Aci Houston Due Diligence
Upcoming SlideShare
Loading in...5
×
 

Aci Houston Due Diligence

on

  • 757 views

FCPA Due Diligence for Third Party Agents used in ACI Houston FCPA Bootcamp

FCPA Due Diligence for Third Party Agents used in ACI Houston FCPA Bootcamp

Statistics

Views

Total Views
757
Slideshare-icon Views on SlideShare
703
Embed Views
54

Actions

Likes
0
Downloads
14
Comments
0

2 Embeds 54

http://www.linkedin.com 48
https://www.linkedin.com 6

Accessibility

Upload Details

Uploaded via as Microsoft PowerPoint

Usage Rights

© All Rights Reserved

Report content

Flagged as inappropriate Flag as inappropriate
Flag as inappropriate

Select your reason for flagging this presentation as inappropriate.

Cancel
  • Full Name Full Name Comment goes here.
    Are you sure you want to
    Your message goes here
    Processing…
Post Comment
Edit your comment

    Aci Houston Due Diligence Aci Houston Due Diligence Presentation Transcript

    • Uncovering Connections: A Third-Party Due Diligence Checklist
      Michael Volkov
      Partner
      (202) 263-3288
      mvolkov@mayerbrown.com
      January 2011
    • Purposes of the Due Diligence Checklist
      Screen the Initial Terms of Relationship with Third Party
      Review the creation of relationship, or any subsequent changes to responsibilities or countries where agent operates
      Establish procedure for centralized review of contracts to ensure consistent standards
      Depending on size of company, should establish review at highest level within the company
      Develop a Different Checklist for Review of Individual Transactions
    • Basic Issues to Cover
      • Existence of Relationships with Foreign Government Officials
      • Purchasing Authority
      • Licensing or other regulatory authorities
      • Prior History of Bribery and other Crimes
      • Nature of Services, Compensation and Payment Method
      • Written contract
      • Representations and warranties on compliance
      • Right to inspect and audit third-party books
      • Right to terminate contract if believe violation has or will occur
    • Guidelines for Due Diligence Checklist
      Do not over-standardize form
      Need to tailor to individual circumstances in each country based on risk
      Before the checklist is completed, need to conduct background check to determine (5-10 year history)
      Existence of ties to foreign government officials and employees
      Existence of any pending or prior investigations of bribery or other criminal conduct or civil violations
      Create written package and record of review and approval process to demonstrate compliance
      4
    • Make Sure Checklist Addresses Relationships with State-Owned Enterprises
      Justice Department interprets “foreign official” definition to include “state-owned enterprises”
      Justice Department has construed definition to apply to private companies in which government ownership stake is as small as 43 percent
      Out of abundance of caution, checklist threshold should be set at 20-33 percent
      5
    • Ryan MorganFCPA SpecialistWorldComplianceryanm@worldcompliance.com(305) 579-2298 x262