Russia's Amended Anti-Bribery Law: Extended Statute of Limitations, Greater Penalties and More

Description

Due to the perceived endemic nature of corruption in Russia, conducting business in Russia presents complex challenges for counsel to U.S. and multinational companies, executives, and employees in complying with the FCPA, who will undoubtedly face the challenges of complying with applicable anti-corruption laws, including the FCPA, the U.K. Bribery Act, laws enacted by member states of the Organization for Economic Cooperation and Development, and the amended Russian law on countering corruption.

The amended Russian law now not only includes greater penalties (including longer prison terms) and extended statutes of limitations, but also requires all organizations operating in Russia to develop, implement, and undertake affirmative measures to prevent corruption. This goes further than the FCPA and the UK Bribery Act and perhaps signals a more expansive approach to anti-corruption enforcement in Russia than in the past.

The recent sanctions against Russia by the U.S. and other countries have added to the complexity of doing business in Russia, and U.S. and multinational companies operating in Russia are well advised to develop, implement, and maintain robust anti-corruption policies and procedures.

Listen as our authoritative panel discusses the risks of doing business in Russia and conduct that may trigger FCPA and anti-corruption violations, as well as violations under the amended Russian laws. The panel will examine the impact of Russia becoming a signatory to the OECD Anti-Bribery Convention and the interplay between the FCPA and Russian anti-corruption laws and enforcement. The panel will offer best practices for mitigating the risk of violations.