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UK Financial Reporting Council confirms commitment to enforcement

As preparations continue for the overhaul of regulatory arrangements relating to corporate reporting in the UK, the Financial Reporting Council (FRC) continues to emphasise its high expectations of auditors and companies and its increasing readiness to take action where they are not met. At an event in London earlier this week, its Director of Corporate Governance, David Styles, confirmed that alongside its continuing work to encourage adoption of and adherence to the Corporate Governance Code and Stewardship Code, it is building its supervision and enforcement capacity.

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Two Recent Decisions Provide Rare Guidance on the FCPA's Reach Over Foreign Nationals

Time to Read: 1 minutes Practices: Anti-Corruption / International Risk, Government Enforcement / White Collar Criminal Defense

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Two recent district court decisions have shed light on the reach and scope of the U.S. Foreign Corrupt Practices Act (FCPA) over foreign nationals: SEC v. Straub and SEC v. Sharef. For companies and individuals operating abroad, these cases provide rare judicial guidance on the reach of the FCPA’s anti-bribery and record-keeping provisions. Together, they reaffirm U.S. regulators’ long-standing position that the FCPA has broad applicability to foreign nationals, while also setting the outer limits of the civil scope of the FCPA.

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