Che Odom, 11/25/15
As cooperation on anti-corruption enforcement increases among countries, so does the ability of regulators to “forum shop,” which complicates matters for companies, Randy Stevens, a compliance attorney and vice president of NAVEX Global, said Nov. 17.
The Securities and Exchange Commission and Department of Justice “are really touting the cooperation they are receiving from foreign governments, sharing information and providing access to data,” Stevens, who advises large companies on compliance programs, said during a webinar.
“So that opens up the potential for some forum shopping” where regulators may coordinate among themselves as to when and how to enforce their anticorruption laws against alleged wrongdoers, he said.
The risk of international forum shopping is increasing as more countries, such as Brazil, China and Russia, have enacted or enhanced their anti-bribery laws, Steven said. New regulation and cooperation among countries has led to more enforcement actions, making compliance programs ever more important, he continued.