Foreign Corrupt Practices Act Enforcement: Recent Trends and Outlook for the Future

Broadcast Date: Thursday, October 14, 2010 from 3:00 pm to 5:00 pm (ET)

Overview:

FCPA enforcement has been declared a top priority by the U.S. Department of Juctice and the Securities and Exchange Commision. FCPA prosecutions have generated much attention to the need for stringent compliance and due diligence procedures. In this Knowledge Group FCPA webcast, distinguished professionals will help you understand the most critical issues which will include:

- Greater cooperation among regulators and prosecutors from other countries. Several countries have    brought their own corruption charges that are connected to FCPA actions brought by US authorities.
- Greater focus on pursuing individuals.
- Effective corporate compliance procedures.
- Internal investigations conducted by outside counsel and forensic auditors.
- SEC prosecutions using the FCPA’s accounting provisions (false books and records, and failing to    maintain adequate systems of internal controls), without charging violations of the anti-bribery    provisions of the FCPA.
- The legal minefield of doing business with state-owned enterprises given US prosecutors’ claims    that employees of such enterprises are “foreign officials” under the FCPA.

Agenda:

SEGMENT 1: Charles E. Cain, Assistant Director, Division of Enforcement, United States Securities and Exchange Commission - Cooperation Tools: On January 13, 2010, the Division of Enforcement introduced an enhanced cooperation initiative. This includes cooperation agreements, deferred prosecution agreements, and non-prosecution agreements. - Whistleblower provisions of the Dodd-Frank Wall Street Reform and Consumer Protection Act.SEGMENT 2: Eugene Goldman, Partner, McDermott Will & Emery LLP - "Red flags" of FCPA problems are now well-known and should be recognized in a company's compliance program designed to prevent FCPA violations. - Corporate executives who are asleep at the switch in supervising their direct reports are subject to SEC action as "control persons" for violations of accounting provisions of FCPA. - FCPA's "Knowing" Standard: violations do not require person to be told directly that a sales agent/business consultant intends to share commissions with a foreign official or is owned by a foreign official. - High risk of doing business with state-owned enterprises, particularly in China, where employees of such enterprises are often deemed "foreign officials" under the FCPA by US authorities. Lessons learned from work of MWE China Law Offices.SEGMENT 3: Phillip Desing, Managing Director, Forensic Practice, KPMG LLP - Approximately 140 companies and/or individuals are currently under investigation for potential FCPA violations, according to Assistant Attorney General Lanny Breuer, Criminal Division, U.S. DOJ (Jan. 19, 2010). - Increased enforcement activity by U.S. regulators coupled with greater cooperation by foreign authorities: - SEC created a new FCPA Unit

Who Should Attend:

- International Counsel
- Trade Counsel
- Compliance Officers
- Ethics Officers
- Foreign Subsidiary Directors
- Internal Auditors
- International Contract Managers