Regulations of the Foreign Corrupt Practices Act
Under the provisions outlined by the 1977 Foreign Corrupt Practices Act, foreign businesses and nationals are defined as all the individuals and the entities that are not under the category of domestic concerns or issuers. These companies and individuals are held to the federal laws and regulations outlined by the FCPA regarding corruption and acts of bribery committed with any United States business or involving any member of the United States government. This includes agents, officers, or stockholders that are acting on behalf of the companies. They are held just as liable as those involved in acts of corruption within the United States.
Similarly, any corporation or company is also held liable for the actions of their officers, managers and employees. This is one of the reasons why the practice of due diligence is so important. One must be certain of the reliability and the ethical sense of those one allows into their lives and into their businesses, as the consequences of criminal activities will have a direct effect, whether one was personally involved in the act or not. Ignorance is no defense when it comes to federal charges of bribery and corruption. Bribery is defined as payment, in any form, that is not for services rendered or that appears to greatly exceed the ordinary means of the services.
Payment is defined by the provisions outlined in the Foreign Corrupt Practices Act as the offer to pay, the promise to pay, the giving of or the promise of a gift, anything of value that is promised or given in exchange for transactions and services. The value of such gifts is loosely defined and encompasses any non-cash exchanges. This could include the purchase of meals and/or entertainment excursions, tax breaks and benefits, the exchange of information and the promises of such things as scholarships and continued or future opportunities involving employment.
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