The US Department of Justice(US DOJ) and the US Securities and ExchangeCommission (SEC) have released a new version of the resourceguide on the US Anti-Corruption Act(FCPA - Foreign Corrupt Practices Act) after 8years since the publication´s first version. When it was launched in 2012, theguide listed the 10 most prestigious hallmarks to feature a solid complianceprogram, including the reason for an article on this website.
You can get your copy by clicking here.
There is a consensus that theupdates brought by this new version of the guide reflect the weight of severalguidelines followed by the US DOJ, counting on modest participation by the SEC.
This guide update brought 5(five) new sessions, which did not exist in the previous version:
- ConfidentialReporting and Internal Investigation;
- ContinuousImprovement: Tests and Periodic Review, Research, Analysis;
- Investigation,analysis and remediation of misconduct;
- Theevaluation of corporate compliance programs; and
- Otherguidelines on compliance and international best practices.
Among the innovations incorporated in the newdocument, the most relevant are the following:
- Definitionof what instrumentalities of foreign governments are;
- TheSEC's disgorgement power;
- Affirmativedefenses based on local laws;
- The responsibility ofsuccessors;
- Accounting provisions;and
- Incorporationof new US DOJ and SEC guidelines and programs.
If you would like any furtherclarification on this document and the risk assessment for possible impacts onthe company's business, please contact our partner responsible for the Ethicsand Compliance area – Alexandre Dalmasso - by firstname.lastname@example.org, who can provide you with all the necessarysupport.