Contrary to the expectations of many who thought that enforcement of the Foreign Corrupt Practices Act (FCPA) would dissipate with the arrival of the Trump administration, it is very much alive. And perhaps even more unexpectedly, whistleblowers are not just welcome, but are generously rewarded for valuable information that lead to a Security and Exchange Commission enforcement action and monetary recovery. And it’s not just the SEC; the Commodity Futures Trading Commission (CFTC) just announced that it too will be closely examining and enforcing foreign corrupt practices.
The FCPA prohibits companies from bribing government officials abroad and imposes requirements for financial recordkeeping. Foreign Corrupt Practices Act, 15 U.S.C. §78dd-1 (prohibiting bribes); 15 U.S.C. §78m (requiring recordkeeping measures). Companies can be fined up to $2 million per violation under the bribery provisions of the law and up to $25 million per violation under the accounting provisions.
