The Foreign Corrupt Practices Act (FCPA), enacted in 1977, generally prohibits the payment of bribes to foreign officials to assist in obtaining or retaining business.
Rather, the FCPA is violated if a corrupt payment is made in order to facilitate improperly the obtaining or retaining of business with a third party.
The FCPA has two primary provisions: (1) an anti-bribery provision which makes it unlawful for a U.S. company or citizen, and certain foreign issuers of securities, to make a corrupt payment to a foreign official for the purpose of obtaining or retaining business and (2) an accounting provision which requires companies ...
FCPA has two components, anti-bribery provisions and maintaining accurate books, records, and internal controls so bribes cannot be hidden.
The FCPA makes it a crime to: 1) make a payment of, offer or promise to pay, or authorize a payment of money or anything of value, directly or indirectly; 2) to any foreign official, politician, party official, candidate for office; 3) with a corrupt intent; 4) for the purpose of influencing one of these person's ...
Individuals and corporations are subject to both civil and criminal penalties if found to be in violation of the Federal Corrupt Practices Act (FCPA) anti-bribery, accounting, or other provisions. This means not only fines, but the possibility of imprisonment for individuals found in violation of an FCPA provision.
The act prohibits bribery of foreign officials and intends to deter corruption and abuses of power worldwide. The FCPA contains policies for governing the actions of publicly traded companies, their directors, officers, shareholders, agents, and employees.
Which of the following provisions are covered in the U.S Foreign Corrupt Practices Act? Illegal payments to foreign officials to assist in obtaining business. Transparency of accounting records reflecting all transactions. Payments to agents for the purpose of influencing foreign officials.
The correct answer is option b. Preventing bribery and unethical acts in the conduct of international business.
Which of the following is true of the Foreign Corrupt Practices Act of 1977? It is designed to stop bribery of foreign officials by American citizens. Intermediaries, under the FCPA, are: prohibited from making payments that can go to a foreign official.
Which of the following is true of the penalties under the Foreign Corrupt Practices Act? Officers, directors, stockholders, employees, and agents are subject to a fine of up to $250,000 per violation and imprisonment for up to five years.
An exception to the FCPA's anti-bribery prohibition exists for "grease payments" or payments to facilitate or expedite performance of "routine governmental action". Which of the following is NOT considered "routine governmental action" as defined by the FCPA? You just studied 12 terms!