posted by Savanah on Sep 29
Companies doing business globally should first find a consulting firm that takes an integrated approach in analyzing the Foreign Corrupt Practices Act (FCPA) and the anti-corruption polices. Consultants that consider all issues and requirements that may be triggered, which includes the Sarbanes-Oxley requirements and obligations under the securities laws and the anti-money laundering laws. They should have lawyers with depth of experience in successfully dealing with the full spectrum of embargo laws and export controls that may be triggered by your international dealings.
The consulting firm should have a team with which to help you comply with the FCPA, the Anti-Bribery Convention and any and all anti-corruption regimes. There work should provide global solutions for you company facing the challenges of an ever increasing complex regulation and intensified global enforcement.
They should also excel in cross-border collaboration. Whether a Europe-based company is conducting FCPA due-diligence for a merger transaction that spans multiple jurisdictions or a U.S. Issuer responding to an RFP in the Middle East, which involves an Asia-based service provider. The consulting firm should have strong capabilities and nice cohesion that will enable them to bring their team members’ collective insights that regard all cultural matters, legal issues and political risks.
The consulting firm should provide assessments and audits of internal controls that will detect and prevent potential FCPA violations, identify the ‘red flags’ and conduct pre-acquisition due diligence to minimize the successor risk liability, they should establish protective measures that incorporate anti-corruption related contract provisions and obtain opinions released from the U.S. Department of Justice. Then need to counsel you on the guidelines for business courtesies concerning gifts and entertainment to not only foreign officials under the FCPA, but the local laws as well. Therefore, non-U.S. Based and U.S. Based issuers, public and private companies, boards of directors, individuals and audit committees in diverse industries, such as yours, will be well equipped and well informed concerning the FCPA and be of compliance.
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