Foreign Corrupt Practices Act Internal Investigations and Enforcement Proceedings

Summary

The U.S. Foreign Corrupt Practices Act of 1977 (FCPA), 15 U.S.C. § 78dd-1 et seq., is a U.S. federal law that prohibits offers, payments, or promises to pay money or anything of value to any foreign official for the purpose of obtaining or retaining business. The UK Bribery Act 2010 (Bribery Act) (and preceding UK legislation dealing with bribery and corruption) is considered the FCPA's equivalent. While these laws have some overlapping features, there are important differences between the two laws. This practice note considers the key issues that arise during investigations and enforcement of potential FCPA breaches and provides practical insight for attorneys dealing with U.S. enforcement authorities, the U.S. Securities and Exchange Commission (SEC), and the Department of Justice (DOJ). International cooperation and coordination between the U.S. and the UK are also discussed.