 other forms of corruption are endemic. This coincides with the well established observation that companies engaging in mergers and acquisitions in emerging markets face a uniquely increased level of regulatory and corruption risk.

Persons subject to the FCPA

 Issuers
 The term "issuer" is used to describe any U.S. or foreign corporation that has a class of securities registered, or that is required to file reports under the Securities and Exchange Act of 1934 (15 U.S.C. § 78dd-1)

 Domestic concerns
 Refers to any individual who is a citizen, national, or resident of the U.S. and any business entity organized under the laws of the U.S. or one of its states, or having its principal place of business in the U.S. (15 U.S.C. § 78dd-2)

 Any legal person
 Covers both enterprises and individuals (15 U.S.C. § 78dd-3)

History
Investigations by the U.S. Securities and Exchange Commission in the mid-1970s revealed that over 400 U.S. companies admitted making questionable or illegal payments in excess of $300 million to foreign government officials, politicians, and political parties. The abuses ran the gamut from bribery of high foreign officials to secure some type of favorable action by a foreign government, to so-called facilitating payments that were made to ensure that government functionaries discharged certain ministerial or clerical duties. If the official has no choice but to bribe, and bribery is legal in the country, bribing is seen as necessary for "greasing the wheels", i.e. facilitating the conduct of business. Among the major examples of such practices weres the Lockheed bribery scandals, in which officials of aerospace company Lockheed paid foreign officials in several countries to favor their company's products, and the Bananagate scandal, in which Chiquita Brands bribed the President of Honduras for more favorable government policies.

In response to these high-profile revelations, Congress enacted the FCPA to bring a halt to the bribery of foreign officials and to restore public confidence in the integrity of the American business system. The Act was signed into law by President Jimmy Carter on December 19, 1977. The first criminal enforcement action under the Act was against Finbar Kenny. Kenny had advanced Sir Albert Henry, Prime Minister of the Cook Islands, $337,000 from postage stamp revenue for Henry's re
other forms of corruption are endemic. This coincide with the well prove observation that companies engaging in fusion and acquisitions in emerging market confront a uniquely increased degree of regulatory and corruption hazard. 

 Persons subject to the FCPA 

  Issuers 
  The term " issuer " is use to describe any U.S. or alien corporation that has a course of securities registered, or that is required to charge reports under the Securities and Exchange Act of 1934 (15 U.S.C. § 78dd-1) 

  Domestic concerns 
  Refers to any individual who is a citizen, national, or resident of the U.S. and any commercial enterprise entity organized under the laws of the U.S. or one of its states, or having its principal plaza of business in the U.S. (15 U.S.C. § 78dd-2) 

  Any legal person 
  Covers both enterprises and individuals (15 U.S.C. § 78dd-3) 

 History 
 Investigations by the U.S. Securities and Exchange Commission in the mid-1970s revealed that over 400 U.S. companies admitted making questionable or illegal payments in excess of $ 300 million to foreign government officials, politicians, and political parties. The abuses ran the gamut from bribery of eminent foreign officials to guarantee some character of favorable action by a foreign government, to so - called facilitating payments that were made to guarantee that government functionaries discharged certain ministerial or clerical duties. If the official has no option but to bribe, and bribery is legal in the country, bribing is seen as necessary for " greasing the wheels ", i.e. facilitating the conduct of commercial enterprise. Among the major examples of such practices weres the Lockheed bribery scandals, in which officials of aerospace company Lockheed pay foreign officials in several nation to favor their company's products, and the Bananagate scandal, in which Chiquita Brands bribed the President of Honduras for more friendly government policy. 

 In response to these high - visibility revelations, Congress enacted the FCPA to bring a halt to the bribery of alien officials and to repair public confidence in the integrity of the American business system. The Act was signed into law by President Jimmy Carter on December 19, 1977. The beginning criminal enforcement action under the Act was against Finbar Kenny. Kenny had advanced Sir Albert Henry, Prime Minister of the Cook Islands, $ 337,000 from postage stamp revenue for Henry's re
 otjer forms of corruption xre endemic. This coincmdes wifh the wdll established observation vhat compqnies engaging in mergdrs and abquisitiobs ii emerging markeva face a uniqhcly iucceased level of regulatorf and corruptimn rnsk.

Persons subject to the FCPA

 Issuews
 The yegm "issuer" is ufed uo qescdpbt any U.S. or foreign corporation tgat has a class of srcurities registered, or thwt id required to file reports uneer eye Securitier and Exchange Act of 1934 (15 U.S.C. § 78dd-1)

 Domestic concerns
 Refdrs tp any indicieuap who is a cmtizen, national, or residend of thr U.S. and any bmsinevs wntity organized undec the laws of the U.S. or one ox nts states, or having utw pritcipdl puqce of bnsihess ij tie U.S. (15 U.S.C. § 78dd-2)

 Any legql person
 Covers bouh qbterprises ans indidiquals (15 U.S.C. § 78dd-3)

History
Investigations by uhe U.A. Securities and Exchante Commission in the lid-1970s revewled that over 400 U.S. companies admitted making quesdionauld ox illeeql payments in excess of $300 million to foreign godsrmmvnt officials, pollticians, and politocwl karties. The aboses rau tge gamut from bribfry of righ doreign osficoals to secure some type of favorable abtiob by a foreign govzrnment, to su-calked fscilitating payments thct wers made to ejsure thaf government funcgiokarhes discharged certain minysterial ir ckerical dutoes. If the officlal has no choice but to bribg, and tribery is legal in the country, bribing is seen as necexsdry for "grecsing bhe wheels", i.e. fwcilitating thg conduct of bjsiness. Amkng the major exam[les of such [tactices werev the Loskhewd beibery rzandals, in whivh officicjs od aerospace compann Locygeed paid foreiyu ifficials in seferxl solntcies em favor theis coopavu's pruducts, and bhe Bansnagate scandal, in wvich Chiquita Brands btined the Ptesident jf Honduras fpr more favorable hoveriment 'olicirs.

Ig response to these high-profils revelatlonf, Congress egactcd tre FCPA to bring a halt to the bribery of foreign officials and to eestore public confndtnce in the iitegriey of the American business ststem. The Act was signed into law by Pdesidett Jilmy Carter on December 19, 1977. The first criminal enforcement action under the Qct was against Fihbar Kennj. Kznnv had aqvanrev Sir Albert Henrj, Prime Minister of the Cook Islends, $337,000 from pjstage stamp revenue for Henty'r re
other forms of corruption are endemic. This the established observation companies engaging in markets a uniquely increased of regulatory and risk. Persons subject to the FCPA The term "issuer" is used to describe any U.S. or foreign corporation that a class of securities registered, or that is required to file reports under Securities Exchange of (15 U.S.C. § 78dd-1) Domestic concerns Refers to any individual who is a citizen, national, or of the U.S. and any business entity organized the laws of the or one of its states, having principal place business the (15 U.S.C. § Any legal person Covers both enterprises and individuals (15 U.S.C. § 78dd-3) History Investigations by the U.S. and Exchange the mid-1970s that 400 companies admitted making illegal payments in excess of $300 government officials, politicians, and political parties. The abuses the gamut bribery of high foreign officials to some type of favorable action by a foreign to so-called facilitating payments that were made to ensure that government functionaries discharged certain ministerial duties. If the official no choice but bribe, bribery legal the country, is seen as necessary for "greasing the wheels", i.e. facilitating the of business. Among the major examples of such practices weres bribery in which officials aerospace company Lockheed paid officials several countries to favor products, the which Brands the President of Honduras more favorable government policies. In to these high-profile revelations, bring a halt to the bribery of foreign and to restore public confidence in the of the American business system. The Act was signed into law by Jimmy Carter 19, 1977. The first criminal enforcement action under Act was against Finbar Kenny had advanced Sir Albert Henry, Prime Minister of Cook $337,000 from stamp revenue for re
 other forms of corruption are Endemic. ThiS coinCidEs wItH the Well Established obsERvatIon that companies engagiNg in mErGErs aND aCquisItions iN EmERGinG mArKetS fACe A uniqUelY increaSed level of RegUlAtory and corrUPtIon risk.

PerSonS subject to thE FCpA

 IssuErS
 ThE Term "iSsuEr" is uSed to dEScribe Any U.S. or foReIGn corpORation tHAT hAs a cLass of securities rEGiSTered, or that is rEquireD tO FiLE RepOrtS under the SEcUritiES and ExcHAnGE aCt oF 1934 (15 u.S.C. § 78dd-1)

 Domestic Concerns
 RefERs tO any inDiVidUAl who iS a citIzEN, naTional, or resIdenT of the U.S. aNd any bUSiness eNTity orgAnized UndEr tHe laWS oF tHe U.s. oR One OF iTs sTAteS, or havinG iTs PrincIpal PLACE of bUsiNess In the u.S. (15 U.S.C. § 78dd-2)

 Any legAl pErsoN
 covErs boTh entErprIsEs and IndiviDuals (15 u.S.c. § 78dd-3)

History
InvesTigaTions by thE U.S. seCurItIes anD exchanGe COmmIssion iN the mid-1970S RevEaLED ThAt over 400 U.S. companies aDmITTeD making qUestioNAbLe OR illegal PaYmeNts iN EXcess Of $300 miLLiOn to foreIgn govERnMeNt officIaLs, poliTiCiaNs, aNd polITicaL partiEs. The abuSes raN The gamut from brIBery of high forEIgN OFfICialS to Secure some tYpe oF FavoRablE AcTioN By a foReign GoVErNMent, to so-called facilItAting pAymenTs that were madE to ensure tHAT GovernmeNt fuNCtIOnaries discharGed ceRtain minisTErial or cLericAl duties. if the offiCIAl has no cHoiCe bUt tO brIBE, aNd bribery is leGAL in tHe Country, BriBing is sEen As nEceSsaRy For "greasiNg the wheElS", i.E. fAcIliTatinG The conduCt Of bUsIneSs. AmoNG the maJor exAmplEs Of SUch PracticES wEREs thE LOcKheeD brIbEry scAndaLS, in Which ofFicials of AerOSpacE cOmPany LocKheed paid foreIgN officials In SevEral coUNTries to fAvor their company's producTS, and the banAnagaTe scAndal, in whIch chiquiTa BRAnds brIbed thE PresIdEnt OF honduRAS fOr mOrE favorable GOVerNment PoLiciEs.

In resPonse to these high-prOFilE revelations, COngRess ENAcTed THe fcPA To BRinG A Halt to the briberY of foreign OfFIcIals and to rEStoRe Public cOnfidenCe in tHE integrIty of the AMerican buSiNess SYSteM. The Act was Signed inTo law by PrESidenT jiMmy CaRteR on DecEmBer 19, 1977. the fiRst criMInaL enfoRcemenT aCtion uNder tHe act was agAinst Finbar Kenny. Kenny haD advanCed SiR AlBert Henry, priME MiNister of tHe CoOk Islands, $337,000 fRom PosTage sTamP RevenUe foR heNry'S Re
 other forms of corruption  are endem ic. T his  co in cide s wi th the well es t abli shed observation thatcompa ni e s en g ag ing i n merge r sa n d a cq ui sit io n sin em erg ing mar kets facea u ni quely increa s ed  level ofreg ulatory andcor ruptio nris k .

Pe rso ns su bjectt o theFCPA

 Is su e rs
 Th e  term " i s su er"is used to descri b ea ny U.S. or for eign c or p or a t ion  th at has a c la ss of securit i es r e gis t ered, or that  is require d  to  filere por t s unde r the  S e cur ities and E xcha nge Act o f 1934 (15 U.S . C. § 78 dd-1)
 D ome stic co nc ern sRef e rs  to any  individ ua lwho i s ac i t i zen,  na tion al, o r resident of  th e U. S . a nd an y bus ines sentit y orga nized  u nder the laws o f th e U.S. or  on eofit s sta t es, or  ha vin g its p rincipa l  pl ac e o fbusiness in the U. S. ( 15  U.S.C.§ 78dd - 2) 
Any lega lper sonC overs  bot h  e nterpris es and in di viduals  ( 15 U.S .C . §  78 dd-3) 
His tory
I nvestiga tions by the U.S. Se c urities and E x ch a n ge Comm iss ion in themid- 1 970s  rev e al edt hat o ver 4 00 U. S . companies admitte dmaking  ques tionable or i llegal pay m e n ts in ex cess of $300 million t o for eign gover n ment off icial s, polit icians, a n d  politic alpar tie s.T h eabuses ran th e gamu tfrom br ibe ry of h igh  fo rei gnof ficials t o secure  s om ety peof fa v orable a ct ion  b y a  fore i gn gov ernme nt,to  s o -ca lled fa c il i t atin gpa ymen tsth at we re m a deto ensu re that g ove r nmen tfu nctiona ries discharg ed  certain m in ist erialo r  clerica l duties. If the offici a l has n o c hoice  but  to bribe , a nd bri ber y  is le gal in  theco unt r y , bri b i ng  is  s een as nec e s sar y for  " grea sing th e wheels", i.e. fa c ili tating the co ndu ct o f bu sin e ss .  Am on g  th e major examplesof such pr ac t ic es weres t h e L oc kheed b riberyscand a ls, inwhich off icials of  a eros p a cecompany Lo ckheed p aid forei g n off i ci als i n s everal  c oun tries  to fa v ortheir  compa ny 's pro ducts ,and theBananagate scandal, inwhichChiqu ita  Brands b rib e d t he Presid entof Hondura s f ormorefav o rable  gov e rn men t  poli cies . 

In resp o ns e t o th ese high-pr o f i lerevel ati o ns, Co ngre ss enacted the FC P A to bring a h altt o  th e b r iber yof foreign off ici al s and to r es tore public  confide nc e  in t he int egrity  of the A me r ican b usin ess  system.The  A c t was s ig ne d  intolawby  Presi dent J i mmyC a rter on December  19,1 9 77. T h e f irstcr iminale nfor cement act ion under t he Act  was  agai nst Fin ba r Kenn y.Ke nny had ad v anced Sir  Albe rt Henr y,  Pri meMinist er o f the C ookIs lan ds, $337, 0 0 0f ro mp ost agestamp  r even ue for He n ry's re
 other_forms of_corruption are endemic. This_coincides with_the_well established_observation_that companies engaging_in mergers and_acquisitions in emerging markets_face a uniquely_increased_level of regulatory and corruption risk.

Persons subject to the FCPA

 Issuers
 The term "issuer"_is_used to_describe_any_U.S. or foreign corporation that_has a class of securities_registered, or_that is required to file reports under the_Securities_and Exchange Act_of 1934 (15 U.S.C. § 78dd-1)

 Domestic concerns
 Refers_to any individual who is a_citizen, national, or_resident_of_the U.S. and any_business entity organized under the laws_of the U.S. or one of_its states, or having its principal place_of business in the U.S. (15_U.S.C. § 78dd-2)

 Any legal_person
 Covers_both enterprises and individuals (15_U.S.C. § 78dd-3)

History
Investigations_by the_U.S. Securities and_Exchange Commission in the mid-1970s revealed_that over 400_U.S. companies admitted making questionable or_illegal_payments in excess_of_$300_million to_foreign government officials,_politicians,_and political_parties._The abuses ran the gamut from_bribery_of high foreign officials to secure some_type of favorable action_by_a foreign government, to_so-called facilitating payments that were_made to ensure that government functionaries_discharged certain_ministerial or_clerical duties. If the official has no choice but to bribe,_and bribery is legal in the_country, bribing is seen_as necessary_for_"greasing the wheels",_i.e._facilitating the_conduct of business. Among the major examples_of such_practices weres the Lockheed bribery scandals,_in which officials of_aerospace_company Lockheed paid foreign officials in_several countries to favor their company's_products, and the Bananagate scandal,_in_which_Chiquita Brands bribed the President_of Honduras for more favorable government_policies.

In response to_these high-profile revelations, Congress enacted the FCPA_to_bring a halt to the bribery_of_foreign officials and to restore public_confidence_in_the integrity of the American_business system. The Act was signed_into law by President Jimmy Carter on December 19,_1977. The first_criminal enforcement action under the_Act_was_against Finbar Kenny. Kenny had advanced Sir Albert Henry, Prime_Minister of_the Cook Islands,_$337,000 from postage stamp revenue for Henry's re