Roseland, N.J. September 2013, USLAW Magazine Features John P. Lacey's Article, "The Foreign Corrupt Practices Act: What Business Leaders and General Counsel need to Know."
As more American businesses expand overseas, and as worldwide marketing of products and services becomes commonplace, the pressure on salespeople and business executives to maintain and to expand sales continues to increase. That said, many businesses and their employees have sought to grow their international businesses by courting government officials overseas. Such courting may include giving a small token of esteem to an official, purchasing a meal, or it may involve providing substantial gifts of cash or automobiles. These business practices can easily run afoul of the Foreign Corrupt Practices Act (hereinafter “FCPA” or “the Act”). Accordingly, they are now the subject of great scrutiny by both the United States Department of Justice (DOJ) and the United States Securities and Exchange Commission (SEC). Fortunately, the DOJ and the SEC have recently issued detailed guidance interpreting the FCPA provisions. All business leaders and their corporate counsel should pay close attention to this guidance in order to avoid violations of the FCPA.
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