What makes a statute effective—enforcement statistics such as convictions and fines or whether it is, in practice and in the field, observed by those whose conduct it targets? In an article titled “How Should We Measure the Effectiveness of the Foreign Corrupt Practices Act? Don’t Break What Isn’t Broken—The Fallacies of Reform” in Volume 73, Issue 5 of the Ohio State Law Journal, Shearman & Sterling’s Philip Urofsky and Marina Moon take the position that the Foreign Corrupt Practices Act (FCPA), by any measure, has been effective in curbing improper conduct by U.S. companies. In contrast, many of the criticisms and proposals for “reform” show a lack of understanding of the actual practices by the enforcement authorities and the companies regulated by the statute, or are motivated by misplaced policy considerations.
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