definition for: #ForeignCorruptPracticesAct

The Foreign Corrupt Practices Act (FCPA), a federal law, dates to 1977. It essentially concerns itself with prevention of bribe giving by American companies to foreign government officials and other political figures for getting business done or for showing business favors. Its two provisions The FCPA contains two provisions, each enacted by different departments. The first of these is the anti-bribery provisions, whose enforcement is done by the Department of Justice. Its second provision relates to accounting practices, and the task of enforcement of this provision is left to the Securities and Exchange Commission (SEC).