FCPA Enforcement

Extracted 20OCT2011 from http://www.thecorporatecounsel.net/nonMember/InsideTrack/2011/10_26_Kaplan.htm

In this podcast, Jeff [Kaplan] explains the latest developments in the anti-corruption area including the results of a benchmarking study conducted with the FCPA Blog...

See also http://www.fcpablog.com/blog/2011/10/12/the-anti-corruption-compliance-benchm... and http://ethics360.com/benchmark.php

More than 100 companies took part in the survey and the results should, we believe, prove helpful to many organizations seeking to assess or improve their programs.  A sampling of data includes the following:

  • One third of respondents utilize a stand-alone, documented risk assessment process dedicated solely or largely to Anti-Corruption risk.
  • Forty-three percent require some third-party intermediaries (“TPIs”) to certify periodically that they are in compliance with Anti-Corruption laws; 27% do so for all TPIs.
  • More than half have formal standards for monitoring compliance by TPIs - such as requirements that, on an ongoing basis, business personnel review TPIs’ invoices to ensure that they do not suggest violations of Anti-Corruption laws.
  • About two thirds have formal Anti-Corruption compliance integration procedures of acquisitions and joint ventures.
  • Only 4% have not designated a senior company official to oversee the Anti-Corruption compliance program.
  • Three out of every eight companies conduct stand-alone Anti-Corruption audits.