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The Intersection of the Dodd-Frank Act and the Foreign Corrupt Practices Act: What All Practitioners, Whistleblowers, Defendants, and Corporations Need to Know
With the enactment of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act),1 government authorities are no longer the only ones with a monetary interest in ferreting out those who violate federal laws. Specifically, section 922 of the Dodd-Frank Act provides a whistleblower program that rewards individuals who assist the Securities and Exchange Commission (SEC) in uncovering securities violations, including Foreign Corrupt Practices Act (FCPA) violations. Because the Dodd-Frank Act allows individual whistleblowers to reap significant benefits by reporting offenders and because the SEC and Department of Justice (DOJ) have increased FCPA prosecutions in recent years, global companies and their employees, especially those in the pharmaceutical and medical device industry, should understand how the Dodd-Frank Act and the FCPA intersect.
FCPA Internal Investigations: Key Concepts and Considerations
The globalization of national economies has created an increasing number of cross-border business opportunities for American companies. As a result, more and more businesses find at least some portion of their operations based or conducted in various foreign countries.1 This expansion into foreign markets creates significant opportunities for companies, but it also gives rise to a number of challenges. Foreign markets are often subject to different laws, customs, and standards and companies must take these issues into account to successfully operate. One of the most significant issues that companies must confront when conducting business operations in foreign countries is compliance with the Foreign Corrupt Practices Act (“FCPA”). In general, the FCPA prohibits payments and other transfers of value to foreign officials for the purpose of obtaining a commercial advantage.3 While such a practice would be naturally viewed as improper within the United States, corruption is more common in many foreign countries, and is often tolerated or allowed to flourish due to weak enforcement of local anti-corruption laws.4 The FCPA attempts to fill any such enforcement gaps by prohibiting companies subject to the law from engaging in such practices.
Acquisition Finance: Loan Market Trends in the Energy Sector
“Acquisition Finance” involves the interaction of two separate but related transactions. First, there is a purchase and sale of an asset or legal entity between a buyer and a seller that is evidenced by a purchase and sale agreement (the “PSA”). Second, there is a financing arrangement between a borrower (i.e., the buyer) and one or more financing providers that is evidenced by a credit or loan agreement, the proceeds of which are used to finance the acquisition (the “Financing”). In order to fully appreciate the current loan market trends in the acquisition finance space, it is important to know how the market has evolved in recent years.
Foreign Corrupt Practices Act - Is the Cover-Up Worse than the Crime?
Brief FCPA Primer FCPA Enforcement Update FCPA Trends for 2012 Recent, Notable FCPA Cases FCPA Legal Developments Collateral Consequences International Enforcement Merger/Acquisition Concerns Third Party Concerns What To Expect From An FCPA Investigation.