June 28, 2012 Articles

Protecting Against an FCPA Violation Through a Third-Party Agent

Because of their extensive operations overseas and in countries with high rates of corruption, energy companies often find themselves at risk of an FCPA violation.

By Courtney Scobie – June 28, 2012

The U.S. government continues aggressively to enforce the Foreign Corrupt Practices Act (FCPA), the federal law that prohibits bribery and corruption by U.S. companies, foreign companies who trade on U.S. securities exchanges, and certain other foreign non-residents. Because of their extensive operations overseas and in countries with high rates of corruption, energy companies often find themselves at risk of an FCPA violation. Indeed, a recent study by the investigative-services firm Kroll Advisory Solutions showed that 73 percent of surveyed compliance managers at energy companies believed their companies were at risk for FCPA exposure.

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