Companies with low-risk business models and good corporate hygiene are not immune to consequences under the U.S. Foreign Corrupt Practices Act, state anti-corruption legislation and international anti-bribery regulations, according to Grainne Blanchette, Esq, Eriez director of corporate and legal affairs.
Blanchette addressed a group of members from the Process Equipment Manufacturers Association (PEMA) during its annual meeting in Bonita Springs, FL. Her topic was titled, “Anti-Corruption Awareness: Understanding the Implications of U.S. and International Bribery and Corruption Laws.”
“You may be in jeopardy due to simple misunderstanding of the law, through the unsanctioned misconduct of a rogue employee or as a result of illicit business practices of a third party,” she told the group. “The financial and reputational impact of a corruption investigation can be devastating to an organization.”
During the session, Blanchette reviewed aspects of the anti-corruption legal framework and discussed the benefits of investing in a comprehensive compliance program to prevent potential anti-corruption issues from disrupting PEMA members’ businesses.
In her position with Eriez, Blanchette directs programs, policies, and practices to ensure that all business units are in compliance with financial policy and reporting regulations. She also reviews all employee contracts, and tracks laws and regulations that might affect Eriez’ policies and implements necessary changes, both domestically and internationally.
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