Perspective
Jan. 22, 2011
Foreign Corrupt Practices Act: 'Defenses' That Don’t Work
U.S. businesses are expected to abide by the Foreign Corrupt Practices Act, even when they are operating abroad. By Aaron G. Murphy of Latham & Watkins.
Every U.S. company - or foreign company listed on a U.S. exchange - has to comply with the Foreign Corrupt Practices Act ("FCPA"). In its least nuanced form, the FCPA prohibits giving anything of value to a foreign official for the purpose of obtaining or retaining business or securing an unfair business advantage.
Many business people complain that the rules are often different in foreign countries. They say that many plac...
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