Foreign Corrupt Practices Act in India
Compliance Strategies for India's Unique Cultural and Governmental Intricacies
Recording of a 90-minute CLE teleconference with Q&A
Conducted on Wednesday, May 21, 2008
Recorded event now available
Description
The number of U.S. companies that conduct business in and with India has escalated dramatically in the past several years. This rapid growth leaves the companies and their employees vulnerable to violations of the Foreign Corrupt Practices Act (FCPA).
The SEC and the DOJ have strengthened their FCPA anti-corruption enforcement efforts and are focusing more intensely on U.S. companies' interactions with overseas officials.
The government's heightened scrutiny demands that companies and their counsel immediately plan and implement a comprehensive FCPA compliance program tailored to doing business with India.
Listen as our authoritative panel discusses the risks of doing business in India that may trigger FCPA violations, working with Indian governmental agencies, and best practices for mitigating the risk of FCPA violations.
Outline
- Risk factors of doing business in India
- Indian business culture/practices
- Defining a bribe
- Exposure to third party you may not control
- Reach of the FCPA in India
- Working with the Indian government
- Obtaining government licenses, permits and certifications
- Transparency in public procurement transactions
- FCPA affirmative defense to prohibition of payment that was lawful under rules/regulations of the country
- Indian enforcement directorate
- Best practices for mitigating risk
- Monitoring
- Compliance program — anti-bribery and accounting provisions
- Internal controls
- Education/training adapted to local conditions
- Due diligence — all third parties
- Steps if misconduct is suspected
Benefits
The panel reviewed these and other key questions:
- What are the risk factors that make companies conducting business in India vulnerable to possible FCPA violations?
- What types of conduct have triggered SEC and DOJ investigations into potential FCPA violations?
- What lessons can be learned from recent SEC and DOJ enforcement efforts affecting companies doing business in or with India?
- What are the best practices for companies to utilize in developing anti-corruption compliance programs and due diligence efforts?
Faculty
Kyle A. Wombolt,
Partner
Goodwin Procter, Central, Hong Kong
He conducts regulatory and internal investigations involving matters related to federal securities laws and the FCPA. He advises on the propriety of transactions and disclosure under the FCPA. He conducts internal investigations in over 20 countries, including China, and counsels on corporate governance and internal control issues for compliance under the Sarbanes-Oxley Act and the FCPA.
Claudius O. Sokenu,
Partner
Mayer Brown, New York
He co-heads the firm's Securities Enforcement Practice Group and the Foreign Corrupt Practices Act (FCPA) Practice Group. He focuses on litigation, securities enforcement, and internal investigations. While at the SEC, he was responsible for handling the commission’s enforcement matters, including investigations involving fraud, insider trading, and illicit payments under the FCPA.
Lucinda A. Low,
Partner
Steptoe & Johnson, Washington, D.C.
She focuses on anti-corruption laws and assisting U.S. and foreign companies with compliance with international business laws and regulations. She is a recognized authority in the FCPA. Her FCPA practice includes internal compliance program development and implementation; benchmarking and auditing programs for best practices and effectiveness; and management and employee training.
Ordering
Recorded Event
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Customer Reviews
The three presentations created a balanced approach.
Cris Navarro
Enloe Medical Center
Very timely. I also liked the references to current and recent suits.
John Devlin
Lane Powell
All of the speakers had a wide range of knowledge.
Kimberly Hayes
General Mills
The presentations provided great insight.
Josh WInslow
Pabian & Russell
The speakers were tops in their industry.
Peter Danias
Kaye Scholer
International Law Advisory Board
Partner
K&L Gates
Partner
Gibson Dunn & Crutcher
Partner
O’Melveny & Myers
Partner
WilmerHale
Partner
Goodwin Procter