The FCPA at Thirty-Five and Its Impact on Global Business
March 16, 2012 | Saxbe Auditorium
In 1977, Congress passed the Foreign Corrupt Practices Act (FCPA), the first domestic statute governing the conduct of domestic companies in their direct and indirect interactions with foreign officials. For most of its existence, the FCPA was sporadically enforced and of concern to only a small portion of the business and legal community. In the past several years, however, the FCPA has surged to the forefront of concerns for international business. For instance, in 2004 there were five FCPA enforcement actions; in 2010 there were seventy-four FCPA enforcement actions and approximately $1.3 billion in total fines and penalties assessed against businesses. Given the recent increase and aggressiveness of enforcement, the FCPA has become a major legal issue for all multinational companies across various industry sectors.
What are the priorities and goals of the FCPA? Is the FCPA effective and an efficient use of resources? What are the appropriate FCPA risk-management strategies for corporations? What international efforts are being made to fight bribery and corruption? What are the effects of the FCPA on the global economy and civil society?
This year’s Ohio State Law Journal Symposium will convene top government officials, leading academics, and experienced practitioners to discuss the many aspects of the FCPA.