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Foreign Corrupt Practices Act (FCPA) Compliance | Business in Asia
The Foreign Corrupt Practices Act (FCPA)
International trade and business are the lifeblood of the economy of the United States of America. Throughout the history of the USA, Americans have engaged in interstate and international trade. This phenomenon seems poised to continue unabated. Even amidst economic turbulence Americans living both in the USA and abroad seem to have a preternatural dispensation toward trade and commerce. For this reason, there are many who would argue that the USA will be a key player in international trade for decades to come. Bearing this in mind, the Foreign Corrupt Practices Act was designed in an effort to promote free trade while adhering to American principles of good government, good faith, and fair dealings.
The United States of America remains one of the most dynamic players in the international business arena as many United States Citizens and American companies conduct business in jurisdictions outside of the confines of the USA. As American business becomes more global in nature it stands to reason that American business practices and legal notions will spread to places outside of the USA. The legislation commonly referred to as the Foreign Corrupt Practices Act (FCPA) has a significant impact upon American businesses and individuals operating an enterprise abroad.
The Foreign Corrupt Practices Act (FCPA) prohibits American Citizens, United States Lawful Permanent Residents, and American companies from engaging in activity which is considered to be “corrupt” within the language of the Act itself. Of particular note to those interested in information pertaining to the FCPA is the fact the bribery is specifically mentioned as a prohibited activity under the provisions of the Act. That said, the technical definition of bribery under the provisions of the Foreign Corrupt Practices Act may not comport to the same definition commonly held by some laypeople as items colloquially referred to as “bribery” may be exempted from that definition under the terms of the FCPA.
Application of the Foreign Corrupt Practices Act (FCPA) requires the assistance of an attorney licensed to practice American law. Each and every case is factually different. Therefore, application of the FCPA depends upon the facts of a given case. Laymen often make the mistake of incorrectly generalizing about matters pertaining to the FCPA. Furthermore, some unqualified individuals attempt to provide analysis about such matters which should not be relied upon as only one with a background of study in United States law and a license to practice such law can provide advice and counsel regarding the Foreign Corrupt Practices Act. Those interested in retaining counsel for American corporate matters are well advised to check the credentials of anyone claiming expertise in order to ascertain if those making such claims are, in fact, licensed to practice American law.
For those wishing to contact an attorney regarding the FCPA please contact Integrity Legal Now!
For related information please see: Foreign Corrupt Practices Act
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