Bribery and Corruption Toolkit

Resources to assist in-house counsel in complying with anti-bribery and corruption laws and regulations, including the Foreign Corrupt Practices Act (FCPA).

Practical Law Commercial Transactions

Anti-corruption compliance has become an increasingly important area of risk management for companies transacting business internationally. In the US, the Department of Justice ( www.practicallaw.com/9-382-3397) (DOJ) and the Securities and Exchange Commission ( www.practicallaw.com/9-382-3806) (SEC) are the dual enforcers of the Foreign Corrupt Practices Act of 1977 ( www.practicallaw.com/6-501-6309) (FCPA), the principal federal anti-corruption law. The DOJ and SEC have identified FCPA enforcement as a priority. This prioritization is reflected in:

  • The high volume of FCPA enforcement actions the DOJ and SEC have recently brought.

  • The DOJ's 2016 FCPA enforcement pilot program, which allows companies to self-report FCPA violations to the agency in order to receive mitigation credits.

  • The release by the DOJ and SEC of specific FCPA guidance in November 2012.

In this climate of ever-increasing FCPA enforcement activity, corporate counsel should examine their company's FCPA compliance program to ensure that it:

  • Includes a policy or code of business ethics detailing procedures, standards, and guidance for transacting business in foreign countries.

  • Educates employees regarding FCPA compliance.

  • Mandates keeping accurate and complete records of all payments and expenses.

  • Addresses how to maintain proper internal accounting controls.

  • Outlines appropriate due diligence ( www.practicallaw.com/1-382-3424) mechanisms.

  • Sets up systems to detect and investigate potential FCPA violations.

  • Develops anonymous whistleblowing mechanisms to encourage internal reporting of violations.

Companies must understand the potential legal risks associated with doing business in foreign countries within the context of the FCPA and take steps to implement and update their compliance programs.

The Bribery and Corruption Toolkit provides several continuously maintained resources designed to help in-house counsel understand the FCPA and implement an effective FCPA compliance program.

For more resources on other US laws governing international business transactions, see International Trade Toolkit ( www.practicallaw.com/0-555-4486) .

 

Practice Notes

 

Standard Documents and Clauses

 

Checklists

 

Articles

 

Country Q&A

 

Cross-border Resources

 
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