Foreign Corrupt Practices Act

In 1977, Congress amended the Securities Exchange Act of 1934 ("Exchange Act") and enacted the Foreign Corrupt Practices Act ("FCPA"). The FCPA's passage followed an extensive Securities and Exchange Commission ("SEC") investigation and voluntary disclosure program during the 1970s, which revealed that US companies had made millions of dollars in bribes to secure business from foreign officials. Here, Bartle et al outline the development of the FCPA, its elements, available defenses, and possible civil and criminal penalties. Additionally, they discuss effective FCPA corporate compliance programs and provides resources for in-house counsel seeking advisement from FCPA compliance consultants. Finally, they survey recent and anticipated developments in FCPA enforcement.