The U.S. Foreign Corrupt Practices Act (FCPA) of 1977 presents significant liability, risks, and compliance challenges for U.S. firms pursuing business opportunities in India. U.S. regulators have brought numerous FCPA enforcement actions based on business activities in India, including actions against companies such as Oracle, Tyco International, Dow Chemical Company, Pride International, Textron, and Diageo.
Foley attorneys David Simon and John Turlais partnered with Sherbir Panag, of New Delhi-based Panag & Babu (hyperlinked), to produce a white paper that serves as practical advice on doing business in India without incurring the legal liabilities that accompany well-meaning yet improper offers of money, gifts, or "anything of value" to Indian foreign officials. First published in 2014, the "Anti-Bribery and Foreign Corrupt Practices Act Compliance Guide for U.S. Businesses Doing Business in India" booklet has been recently updated and continues to be a valuable resource for global concerns and their legal and compliance officers. Topics in the Guide include:
- A brief primer on the FCPA and its components
- A summary of India's anti-corruption laws and regulations
- Typical risks associated with doing business in India
- Advice on effectively managing bribery risk in India
- A "top 10" list of tips for performing an effective anti-corruption investigation in India
Contact information for David Simon, John Turlais, and Sherbir Panag is also included, and interested readers are welcome to contact any or all of them with requests for further information. The white paper can be downloaded, free of charge, by clicking the link below.
Materials
Anti-Bribery and Foreign Corrupt Practices Act Compliance Guide for U.S. Companies Doing Business in IndiaThe content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
