THE FOREIGN CORRUPT PRACTICES ACT AND THE OMNIBUS TRADE AND COMPETITIVENESS ACT OF 1988 - DID THEY CHANGE CORPORATE-BEHAVIOR

The author examines the Foreign Corrupt Practices Act (FCPA), the Omni bus Trade and Competitiveness Act of 1988, and some of the cases decid ed under each bill. A survey of the Chief Legal Counsels of Fortune 50 0 companies was done to determine whether U.S. corporations had adopte d new codes of ethics and/or conduct to ensure their firms' compliance with the FCPA and its amendments. The survey also studied whether the firms had changed their sales and marketing practices after these law s were passed. The results indicate that many of the responding firms made some changes; however; new allegations of foreign bribery by Amer ican firms probably indicate that vigorous enforcement of the FCPA mus t be continued.