This is a corporate policy document designed to meet the standards of the Foreign Corrupt Practices Act, a provision of the Securities and Exchange Act of 1934. FCPA generally prohibits payments by companies and their representatives to foreign (i.e., non-U.S.) government and quasi-government officials to secure business.
The Hawaii Foreign Corrupt Practices Act (CPA) — Corporate Policy is a set of guidelines and regulations that governs the conduct of businesses operating in Hawaii regarding international corruption prevention. The CPA is a federal law that was enacted to prohibit bribery, corruption, and unethical business practices in foreign countries by U.S. companies and individuals. Hawaii, being one of the states in the United States, adheres to the CPA and has implemented its own version of the law to ensure transparency, fair competition, and ethical conduct in international business transactions. The Hawaii CPA serves as a vital tool for local businesses, providing them with a clear framework on how to effectively navigate the global marketplace while maintaining the highest standards of integrity. Hawaii CPA — Corporate Policy emphasizes the importance of bribery prevention, anti-corruption due diligence, and compliance with both local and international laws. It outlines the key principles and practices that companies should adapt to ensure their operations remain free from corruption and illegal activities. Such policies are crucial to maintaining the reputation and credibility of businesses, as well as fostering a positive business environment in Hawaii. There are several types of Hawaii CPA — Corporate Policies that businesses should consider implementing. These may include policies related to: 1. Anti-bribery and anti-corruption: This policy focuses on preventing bribery, kickbacks, and corrupt practices by employees, agents, and business partners. It outlines the necessary precautions, such as conducting thorough due diligence before engaging in business relationships, to safeguard against corruption risks. 2. Gifts and hospitality: This policy provides guidelines for employees on accepting or offering gifts, entertainment, or hospitality in business transactions. It aims to ensure that these actions do not compromise business ethics or create conflicts of interest. 3. Third-party due diligence: This policy requires companies to conduct comprehensive due diligence on their third-party agents, intermediaries, and consultants to ensure they are reputable and free from corruption risks. It may also require the inclusion of anti-corruption clauses in contracts to mitigate potential risks. 4. Record-keeping and internal controls: This policy emphasizes the importance of maintaining accurate books, records, and financial controls to prevent fraudulent activities, including bribery and corruption. It provides guidelines on proper documentation, reporting, and internal oversight mechanisms. 5. Training and awareness: This policy promotes ongoing training and awareness programs to educate employees about the CPA requirements and the importance of ethical business practices. Training sessions can include real-life case studies, interactive workshops, and online resources to help employees navigate complex international environments. Adopting and strictly following the Hawaii CPA — Corporate Policy helps companies establish a culture of integrity, gain a competitive advantage, and build strong relationships with partners and stakeholders. It demonstrates a commitment to transparency and responsible business practices, both locally and globally. Compliance with the Hawaii CPA not only ensures legal compliance but also reinforces the ethical foundation of businesses operating in the international arena.
