Matt Reinhard Discusses FCPA Risks for Hedge Funds in Main Justice

"Are Hedge Funds Ripe for an Anti-Corruption Industry Sweep?"
Main Justice
06.29.12Matt Reinhard comments on the FCPA risks faced by hedge funds in light of the continued civil lawsuits against hedge fund manager Francisco Illarramendi and others involved in the Ponzi scheme. According to Reinhard, hedge funds have two main areas of FCPA vulnerability - inbound investment and outbound investment. "Fund managers need to be asking themselves, 'Who am I doing business with overseas? Who's getting me this access?'" he said.

A simple solution to this issue would be for hedge funds to include anti-corruption controls within already existing procedures. "I think it just requires acknowledging this risk and taking some relatively simple, straightforward but important steps to take care of the risk going forward," said Reinhard.
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