As the drumbeat continues with observers predicting robust FCPA enforcement against private equity firms (see articles here and here), and on the eve of ACI’s 2nd Summit on FCPA, AML & OFAC Risks for Private Equity and Hedge Funds, it is a fitting time to overview some specific compliance strategies that private equity firms are employing to manage FCPA risks.
FCPAméricas previously summarized the ways in which private equity faces FCPA liability. This post offers ten tips for oversight of the compliance programs of their portfolio companies.Risk m...Read more
FCPAméricas sat down recently with Jim Mintz, who runs the global investigations firm the Mintz Group, to get his thoughts on corporate investigations in Latin America.
Describe your approach to corporate investigations.
Lawyers and investigators begin each case knowing little or nothing about the subject company or issue. It’s like standing outside a high wall. We begin to look for cracks in that wall by doing our homework, talking to the client, gathering paper. And we find some doors in that wall. These cases are often so complex that, after we get through the outer wall, we then find ourselves at the outer layer of a maze of alleged wrongdoing inside a corporate environment. Our job is to work through this maze and get to the truth.
The art of investigation is not one singular skill. It is a journey that you go on that often involves getting people to cooperate and guide you thro...Read more
In the last decade, there have been a number of FCPA enforcement actions in the healthcare sector. This post discusses some of the challenges faced by companies that operate in Latin America in this industry and ways to mitigate risks. While the challenges discussed are true regardless of the region, they are particularly relevant in Latin America.
Determine who is a government official. One of the main challenges of compliance with anti-bribery laws in the healthcare industry in Latin America arises out of the fact that many hospitals, laboratories, and medical schools are state-owned or state-controlled. Moreover, local legislation often considers healthcare professionals (HCPs) working in such entities as public employees. In Brazil, for example, an HCP who works in a public hospital, even on a temporary basis or without pay, is considered a government official. Because of this, many companies operating in the region have implemented controls to deter...Read more