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Five compliance risks for the New York Fashion Week 2015

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On February 12, 2015, the New York fashion week begins. Unlike other industries, the fashion industry has not yet been targeted by the US enforcers. But that doesn’t mean that the industry is free of corruption risks and immune from potential FCPA enforcement actions. Thomas Firestone and Lina Braude (Baker & McKenzie Washington DC) have published an article on the FCPA Blog which highlights the key risks for the fashion industry and provides recommendations on how to mitigate these risks. The main risks are: 1. Gifts and Hospitality 2. Customs and Logistics 3. Real Estate 4. Trade Based Money Laundering 5. Forced Labor in the Supply Chain. Click here to read the full article.

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Lina Braude is a partner in Baker McKenzie's Washington office and a member of Baker McKenzie's North America Compliance & Internal Investigations practice group. She advises clients on corporate compliance issues, including the US Foreign Corrupt Practices Act and US money laundering laws and their application to the activities of multinational companies in emerging markets. Ms. Braude began her legal career in Kazakhstan in 1995 and has an in-depth understanding of the cultural and political challenges of doing business in developing countries, especially in the former Soviet Union. She earned her LL.M. from the University of California, Berkeley School of Law in 1999, and has been admitted to practice in New York, the District of Columbia and Kazakhstan.

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