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Weekly Industry News – Anti-Corruption / FCPA & International Trade

September 17th, 2014
in Anti-Corruption / FCPA, International Trade & Defense, Legal Conferences |

Giving a bribe into a pocket

Anti-Corruption/ FCPA and International Trade – China’s anti-corruption drive, Napthine Government’s decision and more.

(more…)

Anti-Corruption Compliance Risk in Argentina

September 17th, 2014
in Anti-Corruption / FCPA, Expert Guest Blog Entries, Legal Conferences |

Expert article by Pedro Serrano Espelta and Gustavo Luis Morales Oliver. Originally published on marval.com.ar in June 2013. Republished with the permission of Pedro Serrano Espelta.

Brazil enacted Law No. 12,489 which sanctions acts of corporate corruption occurring abroad. This new law follows the trend of the US FCPA, the UK Bribery Act, and other foreign regulations. Therefore, companies doing business in Argentina and having specific connections with certain foreign jurisdictions may be exposed to sanctions under broad local and foreign anti-corruption regulation. Such risk should be addressed by strong compliance programs.

Corporate / M&A

Last August Brazil enacted Law No. 12,846, a new anti-corruption regulation that includes sanctions –among others– to corrupt corporate acts occurring abroad, following the trend of the US FCPA, the UK Bribery Act, and other foreign regulations. This new Brazilian law, which will enter in force in January 28, 2014 and has not yet been regulated by the Executive Branch, sets forth strict liability for companies breaching its provisions. Companies doing business in Argentina and having specific connections, for instance, with Brazil, the US or the UK may be exposed to sanctions under such foreign anti-corruption regulation. Additionally, corrupt acts taking place in Argentina will be subject to Argentine anti-corruption regulation including international conventions. Recent anti-corruption violations in Argentina, for instance, generated fines abroad for Ralph Lauren in excess of US$ 1.5 million. Other companies have suffered higher and lower fines but in all cases the existence of an appropriate compliance program has been most relevant in the final calculations of the fines. This is why companies that are subject to investigation or that have already been sanctioned strongly embed their compliance programs in their daily business operations. Indeed, the new Brazilian law specifically sets forth that the existence of a compliance program will be considered when imposing sanctions. Considering that increasing government intervention forces companies to deal with public officials in every step of their businesses, internal anti-corruption compliance programs are the most effective tool for appropriately addressing compliance risks in Argentina, both under local and foreign anti-corruption regulation. According to applicable regulation, guidelines and precedents, such programs need to meet the international standards and be appropriately adjusted to the Argentine legal and cultural environment (a classic mistake is failure to make such adjustment), involving the appropriate drafting of Compliance Codes, the design and implementation of policies that pre-establish how to proceed in every relevant case, training to employees and, in some cases, training and due diligence of third party contractors.

 

Pedro will speak at ACI’s Inaugural Miami Anti-Corruption Boot Camp, October 15-16, 2014:

What’s Happening in the LATAM Region? Detecting Recent Corruption Schemes in Brazil, Venezuela, Colombia, Argentina, and Mexico

To learn more about the event click on the image below:

Anti-Corruption Boot CampAnti-Corruption Boot Camp Miami

View all upcoming Anti-Corruption/FCPA events around the world, click here.

Argentine Authorities React to a New FCPA Case

September 12th, 2014
in Anti-Corruption / FCPA, Legal Conferences, Litigation, Regulatory & Compliance |

Expert article by Pedro Serrano Espelta and Gustavo Luis Morales Oliver. Originally published on marval.com.ar in June 2013. Republished with the permission of Pedro Serrano Espelta.

The suspension of the tax ID number is a new element in anti-corruption cases in Argentina and by itself could send a company out of business since a company would be incapable of issuing invoices and making filings with the tax authorities. (more…)

Xi’s war on corruption spreads to China’s executive MBAs

September 11th, 2014
in Anti-Corruption / FCPA, China & Singapore, Legal Conferences |

By Lifen Zhang in Beijing, Article published on The Financial Times

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My view: FCPA compliance programs help mitigate risk in Latin America

September 5th, 2014
in Anti-Corruption / FCPA, Expert Guest Blog Entries, Legal Conferences |

Expert Guest Entry by Matthew Feeley, Originally Published on Miami Herald.

Matthew FeeleyRecently, as the World Cup captured the attention of sports fans around the world, host country Brazil was also busy receiving interest from companies seeking opportunities there. Before a U.S. company sets up shop in that or any other Latin American country, it must first establish a compliance program to avoid running afoul of the Foreign Corrupt Practices Act, or FCPA. (more…)

Weekly Industry News – Anti-Corruption / FCPA & International Trade

September 3rd, 2014
in Anti-Corruption / FCPA, International Trade & Defense, Legal Conferences |

Giving a bribe into a pocket

Anti-Corruption/ FCPA and International Trade –  how due diligence plays a role in anti-corruption compliance, Indonesia’s energy minister made suspect in graft case  and more.

(more…)

Weekly Industry News – Anti-Corruption / FCPA & International Trade

August 27th, 2014
in Anti-Corruption / FCPA, China & Singapore, Legal Conferences |

Giving a bribe into a pocket

Anti-Corruption/ FCPA and International Trade –  Qualcomm may face EU antitrust probe, anti-corruption campaign in China and more.

(more…)

Weekly Industry News – Anti-Corruption / FCPA & International Trade

August 20th, 2014
in Anti-Corruption / FCPA, China & Singapore, International Trade & Defense, Legal Conferences |

Giving a bribe into a pocket

Anti-Corruption/ FCPA and International Trade – China corruption blotter, the value of due diligence certifications and more.

(more…)

Bribery & Deterrence: A Tale of Two Sentences

August 19th, 2014
in Anti-Corruption / FCPA, Legal Conferences |

Expert Guest Entry by Richard Bistrong , Originally Published on http://www.richardbistrong.com/ 

In an August 11, 2014  article (www.thebirberyact.com) “Supersize me: Innospec 4 sentencing remarks do much more than they say on the tin,” Barry Vitou &
 Richard Kovalevsky (“The Authors”) do a great service by elevating the remarks of Judge Andrew Goymer at the August 4, 2014 sentencing hearing of the four Innospec defendants.* Inasmuch as the sentencing of individuals is an integral component of deterring others from engaging in corrupt behavior, it is important to focus not only on the sentences, but on the statements by sentencing Judges which accompany the pronouncements of months and years. The Authors did just that, and from my perspective, those judicial declarations, combined with the actual sentences, are what collectively form the messages being sent to business entities and their executives, including those who work and operate on the international front lines.

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Richard Bistrong

August 14th, 2014
in Anti-Corruption / FCPA, Regulatory & Compliance |

Bistrong

Richard Bistrong spent much of his career as an international sales executive and currently blogs and speaks on FCPA, compliance and anti-bribery issues from that front line perspective at www.richardbistrong.com. Richard was the Vice President of International Sales for a large, publicly traded manufacturer of police and military equipment, which included residing and working in the UK. Prior to that, he was the Executive Vice President (and founding family member) for one of the largest global manufacturers of bullet resistant armor for the police and military markets.

(more…)

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