FCPA Compliance: Meeting Requirements under the FCPA and other Financial Crimes and Minimizing Liability Risks

This CLE course will provide guidance on the Foreign Corrupt Practices Act (FCPA), both for complying with the FCPA and understanding similar risks related to other financial crimes such as economic sanctions. Using recent enforcement actions as a guide, the panel will cover requirements and best practices related to gifts and hospitality, books and records, screening and other due diligence, and responding to violations.

While enforcement under the FCPA has slowed, at least for now, it is still the case that companies conducting business internationally need to recognize compliance risks under the FCPA and other anti-corruption laws. The risks also extend to other financial crimes, such as those under economic sanctions and anti-money laundering (AML) regulations.

The challenges abound. The handling of gifts and hospitality to government representatives requires careful analysis of whether a gift is a lawful expression consistent with a country's culture or one that constitutes bribery. 

Additionally, the Trump administration has raised the stakes for companies operating in locations in which drug cartels and other sanctioned transnational criminal organizations (TCO) operate. Any payment to a representative of a TCO or another sanctioned party can create liability. 

Risks only grow when acting through local agents and other third-party representatives, who are common – or even a legal requirement – in many part of the world. 

Meanwhile, the accounting, recordkeeping, and internal control requirements under the FCPA mean that companies subject to SEC jurisdiction must maintain accurate and detailed books and records. SEC reporting requirements have also expanded with the growth in designations of TCOs; under section 13(r) of the Securities Act, dealings with TCOs and other designated parties must be reported to the SEC. Failure to comply can result in significant fines and penalties.

Please join what should be a lively panel to examine the FCPA and other financial criminal laws. Beginning with an overview of key legal regimes, our panelists will do a deep dive into recent enforcement actions and the most challenging compliance issues that companies face. The panel will then offer suggestions as to best practices to promote successful compliance and commercial outcomes.