Regulatory Preparedness – Understanding and Minimizing the Impact of International Corruption Regulation

Full Event Description

Despite record fines and high-profile prosecutions, many companies are unprepared for the impact of anticorruption regulations on their international business operations. As Kroll’s latest Global Fraud Report highlights, companies around the world are still unfamiliar with the behaviors that violate the US Foreign Corrupt Practices Act and UK Bribery Act, in particular the extra-territorial elements that allow US and UK regulators to prosecute companies for engaging in corruption. According to Kroll’s survey, nearly two thirds (63%) of businesses with operations in the US or UK believe the laws do not apply to them or are unsure. For businesses that don’t want to become the subject of an investigation, the question is: how do we conduct business and thrive in international markets?

This webinar will summarize the key themes of the FCPA and new UK Bribery Act and examine means of minimizing exposure through three essential perspectives:

• Developing a better understanding of your stakeholders. We will look at screening employees and conducting diligence on suppliers, intermediaries and agents. What level of investigation is appropriate, what should you look out for and when should you be extra careful.
• Enhancing your compliance functions. Taking steps to ensure compliance meets the new threats.
• Investigating a suspected problem. Has inappropriate behaviour taken place? If so, what is the potential impact, is there a regulatory breach? Should you self report? We discuss the triggers that mean bringing in a third party, the steps taken during an investigation and difference rapid, assertive action can make.