Survey Results Once Again Call Into Question Whether The FCPA Has Been Successful In Achieving Its Objectives?
In enacting the Foreign Corrupt Practices Act, Congressional leaders stated that the FCPA “would end corporate bribery” and that the goal of the FCPA was “the elimination of foreign bribery.”
Granted, politicians have long been known for making optimistic, aspirational statements, but 40+ years later there is more, not less, FCPA enforcement activity, and seemingly more, not less, exposure to corruption in the global marketplace. (For additional reading on this general topic – see here for the article titled “Has the FCPA Been Successful in Achieving Its Objectives” recently published in the Illinois Law Review).
Recent survey results from the 2019 Global Anticorruption Survey by AlixPartners once again seriously call into question whether the FCPA has been successful in achieving its objectives.
SEC Chair Clayton Says That “In Many Areas Of The World, Our [FCPA] Work May Not Be Having The Desired Effect”
These pages have long posed the question of whether the Foreign Corrupt Practices Act has been successful in achieving its objectives. (See here for a recent law review article titled “Has the FCPA Been Successful in Achieving Its Objectives” – see also here for FCPA Flash podcast episodes on the topic).
These pages have also long posed the question of whether country exits in the aftermath of FCPA scrutiny or enforcement are a good thing (as the government often seems to suggest) or rather a bad thing. (See here for numerous posts).
Yesterday, in this speech, SEC Chairman Jay Clayton discussed the same topics and offered candid observations that seemingly conflict with much of the government’s FCPA enforcement rhetoric over the last several years.
How Others Answered The Question Of Whether The FCPA Has Been Successful In Achieving Its Objectives
This post highlighted a new article titled “Has the FCPA Been Successful in Achieving Its Objectives?”
As highlighted below, the same general question has been posed to several guests on the FCPA Flash Podcast. Click on the links to see how the individuals answered the very relevant question.
Sandra Moser (Quinn Emanuel and former chief of the DOJ’s Fraud Section)