User Beware: The FCPA Resource Guide and its Impact on Global Businesses

Wednesday, June 12, 2013
3:00 – 6:00 p.m.

In the past decade, enforcement of the Foreign Corrupt Practices Act (FCPA) has increased exponentially. The number of FCPA investigations and enforcement actions has ballooned while penalties have skyrocketed, with some companies paying hundreds of millions of dollars in fines, penalties, and investigation costs. The enforcement increase can be credited in part to expansive interpretations of the statute by the Department of Justice (DOJ) and the Securities and Exchange Commission (SEC), which have prevailed in an environment where most investigations result in out-of-court settlements without judicial review.

In an effort to contain the nearly boundless risks posed by the statute, global compliance counsel and industry representatives have sought significant statutory reforms. In 2011 the government responded to these demands by promising to publish guidance clarifying the government’s position on the statue and its application to foreign business transactions. The government finally released the long-awaited guidance in late 2012 in the form of a 130-page document (the “Resource Guide”) that purports to clarify its enforcement principles on a number of issues ranging from business hospitality to successor liability, government jurisdiction over foreign subsidiaries and agents, and the characteristics of a sound compliance program.

This panel discussion will review and analyze the Resource Guide. Through a series of questions and hypotheticals, the panelists will discuss the strengths and weaknesses of the Resource Guide and address strategies for minimizing the risks of participating in the global marketplace in light of its pronouncements.

Note: CLE credit is applied for and pending and parking validation will be provided for attendees.