World-Check (WC) have just released a new White Paper – “FCPA Prosecution: Lessons from Kay” – Written by FCPA practitioner Michael Osajda, the paper describes how two US executives were imprisoned for their part in a corrupt deal in Haiti.
United States v. Kay is one of the more interesting prosecutions under The Foreign Corrupt Practices Act of 1977 (FCPA) which involved the importing of rice into Haiti. One of the central holdings of the case supports an expanded scope for the FCPA and
may have significant implications for entities subject to the FCPA that are engaged in overseas business.
Any company doing business abroad should pay close attention to this interesting case against two corporate officers in the US.
You can download the White Paper by following this link:
- http://www.world-check.com/whitepapers/2010/.
- http://www.world-check.com/media/d/content_whitepaper_reference/Lessons_from_Kay_v.3_White_Paper_Mar10.pdf
This paper follws the January 2010 paper – The FCPA and why it matters (by Michael Osajda) –
This January paper explores the origins of the US Foreign Corrupt Practices Act (FCPA) and the effects of corporate corruption that led to its enactment. In addition to providing a succinct overview of the FCPA and why it matters, the paper highlights associated risks and the commonalities between ethical business practice and a sound compliance culture.
The Act, which became the global benchmark for antibribery legislation, has had significant implications for corporate business
and accounting practices. As more companies target international business contracts and regulation increases, offshore risk
management will only gain in priority on the corporate agenda. A deep understanding of the FCPA is the first requirement
towards fostering a sound compliance and corporate governance culture.
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