(Client Alert excerpt) This year has been a watershed in terms of Canada’s enforcement of its Corruption of Foreign Public Officials Act (“CFPOA”):
• In January 2013, a record fine of CAD 10.35 million (USD 10.27 million) was imposed on Griffiths Energy International (“Griffiths Energy”), now known as Caracal Energy Inc., for paying a USD 2 million bribe in order to secure lucrative oil contracts in the Republic of Chad. This was the largest fine Canadian authorities have secured in a foreign corruption case, and Griffiths Energy was the first company to self-report international bribery.
• In June 2013, the Canada’s federal parliament enacted several amendments that broadened the range of conduct that the CFPOA prohibits, increased the maximum penalty for violations, and expanded the jurisdiction of Canadian law enforcement to prosecute corruption by Canadian companies and individuals abroad, among other changes.
• On August 15, 2013, the first individual ever was found guilty under the CFPOA. This conviction was significant both because all prior convictions under the Act were against corporations, and because of the implications for jurisdiction over individuals as well as corporations under the amended CFPOA going forward.
The entire client alert memo:
http://bdti.mastertree.jp/f/pi16gmyc
The Board Director Training Institute (BDTI) is a "public interest" nonprofit in Japan dedicated to training about directorship, corporate governance, and related management techniques. It is certified by the Japanese government to conduct these activities as a regulated nonprofit. Read a summary about BDTI here, and see a menu of its services for both corporations and investors here.