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Stephenson, Matthew C. --- "Beware blowback: how attempts to strengthen FCPA deterrence could narrow the statute’s scope" [2018] ELECD 255; in Arlen, Jennifer (ed), "Research Handbook on Corporate Crime and Financial Misdealing" (Edward Elgar Publishing, 2018) 175

Book Title: Research Handbook on Corporate Crime and Financial Misdealing

Editor(s): Arlen, Jennifer

Publisher: Edward Elgar Publishing

ISBN: 9781783474462

Section: Chapter 6

Section Title: Beware blowback: how attempts to strengthen FCPA deterrence could narrow the statute’s scope

Author(s): Stephenson, Matthew C.

Number of pages: 20

Abstract/Description:

Advocates of stronger enforcement of the Foreign Corrupt Practices Act (FCPA) have proposed a number of reforms—such as the creation of a private civil remedy, more aggressive targeting of individual defendants, and expanded use of corporate debarment—that would, according to proponents, deter FCPA violations more effectively. That may well be, but this chapter points out that such reforms might also lead to a substantive narrowing of the FCPA, because such reforms would lead to more litigation, much of it against more sympathetic defendants, and this in turn could lead to both judicial narrowing of ambiguous statutory terms and Congressional revisions to the statute. The possible unintended consequence should be considered when conducting a more comprehensive evaluation of the costs and benefits of proposed FCPA reforms.