dolution

In Chapter 2 there is discussion of how high degrees of bribery and corruption work to hold back economic development in the less developed countries in the world. However, much of the money involved in the bribery schemes comes from companies in the developed world looking to do business in those less developed companies. For example, Chapter 2 discuss the Walmart Mexican bribery case. Regulation has been implemented in the US – the Foreign Corrupt Practices Act (FCPA) and the Cardin-Lugar provision in the 2010 Dodd-Frank financial reform law- to prevent companies from engaging in these schemes.

However recently there has been discussion and legislative action regarding these anti-bribery regulations. Do some research about these regulations and address the following questions. Do not respond to all the questions in single post. I understand the some of you might have strong feelings about some of these issues but let’s engage in a non-partisan discussion of these matters and debate the good and harmful aspects of these measures.

· What is the FCPA?

· What is the Cardin-Lugar provision in the 2010 Dodd-Frank financial reform law?

· What actions do US companies have to take to comply with the regulations?

· Do the regulations put US companies at a competitive disadvantage in the global marketplace?

· What action has recently been taken on these regulations?

· What is the reasoning behind the recent legislative action?

· Is this a good idea or not?