US Enforcement agencies issue extensive new FCPA guidance
On 14 November 2012, the US Department of Justice and the Securities and Exchange Commission issued A Resource Guide to the US Foreign Corrupt Practices Act, which provides extensive and long-awaited guidance on the interpretation and enforcement of the FCPA. This landmark document presents the views of the U.S. enforcement agencies on a wide range of FCPA issues of significant concern to the global business community, including the jurisdictional reach of the FCPA; the meaning of “foreign official” and “government instrumentality;” the treatment of business hospitality and gifts; successor liability in mergers and acquisitions; the principles that govern enforcement decisions, including self-reporting, cooperation and remediation; the elements of effective compliance programs; and reporting obligations under the Sarbanes-Oxley Act.
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Briefings from Debevoise & Plimpton
The FCPA in 2012
The year 2012 will probably be remembered in the annals of FCPA history as the year of the Guidance.
India proposes a revamp of its company law regime
On 18 December 2012, the lower house of India’s parliament cleared the Companies Bill 2012, in a significant step towards replacing the more than 50-year-old Companies Act 1956.
