The Cost of Corruption on Global Business

Washington, DC
06 February 2014
Hosted By: the American Society of International Law (ASIL)

The cost of corruption can extend well beyond fines and penalties, and also include lost business by way of sanction or debarment, reputational damage, and organizational turmoil. To examine the cost of engaging in corrupt behavior from several different perspectives, the American Society of International Law assembled a panel of experts in Washington, DC on 6 February 2014. Dr. Patrick Conroy, Senior Vice President and Chair of NERA's Securities and Finance Practice, was joined by Pam Parizek, Partner at KPMG Forensics and a former SEC enforcement lawyer, and Christine Stickler, Chief Ethics and Compliance Officer at Tyco Electronics. The panel discussed a number of issues, including the cost of an investigation by a regulatory agency to an organization; the cost of implementing an internal compliance program; the cost to a company when a competitor seeks to gain an advantage by engaging in bribery or corrupt activities; and the cost to the markets, the economy, and the public when the trust instilled in organizations to behave ethically is broken. Tim Coleman, Partner at Freshfields Bruckhaus Deringer, moderated the discussion.

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