Date/Time: 9:00 - 10:00am (EST), Monday, January 30, 2012Participant: John Frank, VP, Deputy General Counsel, Microsoft Corporation
In this session, John Frank outlined the current challenges and opportunities surrounding compliance programs to detect and prevent corruption and bribery by global businesses.
- The US Foreign Corrupt Practices Act (FCPA) is ranked by corporations as one of the top compliance priorities.
- In 2010, the US government issues over $4 billion in regulatory fines for corporate corruptive practices.
- In the global economy, bribery of foreign government officials has become a way of doing business that is in some countries legally acceptable.
- For those conducting business in the US, to stay compliant under the FCPA businesses must do three things: (1) Don't pay bribes to foreign government officials, (2) Maintain adequate financial records, and (3) Monitor and investigate behavior by your business representatives.
- How to create and maintain a business culture that is ethical in today's global economy: (1) Educate employees of what ethical behavior is and provide examples of real life ethical mistakes, and (2) Implement a business process to actively monitor and investigate potential corrupt behavior.
E-Discovery Beat's Key Takeaway
John Deere was presented with the Law Technology News Award for "Most Innovative Use of Technology in a Corporate Law Department" at LTNY's opening keynote address. Exterro's CEO, Bobby Balachandran was on hand to personally congratulate their client John Deere. Exterro takes extreme pride and value in this great partnership that was created between these two innovative and great companies.