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Confronting Corruption & Resource Guide to FCPAAnswer these questions:1. Who are covered by the anti-bribery provisions? Who are covered by the accounting provisions?2. What is the difference between grease payment and bribery? Is grease payment legal per FCPA and per the law of all other countries?3. What should an MNC do to prevent bribery?

Question

Confronting Corruption & Resource Guide to FCPA

Answer these questions:

1. Who are covered by the anti-bribery provisions? Who are covered by the accounting provisions?

2. What is the difference between grease payment and bribery? Is grease payment legal per FCPA and per the law of all other countries?

3. What should an MNC do to prevent bribery?  

check_circleAnswer
Step 1

As you have posted 3 different questions, we are answering the first question.In case you require the unanswered questions also, kindly re-post them as separate questions.

Step 2

Foreign Corrupt Practices Act, of 1977, is a US federal law  enacted to address the Anti-bribery and Accounting Transparency requirements. It is the widely enforced Anti-Corruption Law. It is based on the concept of Corporate Liability, Responsibility of Third parties. Companies and persons can be held criminally and civilly responsible for corruption offences.

Step 3

Anti-Bribery Provisions: The FCPA makes it unlawful to bribe the foreign government official to obtain or retain business. These provisions are applicable to:

  • US persons and companies (Domestic Concerns)
  • Companies organised under US Law
  • Companies that have principal place of business in US
  • Companies listed on Stock Excha...

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