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Wining and Dining Foreign Officials
In December 2007, Lucent Technologies Inc. secured a non-prosecution agreement from the Department of Justice (DOJ) and settled an enforcement action with the SEC for conduct related to travel and entertainment expenses incurred on behalf of Chinese government officials and for the manner in which these expenses were booked. The Lucent settlement adds to a number of existing guideposts regarding permissible interactions with foreign officials under the Foreign Corrupt Practices Act (FCPA). This article examines the Lucent settlement together with prior FCPA enforcement activity related to travel and lodging, and offers some practical advice for compliance counsel.
Reasonable and Bona Fide Expenses
The FCPA prohibits the bribery of foreign officials and efforts to obscure that conduct on the books and records of public companies. Specifically, the FCPA's anti-bribery provisions prohibit offers, payments, promises or authorizations to pay, any money or thing of value to any foreign official for purposes of influencing any act or decision in order to obtain or retain business. The accounting provisions require that public companies make and keep accurate books and records, and maintain internal controls sufficient, for example, to ensure that transactions are recorded as necessary to permit preparation of financial statements in conformity with generally accepted accounting principles.
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