The Foreign Corrupt Practices Act in a New Era

The Foreign Corrupt Practices Act in a New Era

Mike Koehler

The Foreign Corrupt Practices Act (FCPA) has emerged as a top concern for companies doing business in the global marketplace. This book is the first of its kind given its comprehensive and provocative coverage of the FCPA and its many related legal and policy issues.

Chapter 8: FCPA compliance and best practices

Mike Koehler

Subjects: law - academic, corporate law and governance, corruption and economic crime, criminal law and justice, regulation and governance


This chapter is devoted to FCPA compliance. However, before diving into the specifics on this topic, it is important to recognize that FCPA compliance is difficult for even the most well-managed and well-intentioned business organizations. This is due to respondeat superior, the realities of doing business in the global marketplace, and the shifting and often conflicting messages of the enforcement agencies. Because of these difficulties, and the fact that rogue employees exist and no compliance program can ever prevent all misconduct, FCPA risk can not be eliminated. However, FCPA risk can be effectively managed and minimized, and one positive result of the increase in FCPA enforcement in this new era has been the related increase in 'soft' enforcement of the FCPA through compliance policies and procedures. Certain FCPA enforcement actions provide an opportunity to learn, and this chapter will showcase various teachable moments from compliance failures in actual enforcement actions. FCPA compliance however is not a one-size-fits-all proposition. Rather effective and cost-efficient FCPA compliance is best achieved through conducting a risk assessment, and you will learn the basic fundamentals of conducting an FCPA risk assessment so that compliance can be uniquely tailored to a company's FCPA risk profile. This chapter also highlights various FCPA best practices - from high-level commitment to third-party due diligence and oversight, to review and monitoring of compliance programs - designed to manage and minimize FCPA risk.

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