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DOCUMNT RESUME
02134 - [11432431]
Summary of Actions Being Taken in the United States to Control
Questionable Corporate Payments in Foreign Countries. OP-77-1.
May 2, 1977. 29 pp.
Report by Elmer B. Staats, Comptroller General.
Contact: Office of Policy.
Budget Function: General Government: Other General Government
(806); Commerce and Transportation: Other Advancement and
Regulation of Commerce (403).
Organization Concerned: Lockheed Cerp.
Congressional Relevance: House Committee on Interstute and
Foreign Commerce: Consumer Protection and Finance
Subcommittee; House Committee on International Relations:
International Economic Policy Subcommittee; Senate Committee
on Foreign Relations: multinational Corporations
Subcommittee; Senate Committee on Banking, Housing and Urban
Affairs; Joint Economic Committee: Priorities ana Economy in
Government Subcommittee.
Authority: Tnternational Security Assistance and Arms Export
Control Act (P.L. 94-329). Tax Reform Act of 1976 (P.L.
94-455). Foreign Payments Disclosure Act; H.R. 15149 (94th
Cong.); S. 3741 (94th Cong.). Anti-Kickback Act (41 U.S.C.
51-54) . Securities Exchange Act of 1934. Securities Act of
1933. 41 U.S.C. 22. 18 U.S.C. 1431. 18 U.S.C. 433. 10 U.S.(r.
2306(b). 41 U.S.C. 254(a). 10 U.S.C. 2207. 10 U.S.C. 2313.
S. 3664 (94th Cong.). S. 305 (95th Cong.). H.R. 15481 (94th
Cong.). H.R. 1602 (95th Cong.). H.R. 3815 (95th Cong.). S.
Res. 516 (94th Cong.).
Payments by American corporations to foreign government
officials or others to obtain business advantages have had a
political impact on the countries involved and have undermined
confidence in public and private institutions. In response, a
series of actions were taken by the President and Congress.
Findings/Conclusions: Hearings were held by congressional
committees and bills were introduced dealing with: zircumstances
and legality of corporate payments, development of a code of
conuct for international trade, and U.S. policy and criaiaal
penalties related to corporate bribery. Laws were passed with
provisions for discontinuing foreign assistance or foreign tax
benefits where illegal bribes were determined. A task force,
established by former President Ford, provided interim
suggestlons and prcposed legislation with payments-reporting
requirements. A proposed international agreement on corrupt
practices was introduced at a United Nations forum. Actions by
conierned Government agencies included enforcing securities
regulations, utilizing antitrust laws, determining tax fracd;
presenting criminal cases, and auditing transactions. The
private sector also has been seeking solutions. GAO, in auditing
negotiated contracts, generally refers violations to the
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