NCJ Number
223453
Journal
American Criminal Law Review Volume: 45 Issue: 2 Dated: Spring 2008 Pages: 579-606
Date Published
2008
Length
28 pages
Annotation
This article reviews the accounting and antibribery provisions of the Federal Foreign Corrupt Practices Act (FCPA), as well as the range of penalties for their violation; discusses global anticorruption efforts, guidelines, and resources for creating an effective compliance program; and describes developments in the battle against business corruption.
Abstract
The FCPA criminalizes the bribery of foreign officials by U.S. corporations and individuals pursuing business in other countries. It requires that companies with publicly traded stock meet certain standards regarding their accounting practices, books and records, and internal controls. In 1988, Congress added two affirmative defenses and directed the executive branch to urge America's global trading partners to pass anticorruption laws that promote international parity in defining, prohibiting, and punishing business corruption. The article's review of the FCPA's accounting provisions discusses the covered parties, elements of the accounting provisions (record-keeping and internal controls), and criminal liability. The article's section on antibribery provisions of the FCPA addresses covered persons, elements of the offense, permissible payments and affirmative defenses, and enforcement (prosecution and Attorney General's guidelines and opinions). The discussion of penalties under the FCPA addresses the U.S. Sentencing Guidelines for offenses under the FCPA for individuals and corporations, as well as additional penalties. The article concludes with examinations of global anticorruption efforts, programs that facilitate FCPA corporate compliance, and recent and anticipated developments. 192 notes