Anti-Corruption Update: Change on the Horizon

2010 brought an explosion of anti-bribery and anti-corruption activity around the globe. In the United States, the U.S. Department of Justice and Securities and Exchange Commission stepped-up enforcment of the Foreign Corrupt Practices Act, recording nearly $2 billion in fines and penalties. Congress and the White House also entered the fray, enacting the Dodd-Frank Wall Street Reform and Consumer Protection Act. The Dodd-Frank Act includes provisions to reward "whistleblowers" who come forward with information regarding their employers' potential violations of the FCPA. Across the Atlantic, the United Kingdom enacted the Bribery Act of 2010, a law that will create a new and complex layer of anti-corruption regulations for companies with any connections to the U.K.

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Published In: Administrative Agency Updates, Business Organization Updates, Criminal Law Updates, Finance & Banking Updates, Securities Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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