purpose of this Anti- bribery and Anti- corruption Policy (the "Policy") is to ensure compliance by the Red Bird Group

More information

Complying with the U.S. Foreign Corrupt Practices Act

Complying with the U.S. Foreign Corrupt Practices Act Complying with the U.S. Foreign Corrupt Practices Act 1. About This Manual This Manual describes the Foreign Corrupt Practices Act ( FCPA ), 15 U.S.C. 78m, 78dd, 78ff (collectively, FCPA ), anti-corruption

More information

CC255 C O R P O R A T E. Altus FCPA Policy. Last revised: 12 October 2010

CC255 C O R P O R A T E. Altus FCPA Policy. Last revised: 12 October 2010 CC255 Altus FCPA Policy Last revised: 12 October 2010 C O R P O R A T E Foreign Corrupt Practices Act Policy Purpose The purpose of this Policy is to ensure compliance by Altus and its directors, officers,

More information

An Overview of the U.S. Foreign Corrupt Practices Act of 1977. Frankfurt, 18 March 2013 Christophe Guibert de Bruet

An Overview of the U.S. Foreign Corrupt Practices Act of 1977. Frankfurt, 18 March 2013 Christophe Guibert de Bruet An Overview of the U.S. Foreign Corrupt Practices Act of 1977 Frankfurt, 18 March 2013 Christophe Guibert de Bruet OVERVIEW 1) History of the FCPA 2) Relevant Provisions 3) Enforcement and Recent Trends

More information

FOREIGN CORRUPT PRACTICES ACT POLICY for PROJECT PROFESSIONALS GROUP PTY. LTD.

FOREIGN CORRUPT PRACTICES ACT POLICY for PROJECT PROFESSIONALS GROUP PTY. LTD. FOREIGN CORRUPT PRACTICES ACT POLICY for PROJECT PROFESSIONALS GROUP PTY. LTD. 1.0 Purpose and Scope of this Manual The purpose of this Policy is to ensure compliance by Project Professionals Group Pty.

More information

The Legal and Policy Framework of the U.S. FCPA

The Legal and Policy Framework of the U.S. FCPA The Legal and Policy Framework of the U.S. FCPA Combating Corruption When Doing Business Globally: Corporate Compliance Programs and the FCPA November 6, 2009 Paul E. McGreal Associate Dean and Professor

More information

Anti-Bribery Provisions of the Foreign Corrupt Practices Act: Application to Foreign Corporations and Individuals

Anti-Bribery Provisions of the Foreign Corrupt Practices Act: Application to Foreign Corporations and Individuals Anti-Bribery Provisions of the Foreign Corrupt Practices Act: Application to Foreign Corporations and Individuals LeClairRyan Carlos F. Ortiz 973.491.3365 carlos.ortiz@leclairryan.com Valerie C. Charles

More information

THE US FOREIGN CORRUPT PRACTICES ACT ( FCPA ) COMPLIANCE POLICY AND GUIDELINES

THE US FOREIGN CORRUPT PRACTICES ACT ( FCPA ) COMPLIANCE POLICY AND GUIDELINES THE US FOREIGN CORRUPT PRACTICES ACT ( FCPA ) COMPLIANCE POLICY AND GUIDELINES 1. INTRODUCTION 1.1 The purpose of this policy is to provide all employees, directors and officers of DRDGOLD Limited, its

More information

Foreign Corrupt Practices Act Amendments 1

Foreign Corrupt Practices Act Amendments 1 Foreign Corrupt Practices Act Amendments 1 Appendix E SEC. 5001. SHORT TITLE. This part may be cited as the Foreign Corrupt Practices Act Amendments of 1988. SEC. 5002. PENALTIES FOR VIOLATIONS OF ACCOUNTING

More information

SEMGROUP CORPORATION. Anti-Corruption Compliance Policy August, 2011

SEMGROUP CORPORATION. Anti-Corruption Compliance Policy August, 2011 SEMGROUP CORPORATION Anti-Corruption Compliance Policy August, 2011 SCOPE This is a global policy (the Policy ) applicable to the worldwide operations of SemGroup Corporation ("SemGroup") and all of its

More information

Understanding the Foreign Corrupt Practices Act. A training program for Evergreen

Understanding the Foreign Corrupt Practices Act. A training program for Evergreen Understanding the Foreign Corrupt Practices Act A training program for Evergreen 2012 Why this is Important to know The FCPA has had a significant impact on the way American firms do business since it

More information

Corporate Code of Conduct

Corporate Code of Conduct Corporate Code of Conduct Statement of Policy. It is the policy of Casa Mining Limited (the "Company") that all of its officers, directors, employees, contractors, consultants and agents representing the

More information

PEPs and the FCPA. Presented to 10 th Puerto Rican Symposium of Anti Money Laundering. February 28 March 1, 2013

PEPs and the FCPA. Presented to 10 th Puerto Rican Symposium of Anti Money Laundering. February 28 March 1, 2013 PEPs and the FCPA Presented to 10 th Puerto Rican Symposium of Anti Money Laundering February 28 March 1, 2013 by Jay Perlman, Director Global Investigations & Compliance, Navigant Table of Contents I.

More information

PHILIP H. HILDER H I L D E R A N D A S S O C I A T E S, P. C. 8 1 9 L O V E T T B L V D. H O U S T O N, T E X A S 7 7 0 0 6 7 1 3-6 5 5-9 1 1 1 W W W

PHILIP H. HILDER H I L D E R A N D A S S O C I A T E S, P. C. 8 1 9 L O V E T T B L V D. H O U S T O N, T E X A S 7 7 0 0 6 7 1 3-6 5 5-9 1 1 1 W W W FCPA Now and Later PHILIP H. HILDER H I L D E R A N D A S S O C I A T E S, P. C. 8 1 9 L O V E T T B L V D. H O U S T O N, T E X A S 7 7 0 0 6 7 1 3-6 5 5-9 1 1 1 W W W. H I L D E R L A W. C O M Purpose

More information

Fraud-Related Compliance

Fraud-Related Compliance Fraud-Related Compliance Areas of Compliance, Part 1: FCPA, SOX, PCAOB, Dodd-Frank 2015 Association of Certified Fraud Examiners, Inc. Foreign Corrupt Practices Act (FCPA) Enacted to prohibit corrupt payments

More information

MATTHEWS INTERNATIONAL CORPORATION

MATTHEWS INTERNATIONAL CORPORATION MATTHEWS INTERNATIONAL CORPORATION U.S. FOREIGN CORRUPT PRACTICES ACT COMPLIANCE POLICY INTRODUCTION Principles Underlying the United States Foreign Corrupt Practices Act ( FCPA ). The FCPA s Anti-Bribery

More information

MIDMARK CORPORATION FCPA COMPLIANCE POLICY

MIDMARK CORPORATION FCPA COMPLIANCE POLICY MIDMARK CORPORATION FCPA COMPLIANCE POLICY I. INTRODUCTION The purpose of this guide is to provide all Midmark Corporation teammates an overview of the Foreign Corrupt Practices Act (FCPA) and its application

More information

DIGITAL RIVER, INC. FOREIGN CORRUPT PRACTICES ACT AND ANTI-BRIBERY POLICY. (Adopted by resolution of the Board of Directors on December 1, 2011)

DIGITAL RIVER, INC. FOREIGN CORRUPT PRACTICES ACT AND ANTI-BRIBERY POLICY. (Adopted by resolution of the Board of Directors on December 1, 2011) DIGITAL RIVER, INC. FOREIGN CORRUPT PRACTICES ACT AND ANTI-BRIBERY POLICY (Adopted by resolution of the Board of Directors on December 1, 2011) Digital River, Inc. and our affiliates ( DR ) must comply

More information

MUELLER INDUSTRIES, INC. ANTICORRUPTION POLICY

MUELLER INDUSTRIES, INC. ANTICORRUPTION POLICY MUELLER INDUSTRIES, INC. ANTICORRUPTION POLICY THIS POLICY HAS BEEN APPROVED BY THE BOARD OF DIRECTORS OF MUELLER INDUSTRIES, INC. ON FEBRUARY 11, 2010 AND IS APPLICABLE TO ALL DIRECTORS, OFFICERS, EMPLOYEES,

More information

Foreign Corrupt Practices Act Compliance

Foreign Corrupt Practices Act Compliance Document ID: LGL-D010 Rev 0 February 11, 2010 Page 1 of 6 Applies to: Aerojet Document Owners: Vice President, General Counsel and Executive Director, Contracts, Ethics & Compliance Purpose Background

More information

MACLEAN-FOGG COMPANY FOREIGN CORRUPT PRACTICES ACT COMPLIANCE POLICY

MACLEAN-FOGG COMPANY FOREIGN CORRUPT PRACTICES ACT COMPLIANCE POLICY MACLEAN-FOGG COMPANY FOREIGN CORRUPT PRACTICES ACT COMPLIANCE POLICY MacLean-Fogg s corporate policy prohibits all improper or unethical payments to government officials anywhere in the world. This is

More information

FOREIGN CORRUPT PRACTICES ACT ANTIBRIBERY PROVISIONS

FOREIGN CORRUPT PRACTICES ACT ANTIBRIBERY PROVISIONS FOREIGN CORRUPT PRACTICES ACT ANTIBRIBERY PROVISIONS United States Department of Justice Fraud Section, Criminal Division 10th & Constitution Ave. NW (Bond 4th fl.) Washington, D.C. 20530 Phone: (202)

More information

FCPA and International Compliance

FCPA and International Compliance FCPA and International Compliance Briefing to San Antonio Post, SAME C. Ernest Edgar IV General Counsel, Atkins North America 1 Agenda Understanding the FCPA The Nuts and Bolts of the FCPA Who Is Covered

More information

CHARTER FOR THE THE REGULATORY, COMPLIANCE & GOVERNMENT AFFAIRS COMMITTEE CHARTER THE BOARD OF DIRECTORS

CHARTER FOR THE THE REGULATORY, COMPLIANCE & GOVERNMENT AFFAIRS COMMITTEE CHARTER THE BOARD OF DIRECTORS CHARTER FOR THE THE REGULATORY, COMPLIANCE & GOVERNMENT AFFAIRS COMMITTEE CHARTER OF THE BOARD OF DIRECTORS OF Copyright/permission to reproduce Materials in this document were produced or compiled by

More information

Regulation for Compliance with Anti-Corruption Acts

Regulation for Compliance with Anti-Corruption Acts Regulation for Compliance with Anti-Corruption Acts 2014. 2. 24. Samsung Techwin Co., Ltd. Table of Contents Chapter 1 Article 1 Article 2 Article 3 General Rules Purpose Applicability Definition Chapter

More information

Foreign Corrupt Practices Act Policy August 19, 2015

Foreign Corrupt Practices Act Policy August 19, 2015 I. PURPOSE To provide guidelines to all officers, directors, employees, consultants and agents that are employed by the Company to ensure compliance with the Foreign Corrupt Practices Act of the United

More information

ERIN ENERGY CORPORATION. ANTI-CORRUPTION COMPLIANCE POLICY Effective Date: 10/1/2011

ERIN ENERGY CORPORATION. ANTI-CORRUPTION COMPLIANCE POLICY Effective Date: 10/1/2011 ERIN ENERGY CORPORATION ANTI-CORRUPTION COMPLIANCE POLICY Effective Date: 10/1/2011 Statement of Policy It is the policy of Erin Energy Corporation, (the Company ) to conduct its worldwide operations ethically

More information

ANTI-CORRUPTION COMPLIANCE GUIDELINES

ANTI-CORRUPTION COMPLIANCE GUIDELINES ANTI-CORRUPTION COMPLIANCE GUIDELINES INTRODUCTION These guidelines establish procedures for handling, and should help you identify anti-corruption concerns. If you are ever uncertain or feel uneasy about

More information

Foreign Corrupt Practices Act:

Foreign Corrupt Practices Act: Foreign Corrupt Practices Act: A Guide to U.S. Anti-Bribery Law Roger J. Magnuson 1 1 Guide to U.S. Anti-Bribery Law Foreign Corrupt Practices Act Three Components to this Presentation: Overview of the

More information

Administrative Policy No. AD 2.26 Title:

Administrative Policy No. AD 2.26 Title: I. SCOPE: Administrative Policy No. AD 2.26 Page: 1 of 5 This policy applies to all directors, officers, employees, agents, and shareholders of Tenet Healthcare Corporation, its subsidiaries and/or affiliates

More information

CLARIPHY COMMUNICATIONS, INC. FCPA. Foreign Corrupt Practices Act. FIN-161- Compliance Policy Revision C August 1, 2015

CLARIPHY COMMUNICATIONS, INC. FCPA. Foreign Corrupt Practices Act. FIN-161- Compliance Policy Revision C August 1, 2015 CLARIPHY COMMUNICATIONS, INC. FCPA Foreign Corrupt Practices Act FIN-161- Compliance Policy Revision C August 1, 2015 7585 Irvine Center Drive, Suite 100 Irvine, CA 92618 Phone: 949.861.3074 Fax: 949.861.3087

More information

Securities Litigation Alert The Foreign Corrupt Practices Act: The Next Corporate Scandal?

Securities Litigation Alert The Foreign Corrupt Practices Act: The Next Corporate Scandal? Securities Litigation Alert The Foreign Corrupt Practices Act: The Next Corporate Scandal? January 28, 2008 by christopher j. steskal As the stock option backdating cases wind down, what will be the next

More information

Introduction to the Foreign Corrupt Practices Act (a training presentation for employees)

Introduction to the Foreign Corrupt Practices Act (a training presentation for employees) Introduction to the Foreign Corrupt Practices Act (a training presentation for employees) Introduction Thank you for participating in our Foreign Corrupt Practices Act (FCPA) training program. [Our Company]

More information

NCI BUILDING SYSTEMS, INC. FOREIGN CORRUPT PRACTICES ACT POLICY STATEMENT AND COMPLIANCE GUIDE

NCI BUILDING SYSTEMS, INC. FOREIGN CORRUPT PRACTICES ACT POLICY STATEMENT AND COMPLIANCE GUIDE NCI BUILDING SYSTEMS, INC. FOREIGN CORRUPT PRACTICES ACT POLICY STATEMENT AND COMPLIANCE GUIDE Introduction The Foreign Corrupt Practices Act as amended by the International Anti-bribery and Fair Competition

More information

THE FOREIGN CORRUPT PRACTICES ACT: AN OVERVIEW

THE FOREIGN CORRUPT PRACTICES ACT: AN OVERVIEW THE FOREIGN CORRUPT PRACTICES ACT: AN OVERVIEW 1 This white paper summarizes some of the key points, considerations, and factors when faced with a Foreign Corrupt Practices Act matter. As with any overview,

More information

Compliance with the Foreign Corrupt Practices Act

Compliance with the Foreign Corrupt Practices Act l Compliance with the Foreign Corrupt Practices Act Howard O. Weissman Vice President and Associate General Counsel-International Lockheed Martin Corporation Foreign Corrupt Practices Act U.S. statute

More information

EAGLE PARENT, INC EPICOR SOFTWARE CORPORATION ACTIVANT SOLUTIONS, INC. FOREIGN CORRUPT PRACTICES ACT COMPLIANCE POLICY. (As Adopted - July 2011)

EAGLE PARENT, INC EPICOR SOFTWARE CORPORATION ACTIVANT SOLUTIONS, INC. FOREIGN CORRUPT PRACTICES ACT COMPLIANCE POLICY. (As Adopted - July 2011) EAGLE PARENT, INC EPICOR SOFTWARE CORPORATION ACTIVANT SOLUTIONS, INC. FOREIGN CORRUPT PRACTICES ACT COMPLIANCE POLICY (As Adopted - July 2011) 1.0 FOREIGN CORRUPT PRACTICES ACT COMPLIANCE POLICY ( FCPA

More information

NewYork-Presbyterian Hospital Sites: All Centers Hospital Policy and Procedure Manual Number: C150 Page 1 of 10

NewYork-Presbyterian Hospital Sites: All Centers Hospital Policy and Procedure Manual Number: C150 Page 1 of 10 Page 1 of 10 TITLE: POLICY AND PROCEDURES REGARDING COMPLIANCE WITH THE FOREIGN CORRUPT PRACTICES ACT ( FCPA ) POLICY: All Hospital Personnel are responsible for complying with the U.S. Foreign Corrupt

More information

Anti-Bribery and Books & Records Provisions of. The Foreign Corrupt Practices Act. Current through Pub. L. 105-366 (November 10, 1998)

Anti-Bribery and Books & Records Provisions of. The Foreign Corrupt Practices Act. Current through Pub. L. 105-366 (November 10, 1998) [As of July 22, 2004] Anti-Bribery and Books & Records Provisions of The Foreign Corrupt Practices Act Current through Pub. L. 105-366 (November 10, 1998) UNITED STATES CODE TITLE 15. COMMERCE AND TRADE

More information

Foreign Corrupt Practices Act Summary and Policy

Foreign Corrupt Practices Act Summary and Policy I. Introduction/Overview Foreign Corrupt Practices Act Summary and Policy It is the policy of Cantel Medical Corp. and its subsidiaries (the Company ) to comply with all applicable laws, rules and regulations,

More information

ELEPHANT TALK COMMUNICATIONS CORP. FOREIGN CORRUPT PRACTICES ACT COMPLIANCE POLICY

ELEPHANT TALK COMMUNICATIONS CORP. FOREIGN CORRUPT PRACTICES ACT COMPLIANCE POLICY ELEPHANT TALK COMMUNICATIONS CORP. FOREIGN CORRUPT PRACTICES ACT COMPLIANCE POLICY I. POLICY STATEMENT This Foreign Corrupt Practices Act Compliancy Policy (the Policy ) has been adopted by Elephant Talk

More information

Chambers General Counsel Seminar

Chambers General Counsel Seminar Chambers General Counsel Seminar FPCA: Current Challenges for In-House Counsel Gregory Kehoe Greenberg Traurig Michael Marinelli Greenberg Traurig Ernest Edgar Atkins North America Why is FCPA Important

More information

Supplier Anti-Corruption and Anti- Bribery Policy

Supplier Anti-Corruption and Anti- Bribery Policy Supplier Anti-Corruption and Anti- Bribery Policy 2014 Dwellworks Contents Purpose and Scope... 3 Core Principles... 4 Guidelines for Anti-Corruption and Anti-Bribery Compliance... 5 Applicable Definitions...

More information

LAUREATE ANTI-CORRUPTION POLICY

LAUREATE ANTI-CORRUPTION POLICY LAUREATE ANTI-CORRUPTION POLICY Laureate Anti-Corruption Policy 1.0 PURPOSE AND BACKGROUND This Anti-Corruption Policy establishes basic standards and a framework for the prevention and detection of bribery

More information

The Long Arm of the U.S. Foreign Corrupt Practices Act: Complying with the FCPA in the Vietnamese Landscape

The Long Arm of the U.S. Foreign Corrupt Practices Act: Complying with the FCPA in the Vietnamese Landscape The Long Arm of the U.S. Foreign Corrupt Practices Act: Complying with the FCPA in the Vietnamese Landscape Foreign Corrupt Practices Act: The Act What is the Act? Anti-Bribery Provisions Book and Record

More information

Foreign Corrupt Practices Act:

Foreign Corrupt Practices Act: Venable LLP Foreign Corrupt Practices Act: Charities, Colleges and Other Nonprofits: The Foreign Corrupt Practices Act Really Does Apply to You Value Added, Values Driven November 9, 2010 DEW, Jr. Venable

More information

ANTI-CORRUPTION AND ANTI-BRIBERY POLICY

ANTI-CORRUPTION AND ANTI-BRIBERY POLICY COMPLIANCE 18.0 ANTI-CORRUPTION AND ANTI-BRIBERY POLICY I. SCOPE This policy applies to all directors, officers, employees, agents, and shareholders of UHS of Delaware, Inc. (hereafter, UHS ), its subsidiaries

More information

Introduction to the U.S. Foreign Corrupt Practices Act

Introduction to the U.S. Foreign Corrupt Practices Act Introduction to the U.S. Foreign Corrupt Practices Act Pablo C. Ferrante June 2010 Partner 713-238-2662 pferrante@mayerbrown.com Mayer Brown is a global legal services organization comprising legal practices

More information

Regulatory Notice 11-12

Regulatory Notice 11-12 Regulatory Notice 11-12 Foreign Corrupt Practices Act FINRA Reminds Firms of Their Obligations Under the Foreign Corrupt Practices Act Executive Summary The Foreign Corrupt Practices Act of 1977 (FCPA)

More information

STATEMENT FROM THE CHAIRMAN

STATEMENT FROM THE CHAIRMAN STATEMENT FROM THE CHAIRMAN In an ever-changing global marketplace, it is important for all of us to have an understanding of the responsibilities each of have in carrying out day-to-day business decisions

More information

The U.S. Foreign Corrupt Practice Act. John McDermott Professor of Law Loyola Law School Los Angeles

The U.S. Foreign Corrupt Practice Act. John McDermott Professor of Law Loyola Law School Los Angeles The U.S. Foreign Corrupt Practice Act John McDermott Professor of Law Loyola Law School Los Angeles The U.S FCPA and other Anti-bribery laws The US FCPA was enacted in 1977 It was prompted by the Watergate

More information

Application of the Foreign Corrupt Practices Act in China

Application of the Foreign Corrupt Practices Act in China Application of the Foreign Corrupt Practices Act in China Introduction U.S. companies and their subsidiaries in China must have an adequate Foreign Corrupt Practices Act ( FCPA ) compliance program. Doing

More information

Foreign Corrupt Practices Act (FCPA): Congressional Interest and Executive Enforcement

Foreign Corrupt Practices Act (FCPA): Congressional Interest and Executive Enforcement Foreign Corrupt Practices Act (FCPA): Congressional Interest and Executive Enforcement Michael V. Seitzinger Legislative Attorney October 21, 2010 Congressional Research Service CRS Report for Congress

More information

FOREIGN CORRUPT PRACTICES ACT COMPLIANCE POLICY

FOREIGN CORRUPT PRACTICES ACT COMPLIANCE POLICY FOREIGN CORRUPT PRACTICES ACT COMPLIANCE POLICY Acuity Brands, Inc. is committed to maintaining the highest level of ethical and legal standards in the conduct of our business activities. The Company s

More information

What You Need to Know About the FCPA

What You Need to Know About the FCPA What You Need to Know About the FCPA May 12, 2016 Richard E. Weiner Fredrikson & Byron, P.A. Understanding The Legal Risks The FCPA prohibits: Improper payments and other practices in connection with overseas

More information

Worldwide Anti-Corruption Policy

Worldwide Anti-Corruption Policy Worldwide Anti-Corruption Policy I. PURPOSE The laws of most countries make the payment or offer of payment or even receipt of a bribe, kickback or other corrupt payment a crime, subjecting both Eaton

More information

COMPLIANCE POLICY MANUAL

COMPLIANCE POLICY MANUAL COMPLIANCE POLICY MANUAL FOREIGN CORRUPT PRACTICES ACT 07/24/2012 Policy Number 16-100 SUBJECT: FOREIGN CORRUPT PRACTICES ACT Application: Worldwide Strategic Business Units and Subsidiaries. It is the

More information

FOREIGN CORRUPT PRACTICES ACT COMPLIANCE POLICY

FOREIGN CORRUPT PRACTICES ACT COMPLIANCE POLICY FOREIGN CORRUPT PRACTICES ACT COMPLIANCE POLICY The following guidelines are derived from the United States Foreign Corrupt Practices Act ( FCPA ), and no deviation from these guidelines is permitted.

More information

ANTI BRIBERY AND FOREIGN CORRUPT PRACTICES ACT COMPLIANCE POLICY

ANTI BRIBERY AND FOREIGN CORRUPT PRACTICES ACT COMPLIANCE POLICY ANTI BRIBERY AND FOREIGN CORRUPT PRACTICES ACT COMPLIANCE POLICY THIS POLICY DOES NOT CREATE A CONTRACT OF EMPLOYMENT OR ALTER THE AT WILL NATURE OF ANY EMPLOYEE S EMPLOYMENT IN ANY WAY. 1. Statement of

More information

FOREIGN CORRUPT PRACTICES ACT COMPLIANCE POLICY

FOREIGN CORRUPT PRACTICES ACT COMPLIANCE POLICY PURPOSE POLICY FOREIGN CORRUPT PRACTICES ACT COMPLIANCE POLICY This Policy ensures that China Xiniya Fashion Limited ( Xiniya ) complies with the Foreign Corrupt Practices Act 1977 ( FCPA ). Penalties

More information

PHOENIX NEW MEDIA LIMITED FOREIGN CORRUPT PRACTICES ACT COMPLIANCE POLICY

PHOENIX NEW MEDIA LIMITED FOREIGN CORRUPT PRACTICES ACT COMPLIANCE POLICY PHOENIX NEW MEDIA LIMITED FOREIGN CORRUPT PRACTICES ACT COMPLIANCE POLICY Phoenix New Media Limited (together with its subsidiaries, the Company ) is committed to conducting all aspects of its business

More information

LANTHEUS HOLDINGS, INC. Foreign Corrupt Practices Act and Anti-Bribery Compliance Policy

LANTHEUS HOLDINGS, INC. Foreign Corrupt Practices Act and Anti-Bribery Compliance Policy LANTHEUS HOLDINGS, INC. Foreign Corrupt Practices Act and Anti-Bribery Compliance Policy 1. Introduction. Applicability. This Foreign Corrupt Practices Act and Anti-Bribery Compliance Policy (this Policy

More information

ANTI-BRIBERY AND FOREIGN CORRUPT PRACTICES ACT COMPLIANCE POLICY

ANTI-BRIBERY AND FOREIGN CORRUPT PRACTICES ACT COMPLIANCE POLICY Issued: November 12, 2013 ANTI-BRIBERY AND FOREIGN CORRUPT PRACTICES ACT COMPLIANCE POLICY SCOPE This policy applies to all Magnetek, Inc. ( Magnetek ) employees, its subsidiaries and affiliates worldwide,

More information

Anti-Bribery Provision. 30A of the Securities Exchange Act of 1934. [15 U.S.C. 78dd-1]

Anti-Bribery Provision. 30A of the Securities Exchange Act of 1934. [15 U.S.C. 78dd-1] Anti-Bribery Provision 30A of the Securities Exchange Act of 1934 [15 U.S.C. 78dd-1] 30A - Prohibited Foreign Trade Practices by Issuers (a) Prohibition It shall be unlawful for any issuer which has a

More information

U.S. Foreign Corrupt Practices Act (FCPA)

U.S. Foreign Corrupt Practices Act (FCPA) U.S. Foreign Corrupt Practices Act (FCPA) Laos Chapter American Chamber of Commerce in Thailand 26 August 2013 Douglas Mancill, Partner PriceSanond Bangkok Thailand +66-2-679-1844 dmancill@pricesanond.com

More information

Beyond Compliance: Building a Robust Ethics and Compliance Program

Beyond Compliance: Building a Robust Ethics and Compliance Program Beyond Compliance: Building a Robust Ethics and Compliance Program Overview Risks are increasing and organizations are called to develop effective compliance risk mitigation programs Today, the explosion

More information

HOWARD UNIVERSITY POLICY

HOWARD UNIVERSITY POLICY HOWARD UNIVERSITY POLICY Policy Number: 400-007 Policy Title: CONDUCTING GLOBAL BUSINESS IN COMPLIANCE WITH FOREIGN CORRUPT PRACTICES ACT Responsible Officer: General Counsel and Chief Compliance Officer

More information

FCPA Compliance: An Investigator s Perspective. By Joseph Picarello

FCPA Compliance: An Investigator s Perspective. By Joseph Picarello FCPA Compliance: An Investigator s Perspective By Joseph Picarello Agenda FCPA Overview Background Provisions What s prohibited? / What s permissible? Fines / Other Consequences UK Bribery Act Common Fraud

More information

Anti-corruption compliance program

Anti-corruption compliance program Anti-corruption compliance program Table of contents 1 Introduction...7 2 Ethics Code of Conduct and Anti-corruption...8 3 The Norwegian penal code against corruption...12 4 The U.S. Foreign Corrupt Practices

More information

IFA s 45 th Annual LEGAL SYMPOSIUM

IFA s 45 th Annual LEGAL SYMPOSIUM LEGAL SYMPOSIUM The Foreign Corrupt Practices Act: What Every International Franchisor Must Know Moderator: Speakers: Eric L. Yaffe Gray Plant Mooty Washington, DC Mary C. Spearing Baker Botts L.L.P. Washington,

More information

FOREIGN CORRUPT PRACTICES ACT POLICY

FOREIGN CORRUPT PRACTICES ACT POLICY FOREIGN CORRUPT PRACTICES ACT POLICY Purpose The purpose of this Policy is to ensure compliance from SWOP's employees and representatives with the US Foreign Corrupt Practices Act ("FCPA"). The Lay Person's

More information

quality customer satisfaction leadership integrity people supplier quality customer satisfaction leadership leadership integrity people

quality customer satisfaction leadership integrity people supplier quality customer satisfaction leadership leadership integrity people quality customer satisfaction quality customer satisfaction quality customer satisfaction quality customer satisfaction quality customer quality customer Northrop Grumman is committed to act with INTEGRITY

More information

DRAFT. Anti-Bribery and Anti-Corruption Policy. Introduction. Scope. 1. Definitions

DRAFT. Anti-Bribery and Anti-Corruption Policy. Introduction. Scope. 1. Definitions DRAFT Change History: Anti-Bribery and Anti-Corruption Policy Control Risks Group Ltd Commercial in confidence Introduction This document defines Control Risks policy on the avoidance of bribery and corruption.

More information

Gold Resource Corporation

Gold Resource Corporation Gold Resource Corporation FOREIGN CORRUPT PRACTICES ACT COMPLIANCE POLICY Adopted by the Board of Directors effective December 31, 2011 1.0 Introduction The Foreign Corrupt Practices Act (FCPA) is a United

More information

Park-Ohio Holdings Corp. Foreign Corrupt Practices Act Policy

Park-Ohio Holdings Corp. Foreign Corrupt Practices Act Policy Park-Ohio Holdings Corp. Foreign Corrupt Practices Act Policy I. Policy Park-Ohio Holdings Corp. ( Park Holdings or the Company ) is committed to conducting all operations and activities, including those

More information

The Latest Wave of Securities Enforcement Actions And What To Do About It

The Latest Wave of Securities Enforcement Actions And What To Do About It The Latest Wave of Securities Enforcement Actions And What To Do About It Robert Kent Chicago, IL 6 June 2012 Regulatory and Enforcement Environment Regulatory and Enforcement History Looking Back on a

More information

HILLENBRAND, INC. AND SUBSIDIARIES. Global Anti-Corruption Policy Statement and Compliance Guide

HILLENBRAND, INC. AND SUBSIDIARIES. Global Anti-Corruption Policy Statement and Compliance Guide HILLENBRAND, INC. AND SUBSIDIARIES Global Anti-Corruption Policy Statement and Compliance Guide Hillenbrand, Inc., including all of its subsidiaries (referred to collectively as the Company ), maintains

More information

A Comparison of the U.S. Foreign Corrupt Practices Act and the U.K. Bribery Act

A Comparison of the U.S. Foreign Corrupt Practices Act and the U.K. Bribery Act October 2010 A Comparison of the U.S. Foreign Corrupt Practices Act and the U.K. Bribery Act BY MICHELLE DUNCAN, PALMINA FAVA & SAMANTHA KAKATI Introduction The U.S. is the global leader in enforcing anti-corruption

More information

Foreign Corrupt Practices Act (FCPA)

Foreign Corrupt Practices Act (FCPA) Compliance Guideline Foreign Corrupt Practices Act (FCPA) Dachser GmbH & Co. KG Introduction The purpose of this guideline is to provide employees of DACHSER GmbH & Co. KG ( DACHSER ) involved in international

More information

News Analysis: Facilitating Payments vs. Bribes Under the Tax Law By Charles Gnaedinger -- cgnaedin@tax.org

News Analysis: Facilitating Payments vs. Bribes Under the Tax Law By Charles Gnaedinger -- cgnaedin@tax.org News Analysis: Facilitating Payments vs. Bribes Under the Tax Law By Charles Gnaedinger -- cgnaedin@tax.org Tax Notes, Feb. 18, 2008, p. 787 118 Tax Notes 787 (Feb. 18, 2008) The United States set the

More information

QUESTIONNAIRE Country self- assessment report on implementation and enforcement of G20 commitments on foreign bribery

QUESTIONNAIRE Country self- assessment report on implementation and enforcement of G20 commitments on foreign bribery QUESTIONNAIRE Country self- assessment report on implementation and enforcement of G20 commitments on foreign bribery G20 countries are invited to complete the questionnaire, below, on the implementation

More information

Goodyear s Anti-bribery Policy July 1, 2011

Goodyear s Anti-bribery Policy July 1, 2011 Goodyear s Anti-bribery Policy July 1, 2011 Anti-bribery Policy Goodyear does not wish to obtain business advantages by offering or receiving improper payments or anything of value, even in countries where

More information

FCPA: Handling Increased Global Anti-Corruption Enforcement

FCPA: Handling Increased Global Anti-Corruption Enforcement FCPA: Handling Increased Global Anti-Corruption Enforcement Allison Hoffman, Incisive Media David Krakoff, Mayer Brown LLP Claudius Sokenu, Mayer Brown LLP David Wilkins, The Dow Chemical Company Mayer

More information

Law No 35 of 2002 For Combating Money Laundry Processes

Law No 35 of 2002 For Combating Money Laundry Processes Law No 35 of 2002 For Combating Money Laundry Processes Law No 35 of 2002 For Combating Money Laundry Processes Upon viewing constitution And law no. 15/1960 for issuing law of commercial companies and

More information

The Foreign Corrupt Practices Act: A Primer. Mark Srere Paul Huey-Burns Anita Esslinger May 12, 2011

The Foreign Corrupt Practices Act: A Primer. Mark Srere Paul Huey-Burns Anita Esslinger May 12, 2011 The Foreign Corrupt Practices Act: A Primer Mark Srere Paul Huey-Burns Anita Esslinger May 12, 2011 Today's Presenters Anita Esslinger Paul Huey-Burns Mark Srere 2 Topics of Discussion Relevance Overview

More information

Bank of New York Mellon violates FCPA. The United States Securities and Exchange Commission (SEC) announced in

Bank of New York Mellon violates FCPA. The United States Securities and Exchange Commission (SEC) announced in Bank of New York Mellon violates FCPA The United States Securities and Exchange Commission (SEC) announced in August that Bank of New York Mellon (BNY Mellon) agreed to pay USD 14.8 million (including

More information

MANNING & NAPIER, INC. FOREIGN CORRUPT PRACTICES ACT COMPLIANCE POLICY

MANNING & NAPIER, INC. FOREIGN CORRUPT PRACTICES ACT COMPLIANCE POLICY MANNING & NAPIER, INC. FOREIGN CORRUPT PRACTICES ACT COMPLIANCE POLICY Purpose The purpose of this Foreign Corrupt Practices Act Compliance Policy (this Policy ) is to help ensure compliance by Manning

More information

FOREIGN CORRUPT PRACTICES ACT

FOREIGN CORRUPT PRACTICES ACT FOREIGN CORRUPT PRACTICES ACT FAQs 1. What is the Foreign Corrupt Practices Act (FCPA)? The FCPA is a federal law, enforced by the U.S. Department of Justice, which prohibits payments, gifts, or even offers

More information

Understanding the Reach of U.S. Jurisdiction Under the Foreign Corrupt Practices Act

Understanding the Reach of U.S. Jurisdiction Under the Foreign Corrupt Practices Act Understanding the Reach of U.S. Jurisdiction Under the Foreign Corrupt Practices Act James T. Parkinson and Clancy Galgay Over the past 5 years, many barrels of ink have been spilled describing the sharp

More information

The Foreign Corrupt Practices Act, the Anti-Kickback Statute, and Healthcare Fraud Enforcement. Anti-Bribery Provisions

The Foreign Corrupt Practices Act, the Anti-Kickback Statute, and Healthcare Fraud Enforcement. Anti-Bribery Provisions The Foreign Corrupt Practices Act, the Anti-Kickback Statute, and Healthcare Fraud Enforcement James M. Lord* Martie Ross Charles R Hacker, Jr. Assistant United States Spencer Fane Partner Attorney Britt

More information

Foreign Corrupt Practices Act

Foreign Corrupt Practices Act Foreign Corrupt Practices Act The FCPA and Individual Liability: A Trend or Is It Here To Stay? Carrie J. Di Santo Vice President and Global Chief Compliance Officer James Parkinson Partner Z. Scott Partner

More information

ANTI-BRIBERY AND CORRUPTION POLICY

ANTI-BRIBERY AND CORRUPTION POLICY ANTI-BRIBERY AND CORRUPTION POLICY OBJECTIVES Woodside is committed to conducting its business and activities with integrity. To achieve this objective: Woodside will not engage in corrupt business practices;

More information

Assessing Your Company s Risks of Non-Compliance With the Foreign Corrupt Practices Act: A Practical Guide

Assessing Your Company s Risks of Non-Compliance With the Foreign Corrupt Practices Act: A Practical Guide WHITE PAPER Assessing Your Company s Risks of Non-Compliance With the Foreign Corrupt Practices Act: A Practical Guide By Joseph Howell, Workiva, and Brent Macey, Schnitzer Steel This article originally

More information

Corruption of Foreign Public Officials Act

Corruption of Foreign Public Officials Act www.pwc.com/ca/forensics Corruption of Foreign Public Officials Act PwC Forensic Services February, 2012 Corruption of Foreign Public Officials Act Canada's Corruption of Foreign Public Officials Act (

More information