ADVERTISEMENT

A friend of mine is woking on an issue I find fascinating.  It’s illegal for a U.S. corporation to bribe a “foreign official.” If you want to do business in Uganda and, on a trip there, buy someone dinner only to find out later they are an appointed official in the Ugandan Govt., are you guilty of bribing?  What is a “foreign official?”  What are other nation’s standards for bribing “foreign officials?”

For decades U.S. companies who do international business have been self-reporting to the SEC in compliance with a little-known law called the Foreign Corrupt Practices Act (FCPA). The law has been instrumental in elevating American businesses’ reputation throughout the world, but not without a price.

Enacted in 1977, the FCPA provides a much-needed requirement that U.S. businesses cannot bribe foreign officials. Everyone can agree this is important, but due to a lack of definition of “foreign official” and increased enforcement by the Department of Justice, many companies are, unfortunately, steering clear of international markets.

The global economy U.S. companies compete in today is drastically different than the conditions in 1977 when the FCPA became law. Nearly one third of our U.S. economy today comes from international business. In order for America’s job creators to continue to expand, it’s time for Congress to look at changes to the FCPA that will reduce the fear and uncertainty that plagues the U.S. business community while ensuring continued accountability.

Subscribe For Latest Updates

Sign up to receive stimulating conservative Christian commentary in your inbox.

Invalid email address
We promise not to spam you. You can unsubscribe at any time.
1 comment
  1. Its like you read my mind! You seem to know so much about this, like you wrote the book in it or something. I think that you could do with some pics to drive the message home a bit, but other than that, this is great blog. A great read. Ill definitely be back.
    Business Loan

Comments are closed.

You May Also Like

What Do You Give Up to Get “Free” Healthcare?

Amy K. Frantz: With “free” healthcare remember the government is paying the bills so the government is also making the healthcare decisions.

Thomas E. Woods on Nullification

Dr. Thomas E. Woods, Senior Fellow of History at the Mises Institute…

You Don’t Have a Constitutional Right to Tweet at @realDonaldTrump

Shane Vander Hart: President Donald Trump blocking individual users on Twitter does not infringe on their rights protected by the First Amendment.

President Obama Off and Then On-The-Record With The Des Moines Register

President Obama wanted to be off-the-record with The Des Moines Register and after being pressured went on-the-record. Why would they agree to this?