October 2, 2022

Volume XII, Number 275

Advertisement

September 30, 2022

Subscribe to Latest Legal News and Analysis

September 29, 2022

Subscribe to Latest Legal News and Analysis

For Business: World Bank’s Anti-Corruption Ethics and Compliance Resource

An effective anti-corruption program is important for any company covered by Foreign Corrupt Practices Act (“FCPA”), which bars American companies from bribing officials overseas.

The World Bank and its partners have released the “Anti-Corruption Ethics and Compliance Handbook for Business,” billed as a new resource developed by companies, for companies. (Available at http://www.oecd.org/g20/topics/anti-corruption/anti-corruption-ethics-and-compliance-handbook-for-business.htm.) The Handbook attempts to define best anti-corruption practices, identifying 12 recognized “main anti-bribery elements” and illustrating each in practice. To minimize exposure and develop a robust compliance program, the Handbook recommends: (1) establishing a risk assessment process, (2) identifying certain risk factors, (3) rating inherent risks, (4) identifying and rating mitigating efforts, (5) calculating the residual risk, and (6) developing an action plan.

Every organization facing FCPA risk should review the Handbook, as well as public Department of Justice settlement agreements (e.g., Deferred Prosecution Agreements and Non-Prosecution Agreements), DOJ Press Releases, DOJ opinion procedure releases, and A Resource Guide to the U.S. Foreign Corrupt Practices Act, published jointly by DOJ and the Securities and Exchange Commission in November 2012.

The SEC and DOJ, which have obtained hundreds of millions in penalties, promise to continue pursuing violations of the FCPA aggressively against both companies and individuals. The SEC’s Andrew Ceresney, Co-Director of the Division of Enforcement, warned employers in his Keynote Address at the International Conference on the FCPA, “obey the FCPA, and ensure that your employees are sensitive to FCPA issues, or face stiff penalties and other consequences.”

Jackson Lewis P.C. © 2022National Law Review, Volume IV, Number 113
Advertisement
Advertisement
Advertisement
Advertisement

About this Author

Nick Beerman, Employment and Labor Law, Shareholder Jackson Lewis
Shareholder

Nick M. Beermann is a Shareholder in the Seattle, Washington office of Jackson Lewis P.C.  Mr. Beermann practices in all areas of employment and labor law with emphasis in employment contracting and dispute resolution, corporate governance and internal investigations, Sarbanes-Oxley compliance and litigation, trade secret and non-competition advice and litigation, discrimination and harassment advice and litigation, ERISA litigation, OSHA investigations and charge resolution, business entity disputes, WARN advice, wage and hour compliance and...

206-405-0404
James M. Lord, Jackson Lewis Law Firm, White Collar Attorney
Shareholder

James M. Lord is a Shareholder in the Denver office of Jackson Lewis P.C. and is a member of the firm’s White Collar & Government Enforcement and Corporate Governance & Internal Investigations practice groups. Mr. Lord's practice at Jackson Lewis concentrates on white collar criminal defense, False Claims Act and Qui Tam/Whistleblower defense, internal investigations, corporate governance and compliance issues, regulatory training, and asset recovery and repatriation.

303-892-0404
Sarah Walsh, Civil Litigation, Jackson Lewis Law Firm
Associate

Sarah W. Walsh is an Associate in the Boston, Massachusetts, office of Jackson Lewis P.C. Ms. Walsh has experience working on a wide variety of litigation matters, including government investigations, securities litigation, and complex civil litigation.

Ms. Walsh has represented clients facing investigation and enforcement actions undertaken by the US Department of Justice, Securities Exchange Commission, the Massachusetts Attorney General's Office, local District Attorney's Offices, and various other state and federal agencies. She has represented companies,...

617-367-0025
Advertisement
Advertisement
Advertisement