FINRA Reminds Firms of Their Obligations Under the Foreign Corrupt Practices Act

FINRA RN 11-12

March 18, 2011

FINRA published a regulatory notice to remind firms of their obligations under the Foreign Corrupt Practices Act (FCPA). The notice advises firms to review their business practices to ensure compliance with the FCPA, and notes that a failure to comply with the FCPA would be deemed a violation of FINRA Rule 2010 (standards of commercial honor and principles of trade). The notice provides a general overview of FCPA requirements and to what extent they apply to different types of broker-dealers.

Cross References

Exchange Act § 13(b)

FINRA Rule 2010

CWT CF Memo, SEC Launches FCPA Probe of Financial Services Industry's Interactions with Sovereign Wealth Funds (March 18, 2011)