The legal and financial risks associated with inadequate compliance with American and international law can be considerable, as demonstrated by the recent sanctions against BNP Paribas. These risks are by no means limited to matters of embargos against countries such as Sudan or Iran, but often arise in other areas, the first and foremost of which is corruption.
The United States (FCPA), the United Kingdom (UK Bribery Act), as well as large emerging countries (China, Brazil, Russia) and multilateral institutions, have substantially strengthened their anti-corruption arsenal. It is imperative that multinational companies fully understand the extent and impact of these changes.
The extraterritorial effects of legislation and the risks of heavy fines, criminal liability of senior management, and damage to brand reputation, represent a new era for businesses, where a concern for ethics and corporate social responsibility more broadly is no longer a sufficient safeguard.
As part of a seven session course organized by the Institut de l'École normale supérieure, Charles Duross will discuss the “implications of a corruption-related legal and PR crisis” on March 18. The seminar will offer a small group of senior executives and directors of large French and European corporations the opportunity to improve their knowledge of these complex subjects and to discuss them in a small group with eminent experts.