A. Basic Overview of Statute -

The Foreign Corrupt Practices Act of 1977, as amended, 15 U.S.C. §§ 78dd-1, et seq. (FCPA), makes it unlawful for U.S. persons and entities and others who act within the jurisdiction of the U.S. to make payments to foreign government officials to assist in obtaining or retaining business. It consists of two parts: the antibribery provisions and the accounting provisions.

The anti-bribery provisions prohibit persons and entities from making corrupt offers, payments, or promises of payment of money, or anything of value, to foreign officials to obtain or retain business. Since 1977, the antibribery provisions have applied to all U.S. persons and certain foreign issuers of securities, but the provision was expanded in 1998 to apply to foreign firms and persons within the United States who cause the furtherance of corrupt payments.