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 into the promotional expense affirmative defense because the expenses are “reasonable under the circumstances and directly relate to the promotion, demonstration, or explanation of [TRACE’s] products or services.”
[…] Ms. Wrage takes us through the experiences of TRACE International in obtaining FCPA Opinion Procedure Release 08-03. […]
[…] Summer 2008 newsletter from TRACE International provides some more background on FCPA Opinion Procedure Release 08-03. TRACE points out that this release was the first time that the DOJ has approved the payment of a […]
[…] Mark A. Srere and Amy J. Conway-Hatcher of Morgan, Lewis & Bockius LLP wrote Legal Expenses for The Recorder (CAL LAW). The article compares the results of U.S. Department of Justice and SEC investigation against Lucent with FCPA Opinion Procedure Release 08-03. […]