Lessons From the PTC Enforcement Action: How To Avoid More Grief Around Gifts, Travel & Entertainment Under the FCPA
Sometimes you have to wonder just how long it will take before US companies realize (1) there is a Foreign Corrupt Practices Act (FCPA), and (2) it applies in China — as recently both the Department of Justice (DOJ) and Securities and Exchange Commission (SEC) concluded enforcement actions involving PTC Inc. (PTC), Parametric Technology (Shanghai) Software Co. Ltd. and Parametric Technology (Hong Kong) Limited. PTC was previously known as Parametric Technology Corporation, and the two other companies were wholly owned subsidiaries (collectively the Chinese entities).
