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The private equity industry is facing increased scrutiny by the U.S. Government for potential violations of the Foreign Corrupt Practices Act (“FCPA”).  The Securities and Exchange Commission (“SEC”) has created a new private fund unit and publicly asserted that it is more closely examining the operations of private equity funds and their portfolio companies.  As with all SEC units, the private fund unit works in conjunction with the U.S. Department of Justice (“DOJ”) criminal and civil fraud divisions.  This increased attention will lead to more investigations, and has enhanced the need for robust FCPA compliance by private equity funds.
Continue Reading U.S. Targets Private Equity Funds for FCPA Scrutiny