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U.S. Enforcement Agencies Issue Extensive New FCPA Guidance
15 November 2012
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
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.
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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