The New Foreign Corrupt Practices Act Resource Guide: An Opportunity to Review Your Nonprofit’s Compliance

more+
less-
more+
less-

On November 14, 2012, the long-awaited U.S. Department of Justice (“DOJ”) and Securities and Exchange Commission (“SEC”) Foreign Corrupt Practices Act (“FCPA”) guidance (the “Guidance”) was released. Styled “A Resource Guide to the U.S. Foreign Corrupt Practices Act,” this 130-page document represents the DOJ and SEC’s effort to answer critics of the Act and to clarify their interpretation of key provisions of the Act and the principles guiding their enforcement efforts.

The FCPA does not distinguish between for-profit corporations and nonprofit organizations with respect to its anti-bribery provisions. Regardless of the type of entity involved, the FCPA prohibits offering to pay, paying, promising to pay, or authorizing the payment of money or anything of value to a foreign government official to assist in obtaining or retaining business. “Business” has been interpreted broadly and would include all activities in furtherance of an organization’s nonprofit and tax-exempt purposes.

Please see full article below for more information.

LOADING PDF: If there are any problems, click here to download the file.

Topics:  Compliance, DOJ, FCPA, FCPA Resource Guide, SEC

Published In: General Business Updates, Criminal Law Updates, International Trade Updates, Nonprofits 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.

© Venable LLP | Attorney Advertising

Don't miss a thing! Build a custom news brief:

Read fresh new writing on compliance, cybersecurity, Dodd-Frank, whistleblowers, social media, hiring & firing, patent reform, the NLRB, Obamacare, the SEC…

…or whatever matters the most to you. Follow authors, firms, and topics on JD Supra.

Create your news brief now - it's free and easy »