As stepped-up enforcement efforts of global anticorruption laws continue, proposals for reform of the Foreign Corrupt Practices Act ("FCPA") have gained prominence in recent months, including a Congressional hearing that focused on the possibilities for and consequences of reform. As the economy continues to struggle in its recovery, Congress and enforcement agencies would do well to consider the positive impact that FCPA reform could have on economic growth. In a recent article in the National Law Journal, George Terwilliger discusses several possible reforms for the FCPA, including a "safe harbor" provision that would allow adequate time for due diligence of FCPA compliance issues when companies acquire a new entity. Such reforms could, while serving the underlying goals of the FCPA to deter and punish corrupt business practices, provide the business community with some much needed certainty and encourage growth in the lagging US economy.
Click here to download PDF.
This publication is provided for your convenience and does not constitute legal advice. This publication is protected by copyright.
© 2011 White & Case LLP