• Bribery & Anti-Corruption - Public Officials in International Business Transactions - An Emerging Market Context: The Turkish Example
  • August 26, 2013 | Author: Gönenç Gürkaynak
  • Law Firm: ELIG Attorneys-at-Law - Istanbul Office
  • U.S. federal law prohibiting bribery of foreign government officials, has risen to new prominence over the past decade. Since 2004, and particularly in the past 2 years, the FCPA has been enforced more aggressively, with greater financial penalties, and with increasing extraterritoriality. It is of particular relevance to U.S. companies doing business abroad, and foreigners working with U.S. companies ¿ both of whom face heightened scrutiny for their dealings with foreign of¿ cials. In this respect, this article aims to provide an overview of the FCPA and its practical implications in view of the Turkish legal framework. The article also discusses these issues in respect to the Bribery Act 2010 and the OECD Convention on Combating Bribery of Foreign Public Of¿cials in International Business Transactions, making reference to the relevant legislative documents in light of the provisions found under the FCPA and the relevant legislative basis under Turkish law.