skip navigation

PUBLICATIONS

Register for Latest Research

Stay Informed
Register with NCJRS to receive NCJRS's biweekly e-newsletter JUSTINFO and additional periodic emails from NCJRS and the NCJRS federal sponsors that highlight the latest research published or sponsored by the Office of Justice Programs.

NCJRS Abstract

The document referenced below is part of the NCJRS Virtual Library collection. To conduct further searches of the collection, visit the Virtual Library. See the Obtain Documents page for direction on how to access resources online, via mail, through interlibrary loans, or in a local library.

 

NCJ Number: 63782 Find in a Library
Title: CONGRESSIONAL RESPONSE TO THE PROBLEM OF QUESTIONABLE CORPORATE PAYMENTS ABROAD - THE FOREIGN CORRUPT PRACTICES ACT OF 1977
Journal: LAW AND POLICY IN INTERNATIONAL BUSINESS  Volume:10  Issue:4  Dated:(1978)  Pages:1253-1304
Author(s): T E BATHEN
Corporate Author: Georgetown University
Law Ctr
United States of America
Date Published: 1978
Page Count: 52
Sponsoring Agency: Georgetown University
Washington, DC
Format: Article
Language: English
Country: United States of America
Annotation: THE 1977 FOREIGN CORRUPT PRACTICES ACT WAS PASSED AFTER REVELATION OF QUESTIONABLE OR ILLEGAL PAYMENTS BY OVER 400 U.S. CORPORATIONS TO FOREIGN GOVERNMENT OFFICIALS; THE ACT'S BACKGROUND AND MAIN PROVISIONS ARE EXAMINED.
Abstract: THE CONGRESSIONAL COMMITTEES WHICH DRAFTED THIS ANTIBRIBERY LEGISLATION CONSIDERED TWO POSSIBLE APPROACHES: DISCLOSURE AND CRIMINALIZATION. THE SECURITIES AND EXCHANGE COMMISSION (SEC) PROPOSED A THIRD APPROACH: IMPROVING CORPORATE ACCOUNTING AND AUDIT PROCEDURES. THE LAW COMBINED THESE APPROACHES, REQUIRING COMPANIES SUBJECT TO SEC'S JURISDICTION TO MAINTAIN STRICT ACCOUNTING STANDARDS AND MANAGEMENT CONTROL OVER THEIR ASSETS. IN ADDITION, IT IS UNLAWFUL FOR REPORTING COMPANIES AND DOMESTIC CONCERNS TO BRIBE A FOREIGN GOVERNMENT OFFICIAL, POLITICAL PARTY, OR CANDIDATE FOR CERTAIN SPECIFIED CORRUPT PURPOSES. THE ACCOUNTING PROVISIONS THEREFORE SEEK DETERRENCE THROUGH DISCLOSURE; THE ANTIBRIBERY PROVISIONS, THROUGH CRIMINALIZATION. EFFECTIVE ENFORCEMENT MUST DRAW ON BOTH SETS OF PROVISIONS BUT WILL BE LIMITED BY THE DIFFICULTY OF GATHERING SUFFICIENT CREDIBLE EVIDENCE. SEVERAL ENFORCEMENT ACTIONS ALREADY UNDERTAKEN ILLUSTRATE THE PROBLEMS INVOLVED IN ENFORCEMENT AND RESULTS ACHIEVED. IN CASES OF UNREGULATED COMPANIES, ENFORCEMENT MAY BE ESPECIALLY DIFFICULT, BECAUSE THE LAW'S ACCOUNTING PROVISIONS DO NOT APPLY. THE RESULTING PROBABILITY OF DISPARATE ENFORCEMENT MAY THEREFORE CREATE PROBLEMS. EXAMINATION OF SPECIFIC PROVISIONS OF THE LAW, DESCRIPTION OF EFFORTS TO DEVELOP MULTILATERAL AGREEMENTS, CASE STUDIES, BUSINESS COMMUNITY REACTION TO THE LAW AND FOOTNOTES ARE INCLUDED. (CFW)
Index Term(s): Accountability; Bribery; Corporate criminal liability; Corruption of public officials; Criminal codes; Federal Code; Financial management; Foreign Corrupt Practices Act (FCPA); International agreements; White collar crime
Note: FOREIGN CORRUPT PRACTICES ACT OF 1977, PUB L 95-213, TIT I, 91 STAT 1494 (TO BE CODIFIED AT 15 USC 78A, 78M, 78DD-1, 78DD-2, 78FF)
To cite this abstract, use the following link:
http://www.ncjrs.gov/App/publications/abstract.aspx?ID=63782

*A link to the full-text document is provided whenever possible. For documents not available online, a link to the publisher's website is provided. Tell us how you use the NCJRS Library and Abstracts Database - send us your feedback.