Foreign Corrupt Practices Act

requirements

- corrupt intent - payment must be intended to induce recipient to misuse his/her official position to direct business wrongfully to the payer or any other person - doesn't need to succeed

payment exceptions

- issuing documents and permits - processing papers - providing police protection - mail pickup & delivery - loading and unloading cargo

defenses

- lawful under written laws and regulations of the foreign official's country - a reasonable and bona fide expenditure aka has to be real, travel expenses

FCPA - what it covers

anti bribery provisions - unlawful to make payments to foreign gov't officials to assist in obtaining or retaining business accounting and internal control provisions- requires US companies to keep books and records , maintain an adequate system of internal accounting controls

Who does it apply to?

any individual, firm, officer, director, employee, or agent, and any stockholder acting on behalf of a firm

what is a foreign official

any officer or employee of a foreign gov't, a public international organization, or any department or agency thereof, or any person acting in an official capacity

what constitutes a payment

paying, offering, promising to pay (or authorize to pay or offer) money or anything of value