Financial services firms face increased pressures on anti‐corruption compliance

Abstract

Purpose

The purpose of this paper is to explain and emphasize the importance of compliance with the Foreign Corrupt Practices Act and similar anti‐corruption laws in force in other countries.

Design/methodology/approach

The paper cites renewed pressure to address corruption risks from regulatory and other sources, and recommends compliance steps a firm can take to reduce the risk of legal liability.

Findings

FINRA has identified FCPA compliance as an examination priority for 2009, the UK Financial Services Authority (FSA) has recently taken a high‐profile disciplinary action against a firm for inadequate training and due diligence as to bribery and anti‐corruption risks, and FCPA enforcement is expected to remain a priority for the Obama Administration.

Originality/value

The paper presents practical guidance from experienced securities lawyers.

Citation

Morley, M.T., Maletta, J.B., King, M.J., Hadley, R.V., Fader, M.J. and Saulnier, B.F. (2009), "Financial services firms face increased pressures on anti‐corruption compliance", Journal of Investment Compliance, Vol. 10 No. 3, pp. 34-36. https://doi.org/10.1108/15285810910995557