Foreign Corrupt Practices Act
Foreign Corrupt Practices Act enforcement in Financial & Capital Markets sits squarely under the jurisdiction of the U.S. Securities and Exchange Commission and the U.S. Department of Justice, both of which have sustained FCPA action against broker-dealers, asset managers, and financial intermediaries for conduct ranging from improper payments to foreign officials to failures in third-party due diligence. The SEC's 2020 Resource Guide update and the DOJ's Corporate Enforcement Policy both set specific expectations around self-disclosure and compliance program adequacy that financial institutions cannot treat as background reading.
Watch
- DOJ Corporate Enforcement Policy: self-disclosure credit terms and how they apply to financial intermediaries
- Third-party payment controls: regulators are scrutinizing finder and referral arrangements with foreign state-linked entities
- SEC disgorgement authority post-Liu v. SEC: how clawback calculations are being applied in FCPA settlements
- Correspondent banking relationships flagged as FCPA vectors in recent DOJ declination letters
- Anti-corruption compliance program adequacy: DOJ's specific hallmarks checklist for broker-dealer contexts
Recent material activity in Financial & Capital Markets
Active monitoring in place across Financial & Capital Markets. Material developments related to foreign corrupt practices act will appear here as they are published.