International Anti-Bribery and Fair Competition Act of 1998
Latest action (9 Oct 1998): On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote.
What this bill does
H.R. 4353 would amend the Foreign Corrupt Practices Act of 1977 and the Securities Exchange Act of 1934 to broaden and strengthen U.S. law against bribing foreign officials. It would expand the definition of prohibited purposes for bribes to include "securing any improper advantage," extend the definition of "foreign official" to cover officials of public international organizations, and add "alternative jurisdiction" provisions allowing U.S. prosecution of American issuers, domestic companies, and U.S. persons for corrupt acts committed entirely outside the United States, even without use of U.S. mail or interstate commerce. It also creates a new provision covering foreign persons and companies who commit bribery-related acts while within U.S. territory, with defined penalties, defenses (such as payments legal under local law or reasonable business expenses), and an exception for routine, non-discretionary government actions like permit processing.
The bill affects publicly traded companies ("issuers"), domestic businesses, their officers, directors, employees, agents, and shareholders, as well as foreign nationals and firms acting within the United States. It sets criminal penalties (fines up to $2,000,000 for organizations and up to $100,000 and five years' imprisonment for individuals who willfully violate the law) and civil penalties enforced by the SEC or the Attorney General, depending on the type of entity involved.
The bill was introduced by Rep. Tom Bliley in July 1998, reported by the House Commerce Committee, and passed the House by voice vote on October 9, 1998. According to the official record, it was never taken up or passed by the Senate, so it did not become law.
Plain-English summary generated by Bill100 AI from the official record. Always verify against the source below.
Official summary
This bill was introduced in a previous session of Congress and was passed by the House on October 9, 1998 but was never passed by the Senate.
Timeline
9 Oct 1998
On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote.
24 Sep 1998
Ordered to be Reported (Amended) by Voice Vote.
Common questions
- What does H.R. 4353 do?
- H.R. 4353 would amend the Foreign Corrupt Practices Act of 1977 and the Securities Exchange Act of 1934 to broaden and strengthen U.S. law against bribing foreign officials. It would expand the definition of prohibited purposes for bribes to include "securing any improper advantage," extend the definition of "foreign official" to cover officials of public international organizations, and add "alternative jurisdiction" provisions allowing U.S. prosecution of American issuers, domestic companies, and U.S. persons for corrupt acts committed entirely outside the United States, even without use of U.S. mail or interstate commerce. It also creates a new provision covering foreign persons and companies who commit bribery-related acts while within U.S. territory, with defined penalties, defenses (such as payments legal under local law or reasonable business expenses), and an exception for routine, non-discretionary government actions like permit processing. The bill affects publicly traded companies ("issuers"), domestic businesses, their officers, directors, employees, agents, and shareholders, as well as foreign nationals and firms acting within the United States. It sets criminal penalties (fines up to $2,000,000 for organizations and up to $100,000 and five years' imprisonment for individuals who willfully violate the law) and civil penalties enforced by the SEC or the Attorney General, depending on the type of entity involved. The bill was introduced by Rep. Tom Bliley in July 1998, reported by the House Commerce Committee, and passed the House by voice vote on October 9, 1998. According to the official record, it was never taken up or passed by the Senate, so it did not become law.
- Has H.R. 4353 become law?
- Not yet. As of 9 Oct 1998, H.R. 4353 is passed house (senate next).
- Who sponsored H.R. 4353?
- H.R. 4353 was sponsored by Rep. Tom Bliley [R-VA7, 1993-2000] (Republican-VA), with 10 cosponsors.
- What's the latest action on H.R. 4353?
- On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (9 Oct 1998).
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