Some of the statements regarding corruption that came out of the G-20 Summit were positive, but the question remains of just how strong the commitment will be when the going gets tough and push comes to shove.
Last week in Cameroon, the U.S. Department of Justice and Cameroonian Ministry of Justice co-sponsored the Second Africa Regional Anti-Corruption Seminar.
Wendy Wysong and her co-authors from Clifford Chance describe what can happen if a company does not have strong anti-bribery controls, because it probably also lacks strong systems and procedures to address export compliance as well.
Manny Alas and Michael Skrief of PwC tackle the following: with several high-profile anti-bribery cases from 2009 now behind us, how have global corporations moved to stay ahead of this issue?
The American Conference Institute is holding an event called “FCPA and Anti-Corruption for Life Science Companies” from Monday, May 18th through Tuesday, May 19th at the Helmsley Park Lane Hotel in New York, NY.
A survey by Dow Jones has found that more than half of companies are delaying or abandoning key business initiatives as executives struggle to both interpret a patch-work of anti-corruption regulations and collect the information they need to confidently assess corruption risk.
Blackwater (and its executives) could be in some murky FCPA water in connection with alleged secret payments to Iraqi officials. Also, Garth Peterson was fired by Morgan Stanley last December over concerns that he may have violated the FCPA.
by Thomas Fox, FCPA Compliance Attorney
In order to assess any risk a company must have a framework in place to begin this analysis. The benefits of a risk-based compliance system are clear. To make this risk-based determination, a company must institute a structure to make an appropriate assessment.
By Daniel Levin – Partner at White & Case in Washington, DC
Companies lacking an anti-corruption compliance program face great legal, financial, and reputational risks. Government investigators will have no sympathy for those who fail to devote sufficient resources to compliance. Indeed, enforcement officials would certainly take the opportunity to make an example of companies that cut compliance resources in response to the financial crisis. Moreover, the trend towards prosecuting individuals—in addition to or rather than the company—is also likely to continue. But FCPA vigilance, like other forms of corporate compliance, need not break the bank in a time of budget constraints and cost controls.
The solution begins with a risk-based compliance assessment.
Ethical Corp is holding a conference next month in Brussels that will focus on anti-corruption law and enforcement in Europe. CCI readers are being offered a discount on registration for the conference, which will examine future trends in anti-corruption.
