Companies continue to struggle, however, with how corporate policies address FCPA risk. An empirical look at the Codes of Conduct of the Fortune 500 companies provides some answers.
The FCPA requires issuers to maintain adequate books and records and makes it unlawful to offer, promise or pay anything of value to a foreign government official (including employees of state controlled organizations) in order to obtain an improper business advantage. Virtually every CLE program for corporate counsel has at least one panel devoted to FCPA compliance where experts tout the compliance guidance set forth in (1) the US Sentencing Guidelines, (2) Organization for Economic Cooperation and Development guidance,(3) the recently-published UK Bribery Act Adequate Procedures Guidance, and (4) remedial requirements imposed by the Justice Department in deferred and non-prosecution agreements.
