FCPA Compliance and Ethics Report-Episode 94-Internal Controls for Gifts, Travel and Entertainment in a FCPA Compliance Program, Part II
FCPA Compliance and Ethics Report-Episode 53-Gifts, Travel and Entertainment Under the FCPA
It’s the holiday season and your company’s purchasing manager received a bottle of wine from a longtime vendor. You think, “No problem, it’s just a bottle of wine.” A week later you learn that it was actually an extremely...more
Gift-giving is common in many workplaces, especially during the holiday season. While giving your coworker or customer a present can help to build business relationships, not all forms of gift-giving happen with such...more
If one were to reflect upon the providing of gifts and business entertainment to foreign governmental officials, one might reasonably conclude that after 40 years of the FCPA, companies might follow its prescriptions...more
Since October 1, 2020, healthcare companies have been required to implement the new French anti-gift legal framework, as substantially strengthened by the Ordinance No. 2017-49 dated January 19, 2017....more
We continue our Christmas entertainment-themed week by going in a different direction and focusing solely on music today. Greg Lake is best remembered as the guitarist for the prog rock trio, Emerson, Lake and Palmer. While...more
As we rapidly approach the New Year, higher education institutions should ensure they have met their foreign gift and contract reporting requirements. Institutions are required by Section 117 of the Higher Education Act to...more
Welcome to Compliance Notes from Nossaman’s Government Relations & Regulation Group – a periodic digest of the headlines, statutory and regulatory changes and court cases involving campaign finance, lobbying compliance,...more
Companies should identify and, where appropriate, manage risk associated with gifts and entertainment by incorporating a clear policy into their overall corporate compliance strategy. On September 11, 2020, the French...more
Today’s post briefly explores whether the term “corporate charity” is an oxymoron. It also tries to provide a framework for evaluating whether certain “charitable” activities should be undertaken by a business corporation. It...more
Can businesses provide charitable donations to government agencies in support of COVID-19 emergency relief? In the wake of the COVID-19 outbreak, many corporations, businesses, industry groups and not-for-profit...more
On May 9, 2019, Telefônica Brasil agreed to pay a US$4.13 million civil fine to settle U.S. Securities and Exchange Commission charges for violations of the internal accounting controls and recordkeeping provisions of the...more
Based upon the language of the Foreign Corrupt Practices Act (FCPA), 2012 FCPA Guidance, FCPA enforcement actions and relevant Opinion Releases, and allowing for inflation over the past 40 years, it would appear reasonable...more
Now that the 2018 midterm elections are over, we must contend with legal issues that arise from activities related to federal, state and local inaugural and transition committees, as well as recounts and runoff elections. As...more
Recently, the Municipal Securities Rulemaking Board (MSRB) noted in its quarterly compliance newsletter dated June 8, 2018 that it has “compliance concerns” regarding issuer-solicited charitable donations. The MSRB’s...more
Ed. Note-Jim McGrath was a great friend and a trusted colleague who passed away in 2014. As a tribute to McGrath and each year for Christmas, I submit for your enjoyment, the below post which originally appeared on McGrath’s...more
In considering the effectiveness of controls, you must always keep in mind the most frequently used method for defeating an internal control, which is driven by a dollar amount criteria, is splitting the item into multiple...more
Sending the wrong gift to the wrong person could leave a company facing bribery charges. During the holiday season, we naturally want to acknowledge and thank our clients and vendors. Today, however, with stricter...more
Halloween has passed and we are now squarely approaching the holiday season. While this time of year brings many good things, it can also bring unwanted headaches for employers wanting to spread some “holiday cheer,”...more
There are many reasons employers give bonuses to employees. Bonuses are a motivator. They effectively reward past contributions. Bonuses also allow employers to provide additional compensation to the workforce on a one-time...more
This year, India celebrates Diwali on October 19, 2017. “The Festival of Lights,” as Diwali (or Deepavli) is commonly called, is celebrated across India with great aplomb, joy and, of course, delicious sweets. Diwali...more
Rock and roll heaven got another power player this week as Greg Lake died on December 7th. He was one-third of the greatest prog rock trio Emerson, Lake & Palmer (aka ELP). With apologies to Patrick Hays and all you...more
The Alabama Ethics Commission (the “Commission”) held a regularly scheduled meeting on October 5, 2016. At the meeting, the Commission formally extended the comment period for two significant advisory opinions affecting...more
On November 6, 2015, the U.S. Securities and Exchange Commission (SEC) approved amendments by the Municipal Securities Rulemaking Board (MSRB) to MSRB Rule G-20 regarding gifts, gratuities and non-cash compensation. The...more
What better time than the holiday season to discuss “gifting” in the context of chapter 11 cases. “Gifting” commonly refers to the situation where a senior creditor pays (or allocates a portion of its collateral for the...more
First it was Petrobras but it certainly did not take long for the second shoe to drop for the other corrupt national energy company in Latin America, the Venezuelan national oil company Petróleos de Venezuela, also known as...more