A bill to amend the Foreign Corrupt Practices Act of 1977.

Summary

Amends the Securities and Exchange Act of 1934, as amended by the Foreign Corrupt Practices Act of 1977, to define the terms "reasonable assurances" and "reasonable detail" as used in the subsection dealing with recordkeeping and accounting requirements for securities issuers. Declares that an issuer of securities which is required to register with the Securities and Exchange Commission or to file specified reports and does not control the domestic or foreign entity or firm must use its influence to cause the domestic or foreign entity or firm to comply with the recordkeeping and accounting requirements. Sets forth a rebuttable presumption that an issuer does not control a domestic entity or firm if the issuer holds less than 20 percent of the voting securities of the entity or firm. Defines the circumstances under which a foreign government employee's duties are "essentially ministerial or clerical" for purposes of such Act.

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Documents

1 official file

• Introduced in House

  summary · EN · 26 April 1983

  Open at official source

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