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Foreign Corrupt Practices Act

The FCPA can apply to prohibited conduct anywhere in the world and extends to publicly traded companies and their officers, directors, employees, stockholders, and agents. The FCPA also requires issuers to maintain accurate books and records and have a system of internal controls sufficient for compliance with the law’s requirements.

The Foreign Corrupt Practices Act of 1977, as amended, 15 U.S.C. §§ 78dd-1, et seq. (FCPA), was enacted for the purpose of making it unlawful for certain classes of persons and entities to make payments to foreign government officials to assist in obtaining or retaining business.

The FCPA is designed to prevent individuals and entities subject to U.S. law from making illicit payments or bribes as a condition to obtaining or retaining business. It is primarily enforced by the Department of Justice and the Securities and Exchange Commission.

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