When Colorado lost Leonard Perlmutter on July 8, it lost someone who had been one of the most versatile jack-of-all-trades in the...READ MORE
Congressman Introduces Bill to Allow Private FCPA Actions
A Congressman from Colorado has introduced legislation that would allow private legal actions against companies under the Foreign Corrupt Practices Act.
Citing recent corruption scandals, Rep. Ed Perlmutter (D., Colo.) pitched The Foreign Business Bribery Prohibition Act as a way to halt bribery abroad without adding to the deficit.
“This legislation helps encourage foreign companies to play by the rules or be brought to court. Most importantly, it is a way to level the playing field and help U.S. companies compete abroad,” he said.
The bill would allow companies or U.S. citizens harmed by violations of the FCPA to seek trebble damages from persons responsible.
Rep. Perlmutter introduced the bill Thursday. He has introduced different versions of the bill numerous times in the past without them being enacted.
Content originally published by The Wall Street Journal on June 10th, 2016.