Foreign Corrupt Practices Act in Latin America

Description

As U.S. companies move more aggressively into Latin America markets, they quickly learn bribery is often seen as a normal part of business. However, operating with a “when in Rome” mentality can easily lead to violations of the Foreign Corrupt Practices Act (FCPA) — and associated sanctions.

The Securities Exchange Commission and the U.S. Department of Justice have ramped up scrutiny of U.S. companies' dealings with overseas officials. A number of FCPA enforcement actions have recently been focused on U.S. business conduct in Brazil, Costa Rica, Argentina, Venezuela, Mexico and Ecuador.

Companies with a Latin American business presence and their counsel must review their FCPA compliance programs now to ensure strict compliance.

Listen as our authoritative panel of FCPA attorneys reviews the risks factors of FCPA violations in Latin America, lessons learned from recent enforcement action, and best practices for mitigating the risk of FCPA violations.

Outline

1. Risk factors of doing business in Latin America
   1. Latin American business culture/practices
   2. Broad definition of foreign official
   3. Cooperation between U.S. companies and Latin American countries when conducting due diligence
   4. Exposure to third party you may not control
   5. Regional anti-bribery laws
   6. Reach of the FCPA
2. Lessons learned from recent enforcement
3. Best practices for mitigating risk (how to compete effectively while complying with the FCPA)
   1. Monitoring
   2. Compliance program — anti-bribery and accounting provisions
   3. Internal controls
   4. Education/training adapted to local conditions
   5. Due diligence — all third parties
   6. Steps if misconduct is suspected

Benefits

The panel will review these and other key questions:

• What risk factors make companies conducting business in Latin America more 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 aimed at companies doing business in Latin American countries?
• What are the best practices to develop and implement effective anti-corruption compliance programs and due diligence efforts?

CLE Credit

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