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Click here to find out moreBribery of government officials recently cost the German-based multinational Siemens, AG more than $1.5 billion in fines to U.S. and German law enforcement agencies. Today, whether large or small, every U.S. company involved in international commerce risks both civil and criminal penalties under the Foreign Corrupt Practices Act (FCPA). These risks arise not just from the "suitcase of cash" scenarios that make the headlines, but also from many other activities including obtaining business licenses, navigating customs requirements, hiring commercial representatives, partnering with foreign companies, acquiring other companies, and even engaging in activities that are or seem to be common and accepted practices in foreign jurisdictions. These risks, however, can be minimized by taking some relatively simple steps in advance to assure that company personnel don’t run afoul of this law, which has been targeted as a law enforcement priority by the U.S. Department of Justice. Join our presenters, Matt Morley and Matthew Fader, of KL Gates, as they review what went wrong at Siemens; why Siemens was punished even though its board and senior management had been seeking to come to grips with the company’s bribery issues for the past five years; and why Siemens' "extraordinary cooperation" with U.S. authorities significantly reduced the penalties imposed on the company. The program will also provide guidance about the risks now faced by every U.S. company that does business internationally; how an effective FCPA compliance program can prevent companies from violating the FCPA in the first place; and what elements an effective FCPA compliance program should contain.
