New Guidance Gives Clarity On FCPA Enforcement Without Shifting Policy

摘要

The Obama administration last week issued long-awaited comprehensive guidance on the issue of compliance with the Foreign Corrupt Practices Act (FCPA). The guidance - which does not represent a change in government policy and mostly consolidates existing governmental enforcement practices and interpretations - was nonetheless welcomed by business groups and FCPA attorneys, who said it includes several useful clarifications. The Department of Justice (DOJ) and Securities and Exchange Commission (SEC) released the 120-page guidance on Nov. 14, almost a year after Assistant Attorney General Lanny Breuer first announced the undertaking (Inside US-China Trade, Nov. 16, 2011). Although it does not address all of the demands of groups like the U.S. Chamber of Commerce, it does address many key issues, including how to define terms like "foreign official" and "instrumentality." In a Nov. 14 statement, the Chamber's Institute for Legal Reform said the guidance "addresses several areas of concern outlined by ILR and more than 30 trade and business associations earlier this year." A business source added that there is "tremendous value" in having one document focused on compliance; previously, companies had to deal with a "patchwork" of government FCPA legal interpretations offered in a variety of different contexts, he said.