Foreign Corrupt Practices Act

The US Foreign Corrupt Practices Act (FCPA) was enacted in 1977 to prohibit improper payments to foreign officials. The FCPA requires that companies maintain accurate books and records and an adequate system of internal controls, and prohibits improper payments intended to corruptly influence officials of foreign governments and certain other defined foreign government entities (e.g., political parties) and officials. 

After more than 30 years, the FCPA remains in the spotlight as more US and foreign private issuers run afoul of its provisions as US regulators are stepping up their efforts to enforce the law and work through the backlog of open cases.