Amendments to Canada’s Corruption of Foreign Public Officials Act (CFPOA) that came into force last week toughen penalties for foreign corruption.
The CPFOA makes it a crime in Canada to bribe foreign officials. Canadian companies operating abroad, particularly in emerging markets, need to be aware of the CFPOA. Key amendments include the introduction of nationality jurisdiction to the CFPOA, a new books and records offence, and increased sentences. [more] Full article
Corruption is endemic in many emerging economies. Recognising that some of these countries lack legal and political systems robust enough to root out corruption, the global fight against corruption relies on cutting off bribes at the source. An international Anti-Bribery Convention, championed by the OECD, requires countries to make it a crime to pay bribes to foreign public officials. [more] Full article