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 ?
Charles 'wrote the book' on the Foreign Corrupt Practices Act and his strong leadership ensures that the great work of the FCPA Unit continues.
Recommendations for Compliance with the Foreign Corrupt Practices Act
In this CLE webinar, the Knowledge Group has assembled a panel of key thought leaders to provide the audience with an in-depth analysis of Successor Liability under Foreign Corrupt Practices Act.
In a separate SEC filing last November, the company said it has widened its internal probe to include allegations of other violations of the Foreign Corrupt Practices Act in other parts of the world, including Brazil, China and India.
Buried in the bank's latest results was a statement saying, "Subsequent to reporting the investigations of the Financial Services Authority and Serious Fraud Office in July and August 2012 respectively, Barclays has been informed by the US Department of Justice (DOJ) and US Securities and Exchange Commission (SEC) that they are undertaking an investigation into whether the Group's relationships with third parties who assist Barclays to win or retain business are compliant with the United States Foreign Corrupt Practices Act.
authorities of possible violations of the anti-bribery law, the Foreign Corrupt Practices Act, in their international operations, Reuters says.
Warsaw, IN-based medical device company with violating the Foreign Corrupt Practices Act (FCPA) when its subsidiaries and agents bribed public doctors in Argentina, Brazil, and China for nearly a decade to win business contracts.
Wynn Resorts, Limited (NASDAQ: WYNN), a US-based hotel company, has announced that it has concluded an investigation into alleged violations of US Foreign Corrupt Practices Act (FCPA) by Aruze USA Inc, its parent company Universal Entertainment Corporation (JASDAQ Code: 6425) and its principal shareholder, Kazuo Okada.
Doing business under the Foreign Corrupt Practices Act (incorporating release #16, October 2011, #32846).
Foreign Corrupt Practices Act (FCPA) in respect to payment of bribes to Nigerian government officials in relation to the Nigeria LNG Project.
In fact, these penalties are comparable with the heavy fines imposed by the US Authorities under the US Foreign Corrupt Practices Act.
government officials have acknowledged the increasing focus on Foreign Corrupt Practices Act (FCPA) enforcement.

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