Canadian Forum on

Bribery and Foreign Corruption – Compliance and Enforcement

Minimizing the Risk of Improper Payments to Foreign Officials in an Era of Increased International Enforcement

Monday, March 31, 2008

About

An anti-corruption enforcement explosion is reaching across industries and around the globe. In the last few months, there has been an increase in the number of high profile enforcement actions, harsher penalties for both individuals and corporate offenders, and active cooperation among enforcement officials in various countries. Investigations in Europe and Latin America have led to investigations in the United States and Asia, and Canadian companies can no longer assume a Canadian safe haven.

US regulators are prosecuting companies engaged in corrupt practices simply because they are listed on a US exchange. This includes any interlisted Canadian corporation. Repercussions of an FCPA violation could include substantial fines, including disgorgement of profits, debarment from government contracting, delisting from exchanges, court appointed monitoring, civil lawsuits and imprisonment. Canadian companies can also be held responsible for corrupt practices engaged by their business partners, foreign subsidiaries and even local distributors.

With record-setting sanctions involving well-known companies, Canadian companies must now reassess their own anti-corruption measures to prevent lapses that might lead to damaging and costly enforcement actions. Having an effective and comprehensive corporate anti-corruption compliance policy in place will demonstrate to employees and, if necessary, law enforcement officials that your company considers anti corruption compliance an important corporate goal.

If done properly, a comprehensive compliance program can become a valuable corporate asset that enhances company operations, facilitates compliance with the law and mitigates damage when and if violations occur.

This publication from the “Canadian Forum on Bribery and Foreign Corruption – Compliance and Enforcement”, by the American Conference Institute and The Canadian Institute includes an exceptional faculty of seasoned corporate ethics and compliance executives, attorneys and government officials, who provide the latest information on:

  • Resources, tools and techniques leading companies are using to implement and maintain value-based anti-corruption compliance programs
  • How senior management can credibly instill a compliance ethic
  • How to balance the need for internal controls with the expectations of customers in their target markets
  • What to do when your company is proceeding in the face of a known risk involving a commercial intermediary
  • Determining when family or business relationships with foreign officials are too close
  • Risks and concerns when the joint-venture partner is a governmental entity

Contents & Contributors

About

An anti-corruption enforcement explosion is reaching across industries and around the globe. In the last few months, there has been an increase in the number of high profile enforcement actions, harsher penalties for both individuals and corporate offenders, and active cooperation among enforcement officials in various countries. Investigations in Europe and Latin America have led to investigations in the United States and Asia, and Canadian companies can no longer assume a Canadian safe haven.

US regulators are prosecuting companies engaged in corrupt practices simply because they are listed on a US exchange. This includes any interlisted Canadian corporation. Repercussions of an FCPA violation could include substantial fines, including disgorgement of profits, debarment from government contracting, delisting from exchanges, court appointed monitoring, civil lawsuits and imprisonment. Canadian companies can also be held responsible for corrupt practices engaged by their business partners, foreign subsidiaries and even local distributors.

With record-setting sanctions involving well-known companies, Canadian companies must now reassess their own anti-corruption measures to prevent lapses that might lead to damaging and costly enforcement actions. Having an effective and comprehensive corporate anti-corruption compliance policy in place will demonstrate to employees and, if necessary, law enforcement officials that your company considers anti corruption compliance an important corporate goal.

If done properly, a comprehensive compliance program can become a valuable corporate asset that enhances company operations, facilitates compliance with the law and mitigates damage when and if violations occur.

This publication from the “Canadian Forum on Bribery and Foreign Corruption – Compliance and Enforcement”, by the American Conference Institute and The Canadian Institute includes an exceptional faculty of seasoned corporate ethics and compliance executives, attorneys and government officials, who provide the latest information on:

  • Resources, tools and techniques leading companies are using to implement and maintain value-based anti-corruption compliance programs
  • How senior management can credibly instill a compliance ethic
  • How to balance the need for internal controls with the expectations of customers in their target markets
  • What to do when your company is proceeding in the face of a known risk involving a commercial intermediary
  • Determining when family or business relationships with foreign officials are too close
  • Risks and concerns when the joint-venture partner is a governmental entity

Contents & Contributors

ANTI-CORRUPTION ENFORCEMENT AROUND THE WORLD: TRENDS AND THE EFFECTS OF INTERNATIONAL STANDARTS
Lucinda A. Low, Steptoe & Johnson LLP (Washington, DC)

MINIMIZING THE RISK OF THIRD PARTY LIABILITY
Riyaz Dattu, Osler, Hoskin & Harcourt LLP (Toronto, ON) USING LOCAL CONSULTANTS IN FOREIGN LANDS
Tim Martin, Nexen (Calgary, AB)

GIFTS, HOSPITALITY AND TRAVEL
Alexandra Wrage, Trace International (Washington, DC)

THE U.S. FCPA IN 2008: INCREASED ENFORCEMENT, ALTERNATIVE DISPOSITIONS, COMPLIANCE MONITORS, AND OTHER DEVELOPMENTS
Homer E. Moyer, Jr., Miller & Chevalier (Washington, DC)

ANTI - BRIBERY INVESTIGATIONS
Frederic R. Miller, PricewaterhouseCoopers (Washington, DC)

DEFENDING YOUR COMPANY IN AN FCPA INVESTIGATION
Charles F. Walker, Skadden, Arps, Slate, Meagher & Flom (Washington, DC)

CONDUCTING COST-EFFECTIVE INTERNAL INVESTIGATIONS AND FCPA COMPLIANCE REVIEWS
Gary Giampetruzzi, Pfizer, Inc. (New York, NY)

WHAT TO DO WHEN THE WHISTLE BLOWS: CONDUCTING COST EFFECTIVE INTERNAL CFPOA/FCPA INVESTIGATIONS
Hugh Hooker, Petro-Canada (Calgary, AB)

CONDUCTING COST-EFFECTIVE INTERNAL INVESTIGATIONS AND FCPA COMPLIANCE REVIEWS
Paul M. Lalonde, Heenan Blaikie (Toronto, ON)

DEALING WITH SUSPECTED AND ALLEGED VIOLATIONS: REPORTING PROGRAMS AND DISCIPLINARY PROCEDURES
Roddy Allan, Navigant Consulting (Toronto, ON)

THE FCPA PAPER TRAIL
Charles F. Walker, Skadden, Arps, Slate, Meagher & Flom (Washington, DC)

FUNDAMENTALS OF THE FCPA: A PRACTICAL OVERVIEW
Charles F. Walker, Skadden, Arps, Slate, Meagher & Flom (Washington, DC)



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