Foreign Corrupt Practices Act Compliance in Joint Ventures and Consortia: Minimizing FCPA Risk
Course Details
- smart_display Format
On-Demand
- signal_cellular_alt Difficulty Level
- work Practice Area
International
- event Date
Thursday, December 2, 2021
- schedule Time
1:00 p.m. ET./10:00 a.m. PT
- timer Program Length
90 minutes
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This 90-minute webinar is eligible in most states for 1.5 CLE credits.
This CLE course will guide counsel for companies in international joint ventures (JVs) or consortia through effective compliance programs to minimize Foreign Corrupt Practices Act (FCPA) risks. The panel will examine the unique FCPA issues, offer best practices to mitigate risks, and review strategies for handling investigations.
Mr. Fishman provides regulatory, compliance, and transactional advice to clients in the life sciences, manufacturing, consumer products, and other industries on transportation, logistics, product distribution, and supply chain matters. He regularly provides advice on the legal and regulatory risk matters associated with public infrastructure and government contracting projects that are pursued through outsourcing arrangements, joint ventures, and public-private partnership transactions. He advises multinational clients across a range of industries on the Foreign Corrupt Practices Act (FCPA), trade sanctions, the False Claims Act, and other U.S. laws and regulations that apply to business activities within and outside the country.
Mr. Tillen is Vice Chair of the firm’s International Department. His practice focuses on matters involving the FCPA, money laundering, business and human rights, and other areas of international corporate compliance. He has significant experience with every facet of an FCPA enforcement matter, from inception to completion, including developing work plans for internal investigations, conducting internal investigations, developing remediation strategies, and negotiating resolutions. He has also conducted anti-corruption due diligence reviews and compliance audits.
Joint ventures and consortia present heightened risk under the Foreign Corrupt Practices Act (FCPA). Companies can be vicariously liable for bribes paid by their venture partners and the venture itself in certain circumstances. Moreover, under the FCPA's accounting provisions, public companies may be strictly liable for the internal controls of JVs.
In international JVs, unreliable partners must be identified early--and either avoided or carefully managed. Counsel to companies involved in international JVs must develop and implement tailored compliance programs and internal controls that reduce the risk of FCPA violations.
Given the potential for high fines and penalties, effective FCPA compliance must be a high priority when dealing with the unique complexities of consortia and JVs.
Listen as our panel provides counsel for companies in international JVs or consortia with guidance on effective compliance strategies to minimize FCPA risks. The panel will examine the unique FCPA issues, offer best practices to mitigate risks, and review strategies for handling investigations.
- FCPA risks and steps to minimize risk for JVs and consortia
- Unique risks
- Due diligence
- Board/management reviews
- Audits and approvals
- Right to terminate
- JV partners
- What to expect from JV partners
- Handling disputes with JV partners
- Compliance obligations in JV documents
- Best practices
- Investigation of the JV
- Disputes among JV partners
The panel will review these and other key questions:
- What FCPA due diligence is appropriate when selecting JV partners?
- What compliance obligations should be included in JV documents to minimize FCPA risk?
- How should companies address risk when holding a minority stake in a venture?
- What risks are posed by local content rules requiring partnerships with local companies?
- What are the key steps companies and counsel should take when a JV is subject to a government investigation?
- What does FCPA guidance issued by the DOJ and SEC reveal about JV risk?
