Why was the Foreign Corrupt Practices Act created? Please explain.
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- The Foreign Corrupt Practices Act (FC PA) was implemented in 1977. Why was it enacted, and what are its major provisions?1. Is payment of bribes an unacceptable business practice within the U.S.? Justify youranswer with supporting evidence.When does insider trading occur? What government agency is responsible for protecting against the unethical practice of insider trading?
- What is the difference between grease payment and bribery? Is grease payment legal per FCPA and per the law of all other countries?2. If payment of bribes is an acceptable business practice in a foreign country, how should a U.S. based parent company react to such practices when doing business in the foreigncountry? Defend your answer.Under the Foreign Corrupt Practices Act of 1977 (FCPA): a. No US person or company that has securities listed on US markets may make a payment to a foreign officical for the purpose of obtaining or retaining business (pay a bribe) b. Companies that have securities listed on U. S. markets must make and keep financial records that accurately and fairly reflect transactions of the company and must design and maintain an adequate system of internal accounting controls. c. Certain payments to foreign officials known as “grease payments” made to an official to expedite the performance of duties that the official would already be bound to perform are permitted. d. only A and B are included in the FCPA e. A, B, and C are included in the FCPA
- Indeed, there is the view that market abuse and insider dealing are not immoral and are victimless crimes. Others stated that insider trading had the capacity to significantly undermine the integrity and efficiency of the relevant securities markets. Do you think that insider trading should be regulated or not by the Government? Do you think that insider trading is occurring in Antigua and Barbuda? Critically discuss.Contrast the concept (how they are similar or different from each other) Illegal appropriation vs. corruption corruption vs. Fraud in the states Fraud in the states vs. illegal appropriation explain the concept illegal appropriation Corruption Financial Statement FraudWhat is economic extortion and what controls can be implemented to prevent or detect this kind of fraud?
- Which of the following is true about the Sarbanes-Oxley Act? A. It was passed to ensure that internal controls are properly documented and tested by public companies. B. It applies to both public and smaller companies. C. It requires all companies to report their internal control policies to the US Securities and Exchange Commission. D. It does not require additional costs or resources to have adequate controls.In the United States, there are various forms of economic oversight that are performed bythe government. Sometimes the government will step in when they feel the need toencourage competition in a particular industry and to break up companies that have nearlycomplete control over a particular market. What is this called when the government initiatesaction against companies that appear to have too much power?
