Foreign Corrupt Practices Act Cases Rise, Fines Mounting – TIME

Why must Daimler AG, the German automaker, pay big fines to the U.S. government because two of its subsidiaries, one in Germany and the other in Russia, made improper payments to government officials of countries other than the U.S., such as China, Egypt and Serbia?

Welcome to the age of the Foreign Corrupt Practices Act (FCPA), a far-reaching bit of American legislation that cracks down on corporate bribery in all its forms and is rattling the cages of corporate chiefs the world over. The Department of Justice (DOJ) has jurisdiction over all related criminal violations under the act, and the Securities and Exchange Commission (SEC) keeps tabs on the civil violations committed by U.S. companies. What’s more, the law doesn’t just mean the U.S. government is looking for past incidents of corruption; it’s also stirring the pot to see who may be corruptible in the future.

via Foreign Corrupt Practices Act Cases Rise, Fines Mounting – TIME.

Global Integrity Drops China From Corruption-Watch List – WSJ.com

China was one of three countries dropped from a corruption-watch list created by non-profit anti-corruption group Global Integrity, which released its annual report earlier this week.

The other countries removed from the watch list were Georgia and Serbia. The Washington, D.C.-based group warned that being dropped from the list doesn’t mean corruption stopped in the countries, but rather that they made progress by establishing minimum anti-corruption safeguards.

via Global Integrity Drops China From Corruption-Watch List – WSJ.com.