"Prosecuting Foreign Officials For Extortion Won't Stop Businesses Offering Bribes"(#Forbes #Column)
Harry G. Broadman
![Harry G. Broadman]()
Harry G. Broadman
Global Business Executive & Counselor║Board Chair, Audit Committee Chair║Columnist║Keynoter ? EX White House║CFIUS║Private Equity║PwC║World Bank║US Senate║Brookings║Resources for the Future Inc║Harvard, Hopkins Faculties
Does the Foreign Corrupt Practice Act (#FCPA) provide sufficient legal ammunition to deter transactions of #bribes made by US businesses overseas? How much more #corruption will be kept in check by the proposed Foreign Extortion Prevention Act (FEPA) to attack the "demand-side" of such transactions? In my latest monthly for #Forbes, I assess the difference a new law will make. The column is here. Comments are most welcome.
Lead Public Sector Specialist, East Asia and the Pacific, World Bank
5 年Very persuasive, Harry, especially with regard to your remarks about how firms often don’t try hard enough to resist, about the need for collective action, etc. In Vietnam we argued that learning the official rules and asserting ethical positions were akin to investments: might lead to loss of some sales early, but with a long run pay off. Many anecdotes of companies holding firm and being glad they did.
Author/Writer/Screenwriter
5 年Probably not. It is part of the culture in many parts of the world.