In this article, the second in a continuing series, Homer Moyer provides an overview of changes in international anti-corruption law and why it is important for corporate board members to be conversant with them. There are now a half dozen international anti-corruption treaties in place, which has led to the adoption of new laws in scores of countries prohibiting foreign bribery. In the United States, FCPA financial penalties in excess of nine figures and criminal prosecutions of individual executives are no longer unusual, and the implementation of similar laws in other countries is beginning to change the international legal landscape. These developments have upped the stakes for companies that violate these laws. They also have made the corporate anti-corruption compliance programs that board members are mandated to oversee more important than ever. An appreciation of these trends provide additional context for board discussions and will help guide directors in discharging their fiduciary responsibilities effectively.
Click below to access each of the articles in this series.
Board Members, Meet the New FCPA
Board Oversight of FCPA Compliance
To Disclose or Not To Disclose--A Recurring FCPA Question
Costs of FCPA Investigations -- A Board Issue?
Becoming an FCPA-Savvy Director