A New Affirmative Defense to the FCPA for Countries Exiting Major Internal Strife
13 Richmond Journal of Global Law and Business 545, 2014
18 Pages Posted: 6 Oct 2014
Date Written: September 25, 2014
In 1977, in the wake of the largest political scandal in American history, the U.S. Congress passed the Foreign Corrupt Practices Act (FCPA). Facing the threat of massive fines, the U.S. and U.S.-affiliated companies began pulling back from investing in countries that were perceived as “corrupt.” While this is one of the specific goals of the FCPA, there have also been unintended consequences. In particular, this law has harmed countries that have a history of corruption, but because of some form of major internal strife ending recently, are in the perfect position for U.S. companies to enter their market and positively influence the development of a more transparent market. As no current exception or affirmative defense adequately protects this type of action, this paper proposes a new affirmative defense allowing companies to receive permission to enter these nations with a few restrictions.
Keywords: FCPA, Sudan, Corruption, Bribery, International Law, Business Law, Anti-Bribery, Anti-Corruption
JEL Classification: K22, K23, K33
Suggested Citation: Suggested Citation