Foreign Corrupt Practices Act ( Fcpa )

2001 Words9 Pages
Chapter One Introduction about Foreign Corrupt Practices Act 1.1 Background and aim of Foreign Corrupt Practices Act 1.11 Background and amendment In 1972, in order to make Nixon win the election the Committee to Re-election of the President of American Republican Party installed bug in Watergate building, the board office of Democratic Party aiming to steal the election policies of the party. The scandal brought great influence to American society. With the investigation deepening, special prosecutor found that the companies of United States had illegal donations during the competing re-election and later more than 400 companies of United States admitted that they made suspicious or illegal payments . They set up secret bribery capital…show more content…
Domestic concerns refer to any individual who is a citizen, national, or resident of the United States, or any corporation and other business entity organized, such as limited corporation, partnership enterprise, organizations, stock company, trust company having its principal place of business in the United States or registered under the laws of the United States or of any individual US State. Any foreigner or foreign enterprise refers to any person without U.S nationality or any enterprise without registration in U.S. . Before 1998 any foreign enterprise or foreigner was not limited by FCPA except foreign enterprise issuers. But the amendment of FCPA in 1998 greatly extended the jurisdiction of U.S government. If any independent foreign enterprise or individual directly or through agent had bribery on foreign officials in U.S they would violate the regulations of FCPA. Except that all the issuers above mentioned, domestic enterprise or employee in foreign enterprises, senior staff, directors, shareholders and agent were restrained by the law. The ministry of justice was authorized to convict the employee of enterprise according to regulations of FCPA whether the enterprise was guilty or not. 1.2.1.2 Elements of terms Although the translation editions of different languages had different classifications on elements of composition, the terms were composed of five
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