The Foreign Corrupt Practices Act (FCPA) is a federal law that prohibits U.S. companies and individuals from paying bribes to foreign officials to obtain or retain business. The best way to ensure compliance with the FCPA is to work with an experienced international law attorney.
At Transnational Matters, PLLC, we regularly advise clients throughout the U.S. and worldwide on FCPA compliance. Whether your business needs assistance developing compliance procedures, is undergoing an FCPA audit or investigation, or has been harmed by or accused of an FCPA violation, you need the informed representation we provide.
When you meet with us, we will take the time to understand your business, advise you of your obligations under the FCPA, work with you to ensure you comply with the act, and address any other FCPA-related matter. Once you become our client, you will be confident with our experienced FCPA compliance attorney in your corner. Contact us today to book a confidential consultation.
What is the Foreign Corrupt Practices Act?
The FCPA was enacted in 1977 to combat bribery and corruption in international business transactions. The act applies to all U.S. companies, foreign companies that trade on U.S. stock exchanges, and individuals who are citizens or residents of the United States.
The FCPA has two main provisions: the anti-bribery provision and the accounting provision:
- The anti-bribery provision prohibits the payment of bribes to foreign officials to obtain or retain business.
- The accounting provision requires companies to keep accurate and complete books and records and maintain an adequate system of internal controls.
Common Claims under the FCPA
The most common claims involve bribery of foreign officials, which can take many forms. For example, a U.S. company may offer a bribe to a foreign official in exchange for a contract, a permit, or other favorable treatment.
Bribes may be in the form of cash, gifts, entertainment, or other things of value. The FCPA also prohibits “facilitating payments,” small payments made to foreign officials to expedite routine government actions, such as obtaining a visa or a customs clearance.
Violations of the accounting provisions are also common. Companies may falsify their books and records to conceal improper payments or to hide other financial improprieties. Inadequate internal controls may also lead to violations of the accounting provisions if companies fail to detect and prevent bribery or other financial misconduct.
Which Agencies Can Bring an FCPA Legal Action?
The Department of Justice (DOJ) and the Securities and Exchange Commission (SEC) are the primary enforcement agencies for the FCPA. The DOJ has criminal enforcement authority and can prosecute individuals and companies for violations. The SEC has civil enforcement authority and can bring civil actions.
Because the DOJ and the SEC often work together on FCPA investigations, companies may face both criminal and civil charges for violations. Ultimately, violations of the act can result in severe penalties, including fines, imprisonment, and reputational damage.
Given these consequences, working with an experienced FCPA compliance attorney is essential. That’s where Transnational Matters steps in. We have the skills and experience to ensure your business adheres to the act and mitigate the repercussions of potential violations.
How Our FCPA Compliance Attorney Can Help
FCPA compliance is a complex and constantly evolving area of law. Companies that do business internationally face unique challenges in complying with the FCPA. Transnational Matters can help you navigate the complex regulatory landscape and develop an effective compliance program.
Our transnational attorney has specialized knowledge of the laws and regulations that apply to international business transactions. The FCPA is just one of many laws that companies must comply with when doing business internationally. You can trust our firm to help you navigate the complex web of laws and regulations and develop a compliance program that meets your needs.
Why Transnational Matters?
Our firm regularly helps companies comply with the FCPA and can guide you on compliance best practices, including:
- Conducting risk assessments
- Developing policies and procedures
- Training employees on FCPA compliance.
Our FCPA compliance attorney can help you mitigate the risk of violations by conducting a risk assessment of your business operations and identifying areas where you may be at risk. They can also help you develop and implement effective compliance policies and procedures to mitigate the risks.
Finally, our attorney can assist with FCPA investigations and proactively resolve alleged violations. You can depend on our team to assist with responding to subpoenas, conducting internal investigations, negotiating with the DOJ or SEC, and developing a strategy for defending against charges if necessary.
Talk To An International FCPA Compliance Attorney Today
Working with an international law attorney can ensure that your company complies with the FCPA. Transnational Matters will provide knowledge, experience, and guidance in developing and implementing an effective compliance program and mitigating the risk of FCPA violations for businesses based outside the United States. If you need assistance with FCPA compliance or another transnational matter, contact us today to protect your company’s interests.
