Everyone Is Liable, Understanding the Roles, Risks and Responsibilities Related to the Foreign Corrupt Practices Act

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Oct 04, 2010, 05:00 ET

MIAMI, Oct. 4 /PRNewswire/ -- U.S. companies (known as issuers) with foreign subsidiaries or affiliates are responsible for the activities of those entities under the provisions of the Foreign Corrupt Practices Act.

In addition, a third party or agent acting on behalf of said issuer, domestic concern or foreign national or business is liable under the same conditions as the issuer, domestic concern or foreign national or business.

To help organizations understand the roles, risks and responsibilities related to the Foreign Corrupt Practices Act; WorldCompliance, the world's leading Open Source Intelligence Company announced the second in a series of FCPA oriented webcasts.

Read the paper

Michael Volkov is a litigation partner at the law firm of Dickinson Wright; he focuses on trial practice, white collar defense and complex internal investigations. Mr. Volkov is the author of "Navigating through the FCPA minefield, debunking myths and addressing red flags".

In the paper, Mr. Volkov discusses the seven common FCPA myths. In addition, he covers the top thirty red flags that organizations must be aware of to avoid FCPA sanctions. This is a critical document for any compliance officer, legal counsel or other executive concerned with implementing a solid FCPA program.

Sign up today!

Join them October 7th in a live online presentation where Mr. Volkov will discuss the highlights and trends contained within "Navigating through the FCPA minefield, debunking myths and addressing red flags".

He will be accompanied by Ryan Morgan, U.S. Sales Director and FCPA specialist for World Compliance. Mr. Morgan will discuss strategies for implementing a systematic due diligence process and how to navigate the red flags.

To register go to WorldCompliance FCPA Webinar

About Michael Volkov

He was a federal prosecutor for 17 years; a Chief Counsel on the Senate Judiciary Committee and the House Judiciary Committee; a Deputy Assistant Attorney General in the Department of Justice; and a trial attorney in the Antitrust Division. He has practiced in the District of Columbia for nearly 30 years. Mr. Volkov has extensive criminal trial practice – over 75 criminal jury trials.

About Ryan Morgan

Ryan is an FCPA specialist, offering clients insight on risk evaluation, implementing effective due diligence policies, as well as best practices in protecting their company's reputation. Ryan joined WorldCompliance in 2007 where he began servicing financial companies in the US and the Caribbean. Mr. Morgan has attended industry conferences focused on preventing corruption, money laundering, and terrorism financing all over the world. He has also participated in workshops where he consulted the US government on ways to fight drug trafficking in the US and Latin America.

About WorldCompliance

WorldCompliance has the most comprehensive database of individuals and organizations that may represent a risk to your organization's finances and reputation. Their solutions are used to identify entities linked to over twenty risk categories including state owned enterprises and foreign officials, terrorism, narcotics, money laundering, fraud, collateral crimes, and politically exposed persons.

Their database conforms to local anti-terrorism and money-laundering legislation, including The U.S. Patriot Act, FCPA, The UK Bribery Bill and is verified for compliance with the requirements of the Third EU Money Laundering Directive.

They protect more than 2000 clients worldwide, working in sectors such as brokerage, finance, government, insurance and manufacturing.

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SOURCE World Compliance, Inc.