United States: Justice Department Issues Rare FCPA Opinion Letter

The U.S. Justice Department issued a rare Foreign Corrupt Practices Act opinion letter, saying it doesn’t intend to bring an enforcement action against a U.S.-based investment adviser for a fee the company planned to pay to a foreign government entity for services.

The letter, issued by the department in response to questions from a company regarding a prospective transaction, has no binding application to other cases. But it highlights an avenue of communication through which companies can seek the department’s opinion on planned conduct that might raise bribery concerns.

The FCPA prohibits U.S. companies from giving or offering anything of value to foreign public officials to win business. The FCPA opinion procedure has been in place since at least the early 1980s, but hasn’t been widely used in recent years, department records indicate.

The original full article can be found at wsj.com

(Picture: ALASTAIR PIKE/AGENCE FRANCE-PRESSE/GETTY IMAGES)

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