Foreign Corrupt Practices Act

Foreign Corrupt Practices Act

The Foreign Corrupt Practices is the single most important legal tool to that end. In 2010, as part of the Dodd-Frank Act, whistleblowers obtained protections for raising allegations of Foreign Corrupt Practices Act violations. As amended by the Dodd-Frank Act, the Foreign Corrupt Practices Act’s power to protect whistleblowers and combat corruption is truly remarkable.

The law provides for whistleblowers to receive an award between ten and thirty percent of the total amount recovered by the government if a successful enforcement action follows their disclosures. The Foreign Corrupt Practices Act also allows whistleblowers to file their claims anonymously in the U.S. thereby evading the threat of retaliation. Furthermore, the Dodd-Frank Act’s anti-retaliation provisions also provide protection for employees who work in the United States and blow the whistle on Foreign Corrupt Practices Act violations.

The Statute

Text of the Act.

Anti-bribery provision.

Record-keeping and internal controls provision.

Legislative History

Securities and Exchange Commission Report on Questionable and Illegal Corporate Payments and Practices (May 1976).

House Report (Sep 28, 1977).

Senate Report (May 2, 1977).

House Conference Report (Dec 6, 1977).

Amendments to the Foreign Corrupt Practices Act

Omnibus Trade and Competitiveness Act of 1988

Text of the Act.

House Conference Report No. 100-576 on the 1988 amendments.

The International Anti-Bribery and Fair Competition Act of 1998

Text of the Act.

House Report 105-802 from the Committee on Commerce (Oct 8, 1998).

Senate Report No. 105-277 from the Committee on Banking, Housing, and Urban Affairs (July 30, 1998).

Foreign Corrupt Practices Act in the News

Canada

Canadians file U.S. whistleblower claims

Ireland

Irish whistleblowers cash in on US whistleblowing bounty

India

LiveMint: 120 Indians have tipped off US SEC

Netherlands

Whistleblowers from the Netherlands File for Rewards

New Zealand

New Zealanders File Whistleblower Reward Claims in US

Switzerland

National Whistleblower Center Cited in Switzerland

United Kingdom

Britons File Whistleblower Rewards Claims in United States

Foreign Corrupt Practices Act Translations

English

Arabic – عربي

Azerbaijani – Azərbaycan

Bengali – বাংলা

Bulgarian – български

Chinese (Cantonese) – 廣東話

Chinese (Mandarin) –官話

Czech – myanma bhasa

Danish – Dansk

Dari – دری

Dutch – Nederlands

Estonian – Eesti keel

Farsi – فارسی

Finnish – Suomi

French – Français

German – Deutsch

Greek – ελληνικά

 

Hebrew – עברית

Hindi – हिंदी

Hungarian – Magyar

Icelandic – íslenska

Indonesian – Bahasa Indonesia

Italian – Italiano

Japanese –日本語

Javanese – Basa Jawa

Kazakh – Қазақ тілі

Korean –한국어

Kurdish – کوردی

Kyrgyz – Кыргыз тили

Lingala – Lingála

Malay – Bahasa Malaysia

Norwegian – Norska

Pashtu – پښتو

Polish – Polski

 

Portuguese – Português

Punjabi – ਪੰਜਾਬੀ

Romanian – Română

Russian – Русский

Slovak – Slovenčina

Slovenian – Slovenščina

Spanish – Español

Swahili – Kiswahili

Swedish – Svenska

Tagalog – Tagalog

Tamil – தமிழ்

Thai – ไทย

Turkish – Türkçe

Urdu – اردو

Ukranian – Українська

Uzbek – O’zbek tili

Vietnamese – Tiếng Việt

 

 

Enforcement Action Cases

List of cases (examples of what can be reported as a violation of the FCPA).

International Anti-Corruption Agreements

List of Agreements and Discussions including the UN Convention against Corruption and the Organization for Economic Co-operation and Development’s (OECD) Convention on Combating Bribery of Foreign Public Officials in International Business Transactions.

Related Materials

The Securities and Exchange Commission and the Department of Justice, “A Resource Guide to the U.S. Foreign Corrupt Practices Act”

Full list of foreign (non-U.S.) companies registered and reporting with the Securities and Exchange Commission as of December 31st, 2010.

Procedures for Obtaining an official opinion of the Attorney General on an FCPA case.

Securities and Exchange Commission, Investor Bulletin on the Foreign Corrupt Practices Act.

Securities and Exchange Commission, Investor Bulletin on American Depositary Receipts.

Important External Links

U.S. Department of Justice, Index of Official Attorney General Opinions under the FCPA.