What is it?
The Foreign Corrupt Practices Act (“FCPA”) is a law that prohibits the bribery of foreign officials and requires a company to keep accurate books and records and maintain adequate internal accounting controls.
Why is it important?
As NIDEC’s business continues to develop overseas, it faces increasingly sophisticated challenges from government officials, business partners, agents and consultants whose actions can embroil it in scandal and expose NIDEC and its subsidiaries to enormous liability.
Civil and criminal liability for individuals and companies – U.S. Justice Dept. (DOJ) and Securities and Exchange Commission (SEC).