Law360 Quotes Manatt Partner on New FCPA Guidance
"FCPA Still an Enigma After New Guidance, Attys Say"
November 14, 2012 - Law360 quoted Manatt's Jacqueline Wolff, co-chair of the firm's Corporate Investigations & White Collar Defense Practice, on Foreign Corrupt Practices Act guidance that was recently issued.
Law360 reports that attorneys and corporations have long complained about supposedly vague points in the 1977 FCPA. And though the U.S. Department of Justice and U.S. Securities and Exchange Commission recently issued long-awaited federal guidelines, attorneys are still left with many questions. Industry experts said the guide didn't appear to draw bright-line tests for key FCPA provisions, but instead, it largely restated the government's position and offered broad tips.
Although the agencies laid out core principles for robust compliance programs, they noted that such programs must be tailored to each individual company and industry.
Wolff said that the guide failed to offer definitive solutions to issues that have long plagued the FCPA.
"You still have to put it into practice," she said. "That's where the rubber meets the road."
Read the article here.