New ISO 37001 for Anti-Bribery Management: Leveraging Certification, Understanding Pros and Cons of the New Standard

On Oct. 15, 2016, the International Organization for Standardization adopted ISO 37001, which “specifies requirements and provides guidance for establishing, implementing, maintaining, reviewing and improving an anti-bribery management system.” ISO 37001 seeks to establish an international anti-bribery compliance standard.

Pursuant to ISO 37001, a company may retain a third party to review its anti-bribery compliance program and certify the program’s compliance with the Standard. Companies can leverage ISO 37001 certification with current and potential business associates and investors. Certifications may also be of benefit to companies under investigation by enforcement authorities for bribery violations, although the extent and nature of that benefit will vary from jurisdiction to jurisdiction.

While the new Standard may be considered an international best practice, U.S. companies and their counsel must also consider the potential shortcomings of ISO 37001 when dealing with U.S. enforcement authorities.

Listen as our authoritative panel examines ISO 3700, certification and implications for companies concerned about their anti-corruption compliance credentials. The panel will address the scope and requirements of the standard as well as its potential benefits and shortcomings.

1. ISO standard 37001
   1. What is ISO?
   2. Origins and discussions of the Standard
   3. Scope
   4. Users
   5. Key requirements
   6. Certification
2. Potential benefits and shortcomings
   1. U.S.
   2. Latin America
   3. UK
3. Points of attention

The panel will review these and other key issues:

• How can companies leverage an ISO 37001 certification when doing business throughout the world?
• How does certification under the new standard impact the prosecution of anti-corruption charges, including calculation of penalties?
• What are the benefits and limitations of ISO 37001 when dealing with the U.S. enforcement authorities? When dealing with civil law countries such as many in Latin America? When dealing with the U.K. Serious Fraud Office and its assessment of "adequate procedures" under the U.K. Bribery Act?