Ethics in the News:
Kaplan EduNeering's Joel A. Rogers Named a "Millstein Rising Star of Corporate Governance" |
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 June 9, 2008 - Princeton, New Jersey - Kaplan EduNeering, a leading provider of compliance and knowledge management solutions, is proud to announce that Joel A. Rogers has been named a "Millstein Rising Star of Corporate Governance."
This award is presented by the Millstein Center for Corporate Governance and Performance at the Yale School of Management, and recognizes young professionals in the field who are making an impact as outstanding analysts, experts, activists, or managers. Candidate criteria includes past accomplishments and thought leadership; future projects and endeavors; reputation among existing industry leaders; and potential to influence the industry in the future. The honorees were all nominated by a member of the governance community and were honored during a reception at the Yale Governance Forum on June 9, 2008.
Read the full press release >> |
| Ethics Alert: "Mission Possible"
Developing in-house counsel's role in the fight against global corruption. |
A recent article by Susan F. Friedman (senior vice president, claims advocate and the practice leader of the employed lawyers professional liability insurance practice of Marsh) focuses on the anti-bribery provision of the FCPA, and
data pertaining to corruption, targets, compliance, and protections,
all with a view toward assisting in-house counsel in examining their
potential exposure and role.
Friedman also explores how historically, as the global economy has experienced rising prices in the food and energy sectors, the level of corruption has increased in step with panic and avarice. And, for many individuals and corporations, the most significant form of corruption has been bribery, which may come in the way of cash, jewelry, all-expense-paid vacations, artwork, wines, or gift certificates. This form of corruption is in direct violation of the Foreign Corrupt Practices Act of 1977 (FCPA) and its anti-bribery provisions. Read the full article >>
Source: "Mission Possible", Author: Susan F. Friedman, Publication: New York Law Journal, Publisher: ALM Media, Inc., Date: Jun 19, 2008 |
| Ethical Q&A Scenario: FCPA
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 I paid a facilitating payment to the utility service in Calcutta. It was the only way that I could have the office phone installed within six weeks. It was a small amount so should I just list it on my expense report as a business lunch so that no one will know that I made a payment?
Small facilitating payments for services such as the one you made are allowed by the FCPA. What is NOT allowed is any false representation of that payment. Always describe expenses exactly as they are. Our company records must always be accurate and timely. If you question if a payment is legal or not, get advice from legal or the Ethics Office prior to making a payment or taking an action.
Source: Ethics Communication Coach, Q4-2007 |
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The Facts On: FCPA
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:: Criminal penalties for violating anti-bribery provisions for corporations include a fine of up to $2 million; directors, officers, employees, stockholders and agents are subject to a fine of up to $100,000 plus up to 5 years imprisonment.1
:: The FBI has four full-time agents dedicated to FCPA probes. 2:: The DOJ employs more than a dozen FCPA prosecutors. 3:: In 2007, the SEC and DOJ imposed more than $135 million in fines, penalties, and disgorgement against corporations for violations of anti-bribery provisions. 4:: In 2007 and now in 2008, FCPA has eclipsed Sarbanes-Oxley as the primary concern for corporate general counsel. 5:: According to the U.S. Federal Sentencing Guidelines Chapter 8 Part B (2005)...penalty reductions for companies of up to 95 percent are available provided that an effective compliance and ethics program is created and implemented. 61. U.S. DOJ "Lay Person's Guide to FCPA,"
http://www.usdoj.gov.
2. Susan F. Friedman, "Mission Possible", New York Law Journal, Jun 19, 2008.
3. See note 2.
4. See note 2.
5. Kroll Global Fraud Report Annual Addition 2007/2008.
6. U.S. Sentencing Guidelines, Ch.8B2.1 (2005). |
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