April 13, 2017 •
New White Paper on The Foreign Corrupt Practices Act (FCPA), First Enacted 40 Years Ago
Legal compliance with all the rules and regulations is always important to the broad network of government relations professionals, companies, and organizations we serve. We prepared this white paper to explain the purpose of the FCPA as an anti-bribery statute, and to provide background on preventing the bribery of governmental officials of foreign nations by individuals and entities under the jurisdiction of the United States.
The purpose of the FCPA is to prohibit giving a payment of any money or other thing of value to a foreign official for purposes of influencing the official to act in a corrupt manner in order to obtain or retain business. The corrupt action could be an unlawful act or behavior made to secure an unfair advantage for the donor. The FCPA was enacted in 1977 and is enforced by the Securities and Exchange Commission (SEC).
FCPA enforcement continues to be a high priority area for the SEC. Violations can lead to substantial punitive actions including civil and criminal enforcement actions against issuers and their officers, directors, employees, stockholders, and agents. The growing frequency of settlements, non-prosecution agreements, oversight, and self-reporting make understanding the depth of the FCPA’s impact on corporate business increasingly apparent and important.
The State and Federal Communications white paper of the FCPA is useful for all practitioners and government relations professionals involved in international business and compliance.
State and Federal Communications, Inc. provides research and consulting services for government relations professionals on lobbying laws, procurement lobbying laws, political contribution laws in the United States and Canada. Learn more by visiting stateandfed.com