Foley Introduces Industry's First Web-Based Affordable FCPA Compliance Solution
Foley & Lardner LLP announced today the launch of Foley Global Risk SolutionsSM – a new cost-effective service offering designed to help companies operating overseas comply with the Foreign Corrupt Practices Act (FCPA). Foley GRS is an innovative, web-based service offering that provides businesses with a fully integrated FCPA compliance solution. The product, which relies on cutting-edge technology, will be offered for a fixed annual subscription fee.
“There is a significant need, especially for middle-market companies with international operations or sales, for a practical, actionable FCPA compliance program that addresses all of the hallmarks for effective anti-corruption compliance as identified by the U.S. Department of Justice and U.S. Securities and Exchange Commission,” said David Simon, a Foley partner and FCPA specialist who led the team that created Foley GRS. “Until now, there has not been an affordable resource that promotes real risk reduction and proactive implementation.”
FCPA enforcement is a serious risk for many middle-market companies. The DOJ and the SEC have repeatedly emphasized that enforcement is not reserved for giant multi-nationals.
Foley GRS is the first-of-its-kind integrated legal services solution using a technology-based platform that delivers a comprehensive, closed-loop program that includes risk assessments, current and periodically updated policies and procedures, training for employees, regular communications, and most importantly, access to legal advice and counseling on FCPA issues that arise during the course of business operations.
“Foley has invested heavily in the development of the Foley GRS platform and service. We are delighted to be able to offer a real solution to a significant business problem facing many of our clients,” said Foley Chairman and CEO Jay Rothman.
Foley partnered with Neota Logic, a leader in creating rules-based applications, to develop specific components of the GRS offering that deliver risk assessment and on-demand guidance. The Neota Logic platform significantly enhances the GRS offering, allowing for more efficient and more consistent provision of services.
