FCPAméricas Blog
Archive for Third Parties category:
The Ten Most Important FCPA Internal Controls (Part 1: Accounting Controls)
4.15.2014
Under the FCPA, companies can be punished not only for the wrongful things they do, like paying bribes. They can also be punished for certain things they don’t do. In particular, the FCPA’s accounting provisions require companies to have internal controls in place. When companies do not have certain protections like appropriate accounting systems and […]
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Exercising FCPA Audit Rights: Tips for Practitioners
3.13.2014
FCPA enforcement actions in the recent past, as well as the FCPA Guidance, highlight the importance of including audit rights in written contracts with third-party contractors. But just including them is not enough. The Assistant Director of the SEC’s FCPA Unit, Tracy Price, has publicly stated that enforcement agencies are also looking at how companies […]
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How Can I Control My Third Parties?
2.26.2014
Anti-corruption compliance is an increasingly important topic in Latin America, and companies in the region are starting to ask the question – how can I control my third parties? Sometimes, for FCPA practitioners, it is good to go back to basics. Under the FCPA, liability can be created when companies or their officials make payments […]
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Chronicle of a Bribe Foretold: ADM in Venezuela
2.13.2014
A gripping cautionary tale is hidden in the Statement of Facts attached to the Archer Daniels Midland (ADM) non-prosecution agreement (NPA). The NPA, which ADM signed with the DOJ last December, related in part to FCPA violations in Venezuela, as well as Ukraine. The total FCPA settlement amount was $54.3 million. In summarizing the underlying […]
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The Master List of Third Party Corruption Red Flags
2.04.2014
Under the FCPA, companies and individuals can be liable for the bribes that their agents, consultants, sales representatives, distributors, lawyers, accountants, brokers, and other third party intermediaries make to foreign officials on their behalf. Specifically, the FCPA applies to “indirect” payments as well as “direct” ones. To mitigate this risk, companies are expected to conduct […]