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17 Stan. J.L. Bus. & Fin. 25 (2011-2012)
The Adequate Procedures Defense under the UK Bribery Act: A British Idea for the Foreign Corrupt Practices Act

handle is hein.journals/stabf17 and id is 27 raw text is: The Adequate Procedures Defense Under the UK Bribery Act: A British Idea for the Foreign Corrupt Practices Act Jon Jordan* Introduction ....................................................... 28 I.The Bribery Act and its Adequate Procedures Defense for the Failure to Prevent Bribery ....................................................29 A. Bribery of Foreign Public Officials.............................30 B. Corporate Failure to Prevent Bribery ............................31 C. The Adequate Procedures Defense to the Corporate Failure to Prevent Bribery............................................32 D. UK Guidance on Adequate Procedures under the UK Bribery Act...........33 1. Proportionate Procedures (Principle 1) ................. ...... 34 2. Top-Level Commitment (Principle 2) ................... ..... 35 3. Risk Assessment (Principle 3) ................... ............35 4. Due Diligence (Principle 4) .................... .............36 5. Communication and Training (Principle 5) ....................36 6. Monitoring and Review (Principle 6) ........................37 II.The Role of Compliance Procedures in the FCPA.........................38 A. The FCPA ................................................38 1. The Accounting Provisions ................................39 2. The Anti-Bribery Provisions....................................40 B. The Role of Compliance Procedures ......................42 1. No Compliance Procedures Defense under the FCPA .. ..........42 2. Compliance Procedures Taken into Account in Federal Mr. Jordan is a Senior Investigations Counsel with the Foreign Corrupt Practices Unit of the United States Securities and Exchange Commission (SEC). Mr. Jordan has held various po- sitions in the SEC's Miami and Washington D.C. offices. The Securities and Exchange Com- mission, as a matter of policy, disclaims responsibility for any private publication or statement by any of its employees. The views expressed herein are those of the author and do not neces- sarily reflect the views of the Commission, the Commission's FCPA Unit, or any of the au- thor's other colleagues on the staff of the Commission. 25