Business Corruption and FCPA Issues in China


Instructor: Craig M Taggart
Product ID: 706284

  • Duration: 90 Min
In a recent Wisconsin Law Review article, "China under the Foreign Corrupt Practices Act," the speaker discussed several major issues under the FCPA that concern MNCs doing business in China. This webinar will summarize the findings.
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Why Should You Attend:

Given the frequency with which these scenarios arise in China, MNCs need to deal with FCPA risks now by immediately implementing an effective on the ground FCPA compliance program in China. To be clear, the purpose of the program is not to teach the FCPA to employees; most employees in China business entities owned by MNCs would admit, if they were being honest, that they do not really care about the FCPA or that their conduct might cause the MNC to be in violation of the FCPA; what they do care about is being fired.

A compliance program must clearly set forth what is acceptable behavior, what is not, with many examples, and the consequences for failing to observe the rules, including termination. Then the rules must be strictly enforced. China's rise as a global economic power and its culture, which tolerates many forms of corruption in business, indicate that many more FCPA cases involving China will rise in the future. MNCs need to take forceful measures now to avoid problems that may arise later.

As China continues its ascent as a global economic power, issues involving China under the Foreign Corrupt Practices Act, (FCPA) have emerged as major business problem for multinational companies (MNCs).

The FCPA prohibits the giving of anything of value, e.g. the payment of bribes, to foreign officials for the purpose of obtaining or retaining business. The U.S. Department of Justice (DOJ) has adopted aggressive interpretations of the statute that apply with particular force to China. There are three significant issues: the meaning of "foreign official", the meaning of "anything of value"a and the use of third parties that make pass through payments to Chinese officials. The most significant issue under the FCPA is the expansive definition of "foreign official."

This webinar will summarize the findings of the recent Wisconsin Law Review article, "China under the Foreign Corrupt Practices Act,". Those who wish a more in-depth look should consult the article, which offers many more examples than there is room to discuss here.

Learning Objectives:

  • Why corruption is a big issue in China
  • Tips for spotting corruption / FCPA issues
  • Corruption risks associated with doing business in China
  • FCPA issues and strategies related to mergers and acquisitions, as well as on-going operations
  • Compliance program essentials and best practices
  • Appreciating the root causes of why companies often become the subject of FCPA scrutiny as well as the typical origins of FCPA enforcement actions

Areas Covered in the Webinar:

  • When and why was the FCPA enacted?
  • What are the FCPA's main provisions?
  • Has the FCPA been amended since 1977?
  • Who is subject to the anti-bribery provisions?
  • What does "foreign official" mean?
  • What does "anything of value" mean?
  • What does "obtain or retain business" mean?
  • Does the FCPA have any exceptions or affirmative defenses?
  • What do the books and records and internal control provisions prohibit?
  • Which agencies enforce the FCPA?
  • Why has FCPA enforcement generally increased?

Who Will Benefit:

  • Legal Profession, Governance, Risk and Compliance Officers
  • Law Enforcement
  • Department of Justice
  • Securities Professionals
  • Chief Financial Officers
  • Regulators
  • CPA's
  • Auditors
  • Fraud Professionals
Instructor Profile:
Craig M Taggart

Craig M Taggart
Managing Director, BCC Capital Partners

Craig Taggart has almost a decade of experience in the fields of mergers and acquisitions and business financing. Mr. Taggart works strategically with his clients to achieve the highest value for their business within the capital markets. His experience with BCC Capital Partners in the M&A industry has greatly contributed to his understanding of transaction structure, strategic placement of buyers, and the attainment of maximum market value for his clients. He has represented and sold many businesses in a number of different industries and has significant experience working with companies in: continuing education, transportation, software and professional services. Mr. Taggart is currently working in the clean energy sector that covers multiple initiatives within M&A and corporate development.

He is a certified merger and acquisition advisor, accredited valuation analyst as well as an active member of Alliance of Mergers and Acquisition, and The National Association of Certified Valuators and Analysts (NACVA). His knowledge and expertise also extends to systems such as: Software as a Service (SaaS), and ERP and CRM systems (Netsuite, Salesforce, Sage 100, 500, X3 ERP). Mr. Taggart has been a certified fraud examiner since 2011 and has previously worked at Deloitte with their quality risk management team.

He earned his MBA from the San Diego State University specializing in financial management. Mr. Taggart graduated from the California State University Northridge with a bachelor’s degree majoring in organizational psychology.

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