(1) New Department of Justice (DOJ) guidance on the FCPA expected later this year to address a range of issues important to corporate compliance programs.
(2) Lawmakers appear content to await the new guidance before introducing legislative reforms.
(3) A period of repose in which post-acquisition due diligence could be conducted would facilitate economic growth at home and abroad while ensuring improper conduct is discovered and corrected.
A growing number of US businesses, attorneys and lawmakers have called for reforms to the US Foreign Corrupt Practices Act("FCPA") and the current anti-corruption enforcement regime over the past two years. Despite the broad range of advocates and bipartisan interest for reform on Capitol Hill, whose consideration of possible reform included a hearing in June 2011 before the House Subcommittee on Crime, Terrorism, and Homeland Security, legislation to amend the FCPA has yet to be introduced. Instead, lawmakers appear content to await the DOJ's new guidance on the Act, which was announced in November 2011 and is expected to be released later this year.