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Posts Tagged ‘#compliance #bribery #corruption #medicaldevice’

I had the privilege of attending the International Medical Device Compliance Conference in Stockholm last week and despite the “dreach” Swedish weather (a real shame – it is a beautiful city when the sunshine is out), spirits were not dampened and much discussion flowed with regards the current compliance issues for those in the Medical Device sector. This was my first attendance of the #IMDC conference and hopefully I will have the opportunity to attend next year.

Top of the agenda were the UK Bribery Act and the US Foreign Corrupt Practices Act, followed by various ethical codes of practice (which in some cases place stricter compliance codes than the legislation) within this most energetic and growing sector ( a point not at all lost on keynote speaker Assistant Secretary Michael Camunez of the US Department of Commerce, International Trade Administration over a working lunch).

The Conference kicked off with an interesting panel of speakers which included Vivian Robinson, (former General Counsel to the UK’s Serious Fraud Office) skilfully moderated by Kathleen McDermott, Partner at Morgan, Lewis & Bockius LLP. The panel topic was ‘Global Anti-Corruption Trends: The Value of Ethics and Compliance’. Vivian Robinson commented that whilst issues around hospitality, gifts and small facilitation payments can evoke the UK Act, he considered that perhaps these were what he termed “sideshows” and he commented that he felt the focus of the Act would be directed on those major acts of bribery carried out by corporations and those corporations who had a flagrant disregard to adequate procedures (I should add, it was made clear at the outset, panellist were not providing legal advice).

The panellists moved swiftly on to discuss the FCPA and issues around self reporting and the possibility of FCPA amendments vs guidance from the Department of Justice. A topic that developed in the panel of “heavy fines for corporations but you did the right thing for self reporting” was one which was much debated in other panels and amongst attendees outwith during breaks over the rest of the conference.

This is just a ‘snippet’ of the discussions; more will follow …..

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