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Business Law, Public Responsibility, and Ethics

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The University of San Francisco

2010

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Managing Foreign Corrupt Practices Act Risks Of Gift, Travel And Entertainment Expenditures, Karl Boedecker Jan 2010

Managing Foreign Corrupt Practices Act Risks Of Gift, Travel And Entertainment Expenditures, Karl Boedecker

Economics, Law, and International Business

Significant increases in Foreign Corrupt Practices Act enforcement activities have heightened the legal risks associated with giving gifts or paying travel and entertainment expenses for U.S. firms when promoting their goods or services in foreign markets. This change in the external environment necessitates appropriate strategic adjustments and managerial actions. The lack of specific standards of conduct under the FCPA’s general prohibitions requires that U.S. firms closely monitor the increasing number of investigations and legal actions initiated by the U.S. Securities Exchange Commission and the U.S. Department of Justice.