U.S. law, enacted 1977, that prohibits U.S. firms from bribing foreign officials to obtain or retain business. The law permits, however, facilitating payments.
Legislation that prohibits US firms from making payments to foreign officials in order to influence their actions or to assist the firm in obtaining business.
In general, FCPA prohibits American companies from making corrupt payments to foreign officials for the purpose of obtaining or keeping business.
An amendment to the Securities Exchange Act created to sanction bribery of foreign officials by publicly held US companies.
Provisions of the 1934 Act dealing with a company's requirements to (1) keep reasonably detailed accounting records and (2) devise and maintain appropriate internal accounting control systems. The FCPA also prohibits certain payments by a company or its representatives to foreign official, political parties, or candidates.
Legislation requiring any company that has publicly-traded stock to maintain records that accurately and fairly represent the company's transactions; additionally, requires any publicly-traded company to have an adequate system of internal accounting controls.
