U.s. Foreign Corrupt Practices Act - 817 Words

U.S. Foreign Corrupt Practices Act (FCPA) The FCPA explicitly state that it is illegal for foreign business entities and individuals to engage in unlawful practices that include, making payments to foreign officials in an effort to attaining or retaining business (DOJ.gov, 2016). This is the United States law and holds true for Chinese government healthcare officials who worked under the reformed Healthcare system. U.K. Bribery Act of 2010 The GSK case is attributed to the U.K. Bribery Act of 2010 (2016) because of the offenses as a result of bribing another person(s), and the offenses as a result of being bribed (Legislation.gov.uk, 2016). This is the law from the United Kingdom as it relates to GSK being the representative U.K. company. Criminal Law of the People’s Republic of China The GSK case used Article 5, 91, 163, and 164 under the CLPRC, which specify China’s provisional laws on bribery and corruption between drug manufacturers and drug distributors and the level of fines and imprisonment time span one would receive if found guilty on any of the charges. The Law of the People’s Republic of China Against Unfair Competition China’s Unfair Competition Law describes the general provisions on the Acts of Unfair Competition, the legal responsibilities, and the Supervision and Inspection provisions which is meant to protect a healthy expansion within China’s socialist economy, hence, emboldening and safeguarding fair competition while opposing unfair competition, andShow MoreRelatedU.s. Foreign Corrupt Practices Act Of 1977764 Words   |  4 PagesThe FCPA (Foreign Corrupt Practices Act of 1977 was passed to ensure that U.S. firms do not engage in illegal bribing of foreign government officials to assist in obtaining or retaining business. Specifically, this act prohibits any offer, promise to pay, payment or even authorization of payment to a foreign official to influence it, secure any advantage or to assist in obtaining or retaining business. The presenting team used the Walmart case as basis for the debate as it is relevant to the issueRead MoreGifts Bribes1260 Words   |  6 Pagescultural practices pertaining to gifts, bribes, and any other kind of payments have become part of accepted business norms. In the United States, through the Foreign Corrupt Practices Act (FCPA) of 1977, â€Å"companies cannot make payments of this nature while knowing or having reason to know that any portion of the funds will be transferred to a forbidden recipient to be used for corrupt purposes† (Fadiman, 1986). This paper aims to discuss, briefly, why bribery might become a problem for U.S. managersRead MoreThe Foreign Corrupt Practices Act1551 Words   |  7 PagesThe foreign Corrupt Practices Act prohibits paying or offering anything of value to foreign officials for the purpose of obtaining or keeping a business. The FCPA was enacted by congress in 1977 due to various reports that were made by the Security and Exchange Commis sion (SEC). The Security and Exchange Commission (SEC) reported different issues concerning bribery and illegal payments by United Sates companies. The FCPA states that it’s unlawful to make payments to foreign officials; having a corruptRead MoreForeign Corrupt Practices Act1207 Words   |  5 PagesFCPA PAPER The Foreign Corrupt Practices Act of 1977 (FCPA) evolved from investigations by the Office of the Special Prosecutor that provided evidence of illegal acts perpetrated by U.S. firms in foreign lands. More than 400 U.S. companies admitted to making questionable payments to various foreign governments and political parties as part of an amnesty program (U.S. Department of Justice http://www.usdoj.gov). Given the environment of the 1970s and the proliferation of white-collar crimes (e.gRead MoreThe Consequences Of The Foreign Corrupt Practices Act?1518 Words   |  7 PagesIn 1977, Congress passed the Foreign Corrupt Practices Act (FCPA), which makes it unlawful for U.S. businesspersons or companies to pay, with money or anything else of value, to foreign officials to secure beneficial contracts. The anti-bribery requirements of the FCPA have applied to all U.S. persons since 1977. In 1998, certain amendments were revised and the anti-bribery requirements now apply to foreign firms and persons who cause an act in continuance of bribery within the United States. TheRead MoreBusiness Law Reflection693 Words   |  3 Pageswith the Foreign Corrupt Practice Act of 1977 (FCPA). What is Foreign Corrupt Practice Act? For those who don’t know might ask, well, the Foreign Corrupt Practice Act of 1977 which was introduced in the U.S Senate as S.303 by Mr. William Proxmire (D.W) and signed into law by president Jimmy Carter on December 19, 1977 is a United States Federal Law known primarily for two of its main provisions. One that addresses accounting transparency requirements under the Securities Exchange Act of 1934 andRead MoreEthical Vs. Legal Business Issues949 Words   |  4 PagesIssues in the Workplace course. The topic for this assignment consists of the differences between ethical and legal business issues. This paper will provide answers to questions related to employee behavior away from the office, and the Foreign Corrupt Practices Act and bribes. Both topics have been presented in the form of video cases (video 93 and 98) found in the Cengage digital video library. My Time, Company Time? Jim’s Gym is growing, and as the Gym grows it is experiencing some growing painsRead MoreWeek 5 Reflection Paper655 Words   |  3 Pages2013 Erikka Hise The Foreign Corrupt Practices Act This assignment instructed us to read four articles concerning Legal Issues in International and Domestic Business Foreign Corrupt Practices Act. Within this assignment it discussed the crisis in corporation’s unethical practices. The Foreign Corrupt Practices Act of 1977 sparked the argument that United States companies are disadvantaged in international markets. The act has been controversial since its enactment, withRead MoreEssay On Foreign Corrupt Practices Act1405 Words   |  6 PagesVu Le Vu LGLS 3562 Michael Valenza December 7th, 2017 Foreign Corrupt Practices Act (FCPA) FCPA Background The U.S. Foreign Corrupt Practices Act (the â€Å"FCPA† or the â€Å"Act†) is one of the primary statutes in the U.S. for fighting against corruption around the world. After the Watergate scandals and revelation of widespread corruption and bribery all over the globe by U.S companies, the FCPA was established in 1977 by Congress [1]. Before passing the FCPA, the government found that more than 400 companiesRead MoreForeign Corrupt Practices Act ( Fcpa ) And Foreign Anti Corruption Legislation Regarding The Canadian, British, And901 Words   |  4 PagesCurrent Guide to Understanding the Foreign Corrupt Practices Act (FCPA) and Foreign Anti-Corruption Legislation regarding the Canadian, British, and Chinese Markets Published by: Cougar International Consulting Group Contributors: Deena Ghazanfarpour, Stephanie Sundsten, Xin Tang, and Maki Uemura Purpose and Scope of this Handbook This handbook is intended to serve as a source of information to advise the client on how to avoid corruption and abide by U.S. Federal Law in regards to the