An "Adequate Procedures" Defense: Just How Adequate a Defense?
The recent House Judiciary hearing on FCPA oversight focused on a proposal to enact an “adequate procedures” defense for corporate liability under the FCPA. How such a defense would work reminds me of the old adage – “the devil is in the details.” Many commentators have pointed to the UK Bribery Act defense of “adequate procedures” and the guidance that has followed. The Ministry of...