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Foreign Corrupt Practices Act
(redirected from FCPA)

   Also found in: Acronyms, Wikipedia 0.01 sec.
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.


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Many warning signs are just plain common sense: foreign parties that lack any experience in a particular industry; requests for exorbitant payments or commissions; refusal to execute agreements with standard FCPA provisions; blindly signing FCPA terms that would compel some inquiry if taken seriously; or evasiveness as to dealings with a foreign government.
An Oracle spokeswoman declined to comment on the suits, but provided a statement saying that Sun had disclosed its potential violations of the FCPA prior to the acquisition agreement.
Justice Department officials as saying that "enforcement of the FCPA is second only to fighting terrorism in terms of priority" and reported that "there are currently at least 91 cases open, triple the number from four years ago.
 
 
 
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