David Riker, a managing director at Kroll (a sponsor of the FCPA Blog), had this to say today in The Hill’s Congress Blog about efforts by the Chamber of Commerce to change the FCPA:
Invoking the rhetoric of a populist manifesto, the Chamber is trying to make the case that increased enforcement of the FCPA has had a chilling effect on U.S. businesses, causing them to avoid doing deals abroad for fear of setting off a FCPA investigation. But while this sentiment sounds pro-America, it is actually quite the opposite. Beneath the flag-waving sentiment, the Chamber is essentially asking for the U.S. government to look the other way on bribery of foreign officials. That sets a dangerous precedent for a way of doing business that does not favor U.S. corporations.
For the record, we agree.
The Chamber does not speak for all of business. Thanks to FCPA Blog for airing another view, especially from experts at Kroll.
Riker's full comments are worth reading. Zeroing in on the five issues the Chamber wants to change, which happen to be among the top reasons companies fail to prevent bribery, he notes:
"But just because these issues are the most common stumbling blocks for US firms does not mean the law should be amended. The Chamber’s logic on amending the FCPA is akin to raising blood-alcohol limits to reduce the number of drunken driving cases. "
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