U.S. and P.R.C. Anti-bribery Laws: Regulation, Risk and Prevention in the Life Sciences Industries

With the dramatic increase in globalisation in the 21st century, businesses are facing a corresponding increase in corruption concerns when expanding overseas. In the US, the number of bribery related enforcement actions initiated by the Securities and Exchange Commission (SEC) and Department of Justice (DOJ) in the last seven years has far exceeded the total number of such enforcement actions initiated in the first 23 years after the Foreign Corrupt Practices Act (FCPA) was first adopted. These actions have been marked by record corporate fines and penalties and the imposition of independent monitors, as well as a notable willingness by US prosecutors to pursue enforcement actions against foreign based companies that violate the FCPA.

This chapter was first published in the PLC Cross-border Life Sciences Handbook 2007/08 and is reproduced with the permission of the publisher, Practical Law Company.