Skip to content

Editors

Harry Cassin
Publisher and Editor

Andy Spalding
Senior Editor

Jessica Tillipman
Senior Editor

Bill Steinman
Senior Editor

Richard L. Cassin
Editor at Large

Elizabeth K. Spahn
Editor Emeritus

Cody Worthington
Contributing Editor

Julie DiMauro
Contributing Editor

Thomas Fox
Contributing Editor

Marc Alain Bohn
Contributing Editor

Bill Waite
Contributing Editor

Shruti J. Shah
Contributing Editor

Russell A. Stamets
Contributing Editor

Richard Bistrong
Contributing Editor

Eric Carlson
Contributing Editor

NYC Lawyers Knock FCPA’s Drag On Business

Thirty four years after passing the FCPA, Congress is still under pressure to create a level playing field for U.S. businesses operating overseas.

Speaking out now is the New York City Bar Committee on International Business Transactions. The group of mainly deal lawyers has published a report on the effects that the FCPA has on cross-border transactions.

The paper concludes with the findings that (1) the United States has pursued, and is currently pursuing, a virtually stand-alone approach to deterring foreign corruption (at least in terms of enforcement activity and the significance of fines and other sanctions), (2) this approach places significant costs on companies that are subject to the FCPA as compared to their competitors that are not—i.e., there is a significant asymmetry in regulation and enforcement—and (3) if these circumstances are unlikely to change (e.g., through a substantial portion of other relevant countries adopting similar enforcement postures), the United States should reevaluate its approach to the problem of foreign corruption.

There are over 23,000 members of the NYC Bar Association — most of them in the New York area, but also in nearly every state and over 50 countries. The association does not have any sections (it is not organized that way). There are 20 members on the Committee on International Business Transactions.

A copy of the report is available here.

Share this post

LinkedIn
Facebook
Twitter

Comments are closed for this article!