Robert Kennedy, the Travel Act, and the FCPA
FCPA Compliance Attorney Thomas Fox discusses how the Travel Act, which Robert Kennedy urged Congress to enact, is impacting the Foreign Corrupt Practices Act today.
FCPA Compliance Attorney Thomas Fox discusses how the Travel Act, which Robert Kennedy urged Congress to enact, is impacting the Foreign Corrupt Practices Act today.
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 Thomas Fox, FCPA Compliance Attorney and Consultant
U.S. companies have long utilized foreign business partner relationships to leverage their global reach and assist in the growth and development of overseas business relationships. When a U.S. company enters into this type of business relationship, it enables the company to expand their commercial reach in a cost effective manner. One key component of this foreign business relationship is that the U.S. company must manage compliance by the foreign business partner under the Foreign Corrupt Practices Act (FCPA).
by Thomas Fox — FCPA Compliance and Risk Management Attorney and Consultant
The application of the Foreign Corrupt Practices Act (FCPA) to gifts and business entertainment expenditures to foreign officials is an area open to vagueness. There are no clear guidelines in the FCPA itself or the legislative history. While prohibiting payment of any money or thing of value to foreign officials to obtain or retain business, the FCPA arguably permits incurring certain expenses on behalf of these same officials. The presentation of a gift or business entertainment expense, however, can constitute a violation of the FCPA if this is coupled with the corrupt intent to obtain or retain business.
