The Foreign Corrupt Practices Act in a New Era

The Foreign Corrupt Practices Act in a New Era

Mike Koehler

The Foreign Corrupt Practices Act (FCPA) has emerged as a top concern for companies doing business in the global marketplace. This book is the first of its kind given its comprehensive and provocative coverage of the FCPA and its many related legal and policy issues.

Chapter 9: FCPA reform

Mike Koehler

Subjects: law - academic, corporate law and governance, corruption and economic crime, criminal law and justice, regulation and governance


This book concludes by returning to an opening thesis - while the FCPA is a fundamentally sound statute, this does not mean that the FCPA could not be improved or that FCPA enforcement is always fundamentally sound. Indeed, one of the greatest challenges in this new era is how to enforce the FCPA consistent with the rule of law, and its demand for transparency and consistency, and in a way that inspires public confidence that enforcement is fair and actually effective in achieving the objectives of the FCPA. As noted in Chapter 1, FCPA reform is nearly as old as the FCPA itself. However, reforming a law called the 'Foreign Corrupt Practices Act' has always been a political hot potato and a substantive, issue-based discussion of the law has always been difficult. Declaration of the FCPA's new era and wider recognition of the enforcement theories and policies which have come to define this era have resulted in the positive development of greater attention to the FCPA and its enforcement on Capitol Hill and among other policy makers and interested observers. This chapter focuses on FCPA reform and highlights, among other things, recent reform proposals and related Congressional hearings. As history instructs, the mere discussion of FCPA reform has once again been opposed by some who have advanced the simplistic - either you are against bribery or for bribery - position.

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