With anti-corruption enforcement intensifying around the world,
companies (particularly those operating in regions where corrupt
practices are widespread) are implementing and reviewing
anti-corruption programs to ensure compliance with various
anti-corruption laws (for example the FCPA (US), CFPOA (Canada) and
the UK Bribery Act 2010 (UK)). Whether large or small, public or
private, every company can benefit from implementing an
anti-corruption compliance program. This is particularly true
for companies that operate internationally or engage third parties
to act as agents or representatives in foreign
jurisdictions. While no anti-corruption program will guarantee
compliance by every employee, agent or representative, a compliance
program can be a critical tool for exposing corrupt practices and
protecting your company and/or its directors from criminal and
Beyond the altruistic reasons for eliminating corrupt practices and
the fundamental expectation of compliance with the law, there are
direct and practical benefits to implementing an anti-corruption
program. For example, as more investors and companies realize
the importance of compliance and anti-corruption programs,
compliance issues or the lack of a compliance program can greatly
impact a company's value and attractiveness to potential
partners or purchasers. In addition, corrupt practices waste
company resources and increasingly investors are seeking civil
recourse against the company and the company's
board. Criminal prosecutions can also have a devastating
impact on the reputations of the company and its directors and
officers, and can impact the ability of the company and/or
individual to conduct business at home and abroad.
An anti-corruption compliance program may be complex or
straightforward depending on a company's circumstances and the
level of risk that a company deems necessary or
acceptable. Global anti-corruption enforcement will continue
to intensify and companies that do not have a current
anti-corruption program should take the steps necessary to
implement one. Talk to a Dentons Global Anti-Corruption team
member today to find out more.
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On Thursday, September 22, 2016, Dentons hosted a panel discussion about the management of liabilities and risks associated with environmental crises, including potential liabilities for directors and officers and provided insight into risk and liability techniques associated with environmental crisis management.
Under the Income Tax Act, the Employment Insurance Act, and the Excise Tax Act, a director of a corporation is jointly and severally liable for a corporation's failure to deduct and remit source deductions or GST.
Under the Income Tax Act, the Employment Insurance Act, the Canada Pension Plan Act and the Excise Tax Act, a director of a corporation is jointly and severally liable for a corporation's failure to deduct and remit source deductions.
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