In-house counsel contribute to FCPA guidelines

The Department of Justice (DOJ) and the Securities Exchange Commission (SEC) issued guidance last week for legal departments managing the complexities of the Foreign Corrupt Practices Act (FCPA), but not before hearing from in-house counsel.

In May, 19 inside counsel and officials from the DOJ and SEC met to discuss what in-house counsel need in the guidelines. The Association of Corporate Counsel (ACC) organized that meeting. Some of the questions raised included whether taking foreign officials out for drinks or making small payments to foreign officials constituted a violation of the FCPA.

Although when writing the guidance, the DOJ and SEC recrafted some of the scenarios raised in the meeting, for the most part, the lawyers' concerns were reflected in the guidelines, Amar Sarwal, chief legal strategist for the ACC, told Thomson Reuters.