Compliance with anti bribery provisions

  • Act/Rule/Legislation

  • Online Link to Act/Rule/Legislation

  • Initial Setup or Ongoing Maintenance

    Ongoing compliance requirement

  • Filing and Maintenance Requirements

    The FCPA is designed to prohibit bribery around the world so long as it has a U.S. nexus, be it a U.S. incorporation, place of business, citizenship, residence, or an action on U.S. territory or other nexus.

    It is illegal under the FCPA for any U.S. business (whether or not traded publicly); any entity having its principal place of business in the United States; any officer, director, employee or agent of these business entities; any U.S. citizen; or any U.S. resident to pay, give, authorize the payment of or otherwise promise to pay anything of value to a foreign official or foreign political party anywhere in the world for the purpose of influencing or securing an improper advantage in order to obtain, retain or direct business.

    The FCPA also prohibits any such actions by any person (including foreign nationals or foreign companies and their officers, directors, employees, agents or shareholders) so long as they are conducted while on U.S. territory.

    Under the FCPA, what cannot be done directly should not be done indirectly through third parties. Payments, gifts, authorization of payment or promises of payment to other persons with "knowledge" that they would ultimately be given or offered to foreign officials or foreign political parties to influence or secure an improper advantage for business are prohibited.

    The FCPA prohibits any person from knowingly circumventing or failing to implement a system of internal accounting controls or knowingly falsifying any books, records or accounts of a publicly traded company. This "books and records" provision of the FCPA effectively applies FCPA liability to a U.S. publicly traded company for improper payments made entirely outside the United States by the foreign employees of a foreign subsidiary, even without knowledge or involvement of the U.S. company.

  • Penalty

    (1) (A) Any domestic concern that is not a natural person and that violates subsection (a) or (i) of
    this section shall be fined not more than $2,000,000.
    (B) Any domestic concern that is not a natural person and that violates subsection (a) or (i) of
    this section shall be subject to a civil penalty of not more than $10,000 imposed in an action
    brought by the Attorney General.
    (2) (A) Any natural person that is an officer, director, employee, or agent of a domestic concern, or
    stockholder acting on behalf of such domestic concern, who willfully violates subsection (a) or (i)
    of this section shall be fined not more than $100,000 or imprisoned not more than 5 years, or
    both.
    (B) Any natural person that is an officer, director, employee, or agent of a domestic concern, or
    stockholder acting on behalf of such domestic concern, who violates subsection (a) or (i) of this
    section shall be subject to a civil penalty of not more than $10,000 imposed in an action brought
    by the Attorney General.
    (3) Whenever a fine is imposed under paragraph (2) upon any officer, director, employee, agent, or
    stockholder of a domestic concern, such fine may not be paid, directly or indirectly, by such
    domestic concern.

  • Application Guidelines / Responsible Persons / Comments

    Not relevant