International - Written by Barry & Richard on Sunday, February 26, 2012 2:21 - 1 Comment
Don’t get extradited to the US: US Foreign Corrupt Practices Act: Join us & our special guest Tom Fox on April 16 2012
Does your business have connections with the United States? If so it (and you) may be subject to the United States anti-corruption law the Foreign Corrupt Practices Act (FCPA). The FCPA outlaws the overseas bribery of foreign public officials.
The FCPA has been the most aggressively enforced anti-corruption law in the world to date.
If you would like to understand more and hear about latest trends and best practice to avoid problems under the FCPA then please join us at our London office on April 16 and hear from our special guest and friend of thebriberyact.com Tom Fox from Houston, Texas. The session will begin at 7pm prompt so please arrive a little before.
If you would like to register your interest in attending please email firstname.lastname@example.org
Tom writes FCPA compliance and ethics blog and is steeped in the oil industry having been in house counsel at Drilling Controls Inc., and before that Halliburton.
Using the FCPA the US is the most aggressive enforcer of bribery law violations in the world accounting for nearly 75% of global anti corruption enforcement.
TRACE Global Enforcement Report confirms the US has pursued FCPA actions against a significant number of foreign companies and individuals. Over 20% of FCPA actions (including formal charges and settlements along with known ongoing investigations) involve companies headquartered outside of the United States. Swiss entities represent the largest contingent, followed by a sizeable number of actions involving UK, Dutch, French and German companies. The largest ever penalty was meted out to German company Siemens (c.800 million US$ and the same again in Germany).
However, a string of other UK companies have been subjected to FCPA enforcement.
The exposure posed to UK businesses and individuals by tough US criminal statutes and enforcement was underscored again when Christopher Tappin was extradited to the US following a reported US Justice Department sting operation.
We look forward to welcoming you to this seminar.
Tom is an FCPA expert steeped in the Oil Industry and has practised law in Houston for 25 years.
Tom was most recently the General Counsel at Drilling Controls, Inc., a worldwide oilfield manufacturing and service company. He was previously Division Counsel with Halliburton Energy Services, Inc. where he supported Halliburton’s software division and its downhole division, which included the logging, directional drilling and drill bit business units.
Notes on the FCPA
The US Foreign Corrupt Practices Act (FCPA) applies to both companies and individuals including:
- Individuals who are citizens, nationals, or residents of the United States;
- Companies or partnerships which are incorporated under the laws of a state, territory or possession of the United States;
- Companies or partnerships which have their principal place of business in the United States;
- Individuals, companies and partnerships located in a territory or possession of the United States; and
- Any entity or individual, wherever situated, who (i) while in the United States engages in an act in furtherance of a bribe by using the mails or any other means or instrumentality of interstate commerce; or (ii) has caused or aided and abetted, or who has conspired with, an entity or individual to violate the FCPA.
The US Department of Justice have interpreted their jurisdictional reach expansively. So for example, if your business has operations in the US then the DOJ may take the view that your entire group operations are subject to the FCPA.