Open Access. Powered by Scholars. Published by Universities.®
Articles 1 - 1 of 1
Full-Text Articles in Securities Law
The Foreign Corrupt Practices Act Of 1977: A Private Right Of Action?, Mary F. Lyle
The Foreign Corrupt Practices Act Of 1977: A Private Right Of Action?, Mary F. Lyle
Vanderbilt Journal of Transnational Law
The Foreign Corrupt Practices Act of 1977 (the Act) was passed as a consequence of revelations of foreign and domestic bribes, kickbacks, political payoffs and other questionable financial practices by corporations throughout the past several years. The Act requires issuers of securities subject to the registration and reporting provisions of the Securities Exchange Act of 1934 to comply with specific accounting standards. In addition, the Act provides for civil and criminal liability when an issuer or any domestic concern not an issuer uses the mails or any instrumentality of interstate commerce in furtherance of certain payments to foreign officials...
The …