High-profile cases display new emphasis on FCPA compliance
The contrast between the US authorities' treatment of corruption at Wal-Mart and Morgan Stanley imply that regulators are focussing on compliance procedures
The US Securities and Exchange Commission (SEC) has kept up the pressure on US companies accused of paying bribes to foreign officials this year, with recent cases implying the regulator is moving towards greater emphasis on adequate compliance procedures.
The US Foreign Corrupt Practices Act (FCPA), which prohibits the payment of bribes to foreign officials by US companies, came into force in 1977 – but the past 10 years have seen explosive growth in FCPA enforcement. One case was brought by
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