DOJ and SEC Publish Guide to the Foreign Corrupt Practices Act (FCPA)

The long-awaited federal guide to the Foreign Corrupt Practices Act is out. Published by the Criminal Division of the U.S. Department of Justice and the Enforcement Division of the U.S. Securities and Exchange Commission, the 130-page guide provides an in-depth look at both the law and the way that government officials are enforcing it.

See for yourself:

We’ll publish legal perspective from lawyers and law firms on JD Supra as soon as we have it. In the meantime, here’s what the Wall Street Journal Law Blog’s Joe Palazzolo has to say:

“Broadly, the guidance recites positions long held by the government and avoids the firm policy pronouncements sought by the U.S. Chamber of Commerce and other critics of the law.

You’ll find some meat in the ‘gifts, travel and entertainment’ section (page 15). There, the agencies suggest –note: they do not promise — that paying for a foreign official’s cab fare or buying him or her a cup of coffee wouldn’t alone trigger an FCPA investigation.

Have a look at the agencies’ section on who qualifies as a ‘foreign official’ beginning on page 19. It’s a rehash of positions DOJ and SEC have advanced in court.  Facilitating payments? Page 25.  You’ll find an articulation of the agencies’ views on successor liability on page 28.”

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