Foreign Corrupt Practices Act: Don't Forget your Business in Korea

China Law Blog directed me to a great blog post on the U.S. Foreign Corrupt Practices Act. Michael Kohler's FCPA Professor blog has a great post in the form of a Q & A. The most significant sections are below.  

• When and why was the FCPA enacted?
• Has the FCPA been amended since 1977?
• What are the FCPA’s main provisions?
• Who is subject to the anti-bribery provisions?
• What do the anti-bribery provisions prohibit?
• What does “anything of value” mean? 
• What does “foreign official” mean?
• What does “obtain or retain business” mean?
• Does the FCPA have any exceptions or affirmative defenses?
• Can a third-party subject a company to anti-bribery violations?
• What do the books and records and internal control provisions prohibit?
• Which agencies enforce the FCPA?
• How do the enforcement agencies typically find out about FCPA issues?
• Why has FCPA enforcement increased?
• How are FCPA enforcement actions typically resolved?
• How are FCPA fines, penalties, and sentences calculated?
• Are companies that resolve FCPA enforcement actions “bad” or “unethical”?
• What about the bribe-takers?
• What is the FCPA Opinion Release Procedure?
• Do other countries have "FCPA-like" laws?

IPG Legal is advising all clients doing business in Bangladesh, Cambodia, China, Korea, Laos, Myanmar and Vietnam to read the post. 
__________
SeanHayes@ipglegal.com