Legal Regulations On Transnational Business Bribery

With much closer commercial ties between countries, multinationals take every measure in obtaining and securing business interests. The act of bribery to foreign officials and officials of international organizations becomes more severe than ever. This act substantially influences the international business trade and impairs the fair competitive market order. For restraining the occurrence of the act, the American Congress drafted FCPA (Foreign Corruption Practices Act) in 1977. The FCPA is the first enacted domestic law in the world to regulate the behavior of paying bribes to foreign officials. The act includes two parts: anti-bribery provisions and accounting provisions. With the spread of the act, other countries also enact their own foreign corruption practices act, and there are some influential international conventions, for example, United Nations Convention Against Corruption and OECD Convention. To be the second economic entity in the world, China must enact relational laws through copying the FCPA. We not only regulate the behavior of paying bribes to our officials by foreign companies, but also regulate the behavior of paying bribes to foreign officials by our companies. This article consists of three chapters: Chapter one is the conformation and development of transnational bribery law.Firstly, it analyzes the definition of transnational bribery and necessity of regulation. Secondly, it introduces the relational legislations in the world.Chapter two is the basic contents and enforcement of the FCPA. It analyzes accounting provisions and anti-bribery provisions.Chapter three is the enlightenment of legal regulation on transnational bribery for china. It links the FCPA and other international conventions to provide legislative proposal for regulating commercial bribery of multinationals in china and foreign corruption practices of our companies.