The U.S. government will release long-awaited guidance on its enforcement of a foreign bribery law ahead of a meeting of international anti-corruption experts in October, according to people familiar with the matter.
Business groups have long pressed for clarity on the law, the Foreign Corrupt Practices Act, which they argue is vague, over-broad and detrimental to U.S. businesses. Lanny Breuer, a top Justice Department official, promised guidance on the FCPA in November last year but few details have been released since then.
The 1977 law prohibits bribes to foreign officials in exchange for business and is jointly enforced by the Justice Department and the Securities and Exchange Commission.
Two people familiar with the department’s thinking said the guidance would be released before the Justice Department and the SEC send representatives to a meeting of the Organization for Economic Co-operation and Development’s anti-bribery working group. The group will meet on Oct. 10 in Paris for its annual consultation.
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Source: C.M. Matthews | WSJ Blogs