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U.S. Enforcement Agencies Issue Extensive New FCPA Guidance
November 15, 2012
Bruce E. Yannett, Mark P. Goodman, James E. Johnson, Sean Hecker, Andrew M. Levine, Erich O. Grosz, Paul R. Berger, Colby A. Smith, Jonathan R. Tuttle, Philip Rohlik

  • On November 14, 2012, the U.S. Department of Justice and the Securities and Exchange Commission issued A Resource Guide to the U.S. Foreign Corrupt Practices Act, which provides the views of the U.S. enforcement agencies on a wide range of FCPA issues of significant concern to the global business community.
  • The issues addressed by the Resource Guide include the jurisdictional reach of the FCPA; the meaning of “foreign official” and “government instrumentality;” the treatment of business hospitality and gifts; successor liability in mergers and acquisitions; the principles that govern enforcement decisions, including self-reporting, cooperation and remediation; the elements of effective compliance programs; and reporting obligations under the Sarbanes-Oxley Act.
  • Although the Resource Guide is non-binding, prosecutors and regulators likely will rely heavily on it when making decisions regarding the application of the FCPA, and companies should consider its guidance when reviewing and implementing their anti-corruption policies, internal controls and compliance programs.

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