Changing Key Law Could Mean "License to Bribe"
September 17th, 2011
Inter Press Service
WASHINGTON – Changes to a key anti-bribery law that applies to international commerce, proposed by the U.S. Chamber of Commerce, could have disastrous consequences, hurting multinational firms, human rights, and the U.S.’s place of respect as an early adopter of the legislation, opponents to the changes argued here Friday.
According to a report published by the Open Society Foundation’s (OSF) Open Society Policy Center, proposed changes to the Foreign Corrupt Practices Act (FCPA), corporate anti-bribery legislation passed in 1977, could create loopholes in the legislation so large as to make the FCPA largely useless.