Trump to Halt FCPA Enforcement, Report Says
President Donald Trump is poised to roll back enforcement of the Foreign Corrupt Practices Act until Attorney General Pam Bondi can issue new enforcement guidelines, Bloomberg reported Feb. 10. Trump is expected to sign an executive order halting FCPA enforcement until all current and past actions are reviewed and the guidelines are issued. A fact sheet being drafted by the administration says "U.S. companies are harmed by FCPA overenforcement because they are prohibited from engaging in practices common among international competitors, creating an uneven playing field," according to the report.
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The report comes about a week after Bondi published a memorandum that appeared to narrow the focus of DOJ prosecutors who investigate FCPA violations. In the memo, Bondi directed prosecutors to focus on foreign bribery offenses that involve the criminal operations of drug cartels and transnational criminal organizations while shifting “focus away from cases that do not involve such a connection.”