WASHINGTON (Reuters) – President Donald Trump on Monday prepared to authorize an exec order that routes the Justice Department to stop prosecutions of Americans charged of paying off international federal government authorities while attempting to obtain organization in their nations.
According to a duplicate of a truth sheet seen by Reuters, the order is focused on recovering American financial competition by getting “revised, reasonable enforcement guidelines for the Foreign Corrupt Practices Act (FCPA) of 1977.”
“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 truth sheet stated.
The order routes Attorney General Pam Bondi to stop enforcement of the FCPA up until she concerns changed enforcement advice that advertises American competition, the truth sheet stated.
“Future FCPA investigations and enforcement actions will be governed by this new guidance and must be approved by the attorney general,” the truth sheet stated.
The White House said that united state business are hurt by FCPA “overenforcement because they are prohibited from engaging in practices common among international competitors, creating an uneven playing field,” the truth sheet stated.
The order points out the demand for tactical benefits in crucial minerals, deep-water ports, and various other essential framework or properties worldwide to boost united state nationwide safety and security.
In 2024, the Justice Department and the Securities Exchange Commission submitted 26 FCPA-related enforcement activities, and a minimum of 31 business were under examination by year end, the truth sheet stated.
(Reporting By Steve Holland; Editing by David Gregorio)
