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April 24, 2014

SEC and DOJ Release Foreign Corrupt Practices Act (FCPA) Guidance

On November 14, 2012, the Department of Justice and the SEC issued long-awaited guidance on the Foreign Corrupt Practices Act (“FCPA”).  The 120-page document was heralded by the DOJ as an “unprecedented undertaking,” although both agencies stressed that it does not represent a change in existing FCPA policy.  The guidance addresses a number of issues, including definitions of “foreign official” and “instrumentality,” successor liability in mergers and acquisitions, and de minimis payments.  The guidance also provides suggestions on effective compliance programs and significant factors the agencies consider in the determination of whether to pursue enforcement actions against companies.

A copy of the guidance is available here.

© 2014 Schiff Hardin LLP

About the Author

With long-standing expertise in the federal securities laws, Schiff Hardin provides public companies across the United States with the full range of services necessary to compete effectively in today's global and dynamic marketplace. Our primary goal is to know our clients, learn their businesses and their industries, and work closely with them to quickly, effectively and efficiently address the many legal, regulatory, and other challenges that public companies face.

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