President Trump plans to sign an executive order instructing the Department of Justice to temporarily halt the enforcement of the Foreign Corrupt Practices Act (FCPA), citing concerns that the law puts US businesses at a disadvantage compared to international competitors. The pause aims to allow for a review of the law and the development of new enforcement guidelines.
President Donald Trump is poised to sign an executive order instructing the Department of Justice to temporarily suspend the enforcement of the Foreign Corrupt Practices Act ( FCPA ). This nearly 50-year-old law prohibits American companies and foreign entities from bribing foreign government officials to secure or maintain business advantages. The pause aims to mitigate the perceived economic disadvantage faced by U.S. businesses compared to international competitors.
According to Bloomberg, Trump will direct Attorney General Pam Bondi to halt FCPA actions and conduct a comprehensive review of existing and past cases related to the law. Simultaneously, Bondi will be tasked with developing new guidelines for enforcement. A White House official confirmed the report to CNBC, stating that the pause is intended to provide a clearer understanding of how to streamline the FCPA, ensuring its alignment with national economic interests and security priorities.The FCPA, enacted in 1977, was designed to curb the influence of American businesses on widespread public corruption that often undermines the rule of law in various parts of the world. Over time, the FCPA's regulations have become foundational principles guiding American business practices abroad. The law's scope extends beyond direct bribery payments to encompass any instances of bribery offers, plans, or authorizations by a company's leadership. It also broadly defines actions by foreign officials that would trigger violations. Individuals found guilty of violating the FCPA face potential penalties including a maximum prison sentence of 15 years and fines up to $250,000 or three times the monetary value of the bribe demanded by a foreign official. In 2023 alone, 17 enforcement actions were announced under the FCPA
FOREIGN CORRUPT PRACTICES ACT FCPA DONALD TRUMP EXECUTIVE ORDER DEPARTMENT OF JUSTICE ECONOMIC DISADVANTAGE BUSINESS BRIBERY NATIONAL SECURITY
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