President Donald Trump has ordered a halt to foreign bribery prosecutions under the Foreign Corrupt Practices Act (FCPA), aiming to boost U.S. business competitiveness globally.
President Donald Trump on Monday planned to sign an executive order directing the Justice Department to pause prosecutions of Americans accused of bribing foreign officials while seeking business opportunities abroad.
According to a fact sheet seen by Reuters, the order seeks to revise enforcement of the Foreign Corrupt Practices Act (FCPA) of 1977, arguing that excessive and unpredictable prosecutions have put U.S. companies at a disadvantage against global competitors. The directive instructs Attorney General Pam Bondi to suspend enforcement until she establishes new guidelines that align with American economic interests.
"American national security depends on America and its companies gaining strategic commercial advantages around the world, and President Trump is stopping excessive, unpredictable FCPA enforcement that makes American companies less competitive," the fact sheet states.
Under the order, all future FCPA investigations and enforcement actions must adhere to the revised guidance and receive approval from the attorney general. The White House argues that U.S. firms are disproportionately affected by strict enforcement, while foreign competitors operate under more lenient regulations, creating an uneven playing field.
The order highlights sectors crucial to national security, including critical minerals, deep-water ports, and key infrastructure, where American firms should gain a strategic advantage.
In 2024, the Justice Department and the Securities Exchange Commission (SEC) filed 26 FCPA-related enforcement actions, with at least 31 companies under investigation by the end of the year, the fact sheet notes.
Trump’s decision is expected to draw both support from business groups seeking relief from regulatory burdens and criticism from transparency advocates who argue that the move weakens anti-corruption efforts.
The Middle East crisis intensifies after the deadly attack on the compound of the Supreme Leader of Iran Ali Khamenei on Saturday t...
The U.S.-Iran crisis has entered its third day, with further strikes reported across the Middle East and the death toll rising. Oil prices have sur...
Israel carried out heavy airstrikes on the Hezbollah-controlled southern suburbs of Beirut on Monday (2 March), af...
Türkiye and Iran have suspended day-trip passenger crossings at their shared border, Türkiye's trade minister said Monday, as a ...
China’s Foreign Minister Wang Yi has held talks with his Russian counterpart Sergei Lavrov following recent mil...
The U.S.-Iran crisis has entered its third day, with further strikes reported across the Middle East and the death toll rising. Oil prices have surged to levels last seen during the Covid-19 pandemic, raising fears of economic disruption and higher prices worldwide.
Some of Iran's most highly enriched uranium, close to weapons grade, was stored in an underground area of its nuclear site in Isfahan, the UN nuclear watchdog said in a confidential report sent to member states on Friday (27 February).
Israeli strikes killed five people in Gaza on Thursday (26 February), according to health officials in the territory. The Israeli military said separately that it had killed a militant who posed an imminent threat to its forces in southern Gaza.
The United States is expected to deploy six additional aerial refuelling aircraft to Israel as Washington continues to strengthen its military presence in the Middle East while nuclear negotiations with Iran remain under way.
Follow the latest developments and global reaction after the U.S. and Israel launched “major combat operations” in Iran, prompting retaliation from Tehran.
Saudi Arabia’s state oil giant Saudi Aramco closed its Ras Tanura refinery on Monday following an Iranian drone strike, an industry source told Reuters as Tehran retaliated across the Gulf after a U.S.-Israeli attack on Iranian targets over the weekend.
The Kremlin is utilising the recent United States and Israeli military strikes on Iran to validate its ongoing war in Ukraine. Russian officials are pointing to the escalation in the Middle East as evidence that Western nations do not adhere to international rules.
The Middle East crisis intensifies after the deadly attack on the compound of the Supreme Leader of Iran Ali Khamenei on Saturday that killed him, other family members and senior figures. Iran has launched retaliatory strikes on U.S. targets in the region.
Ayatollah Alireza Arafi has moved into a pivotal constitutional role following the death of Supreme Leader Ayatollah Ali Khamenei, becoming the clerical member of Iran’s temporary leadership council under Article 111 of the Constitution of the Islamic Republic of Iran.
The U.S.-Iran crisis has entered its third day, with further strikes reported across the Middle East and the death toll rising. Oil prices have surged to levels last seen during the Covid-19 pandemic, raising fears of economic disruption and higher prices worldwide.
The UK said it's allowing the U.S. to use its bases for defensive strikes against Iran amid escalating missile attacks, after a suspected drone strike hit a British airbase in southern Cyprus, causing limited damage.
The Kremlin is utilising the recent United States and Israeli military strikes on Iran to validate its ongoing war in Ukraine. Russian officials are pointing to the escalation in the Middle East as evidence that Western nations do not adhere to international rules.
European Union stands with its member states in the face of any threat, EU Commission President Ursula von der Leyen said in response to the drone strike that hit Britain's Royal Air Force base of Akrotiri in southern Cyprus overnight.
Start your day informed with AnewZ Morning Brief. Here are the top news stories for the 27th of February, covering the latest developments you need to know.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment