SLASSCOM forum to share insights on global anticorruption compliance

As a service to the local business community, the Sri Lanka Association of Software and Service Companies (SLASSCOM) Legal Centre of Excellence is hosting an introduction to international anticorruption compliance specifically tailored to the concerns of local firms exporting or looking to export to the international market.

It will be held on 20 February from 5:30 p.m. to 7 p.m. at the Dialog Auditorium, Excel World Entertainment Park, 338 TB Jayah Mawatha, Colombo 10.

The presenter will be Albert Kim is Legal Director at LegalBase. Albert is a US-licensed lawyer and former US Government regulatory enforcement attorney. He is a specialist in commercial litigation, antitrust issues, anticorruption compliance and corporate investigations. Albert co-authored the American Chamber of Commerce in Sri Lanka’s Basics of the US FCPA for Sri Lankan Companies.

SLASSCOM said complying with international anticorruption laws is one of the top concerns facing corporate compliance departments today. The United States Foreign Corrupt Practices Act (FCPA) and more recently, the UK Bribery Act impose significant criminal and civil penalties for violations. Fines range from hundreds of thousands to hundreds of millions of dollars, and the investigation costs often are enormous.

The FCPA and the Bribery Act reach far beyond US and UK borders. Many of the largest FCPA fines have been imposed on companies located outside the United States. In addition, multinational companies with business partners located in certain regions are protecting themselves by investigating existing and potential business relationships. These include distributors, suppliers, agents, joint venture partners, consultants and other business partners. Local companies looking to grow internationally need to be aware of these critical international compliance standards and assess how they should best respond, SLASSCOM added.

Participation at the event is by prior registration. Cost: Rs. 500 for SLASSCOM members, Rs. 1,000 for non-members. Registration-SLASSCOM Corporate Office [email protected]/+94117884460.

SLASSCOM acts as the catalyst of growth for the Sri Lankan IT and BPO industry by facilitating trade and business, propagation of education and employment, encouragement of research and innovation, and by supporting the creation of a progressive national policy framework.