Chapter 5: The FCPA’s books and records and internal controls provisions
The FCPA has always been a law much broader than its name suggests. The anti-bribery provisions that were the focus of Chapters 2–4 are just one prong of the FCPA. The other prong, applicable to “issuers” (FCPA-speak for publicly traded companies or those subject to SEC regulation), is the books and records and internal controls provisions. These provisions operate independently of the anti-bribery provisions and are among the most generic and flexible legal provisions one can possibly find. Because of this and how these provisions are currently enforced, the books and records and internal controls provisions are a potent supplement to the more glamorous anti-bribery provisions. Chapter 5 highlights legal authority and non-legal sources of information relevant to the books and records and internal controls provisions and demonstrates through actual enforcement actions the wide range of circumstances in which the enforcement agencies use these flexible provisions to also address allegations of foreign bribery or similar conduct. Like in previous chapters, you will also have a chance to assess your acquired knowledge through a real-world issue-spotting scenario.
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