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.
Securities and Exchange Commission Report on Questionable and Illegal Corporate Payments and Practices (May 1976).
Amendments to the Foreign Corrupt Practices Act
Omnibus Trade and Competitiveness Act of 1988
House Conference Report No. 100-576 on the 1988 amendments.
The International Anti-Bribery and Fair Competition Act of 1998
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
Foreign Corrupt Practices Act Translations
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.
The Securities and Exchange Commission and the Department of Justice, “A Resource Guide to the U.S. Foreign Corrupt Practices Act”
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.