FCPA, UKBA and Other Four-Letter Words: Anti-Corruption Laws in a Global Economy

January 2012

Abstract

Few subjects receive as much attention in legal, compliance and accounting circles these days as the United States Foreign Corrupt Practices Act (the “FCPA”), the United Kingdom Bribery Act (the “UKBA”) and other foreign and international anti-corruption laws. However, while familiarity may breed contempt, presumed familiarity with anti-corruption laws is more likely to breed a regulatory investigation, subsequent regulatory proceeding, follow-on class action and derivative suits, and uninsured legal, accounting, consulting and settlement bills in the tens of millions to billions of dollars. The amount of attention paid to FCPA compliance and investigation defense issues is necessary because the incidence of anti-corruption issues and the costs of developing policies and procedures, conducting investigations and resolving regulatory inquiries and related court actions continues to escalate.

Authors

Machua Millett

Managing Director, Marsh USA, Inc., USA

M. Machua Millett is the SPAC and De-SPAC Pratice Leader at Marsh. He is a technical expert in litigation, enforcement and insurance relative to private to public transitions (IPOs, direct listings, SPAC IPOs and de-SPACS), private equity, venture capital and alternative investment funds. Mr. Millett has over a decade of experience as a securities litigator and insurance coverage attorney at Skadden Arps, Bingham McCutchen and Edwards Angell Palmer & Dodge, and another eleven years as an insurance broker. He is a graduate of Harvard Law School and is admitted to practice law in Massachusetts, Washington, D.C., and the Puerto Rico Federal District Court.

Susan Friedman

Area Vice President & Group Coverage Counsel, Arthur J. Gallagher & Co., USA

Susan F. Friedman is an insurance coverage attorney serving as Area Vice President for the Northeast Management Liability Practice of Arthur J. Gallagher. Throughout her career she has handled thousands of employment practices claims in addition to claims involving all other management liability insurance products (including cyber liability). She has been a Contributing Writer to the International In-House Counsel Journal (and served on the Editorial Board of the Insurance Section), The New York Law Journal, National Law Journal, Law360, and related publications. She has been quoted in Forbes, Law360, Business Insurance, among others. She has held claims counsel/advocacy, underwriting counsel and litigation positions. Susan is a graduate of Cornell University and New York Law School. She is admitted to practice law in New York.

Companies

Marsh USA, Inc.

Marsh is the world's largest insurance broker, and a member of the MMC family of companies. ,

Arthur J. Gallagher & Co.