PT  - JOURNAL ARTICLE
AU  - Roger M. Witten
AU  - Kimberly A. Parker
AU  - Jay Holtmeier
AU  - Serena B. Wille
TI  - Anti-Bribery Considerations for Private Equity Firms and Investors
AID  - 10.3905/jpe.2010.13.4.058
DP  - 2010 Aug 31
TA  - The Journal of Private Equity
PG  - 58--72
VI  - 13
IP  - 4
4099  - https://pm-research.com/content/13/4/58.short
4100  - https://pm-research.com/content/13/4/58.full
AB  - The last few years have seen a surge in enforcement of the Foreign Corrupt Practices Act (“FCPA”). As of late-2009, U.S. Department of Justice (“DOJ”) officials said that there were approximately 130 open FCPA investigations, which are increasingly focused on the financial services industry. The activities of private equity firms and investors, as well as the activities of the portfolio companies in which they invest, can create significant FCPA risks for those firms and investors. This article provides an overview of the FCPA, describes the FCPA risks for private equity firms and investors, examines recent FCPA cases that illustrate the relevant FCPA risks, and suggests a range of effective compliance measures.TOPICS: Private equity, legal/regulatory/public policy, analysis of individual factors/risk premia, equity portfolio management