Foreign Corrupt Practices Act und Due Diligence

FCPA Compliance and Ethics Blog; The task of where to begin a full compliance and ethics program can often times appear quite daunting. Most US companies fully understand the need to comply with the FCPA. However most companies are not created out of new cloth but are ongoing enterprises with a fully up and running business in place. They need to bring resources to bear to comply with the FCPA while continuing to do business. This can be particularly true in the area of performing due diligence on foreign business partners or vendors in the supply chain. Many companies understand the need for a robust due diligence program to investigation third parties, but have struggled with how to create an inventory to define the basis of risk of each foreign business partner and thereby perform the requisite due diligence required under the FCPA.

In a recent Compliance Week webcast entitled “Getting Unstuck, Tactics for Defining and Executing Systematic, Risk-Based Third Party Due Diligence for FCPA Compliance”, Diana Lutz, Managing Director and Chief Compliance Officer of the Steele Foundation discussed mechanisms to utilize to assist an enterprise setting parameters to perform due diligence on foreign business partners such as agents, resellers, distributors, joint venture partners and any other such entities which might represent a US based company internationally. Her presentation presented concrete steps to take to allow businesses to ‘get their arms and heads around’ what they need to do and how to go about doing it in this area.

The initial step was to conduct a risk inventory ...

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