Firms Battle Dangers of Overseas Markets

The Saint ReportNews 2010, saintblog0 Comments

June 13, 2012 — Women’s Wear Daily — By SHARON EDELSON — Breaking into foreign countries is forcing companies to adapt on the go, raising legal issues and gray areas at almost every turn — and causing them to worry about running afoul of the U.S. Foreign Corrupt Practices Act. Proof of this came Tuesday when lawyers for Wal-Mart Stores Inc. in a global review identified Brazil, China, India and South Africa, in addition to Mexico, as countries that represent the highest risk of corruption. According to a letter from lawmakers investigating the company, Reps. Elijah Cummings (D., Md.) and Henry Waxman (D., Calif.), Wal-Mart asked its lawyers to expand the review to a worldwide assessment of the company’s anticorruption policies. Saint Consulting President Patrick Fox is quoted in this article on the dangers firms face in doing business in certain countries.

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