July 2011

So far, we’ve re-capped Alishan Naqvee’s introduction to anti-corruption laws, and Stuart Gerson’s comments on the US’s Foreign Corrupt Practices Act.  Following Stuart’s presentation, the group heard from Charles Wander of Fladgate LLP, who spoke about the new UK Bribery Act.

Charles began by saying that he would give a brief overview of what’s coming on July 1, 2011 in the UK.  As he had mentioned during an earlier session, the firm has been doing some work on this with their clients, trying to understand what the issues might be.  As Stuart had said, this is going to be applied on a worldwide basis, so it will be applied to anyone with any kind of tenuous connection with the UK.  

The UK was not without anti-bribery legislation – through the end of June they would have a piece of legislation dating back to the 19th century. It was ultimately felt that this didn’t have sufficient teeth.  The UK was criticized in 1997 by the OECD when the incoming Labour administration discontinued an investigation into alleged bribery by British Aerospace, as part of the Al Yamamah contracts in Saudi Arabia.  This was heavily criticized as being a decision made for political reasons.Continue Reading Corporate Breakout Session – Anti-Corruption Laws – UK Bribery Act

Yesterday, I shared with you this post re-capping Alishan Naqvee’s introduction to the topic of anti-corruption at our 2011 Annual Meeting.  To follow up on that, we’ll review Stuart Gerson’s (Epstein Becker & Green) comments during the session regarding the Foreign Corrupt Practices Act (FCPA) and its implications for those in the room.  

Stuart provided the attendees with both an article he and a colleague authored on the FCPA, and an overview that their healthcare group had developed.  Stuart said that as Alishan had mentioned, both the FCPA and the new UK Anti-Bribery law are extraterritorial – but not only are they applied overseas throughout the world, but they are also applied against non-US citizens, as long as the commerce that they’re supporting is in the stream of interstate commerce within the US.

So non-US citizens who have never stepped food in the US are subject to the FCPA, which is a criminal statute that has long jail sentences associated with it.  Additionally, they have fines up to $2 million per offense – and an offense is an individual act, so there could be a long series of them that results in the fines adding up to immense sums.  And this is applicable all around the world.Continue Reading Corporate Breakout Session – Anti-Corruption Laws – the FCPA

During our  2011 Annual Meeting in Lisbon, we had specialty group breakout sessions – and lucky for you, our corporate session was recorded! The group had a roundtable discussion dedicated to the topic of "Anti-Corruption Laws and Navigating Client Businesses in Foreign Territories," which was moderated by Alishan Naqvee of LexCounsel Lawyers in India.

Alishan began with some slides to aid the discussion, saying that there is an organization in Japan called Control Risks, who conducted a survey of about 50 companies in Brazil, France, Germany, Hong Kong, the Netherlands, the UK and the US.  All of them said that corruption is a major cost for international business, and at the same time, an increasing number of companies in the world, while they are not absolutely aware of the anti-corruption laws in their jurisdictions, most of their business is governed by them, even when doing business in other jurisdictions.

However, corruption brings a very different dimension in cross-border investments, because the country from where the investee is investing and the country where the investment is being made may be governed by separate parameters and laws.  These could be domestic, but at the same time, there could be laws from the country where the investment is being made.Continue Reading Corporate Breakout Session – A Re-Cap

Recently, when I was seeking out Ask Friday! questions, Cordell Parvin suggested that I answer the question of "What would you recommend busy lawyers be reading on business development and what will they get from it?"

Nothing immediately popped into my mind, and Cordell was nice enough to share his list with me, as well as what’s on his Kindle. Then, coincidentally, the same question appeared on the Legal Marketing Association’s listserv.  Those who responded were gracious enough to be included in my post, so without further ado, here is the recommended reading straight from legal marketers and business development coaches!Continue Reading Ask Friday! The Business Development Books Edition

Last week’s post covered the questions of what the panelists discussing social media are doing at their firms, and the challenges they’ve faced.  This week’s looks at their social media policies and the effect of the approval process in blogging. 

Social Media Policies

We next covered the question of social media policies, and whether firms are looking only at what their attorneys and staff are doing professionally, or also at their personal social networking habits.Continue Reading Social Media – What Are Mid-Sized Firms Doing?