United States DOJ/SEC Release Guidance On Foreign Corrupt Practices Act

Article by Mark Morrison, Michael Dixon, Paul Schabas and Jennifer Newton (Student-at-Law)

The U.S. Foreign Corrupt Practices Act (the FCPA) is widely regarded as landmark legislation in the combat of corruption around the globe. On November 14, 2012, the Criminal Division of the U.S. Department of Justice (the DOJ) and the Enforcement Division of the U.S. Securities and Exchange Commission (the SEC) took an unprecedented step in releasing A Resource Guide to the U.S. Foreign Corrupt Practices Act (the Guide).

The Guide provides useful information for companies considering anti-corruption merger and acquisition (M&A) due diligence. This guidance is relevant to Canadian companies with international operations, given the similarities between the FCPA and the Canadian Corruption of Foreign Public Officials Act (CFPOA) and the broad jurisdictional approach historically taken by the DOJ on FCPA matters.