Expect 'Surge' in FCPA Activity This Year, Law Firm Says
Companies looking to comply with the Foreign Corrupt Practices Act should be prepared for a “surge” in government enforcement and activity this year after a relatively quiet 2021, Kramer Levin said in a December alert. Although the U.S.’s recent downward trend in FCPA enforcement activity continued last year with just 15 related actions, the Biden administration may have set the stage for increased enforcement during the rest of its term, the firm said. Not only did the administration recently announce several initiatives aimed at combating corruption -- including a new strategy to better curb illicit finance (see 2112060018) -- it also significantly added to the Department of Justice’s FCPA unit in March.
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Kramer Levin expects FCPA compliance to “soon grow more demanding,” and it will be more important for compliance programs to understand DOJ’s evolving expectations. “Ensuring FCPA compliance programs and training are aligned with DOJ guidance will help limit potential exposure, particularly as the regulatory landscape evolves and becomes increasingly global and the number of enforcement actions escalates,” the firm said.