share. But following the Asian financial crisis of the 1990s, it
became evident that, in the long term, a corrupt business climate harms all countries concerned, in addition to frustrating
international efforts to foster legitimate economic growth in
less developed countries. Some 41 countries have now adopted
laws similar to the FCPA under a convention established by the
Organization for Economic Cooperation and Development
(OECD). Most notably, in 2010 the United Kingdom adopted
and began enforcing its Antibribery Act, which is arguably more
stringent than the FCPA. Forty years after its adoption, FCPA is
not just the law of the land in the United States; it has become
an international standard.
By covering “anything of value” in addition to cash payments,
the law may prohibit gifts and even lavish entertaining or a
donation to an official’s designated charity.
Enforcement Under the DOJ and SEC
The U.S. Securities and Exchange Commission (SEC) and
the U.S. Department of Justice share responsibility for enforcing the FCPA. Most enforcement takes the form of criminal
prosecution by the DOJ seeking fines and prison sentences. The
SEC is limited to civil enforcement actions, and often refers
its findings to the DOJ for joint investigation and litigation.
The FBI, which is a division of the DOJ, has a team of agents
dedicated specifically to investigating FCPA violations.
Risks for EB-5 Issuers
Focus on Contractors and Agents
The foreign activities of EB-5 issuers consist of raising capital
and facilitating the immigration of foreign nationals. This usually involves engagin r