NEWSLETTER-2017

370 NEWSLETTER 2017 • Individuals may be subject to unlimited fines, and/or up to ten years’ imprisonment; • Companies may be subject to unlimited fines, and may be ex- cluded from public procurement exercises in the UK; and, • Directors may also be disqualified from acting as a director for between two and 15 years 6 . The FCPA The SEC and the Department of Justice are jointly responsible for enforcing the FCPA. The sanctions for FCPA violations can be significant, since the SEC may bring civil enforcement actions against issuers and their officers, directors, employees, stockholders, and agents for violations of the anti-bribery or accounting provisions of the FCPA. Companies and individuals that have committed violations of the FCPA may have to return these ill-gotten gains, plus pay pre- judgment interest and substantial civil penalties. Companies may also be subject to oversight by an independent consultant 7 . Conclusion While the UK anti-bribery regime is one of the strictest in the world, and is far broader in scope than the US regime of anti-corrup- tion enforcement, both the BA2010 and the FCPAhave extraterritorial application as regards international anti-corruption enforcement espe- cially in terms of the operational zone of the companies in question. Therefore, non-US and non-UK companies should also be cognizant of these regulations with respect to their international commercial transactions. Both the FCPA and the BA 2010, also in relation those third parties acting on behalf of the companies, their employees, board members or shareholders. 6 Lexis PSL, Corporate Crime, Bribery, corruption, sanctions and export con- trols; Bribery, Best practices in FCPA investigations — checklist, https://www. lexisnexis.com/uk/lexispsl/corporatecrime/document/391423/5MJN-2M81- F188-31GY 7 US Securities and Exchange Commission, Foreign Corrupt Practices Act, https://www.sec.gov/spotlight/foreign-corrupt-practices-act.shtml.