Interactive Session on FCPA on January 23, 2014, Hyderabad

An Interactive Session on FCPA was held on January 23, 2014, with Mr. Rajiv Khanna, Seyfarth Shaw LLP, USA and Mr. Sandeep Baldava, Ernst & Young LLP at C A India Campus, Hyderabad.

 

Mr. Rajiv Khanna, a Senior Partner of Seyfarth Shaw LLP, discussed the latest developments in the US around FCPA (“Foreign Corrupt Practices Act, 1977) and Corporate Governance that impacts global operations of US Companies.  The session highlighted the stringent view taken by the regulators across the globe on non-compliance and there was also a discussion on what constitutes proper and improper gifts, travel and entertainment expenses; the nature of facilitating payments, as mentioned in the Resource Guide to the U.S. Foreign Corrupt Practices Act.

 

Mr. Sandeep Baldava, Partner & Leader (South) – Fraud Investigation & Dispute Services, Ernst & Young LLP provided an update on some latest case studies, key regulatory developments in India on anti bribery front and practical issues around non-compliance. The session also covered importance of undertaking diagnostic reviews/FCPA compliance risk assessment to proactively reduce risks of non-compliance.