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Restoring Pre-Existing Compliance Through The Fcpa Pilot Program, Andrew B. Spalding

Law Faculty Publications

For a quarter-century, incentives to invest in corporate compliance programs have been a cornerstone of federal white-collar enforcement. But the U.S. Department of Justice's most recent announcement of anti-bribery enforcement policy-the FCPA Pilot Program-takes a peculiar and possibly inadvertent turn. In providing newly transparent and explicit penalty reductions, and rolling out the Department's declination policy, the program neglects to incentivize investments in pre-existing compliance. Though remedial, or postviolation, compliance receives a newly heightened importance, pre-existing compliance receives virtually no attention. This is strange, but should not be understood as a new policy change on the benefits of pre-existing compliance; no …

The Irony Of International Business Law: U.S. Progressivism And China's New Laissez Faire, Andrew B. Spalding

Law Faculty Publications

As the financial crisis draws U.S. business overseas and developing countries rise in influence, the regulation of international business has never figured so prominendy in federal law. But the dominant paradigm through which academics and policymakers continue to view that law-the so-called Washington Consensus-proves deeply misleading. A more accurate account of the components, origins, and aims of U.S. international business law reveals two striking ironies.

First, in discrete but critical ways, the United States no longer represents the comparatively laissez-faire approach to federal business regulation. Rather, owing to its origins in the Progressive Era, U.S. federal law directs corporations toward …

Unwitting Sanctions: Understanding Anti-Bribery Legislation As Economic Sanctions Against Emerging Markets,, Andrew B. Spalding

Law Faculty Publications

Although the purpose of international anti-bribery legislation, particularly the U.S. Foreign Corrupt Practices Act (FCPA), is to deter bribery, empirical evidence demonstrates a problematic collateral effect. In countries where bribery is perceived to be relatively common, the present enforcement regime goes beyond the deterrence of bribery, and ultimately deters investment. Drawing on literature from political science and economics, this Article argues that anti-bribery legislation, as presently enforced, functions as de facto economic sanctions. A detailed analysis of the history of FCP A enforcement shows that these sanctions most often occur in emerging markets, where historic opportunities for economic and social …

Moderating Antitrust Subject Matter Jurisdiction: The Foreign Trade Antitrust Improvements Act And The Restatement Of Foreign Relations Law (Revised), Daniel T. Murphy

Law Faculty Publications

Within the last several years two approaches have been taken to tempering the extraterritorial application of the United States antitrust laws. In October 1982 the Foreign Trade Antitrust Improvements Act of 1982 (the "FTAIA") was signed into law. In addition, for the past four years the American Law Institute has been engaged in an effort to revise thoroughly the Restatement of Foreign Relations Law of the United States. It is expected that this effort will culminate in May 1986 with the promulgation of the Restatement of Foreign Relations Law of the United States (Revised) (the "Restatement (Revised)"). These two efforts …

The Export Trade Association Act Of 1981--A Brief Analysis, Daniel T. Murphy

Law Faculty Publications

Concern over the dramatic competitive decline of the United States in the realm of free world exporting has led to the "introduction into the United States Senate of S. 144, the Export Trade Association Act of 1981, "[a] bill to encourage exports by facilitating the formation and operation of export trading companies, export trade associations, and the expansion of export trade services generally ... . m This bill contains two parts. Title I, referred to as the Export Trading Company Act of 1981, is intended to encourage the formation and operation of export trading companies by allowing financial institutions, such …