Free Webinar:
Foreign Corrupt Practices Act: What You Need to Know
You’ve certainly heard of bribes and corruption occurring in the business of international trade, but do you really know the definition of bribery or in how many forms it can come?
The Foreign Corrupt Practices Act (FCPA) was enacted in the United States in 1977 in response to widespread bribery of foreign officials by U.S. companies. Beyond bribery, it also sets guidelines for what appropriate recordkeeping and accounting practices, as well as guidelines for maintaining strong internal controls and compliance.
The U.S. Securities and Exchange Commission (SEC) and the U.S. Department of Justice (DOJ) both have enforcement jurisdiction for the FCPA, and they take this job pretty seriously. From 1977 to present, people who have criminally violated the FCPA have been sentenced to an average of 29 months in prison, and the severity of punishment is on the rise. The largest fine doled out by DOJ was more than $2.6 billion dollars in 2016.What You'll Learn
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Who the FCPA applies to and when.
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The definition of bribery.
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Biggest everyday risks for FCPA violations.
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Recommended best practices.
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Penalties and mitigating factors.
Who Should Attend
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C-suite executives for U.S. companies or subsidiaries.
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Companies seeking to conduct business in the U.S.
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Compliance managers.
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Accounting staff.
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International sales personnel.
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