Executive Order Pausing Enforcement of Foreign Corrupt Practices Act
President Donald Trump is set to sign an executive order pausing the enforcement of the Foreign Corrupt Practices Act, a law that prohibits American companies and foreign firms from bribing officials of foreign governments to obtain or retain business. The pause is intended to prevent U.S. businesses from being at an economic disadvantage to foreign competitors.
Key Points
- FCPA prohibits bribery of foreign officials
- DOJ to pause enforcement to review and streamline
- Potential impact on American businesses operating overseas
Pros
- Potential economic advantage for U.S. businesses
- Reviewing and streamlining enforcement guidelines
Cons
- Risk of fueling public corruption
- Undermining the rule of law in many parts of the world