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As Fight Over FCPA Heats Up, Banks Await Direction
By Colby Adams
printPending U.S. guidance for the country's foreign anti-bribery law and an ongoing political push to amend its rules could mean compliance changes for banks and other businesses, say analysts. In November, U.S. Assistant Attorney General Lanny Breuer said that Justice Department officials would publish guidance for the Foreign Corrupt Practices Act (FCPA) in 2012. The clarification for how the 1977 law will be enforced stems from a mandate included in a congressional amendment passed in 1988. The expected guidance roughly coincides with a push by the U.S. Chamber of Commerce to scale back the reach of the law, which prohibits...
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