Last week saw a significant Foreign Corrupt Practices Act (FCPA) enforcement action against employees of a US broker-dealer, who are alleged to have bribed a Venezuelan government official to direct brokerage to the firm. The case is one of only a handful of financial services industry FCPA enforcements and is a reminder of the government’s interest in extending the law’s reach to all economic sectors. This client publication summarizes recent events and provides suggestions on how the banking and finance sector can manage its FCPA risks.View full memo, "FCPA Broker-Dealer Case Highlights Compliance Risks for Financial Institutions"
