NEW YORK and WASHINGTON, April 22, 2014 (GLOBE NEWSWIRE) — Corruption concerns are increasingly impacting companies’ decisions about forming or expanding partner relationships and conducting business in emerging markets, according to this year’s Dow Jones State of Anti-Corruption Compliance Survey.
The results of the fifth annual survey will be launched today at Dow Jones’ Global Compliance Symposium being held in Washington, DC. This year’s survey interviewed compliance professionals from more than 380 companies worldwide.
Of the companies represented, 67% stopped or delayed working with a business partner due to concerns about violating anti-corruption regulations. More than 50% of respondents said they had stopped or delayed a venture into emerging markets for the same reason. These trends have remained steady over the past three years.
“With fines by the SEC related to the Foreign Corrupt Practices Act exceeding $1.5B since 2010, Anti-Bribery and Corruption legislation is front of mind for global corporations. This is our 5th year publishing the Anti-Corruption Compliance Survey,” said Joel Lange, managing director of Risk & Compliance, Dow Jones & Company. “The results deliver interesting insights into the challenges global corporations face seeking to toe the line between effectiveness and efficiency of their compliance programs.”