Foreign Corrupt Practices Act (FCPA)


The Foreign Corrupt Practices Act (“FCPA”) generally prohibits the bribery, whether direct or indirect, of foreign officials. The FCPA also requires publicly-traded companies to maintain accurate books and records and to have a system of internal controls sufficient to provide reasonable assurances that transactions are executed and assets are accounted for in accordance with management’s authorization and recorded as necessary to permit the preparation of financial statements in conformity with generally accepted accounting principles. Enforcement of the FCPA is the joint responsibility of the SEC and the DOJ.'s picture
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