FCPA Opinion Procedure Release 04-04 was requested by a U.S. company proposing to fund a study tour of foreign officials who are members of a committee drafting a new law on mutual insurance, an industry in which the Requestor conducts business. In its request, the Requestor made the following representations: It has no business in
FCPA Opinion Procedure Release 06-01 comes from a company wanting to contribute money to a regional customs department or the Ministry of Finance in an African country as part of a pilot project to improve local enforcement of anti-counterfeiting laws. The Requestor seeks to make the monetary contribution to the Counterparty in order for the
FCPA Opinion Procedure Release 06-02 comes from a company looking to hire a law firm to help prepare foreign exchange applications and represent the company during the review process. The company plans to take steps to ensure that the law firm does not make any improper payments and to implement a variety of anti-corruption measures.
FCPA Opinion Procedure Release 07-01 comes from US company looking to bring delegates from an Asian country to the U.S. an educational and promotional tour of one of the requestor’s U.S. operations sites. The stated purpose of the visit is to familiarize the delegates with the nature and extent of the requestor’s operations and capabilities
FCPA Opinion Procedure Release 07-02 comes from a U.S. insurance company regarding the payment of expenses for foreign government officials coming to the U.S. for an educational program. The DOJ found the promotional expenses to fall within the promotional expenses affirmative defense of being reasonable under the circumstances and relate to the promotion, demonstration or
FCPA Opinion Procedure Release 07-03 comes from an individual who wants to make a payment required by an Asian court to cover litigation-related expenses payable to a court-appointed administrator. The Release notes that the payment is being made to a government entity, the court clerk’s office, rather than a foreign official. The FCPA only prohibits
FCPA Opinion Procedure Release 08-01 (.pdf) came at the request of an unnamed company who is planning to have a subisidiary purchase the majority interest in an investement target from a State Enterprise. The minority interest is held by someone who would be considered a “foreign official” under the FCPA.
FCPA Opinion Procedure Release 08-02 came at the request of Halliburton and its subsidiaries as they are looking to buy a UK well flow management company. They did not have enough time to complete the appropriate FCPA diligence on the target. Halliburton was concerned about inheriting FCPA liability as a result of its acquisition of
FCPA Opinion Procedure Release 08-03 was a request from TRACE International, Inc. on paying expenses for journalists from China to attend a press conference being held by TRACE in Shanghai. Most of the media outlets are wholly-owned by the People’s Republic of China. The opinion finds the stipend and expenses that TRACE intends to pay
As a real estate company, we restrict trading in real estate companies. What is the best way to maintain that list. One source is the NAREIT list of REITs and other publicly-traded real estate companies. This list is more exhaustive than the list of publicly traded REITs.