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