Releases

A new study reveals that the Foreign Corrupt Practices Act passed in 1977 has led to the prosecution of more than 200 cases in 80 countries and more than $4 billion in sanctions. Almost half of those financial penalties relate to the energy sector. "Energy is hardest hit with FCPA investigations because you have to go where the oil and gas are," says Bill Katz of the Dallas office of Thompson & Knight. "Those resources often happen to be in places where corruption is common and, unfortunately, bribery is still considered part of the way of doing business." But there is increasing pressure on Congress from business organizations calling for clarifications to the 34-year-old law. "There is still substantial confusion regarding what is acceptable and what isn't, and signs that the DOJ will introduce new detailed guidance sometime in 2012." For more information, contact Barry Pound at 800-559-4534 or barry@androvett.com.