The Foreign Corrupt Practices Act of 1977 makes it unlawful for certain classes of persons and entities to make payments to foreign government officials to assist in obtaining or retaining business. The US Department of Justice (DOJ) and the Securities and Exchange Commission (SEC) jointly enforce the Act. Per amendments enacted in 1998, the anti-bribery provisions of the FCPA also apply to foreign firms and persons who cause, directly or through agents, an act in furtherance of a corrupt scheme that takes place within the territory of the United States. The FCPA also requires companies whose securities are listed in the United States to meet certain accounting provisions. These accounting provisions, which operate in concert with the anti-bribery provisions of the FCPA, require corporations covered by the provisions to: (a) Make and keep books and records that accurately and fairly reflect the transactions of the corporation and (b) Devise and maintain an adequate system of internal accounting controls.
The following laws, regulations, and guidelines relate to bribery and corruption: