A largely overlooked provision of the U.S. financial reform bill could create a cottage industry of whistle-blowers trolling for violations of the Foreign Corrupt Practices Act, says Doug Lawler, chief compliance officer of drugmaker Pfizer. The provision, which will give whistle-blowers who report securities law violations 10 to 30 percent of any settlement in excess of $1 million, may lead to an increase in FCPA cases-and more headaches for compliance officers at international firms - Lawler told delegates at a recent Practising Law Institute seminar in New York.
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