Last year, fashion powerhouse Ralph Lauren Corporation (RLC) agreed to pay $1.6 million to the United States Department of Justice (DOJ) and United States Securities and Exchange Commission (SEC) to resolve allegations of misconduct under the Foreign Corrupt Practices Act (FCPA). RLC allegedly bribed government officials in Argentina to obtain improper customs clearance of merchandise and for illicitly providing expensive gifts to Argentine officials to secure the importation of RLC's products into Argentina.
As retail and fashion companies expand into foreign markets, it's important for them to note factors that can pose dangers to their companies in relation to the FCPA.
In the first of a two-part episode of Fashion Counsel, Anthony Lupo talks with partner Stephen G. Larson about what fashion companies need to know about the FCPA.
Fashion Counselis Arent Fox's online resource for legal news, analysis, and event information. It offers new video features monthly addressing topics and issues of interest to the fashion industry including designers, retailers, and manufacturers of luxury goods.
About the Fashion, Luxury Goods & Retail Group
Arent Fox tailors counsel to meet the daily needs of fashion and luxury-brand companies. Comprised of 28 seasoned attorneys who represent the world's top high-end manufacturers and retailers, the Fashion practice serves as outside general counsel and regulatory and retail counsel to internationally known brands.
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