Chapter 3: A focus on third parties and related risk management strategies
The FCPA and related laws contain third-party payment provisions which prohibit the above core conduct from being accomplished indirectly through third parties. The upside of utilizing third parties – not just in connection with sales activities but other aspects of business as well – is they are efficient, understand the local business environment, and have relationships with key business actors. However, these attributes also represent a downside and third parties are often the single greatest risk to a compliance program. Accordingly, an important component of having “FCPA goggles” is understanding the FCPA’s third-party payment provisions and Chapter 3 develops this knowledge by highlighting legal authority and non-legal sources of information relevant to these expansive provisions and how they capture so-called willful blindness or conscious disregard of third-party conduct. To minimize the risk of engaging and maintaining relationships with third parties, Chapter 3 also highlights various compliance best practices spanning all three phases of a third-party relationship: pre-engagement best practices; engagement best practices; and post-engagement best practices. In addition, various template compliance documents are provided and you will also have a chance to assess your acquired knowledge of the third-party payments provisions through a real-world issue-spotting scenario.
You are not authenticated to view the full text of this chapter or article.
Elgaronline requires a subscription or purchase to access the full text of books or journals. Please login through your library system or with your personal username and password on the homepage.
Non-subscribers can freely search the site, view abstracts/ extracts and download selected front matter and introductory chapters for personal use.
Your library may not have purchased all subject areas. If you are authenticated and think you should have access to this title, please contact your librarian.