On November 14, 2012, the SEC and Department of Justice (DOJ) released a Resource Guide to the U.S. Foreign Corrupt Practices Act (FCPA). The 120-page guide provides in-depth analysis of the SEC and DOJ approach to FCPA enforcement. The guide, which takes a multi-faceted approach, is intended for enterprises of various age, size and complexity. It includes hypotheticals, factual scenarios resulting in enforcement action or non-action by the SEC and summaries of applicable case law and DOJ opinion releases on a variety of FCPA topics, including the following:
- who and what is covered by FCPA anti-bribery and accounting provisions
- the definition of "foreign official"
- proper and improper gifts, travel and entertainment expenses
- facilitating payments
- successor liability in the merger and acquisition context
- hallmarks of effective corporate compliance programs
- types of civil and criminal resolutions available under FCPA