FCPA and TCA: Introducing the Presumptions of Final Judgment and Joint Investigation
Abstract On February 2, 2016, the Congress of Colombia passed the Transnational Corruption Act ("TCA") in an effort to fight international corruption like the Foreign Corruption Practices Act ("FCPA") does in U.S. This paper explains why TCA and FCPA define different legal standa...
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| Format: | Article |
| Language: | English |
| Published: |
2019
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| Online Access: | https://dialnet.unirioja.es/servlet/oaiart?codigo=7872347 |
| Source: | Revista de derecho: División de Ciencias Jurídicas de la Universidad del Norte, ISSN 0121-8697, Nº. 52, 2019, pags. 219-238 |
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| Summary: |
Abstract On February 2, 2016, the Congress of Colombia passed the Transnational Corruption Act ("TCA") in an effort to fight international corruption like the Foreign Corruption Practices Act ("FCPA") does in U.S. This paper explains why TCA and FCPA define different legal standards for corporate liability. It also explains how these differences increase economic costs for legal entities doing business in Colombia and U.S. Against this backdrop, this paper suggests the implementation of one universal set of anti-corruption rules. However, based on the unlikeliness of achieving such an international consensus, it also suggests that law enforcement agencies enforce anti-bribery statutes such as the TCA and FCPA under certain rebuttable presumptions. |
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