WHITEPAPER: Foreign Corrupt Practices Act for Turkish Companies
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WHITEPAPER: Foreign Corrupt Practices Act for Turkish Companies

By Michelman & Robinson, LLP & Cetinkaya

WHITEPAPER: Foreign Corrupt Practices Act for Turkish Companies

With Turkish entities and Turkish subsidiaries of U.S. companies facing the reality of a refocused enforcement landscape, two prominent law firms—Michelman & Robinson, LLP and Cetinkaya—have joined forces to provide enterprises across industries in Turkey with a comprehensive overview concerning compliance with the Foreign Corrupt Practices Act.

The Biden administration has declared combatting corruption "core" to U.S. national security interests. This objective will inevitably result in increased efforts to promote good corporate governance, bring transparency to the U.S. and global financial systems, and make it even more difficult for corrupt actors to shield their activities.

To achieve these goals, enforcement of the FCPA will surely be prioritized, not only by the Department of Justice and the Securities and Exchange Commission operating with enhanced enforcement resources but also with the coordinated assistance of other federal departments and agencies and increased anti-corruption investigative and enforcement cooperation between the U.S. and foreign government authorities.

As Turkey-based entities will be among those impacted by redoubled FCPA enforcement efforts, lawyers from M&R, a national U.S. firm with offices in Los Angeles, New York City, Chicago, and San Francisco, and Istanbul-based Cetinkaya have authored a recently published white paper titled "FCPA for Turkish Companies." The report is a resource guide to understanding the FCPA, how it is enforced, and compliance best practices.

The white paper covers a wide range of topics, including a detailed summary of the FCPA, exceptions to the law, and affirmative defenses available to those accused of violating it. In addition, the document covers mitigating factors, enforcement principles, and the criminal and civil consequences of misconduct that run afoul of the law.

Bradley Henry, a partner in M&R's White-Collar Defense & Investigations Practice Group in NYC and one of the lead authors of the white paper says, "we've worked hand-in-hand with Cetinkaya to educate companies in Turkey—U.S. subsidiaries included—about the FCPA in general and, more specifically, the importance of establishing compliance programs so that corruption can be detected or otherwise prevented before it occurs." He goes on to explain, "With the white paper, we've provided a succinct and detailed look at what entities need to know to navigate extra-territorial anti-bribery laws, including relevant statistics and a look at FCPA cases involving Turkey."

Kemal Altug Özgün, a partner at Cetinkaya and white paper co-author adds, "Ignorance of the FCPA and its reach is no excuse, which is why companies in Turkey must understand that if they operate in the international arena, FCPA compliance is a must in order to avoid civil and criminal liability." 

For those interested, the white paper can be found here. Henry, Özgün, and others from M&R and Cetinkaya will elaborate on the issues addressed in the white paper and others related to international risk at the invitation-only Second Annual Turkish Conference on the FCPA taking place on October 5 at the Four Seasons Hotel Istanbul at the Bosporus.

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