By Jim Butler and the Global Hospitality Group®
Hotel Lawyers | Authors of www.HotelLawBlog.com
15 November 2012
Hotel Lawyer with the new “Resource Guide to the U.S. Foreign Corrupt Practices Act”
In the last few years, a lot of hotel transactions have been completed in foreign countries or involving foreign investors. The significance of international hotel transactions has soared and many businesses have found that some of the most attractive opportunities involve crossing international borders.
On November 14, 2012, the US Department of Justice (DOJ) and the Securities & Exchange Commission (SEC) issued a 130-page document which is the most comprehensive effort by these agencies to provide long-awaited guidance to respond to complaints from companies that have complained about the ambiguity of the Foreign Corrupt Practices Act (FCPA).
The article below is by hotel lawyer Bob Braun, a senior member of JMBM’s Global Hospitality Group®, who has been spending more of his time lately representing owners, developers and investors in international investments and transactions involving hotels, resorts, mixed-use developments and other hospitality-related projects. In this article, he reminds us why the FCPA should always be at the top of our minds when we pursue international transactions, as he gives us the background on the FCPA and the significance of the new Guide from the DOJ and SEC.