June 21st, 2011
Global Financial Integrity’s Legal Counsel and Director of Government Affairs Heather Lowe has
written a guest blog on FCPA Professor in response to
criticisms of GFI’s
press release about the Chamber of Commerce’s proposed changes to the FCPA. Ms. Lowe examined the FCPA in relation to the new UK Bribery Act, noting that unlike the FCPA, “The UK Bribery Act criminalizes ALL forms of commercial bribery”. As a result, a compliance defense under the UK Bribery Act has different ramifications than under the less encompassing FCPA.
She further notes that “Compliance in the UK is not...
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June 20th, 2011
One of the main problems underlying the current crisis in the Eurozone is that the conditions set out in the Maastricht Treaty which lay the economic foundation of the zone are not congruent with the criteria needed to form an optimum currency area. The criteria under the Maastricht Treaty namely are (i) a rate of inflation no more than 1.5 percentage points higher than the average of three EU members with the lowest inflation rates (ii) a ratio of the annual government deficit to GDP not to exceed 3% at the end of the preceding fiscal year or...
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June 15th, 2011
Rep. Jim Sensenbrenner (R-WI) and the U.S. Chamber of Commerce are trying to gut the world's flagship anti-corruption legislation, but "we must stand firm in our values, our principles, and our promises," writes Ann Hollingshead
I’m a little annoyed. I say “a little” only out of a desire to stay civil.
Today the House Judiciary committee held a hearing on the Foreign Corrupt Practices Act (FCPA), the flagship U.S. legislation that makes it illegal to bribe a foreign official. The Securities and Exchange Commission (SEC) and Department of Justice (DOJ) have jurisdiction over the FCPA, which was unique worldwide for almost...
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June 13th, 2011
WASHINGTON, DC – The House Judiciary Committee will convene a hearing tomorrow to consider whether to amend the Foreign Corrupt Practices Act (FCPA), the nation’s flagship anti-corruption legislation. Among other things, the hearing will specifically consider amendments proposed to the act by the U.S. Chamber Institute for Legal Reform, an affiliate of the U.S. Chamber of Commerce, which FCPA-proponents charge will significantly weaken the anti-corruption legislation and undermine efforts to tackle corruption and illicit financial practices abroad.
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