UNDERSTANDING THE ANTI-BRIBERY PROVISIONS OF THE FOREIGN CORRUPT PRACTICES ACT (FCPA) 1977– PART I

Introduction

Foreign businesses and local companies that deal with US registered companies, issuers, domestic concerns, or organizations operating in different countries including Nigeria are increasingly realizing the need to comply with the FCPA in order to save their affiliate or parent US companies from huge sanctions.

This is a four part Article titled – Understanding the Anti-Bribery Provisions of the Foreign Corrupt Practices Act (FCPA) 1977, Chibuzo Ekwekwuo and Uchechi Dibiaezue (Mrs) of A&E Law Partnership.  This first article deals with the background, objectives and parties directly affected by the FCPA. The second article discusses actions prohibited by the FCPA.  The third article addresses the defenses to allegation of breaches and preventive measures that can be taken to ensure compliance with the FCPA. The last article summarizes the issues that have been raised on the application of the FCPA to US registered companies operating in such foreign jurisdictions, and implications for local companies where their affiliate US companies are subject of US Securities and Exchange Commission proceedings as a result of the local company’s actions. … Read more

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