Anti-bribery laws, including the United States’ own Foreign Corrupt Practices Act, seem to be becoming the stuff of Aesop’s Fables, with many asking whether the resounding alarm over bribery-exposure is akin to the cries of “wolf” by the shepherd boy. The alarm is real enough, however. The Securities and Exchange Commission and the Department of Justice have brought an average of 30 cases per year since 2005. These laws equally impact small and medium-sized companies and their executives, as well. In July 2014, Kara Brockmeyer, chief of the SEC Enforcement Division’s FCPA Unwith explained that “small and medium-size businesses that want to enter into high-risk markets and expand their international sales” must be compliant with the FCPA.Be Aware of Your Risks. When it comes to corruption risks, there is no one-size fits all approach. Each business must be aware of its own risks. Corruption risks are directly tied to (i) the contacts a business has with the government of any particular country and (ii) the corruption perception of the government of such countries. In a highly-regulated country, in which licenses and permits are required at every turn, the corruption risk may be higher than that in either a less-regulated country or a… Read full this story
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