Financial Transparency Coalition

Have you ever heard someone really intelligent say something really wrong? I certainly have. It happens all the time. Smart people aren’t always right. Well, apparently, that’s also true of publications. The Economist, which self-identifies as a magazine for the highly intelligent, has (with perhaps a touch of good humor) claimed in its advertisements that it “makes white collars brighter” and called itself the “leaders digest.” While I don’t agree with many of its convictions, I more often than not respect its point of view. At the very least, I believe its articles are well-researched, carefully considered, and supported by...

As many of our readers know, the Foreign Corrupt Practices Act (FCPA) is under assault by the Chamber of Commerce and some members of Congress.  This valuable statute prohibits domestic companies from bribing foreign officials for the purpose of obtaining or retaining business opportunities abroad and has a purposefully broad reach, extending to any company operating globally with securities registered in the U.S. It should go without saying this kind of corruption undermines the integrity of foreign governments and competitive business practices internationally.  In spite of this, the Chamber of Commerce wants to “reform” the statute so corporations can more easily...

WASHINGTON, DC – News that Rupert Murdoch’s News Corp. donated $1 million to the U.S. Chamber of Commerce (Chamber) months before the Chamber issued a proposal to relax elements of the nation’s flagship anti-corruption legislation, the Foreign Corrupt Practices Act (FCPA), highlights the need to fully understand the ties between the Chamber and companies charged under the FCPA.

WASHINGTON, DC – After nearly a year of delays, the UK Bribery Act went into effect on July 1st. The act mandates stiff penalties, including up to 10 years in jail, for bribes paid by any business with a UK presence. In an ironic twist, while the UK Act is being touted as an extension to its cross-Atlantic counterpart, the U.S. Foreign Corrupt Practices Act (FCPA), anti-bribery proponents charge that the FCPA is under attack.