Symposium to examine Foreign Corrupt Practices Act
Paying foreign officials for the purpose of obtaining or retaining business is in violation of the 35-year-old Foreign Corrupt Practices Act. Yet many multinational companies and their advisors struggle with the aggressive enforcement by the United States, in the midst of vast expansion of business globally.
The topic will be taken up at a March 16 symposium, “The FCPA at Thirty-Five and Its Impact on Global Business,” sponsored by the Ohio State Law Journal at The Ohio State University Moritz College of Law. Top government officials, leading academics, and experienced practitioners will gather to discuss the many aspects of the FCPA, the first domestic statute governing the conduct of domestic companies in their direct and indirect interactions with foreign officials.
For most of its existence, the FCPA was sporadically enforced and of concern to only a small portion of the business and legal community. In the past several years, however, the FCPA has surged to the forefront of concerns for international business. In 2004 there were five FCPA enforcement actions; in 2010 there were 74, accounting for approximately $1.3 billion in total fines and penalties assessed against businesses. Given the recent increase and aggressiveness of enforcement, the FCPA has become a major legal issue for all multinational companies across various industry sectors.
Wayne State University Law School Professor Peter Henning will deliver the keynote address at the symposium. Henning has taught in the College of Business Administration at Loyola Marymount University and clerked for Chief Judge Murray M. Schwartz of the U.S. District Court for the District of Delaware. He was a senior attorney in the division of enforcement for the U.S. Securities and Exchange Commission and worked for the U.S. Department of Justice’s criminal division, investigating and prosecuting bank fraud.
Panel discussions will cover the FCPA and government, whether the FCPA is effective, the FCPA’s impact on global business, and the FCPA and International Civil Society. CLE credits are available for those who register by March 5.
For more information, visit the symposium website here.
Posted in: Winter 2012, On Point