Strengthening Anti-Corruption Laws Against Corporate Favoring of China.
This bill tightens US anti-corruption laws, specifically the FCPA, to target non-monetary actions by US companies that curry favor with the Chinese Communist Party (CCP), such as political advocacy or specific investments. It explicitly defines these actions, including those related to human rights abuses or territorial claims, as corrupt practices, imposing significantly higher civil penalties and limiting legal defenses for violators. The goal is to protect US national security interests and promote ethical business practices abroad.
Key points
Expands the definition of 'corruptly' to include non-monetary actions like supporting CCP political goals, denying human rights abuses (e.g., Uyghurs), or making certain investments in China.
Establishes a minimum civil penalty of three times the standard fine for violations related to currying favor with the CCP.
Removes standard legal defenses for companies engaging in these defined corrupt practices, especially those involving critical technology or the Belt and Road Initiative.
Status:
Expired
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