New U.S. Department of Justice Opinion Regarding the Meaning of "Foreign Official" Under the U.S. FCPA

The U.S. Department of Justice has issued a U.S. Foreign Corrupt Practices Act Opinion Release that identifies factors to be considered when determining whether a member of a royal family is a “foreign official” under the FCPA. The alert memo reviews this Release and the likely benefits and limitations of the guidance it provides. We expect the memo to be of particular interest to those seeking to raise funds from sovereign wealth funds that may be controlled by royal families or those that otherwise have business dealings with monarchies in the Middle East and elsewhere.