The Birth of Modern Transnational Bribery Law
The Birth of Modern Transnational Bribery Law
This chapter traces the development of modern transnational bribery law in the United States. After a brief discussion of the U.S. Supreme Court’s decision in Oscanyan v. Arms Co., it traces the evolution of domestic anti-bribery law in the United States through the twentieth century. It then discusses the Watergate investigation and scandals involving companies such as Lockheed and United Brands that led to enactment of the U.S. Foreign Corrupt Practices Act of 1977. The historical record sheds light on the moral and economic motivations behind this landmark legislation. Subsequent amendments to the FCPA and related statutes, such as the Sarbanes-Oxley Act, are also discussed.
Keywords: FCPA, Lockheed, Oscanyan v. Arms, Sarbanes-Oxley Act, United Brands, Watergate
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