The Business Case for Preventing Foreign Bribery:
Current Issues in Global Anti-Corruption Compliance and Enforcement
Tuesday, July 1, 2008
Registration and Drinks : 6:00 p.m.
Program Time: 6:30 p.m. - 8 :00 p.m.
1675 Broadway (between 52nd & 53rd)
New York, NY
The Swiss American Lawyers Association of Greater New York (SALA) and Mayer Brown LLP invite you to attend a panel on recent developments in global anti-corruption compliance and enforcement.
- Mark Pieth, Chair of the OECD Working Group on Bribery in International Business Transactions, Professor at the University of Basel Law School, Basel, Switzerland
- Claudius O. Sokenu, Esq., Partner, Co-Chair of the Securities Enforcement & Investigations Practice, Mayer Brown LLP, New York, NY
- Glenn T. Ware, Esq., Managing Director, Anti-Corruption Service Group, PwC, (former Chief Investigative Counselor, Department of Institutional Integrity, The World Bank Group)
Enforcement levels of the US Foreign Corrupt Practices Act (FCPA) have reached new heights: in 2007, the number of new enforcement proceedings brought by the Department of Justice and Securities Exchange Commission set a new record, doubling the number of cases brought in 2006. The first quarter of 2008 promises yet another record enforcement year. The US government takes an expansive approach to jurisdiction over foreign bribery cases: enforcement actions have been triggered by the listing of a foreign company on an American exchange or by actions on US territory in connection with bribes paid to a foreign official by a non-resident company.
Companies increasingly also have to navigate foreign anti-bribery laws. Jurisdictions in developed and emerging markets have stepped up implementation of the OECD Convention against Foreign Bribery (1997) through the enactment of strict anti-corruption laws and more aggressive enforcement. In addition to fines or imprisonment sanctions can include companies being blacklisted by government procurement offices and international financial institutions, not to mention the significant reputational damage that can be suffered.
When faced with bribery allegations, companies need to make numerous strategic decisions, including determining how to interact with enforcement agencies in multiple jurisdictions, where policies and cultures may differ. Another important consideration is self-reporting after a systematic internal investigation, which has become a viable avenue to correct corrupt practices and reduce sanctions. However, with the prospect of parallel multi-jurisdictional proceedings, deciding who to report to first, and when, becomes crucial, and raises questions of international double jeopardy.
For additional information, please contact Jascha D. Preuss at 212 506 2409 or firstname.lastname@example.org.
The Swiss American Lawyers Association of Greater New York, Inc. is a not for profit corporation for and by Swiss and U.S. lawyers who have regular contacts with Switzerland, through Swiss clients or employers or with Switzerland as a place of business or jurisdiction, and who practice in the greater New York area, in a law firm, in-house, international organization or diplomatic representation. SALA also invites Swiss legal academics at universities in the New York area. SALA gives its members and supporters a forum for exchanges of ideas regarding Swiss, US, and international law and policies affecting Swiss and American lawyers, their clients and/or their organizations and provides opportunities for collegial interaction and networking. Become a member! For more information please visit www.salany.org.