What is anything for value under the FCPA?

The term “anything of value” in the FCPA has been broadly construed to include not only cash or a cash equivalent, but also, among other things, discounts; gifts; use of materials, facilities or equipment; training and education; entertainment; meals and drinks; transportation; lodging, insurance benefits; promises of …

What is the minimum threshold value for anything of value under the FCPA?

Companies must keep in mind that the universe of potential bribes is virtually limitless: The government interprets the phrase “anything of value” broadly and the FCPA does not impose a minimum dollar threshold on gifts or payments.

What are the two primary aspects of the FCPA?

The FCPA has two primary provisions: (1) an anti-bribery provision which makes it unlawful for a U.S. company or citizen, and certain foreign issuers of securities, to make a corrupt payment to a foreign official for the purpose of obtaining or retaining business and (2) an accounting provision which requires companies …

Who is legally responsible under the FCPA for a bribe?

Who Is Covered by the FCPA? The FCPA applies to two broad categories of persons: those with formal ties to the United States and those who take action in furtherance of a violation while in the United States. U.S. “issuers” and “domestic concerns” must obey the FCPA, even when acting outside the country.

What is considered anything of value?

Anything of value means any money or property, favor, service, payment, advance, forbearance, loan, or promise of future employment, but does not include compensation and expenses paid by the state, fees and expenses which are permitted and reported under s.

When deciding whether a gift to a public official is anything of value?

The FCPA is a federal law, enforced by the U.S. Department of Justice, which prohibits payments, gifts, or even offers of “anything of value” to a “foreign official” for the purpose of influencing the official or otherwise “securing any improper advantage” in obtaining, retaining or directing business. 2.

What constitutes a bribe?

Bribery refers to the offering, giving, soliciting, or receiving of any item of value as a means of influencing the actions of an individual holding a public or legal duty.

What are some examples of Foreign Corrupt Practices Act violations?

Here are the four most common violations of the Foreign Corrupt Practices Act.

  1. You bribed a foreign business to secure a business contract.
  2. You bribed a doctor for endorsement.
  3. You bribed a foreign politician or official to increase business.
  4. Your company’s bookkeeping is questionable.

What is an example of something of value?

Examples of Something of value in a sentence Something of value enough to constitute consideration. Scrooge offers to buy Caspar’s motorcycle, worth $700, for $10 and a shiny new fountain pen (worth $5).

What is FCPA corrupt intent?

The FCPA prohibits payments made with “Corrupt Intent,” which includes intent to secure an improper competitive advantage; influence a foreign official in his official capacity; induce a foreign official to violate the law; or induce a foreign official to use their influence to assist in obtaining or retaining business …