ANTICORRUPTION DEVELOPMENTS

DOJ Extends FCPA Corporate Enforcement Policy to Misconduct in Mergers and Acquisitions

On July 25, 2018, in a speech to the Ninth Global Forum on AntiCorruption Compliance in High Risk Markets, Deputy Assistant Attorney General Matthew Miner announced that the Department of Justice (DOJ) will extend its Foreign Corrupt Practices Act (FCPA) Corporate Enforcement Policy to mergers and acquisitions (M&A). The announcement confirms that, in a merger or acquisition, an acquiring or successor company that discovers and subsequently voluntarily reports potential misconduct, cooperates with any resulting investigation and takes appropriate remedial measures the acquiring company will be entitled to a presumption of nonprosecution and potentially lower monetary penalties. Miner noted that application of the FCPA Corporate Enforcement Policy to the M&A space is designed to encourage successor company "leadership to take the steps outlined in the FCPA Policy, and . . . to reward them accordingly for stepping up, being transparent, and reporting and remediating the problems they inherited."

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