Flailing At The Definition Of A 'Foreign Official'
December 7, 2012, 1:31 PM EST
Law360, New York (December 7, 2012, 1:31 PM EST) -- Perhaps I was being overly optimistic. I thought the U.S. Department of Justice and the U.S. Securities Exchange Commission could bring a little clarity to the term “instrumentality” in the definition of a “foreign official” under the Foreign Corrupt Practices Act. It was wishful thinking on my part.
In fairness, the Justice Department has a pending appeal before the Eleventh Circuit on this issue, and any statements made could definitely have been used against the department in the appeal. Instead, we are left with standards which...