I Introduced legislation that would enable individuals and companies to take legal action against corporate corruption. Current law only allows the Department of Justice (DOJ) and the Securities and Exchange Commission (SEC) to bring enforcement actions under the Foreign Corrupt Practices Act (FCPA).
President Trump has criticized the FCPA saying, “It’s a horrible law and it should be changed.” Additionally, Jay Clayton - President Trump’s nominee to head the SEC - has argued for less onerous restrictions for U.S. and foreign companies with respect to the FCPA.
Given the new leadership at the DOJ and SEC, this legislation is more important than ever. Corruption and bribery undermine the pillars of democracy and erode trust. The potential for lack of oversight for foreign corruption is a serious concern given President Trump, his family business, and his surrogates’ questionable business ties. President Trump has failed to meaningfully divest or sever ties with the Trump Organization, and his family continues to enrich themselves by seeking business deals all over the world. This presents conflicts of interest, but also potentially violates the FCPA and the emoluments clause of the U.S. Constitution. We must hold them and other bad actors accountable.