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FCPA: Sets a high bar for compliance

James Koukios | May 8, 2018

If you view public corruption as a bad thing (and we assume you do), then enforcement of the Foreign Corrupt Practices Act (FCPA) and other public integrity laws, in and of itself, is a good thing. But the way in which a law is enforced can be equally as important as combating the wrong it is intended to address. From this perspective, FCPA enforcement has made significant and positive contributions to the development of compliance programs and standards over the past decade.

It is no coincidence that the stature and resources of the compliance function in most multinational companies has increased dramatically during the current period of heightened FCPA enforcement. FCPA enforcement has emphasized that an effective compliance program can mitigate—and in some cases, such as the landmark Morgan Stanley/Garth Peterson resolution, absolve—corporate liability for FCPA violations. This means that compliance, long seen as just a cost center, is now perceived as a vital protector...

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