Abstract
This study examines the 1977 United
States Foreign Corrupt Practices Act and its recent re-interpretation by the
U.S. Department of Justice. The original motivation for and concerns about the
legislation are examined with particular attention to the two competing
regulatory approaches at the time of the congressional debate: (1) the
Criminalization Approach and (2) the Disclosure Approach. The example of the
prosecution of General Cable is a primary application of the Criminalization
Approach and its implications for companies that do business outside the United
States. A timeline is provided of General Cable’s attempts to survive an
increasingly competitive global cable marketplace and the subsequent history of
the company is provided, with the conclusion that the DOJ used a new and
little-advertised change in interpretation of a thirty-year old law to
effectively destroy an established American company and oversee the sale of its
assets to a European conglomerate.
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IJBMS by IPRPD is licensed under a Creative Commons Attribution 4.0 International License.