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 ?
Foreign Corrupt Practices Act, which highlights how corruption negatively affects economic growth by averting resources from vital areas such as infrastructure, public health, and education, and it "undermines democratic values and public accountability and weakens the rule of law" by harming efforts to fight poverty, crime, and terrorism all over the world.
The idea of Foreign Corrupt Practices Act (FCPA) makes it illegal for companies and their supervisors to influence foreign officials with any personal payments or rewards.
Had Good-year extended its diligence efforts to include Treadsetters' culture, identified and addressed the issues with its pre-acquisition Foreign Corrupt Practices Act violations, and allotted adequate time and resources to the integration of the companies' cultures, the transaction may have ended differently.
Zimmer will pay a USD 17.4mcriminal penalty to settle matters in which it violated provisions of the Foreign Corrupt Practices Act (FCPA) involving Biomet's operations in Mexico and Brazil.
Congress created the Foreign Corrupt Practices Act (FCPA) in 1977.
Global bankers avoid deals in China due to competition by Chinese bankers and regulations like the US Foreign Corrupt Practices Act that prohibits bribery
Congress enacted the Foreign Corrupt Practices Act (FCPA) in 1977 in order to prevent bribery of foreign officials.
Northern California US District Judge Lowell Jensen hit HP with the fine after the company pleaded guilty to violating anti-bribery and accounting provisions of the Foreign Corrupt Practices Act, the US Department of Justice said in a release.
Broadly speaking, the Foreign Corrupt Practices Act prohibits offering or paying anything of value to a foreign official to obtain or retain business.
The Securities and Exchange Commission entered into a related settlement with the computing giant over allegations that its subsidiaries made improper payments to government officials in order to obtain contracts, in violation of the Foreign Corrupt Practices Act.
This was a clear violation of the Foreign Corrupt Practices Act (FCPA).
Foreign Corrupt Practices Act, "Risk-based due diligence is particularly important with third parties and will also be considered by the DoJ and SEC in assessing the effectiveness of a company's compliance program."

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