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FCPA practical considerations for companies operating in Poland

FCPA practical considerations for companies operating in Poland. Unconventional Gas Committee Meeting Warsaw, May 8, 2012. Agenda. FCPA enforcement - globally Corruption enforcement – Poland Key challenges Key are a s of risk Good practices. FCPA enforcement - globally.

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FCPA practical considerations for companies operating in Poland

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  1. FCPA practical considerations for companies operating in Poland Unconventional Gas Committee Meeting Warsaw, May 8, 2012

  2. Agenda • FCPA enforcement - globally • Corruption enforcement – Poland • Key challenges • Key areas of risk • Good practices

  3. FCPA enforcement - globally • Enforcement is still on the rise • Continued focus on prosecution of individuals Source: Shearman & Sterling FCPA Digest, January 2012

  4. FCPA enforcement – globally (continued) • Energy sector remains the most affected* Source: http://fcpamap.com/ • FCPA definitions remains to be interpreted in an extended way • Increased international co-operations amongst regulators • Dodds-Frank reform stimulate whistleblowing activity • US enforcement activities followed by other countries

  5. Corruption enforcement - Poland • Strong enforcement, especially after fall 2011 • Number of enforcement agencies • Immediate media attention • Sometimes – cases started by accident • Easy wins for police and prosecutors • Wide range of tools used • Agencies more effective in submitting charges, then in securing convictions • Industry focus

  6. Key challenges • Corruption is still a big problem although situation theoretically improves • Nepotisms, conflict of interest and fraud at local authorities level still remains a big problem • Financial turbulences stimulate an increase of pressure • Cultural issues still remain unsolved • Compliance remains perceived as a form over substance exercise

  7. Key challengesCorruption Perception Index 2010 www.transparency.org

  8. Key challengesOngoing willingness to pay bribes (2012 Global Fraud Survey) Shown: percent stating response Q3: Which, if any, of the following do you feel can be justified if they help a business survive an economic downturn? Base: all respondents in Poland (55), Central & Eastern Europe (405), Global (1758)

  9. Key areas of risk • Direct payments • Vendors • Employees • Consultants / experts • Indirect payments • Intermediaries • Agents • Sub-contractors • Hospitality

  10. Good practices • Hire the right people • Lead by example • Establish proper policies and procedures • Code of conduct • Procedures • Approval limits • Contracts (with FCPA clauses) • Have an effective systems of controls over spendings • Know your vendors • Trust but audit

  11. Thank you Mariusz WitalisEmail: mariusz.witalis@pl.ey.comTel.: +48 22 557 7950 Mobile: +48 508 018 345

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