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Global Legal Insights

USA: Bribery & Corruption 2020

We are pleased to profile the US Chapter of Global Legal Insights to: Bribery & Corruption 2020 published by Global Legal Insights. This article sets out the legal environment in relation to bribery and corruption enforcement from a US perspective, and identifies current trends in enforcement of the FCPA. 

Brief overview of the law and enforcement regime

The United States Department of Justice ("DOJ") and Securities and Exchange Commission ("SEC") investigate and prosecute business corruption worldwide under the US Foreign Corrupt Practices Act of 1977, as amended ("FCPA"). 1 The FCPA, which prohibits bribery of non-US government officials and imposes certain accounting and internal controls requirements upon companies listed in the United States, has a broad geographical reach and creates significant exposure for both companies and individuals.

In recent years, the DOJ and SEC have aggressively pursued anti-corruption enforcement actions, and subjected both US and foreign companies, as well as their subsidiaries and agents, to FCPA scrutiny. Risks associated with such proceedings include not only the cost of investigations, civil and criminal penalties, and disgorgement of profits, but also threats to corporate reputation and management careers.

 

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1 15 U.S.C. §§ 78dd-1-78dd-3.

The article is reproduced with permission from GLI to: Bribery & Corruption 2020.

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