Foreign Corrupt Practices Act Enforcement: Recent Trends and Outlook for the Future

Summary:

FCPA enforcement has been declared a top priority by the U.S. Department of Juctice and the Securities and Exchange Commision. FCPA prosecutions have generated much attention to the need for stringent compliance and due diligence procedures. In this Knowledge Group FCPA webcast, distinguished professionals will help you understand the most critical issues which will include:

- Greater cooperation among regulators and prosecutors from other countries. Several countries have    brought their own corruption charges that are connected to FCPA actions brought by US authorities.
- Greater focus on pursuing individuals.
- Effective corporate compliance procedures.
- Internal investigations conducted by outside counsel and forensic auditors.
- SEC prosecutions using the FCPA’s accounting provisions (false books and records, and failing to    maintain adequate systems of internal controls), without charging violations of the anti-bribery    provisions of the FCPA.
- The legal minefield of doing business with state-owned enterprises given US prosecutors’ claims    that employees of such enterprises are “foreign officials” under the FCPA.

Course Level: Intermediate
Prerequisite: None
Method Of Presentation: Group-Based-Internet
Developer: The Knowledge Group, LLC
Recommended CLE/CPE Hours: 2.0
Important Note: Your State Bar or Accounting Board will make the final determination with respect to continuing education credit. If you are applying for CLE credit in Texas you must register 20 days before the event date or you will not be able to obtain CLE credit.
Advance Preparation: Print and review course materials
Course Code: 103968

- Cooperation Tools: On January 13, 2010, the Division of Enforcement introduced an enhanced cooperation initiative. This includes cooperation agreements, deferred prosecution agreements, and non-prosecution agreements.
- Whistleblower provisions of the Dodd-Frank Wall Street Reform and Consumer Protection Act.
- Approximately 140 companies and/or individuals are currently under investigation for potential FCPA violations, according to Assistant Attorney General Lanny Breuer, Criminal Division, U.S. DOJ (Jan.    19, 2010).
- Increased enforcement activity by U.S. regulators coupled with greater cooperation by foreign authorities:
      - SEC created a new FCPA Unit – February 2010
      - Greater cooperation by foreign authorities
      - BAE Systems (DOJ and SFO – February 5, 2010)
      - Innospec (DOJ, SEC, OFAC, and SFO – March 18, 2010)
      - UK Bribery Bill
      - The U.S. will investigate U.S. and foreign issuers equally, as well as companies operating within U.S. territory
- Rise in sophisticated investigative techniques for FCPA cases
      - FBI Sting Operation – 22 Executives were arrested and 21 search warrants were executed by over 150 FBI Agents and City of London Police Officers
      - First ever large-scale undercover operation utilized in an FCPA investigation
      - 30-month investigation
- Prosecuting senior company executives in their individual capacities will be a priority
- DOJ coordinated sector-wide investigations
      - Medical device, pharmaceutical, military, and law enforcement products and possibly the telecommunications industries
- FCPA due diligence will be a regular feature of mergers and acquisitions and transactional work
- Increased enforcement of other crimes, alongside FCPA violations, is expected, including money-laundering, export controls violations and false accounting
- "Red flags" of FCPA problems are now well-known and should be recognized in a company's compliance program designed to prevent FCPA violations.
- Corporate executives who are asleep at the switch in supervising their direct reports are subject to SEC action as "control persons" for violations of accounting provisions of FCPA.
- FCPA's "Knowing" Standard: violations do not require person to be told directly that a sales agent/business consultant intends to share commissions with a foreign official or is owned by a foreign official.
- High risk of doing business with state-owned enterprises, particularly in China, where employees of such enterprises are often deemed "foreign officials" under the FCPA by US authorities. Lessons learned from work of MWE China Law Offices.

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Who Should Attend?

- International Counsel
- Trade Counsel
- Compliance Officers
- Ethics Officers
- Foreign Subsidiary Directors
- Internal Auditors
- International Contract Managers

Why Attend?

This is a must attend event for anyone interested in understanding Foreign Corrupt Practices Act Enforcement.
- New guidance explained by the most qualified key leaders & experts
- Hear directly from key regulators & thought leaders
- Interact directly with panel during Q&A

Foreign Corrupt Practices Act Enforcement: Recent Trends and Outlook for the Future
LIVE Webcast

Thursday, October 14, 2010

3:00pm to 5:00pm (ET)