Foreign Corrupt Practices Act

The Department of Justice has increased its enforcement of the FCPA in recent years, calling it one of its top priorities for investigations and prosecutions. The SEC scrutinizes U.S. companies' dealings with overseas officials and is sharpening its enforcement efforts as well.

Criminal penalties for violations of the FCPA against companies and corporate officials have risen dramatically. Heightened government attention requires that companies have and implement a comprehensive FCPA compliance program.

Listen as our panel provides an overview of FCPA obligations and examines FCPA requirements in Part 1. In Part 2, the panel will provide insights into establishing policies and programs to ensure compliance either to reduce the risk of litigation or to mitigate damages.

The panel included:

F. Joseph Warin, Partner, Gibson Dunn & Crutcher, Washington, D.C. His areas of expertise include securities enforcement — including FCPA investigations and compliance counseling. He has handled FCPA investigations in many countries and voluntary disclosure matters.

Kyle A. Wombolt, Partner, Goodwin Procter, Palo Alto, Calif. He focuses on the FCPA and federal and state securities laws. He conducts internal investigations for multi-national clients related to potential FCPA and securities laws violations.

Richard W. Grime, Partner, O'Melveny & Myers, Washington, D.C. He represents clients on securities enforcement, regulatory, and compliance matters, including the Foreign Corrupt Practices Act. While at the SEC, he served in the commission’s FCPA Program.

Kimberly A. Parker, Partner, WilmerHale, Washington, D.C. She regularly counsels clients on how to develop effective FCPA compliance programs, how to avoid potential FCPA problems, and how to address FCPA problems when they arise. She also represent clients in internal investigations throughout the world. She co-authored the leading treatise in the field, Complying with the Foreign Corrupt Practices Act.

Greta Lichtenbaum, Partner, O'Melveny & Myers, Washington, D.C. She represents and advises clients in matters related to U.S. economic sanctions, export controls, antiboycott, foreign investment, the FCPA, customs, and trade laws and agreements. She assists clients to develop corporate compliance programs, conducts internal investigations relating to potential violations of these laws.

The panel reviewed these and other key questions:

• Who and what kinds of activities — including unexpected danger zones — are covered by the FCPA?
• What FCPA potential liabilities and adverse consequences face companies operating in a global marketplace?
• What types of conduct have prompted investigations by the SEC and DOJ — and by foreign regulatory authorities?
• What lessons can be learned from recent SEC and DOJ anti-corruption enforcement actions?
• What are the best practices for companies to utilize in developing anti-corruption compliance programs and due diligence efforts?

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