DALLAS – MAY 31, 2011
According to former Attorney General John Ashcroft, it is critical for any North Texas company engaged in international commerce to have a thorough knowledge of the Foreign Corrupt Practices Act (FCPA) and to implement a strong compliance program. This was the topic addressed at a breakfast forum on May 17, hosted by Wick Phillips, a full-service business law firm, and SNR Denton, a large, multi-national law firm. Ashcroft was the keynote guest speaker for the private forum.
Attended by prominent business leaders and attorneys throughout North Texas, the presentation was designed to educate those engaged in international commerce on the critical issues of FCPA rules and regulations. As addressed by Ashcroft, the Department of Justice (DOJ) and the Securities and Exchange Commission (SEC) have dramatically increased the number of FCPA investigations in recent years, and the number of civil and criminal cases involving multinational corporations and their management continues to grow. “Given that FCPA enforcement is a priority initiative of the Obama Administration, this forum provided timely and critical information for North Texas businesses,” said Bryan J. Wick, managing partner of .
Ashcroft also emphasized the immediate need for companies and their legal counsel to implement FCPA compliant programs, while warning that regulators are increasingly looking to hold companies liable for policies that don’t conform to the complex web of international laws and regulations.
“In today’s global economy, FCPA compliance touches just about everyone,” Wick noted. “Any multinational company doing business with foreign sub-contractors and other third parties – particularly if they have export control, financial controls or reporting issues – are vulnerable to regulatory scrutiny. John Ashcroft is a recognized expert in FCPA enforcement, and we feel privileged to help bring him to Dallas to discuss the regulatory issues facing companies that transact business on a global scale,” said Wick.
About Wick Phillips: Wick Phillips is a full service business law firm with offices in Dallas and Fort Worth. Its transactional section handles multiple M&A, financing, real estate, private equity and other commercial matters for a variety of clients. For more information visit www.wickphillips.com.
