Foreign Corrupt Practices Act

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Foreign Corrupt Practices Act

An amendment to the Securities Exchange Act created to prohibit bribery of foreign officials by publicly held US companies.

Foreign Corrupt Practices Act

Legislation in the United States, passed in 1977, that banned U.S. corporations and others from bribing foreign officials in order to secure better business conditions. Prior to the passage of this Act, many American companies made unethical payments to high government officials in other countries to secure a contract or perhaps a legal change that would make it easier for an American company to conduct business in the foreign country. The Act also increased transparency requirements for some security issuers. It was amended by the International Anti-Bribery Act of 1998.

Foreign Corrupt Practices Act

A 1977 amendment to the Securities Exchange Act that sets penalties for those engaging in bribery of foreign government officials or foreign personnel and that requires adequate records and internal controls in all publicly held companies.
References in periodicals archive ?
For those subject to the FCPA, understanding the law has become
Fox's new FCPA Compliance & Ethics website, please contact Kit Frieden at 800-559-4534 or kit@androvett.
Day Pitney has a very active White Collar and Government Investigations Practice, focusing upon, among other things, FCPA compliance and defense, securities, internal investigations, and general compliance services for all size companies.
The FCPA risks for purchasers in M&A transactions generally are threefold, any of which may expose the purchaser to greater regulatory scrutiny or hurt its stock price:
In success and in failure, FCPA enforcement has established itself as headline legal news, and this year is not likely to be a quiet One for the FCPA.
The rise in enforcement places FCPA compliance at the forefront of any board's agenda.
Individual Prosecutions: FCPA charges against individuals increased significantly between 2002 and 2012, from only six in 2002 to 18 in 2010,24 in 2011, and six as of mid-year 2012.
Shareholder lawsuits brought under the FCPA to enforce the law
A significant development for the FCPA occurred in July 2010, when Congress passed the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act).