LES EXAM 2 : Chapter 7 & 8
who is liable for nonbusiness crimes
only those involved in the planning or execution of the crime or assistance after its committed
the FCPA prohibits
making, authorizing or promising payments or gifts of money or anything of value to government and NGO officials with the intent to corrupt
major difference between nonbusiness and business crimes
more people can be convicted of business crimes
deferred prosecution agreements
negotiated settlements of criminal charges against a corporate defeder
FCPA was first passed in
1977
corprations face a penalty of ? for violating FCPA
2 million per violation
individuals who violate FCPA are subject to
250,000 in fines and up to 5 years in prison
how many members does the OECD have?
38
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the four eyes principle of internal control for the FCPA
all payments require 2 signatures
interbusiness crime occurs
among competitors and results in one business gaining a competetive advantage over others
the FCPA is the result of
an investigation by the securities and exchange commission
the FCPA contains
anti-bribery provisions as well as accounting controls
under CIAs, companies are
assigned monitors who follow up to make sure company doesnt commit any more violations
in exchange of a DPA,
company avoids prosecution
the foreign corrupt practices act is the most widely known
criminal statute that affects firms operating internationally
the FCPA was passed to
curb the use of bribery in foreign operations
CIA is a form of a
deffered prosecution agreement
sarbanes oxley makes sure companies have adequate systems for detecting
embezzlement
what individuals are covered under FCPA
foreign officials, political parties, party officials , candidates for occice, any NGO, those with the UN, olympics or IMF
the economic cooperation and development
has 38 members that work together to investigate companies activities across borders
the FCPA applies to business concerns that
have their principal offices in the US
whit collar kingpin law
imposes minimum sentences for corporate officers who mastermind financial crimes
the justice department published a resource guide for the foreign corrupt practices act that
includes the things companies can do that are not prohibited
Using a CIA,
judges can place corporations on probation
grease payments
payments to foreign officials for facilitation
shame punishment
public disclosure of an offense
key to establishing criminal liability
showing personal knoledge of wrongdoing
what countries actively enforce their anti bribery statutes
the US, Germany , norway and switzerland
under the alternative fines act,
the justice department can seek to obtain two times the benefit the bribe attempted to gain
payments to foreign officials for facilitation is not prohibitted so long as
the payments are made only to get the officials to do jobs that they would do slowly without the payment
who is covered under FCPA
this is whom gifts may not be directed
who is liable for business crimes
those in management who knew but did nothing, failed to act reasonable, or authorized the conduct
what is obtaining, retaining or directing business
winning contracts, influencing a procurement process, etc