Venable partner Ashley Craig was quoted in the November 15, 2012 issue of American Shipper on the new 130-page guidance on the Foreign Corrupt Practices Act (FCPA) released this week by the U.S. Department of Justice (DOJ) and the Securities and Exchange Commission (SEC). The guidance is meant as a reference for businesses on handling the realities and hypotheticals of the law.
Commenting on the publication of the new guidance, Craig said, “The government's newly-released voluminous guidance seeks to provide a way forward for companies and their anti-bribery compliance efforts - responding to long-standing claims from industry that such commentary is warranted and should be practical.” Added Craig, “How practical the new guidance actually is remains uncertain and may vary by industry. All sectors should carefully review the DOJ/SEC's guidance and look to incorporate relevant aspects into their corporate governance protocol. There may be important lessons in this document - for some.”
Commenting on the publication of the new guidance, Craig said, “The government's newly-released voluminous guidance seeks to provide a way forward for companies and their anti-bribery compliance efforts - responding to long-standing claims from industry that such commentary is warranted and should be practical.” Added Craig, “How practical the new guidance actually is remains uncertain and may vary by industry. All sectors should carefully review the DOJ/SEC's guidance and look to incorporate relevant aspects into their corporate governance protocol. There may be important lessons in this document - for some.”