International Regulatory Enforcement

French Anticorruption Agency Issues Detailed New Guidelines for Compliance with Sapin II
The new French Anticorruption Agency recently issued a set of guidelines detailing the agency’s expectations for corporate compliance programs. The guidelines, which are not legally binding but are required by France’s Sapin II law, provide public and private commercial organizations with a framework for ensuring that their compliance programs adequately protect the organizations from corruption-related risks. The guidelines are also intended to help certain commercial organizations meet the statutory requirements of Article 17 of Sapin II, which requires certain French companies to adopt identified compliance program requirements. The AFA Guidelines are far more detailed than similar anticorruption compliance guidance documents issued by U.S. and U.K. authorities. Although many multinationals may have implemented compliance programs based on international best practices previously highlighted by the U.S., the U.K., and other authorities, such companies may wish to revisit elements of those programs in light of the AFA’s most recent guidance.
DOJ May Rely on FCPA Policy in Resolving Securities and Financial Fraud Cases
On March 1, 2018, senior DOJ representatives stated that the DOJ will use the Foreign Corrupt Practices Act Corporate Enforcement Policy as nonbinding guidance in non-FCPA criminal cases. This potential shift in approach could impact a corporation's determination as to whether, and how, to cooperate with the DOJ in criminal fraud investigations.