FCPA: SEC and DOJ Share Insights at ACI Conference

December 3, 2013
Categories: Anti-corruption, Compliance, FCPA

At the recent American Conference Institute National Conference on the Foreign Corrupt Practices Act (FCPA), Charles Duross, Deputy Chief of the FCPA Unit in the Criminal Division of the Department of Justice (DOJ) and Kara Brockmeyer, Chief of the FCPA Unit at the Securities and Exchange Commission (SEC) shared key insights on the most important best practices for compliance in regard to the FCPA.

The speakers emphasized that internal audit and the compliance department must remain central to all anti-corruption programs, and that an effective compliance program must focus on continual improvement and be led by trained and knowledgeable personnel.

Companies will get credit for having strong anti-corruption compliance programs in place, as well. This includes:

  • Prompt company self-disclosure
  • Close cooperation with the SEC and DoJ
  • Identification of problems through self-policing
  • Engaging in a global search to verify that any identified problems are isolated
  • Undertaking extensive remediation as necessary

According to the speakers, enforcement continues at a vigorous pace. This year was the fifth biggest year in terms of FCPA penalties. Cases tended to be distributed across all industries, and 70 percent involved third parties such as customs brokers, suppliers, distributors, and other intermediaries.

In terms of future trends, the speakers noted that the DoJ will continue to use traditional criminal law enforcement techniques in corruption cases and both the DoJ and SEC will continue to focus on individual prosecution.

CREATe Anti-Corruption Resources available on the website:

  • Anti-Corruption Guidelines: links and insight into top international anti-corruption guidelines. Available in English, Chinese, Spanish and Brazilian Portuguese.

Media Inquiries

Media Contact: Email Anne Walker

Upcoming Events

No upcoming events at this time.