For the first 40-plus years of their existence, the federal securities laws did not require or prohibit specific managerial practices in the operation of business, other than a business in one of a handful of closely regulated industries. But with the passage of the Foreign Corrupt Practices Act of 1977, the SEC is equipped to […]
Buy Copies Buy CopiesThe responsibilities—and corresponding liabilities—of corporate officers, directors, and managers under the federal securities laws were greatly increased by the passage of the Foreign Corrupt Practices Act of 1977. The lack of attention by businessmen to the new law may be because of its title, which incorrectly implies that it deals only with improper business practices overseas.
A version of this article appeared in the January 1979 issue of Harvard Business Review.
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