Does FCPA apply to nonprofits?

Does FCPA apply to nonprofits?

Foreign Corrupt Practices Act (FCPA) The FCPA applies to “all US persons,” including small businesses like nonprofits, and is enforced by the US Department of Justice and the Securities and Exchange Commission (SEC). It is comprised of two components: anti-bribery and accounting.

What does the FCPA extraterritorial?

United States enforcement of the Foreign Corrupt Practice Act’s (“FCPA”) anti-bribery statutes has been scrutinized since Jimmy Carter signed it into law in 1977. The FCPA has an extraterritorial jurisdictional reach, meaning its provisions can apply to individuals outside of the United States.

What is FCPA and UKBA?

Major Differences Between FCPA And UKBA The UKBA, unlike the FCPA covers bribery of private individuals and companies as well as foreign public officials, and does not permit an exception to facilitation payments from its definition of the offence of bribery.

What is the FCPA and what does it prohibit?

The Foreign Corrupt Practices Act (FCPA), enacted in 1977, generally prohibits the payment of bribes to foreign officials to assist in obtaining or retaining business. The sanctions for FCPA violations can be significant.

Are facilitation payments legal?

Facilitation Payments In some countries, it is customary to provide small unofficial payments, but the practice is illegal in most countries. Companies that do not transparently include facilitation payments in their reporting can be held legally accountable under the regulations that provide exceptions for such sums.

What is FCPA stand for?

Page 1. Foreign Corrupt Practices Act (“FCPA”) OVERVIEW. The Foreign Corrupt Practices Act (“FCPA”) was passed in 1977 in an effort to address concerns over the integrity of U.S. markets after hundreds of U.S. companies admitted to paying over $400 million to foreign government officials.

How is UK antibribery law different from FCPA?

The UK Bribery Act imposes more severe penalties and is broader in scope than the FCPA, covering bribes to private parties as well to foreign officials. The UK Bribery Act also prohibits being bribed, not just giving bribes.

Is Panalpina liable under the FCPA?

As to a U.S. nexus of these payments (a nexus necessary to find Panalpina, a foreign based non-issuer company, liable under the FCPA) you will find that the information alleges one e-mail and one conference call in which a certain Nigerian payment was discussed.

What is Panalpina Nigeria Limited?

Panalpina World Transports (Nigeria) Limited (“Panalpina Nigeria), a majority-owned subsidiary and agent of PWT until 2008 located in Lagos, Nigeria that was an “affiliate of Panalpina U.S. and provided a wide variety of services for Panalpina U.S.’s customers”;

Who is Panalpina World Transport?

The Securities and Exchange Commission today charged the U.S. subsidiary of Panalpina World Transport (Holding) Ltd. (PWT), a global freight forwarding and logistics services provider based in Basel, Switzerland, with violating the Foreign Corrupt Practices Act (FCPA) by bribing foreign officials around the world on behalf of its customers.

Is Panalpina charged with violating the foreign currency practices act?

SEC CHARGES PANALPINA WITH VIOLATING THE FOREIGN CORRUPT PRACTICES ACT. The Securities and Exchange Commission today charged the U.S. subsidiary of Panalpina World Transport (Holding) Ltd.