U.S. Congress Supports Early Ratification and Implementation of OECD Anti-Corruption Treaty

On June 23, 1998, the Senate Foreign Relations Committee voted out the Organization for Economic Cooperation and Development’s Convention to Combat Transnational Corruption (hereafter the OECD Corruption Convention). On June 25, 1998, the Senate Banking Committee voted out the implementing legislation. The Convention will now proceed to the full Senate for its advice and consent to ratification, and the Senate will also consider implementing the legislation to the Foreign Corrupt Practices Act (FCPA). Various committees in the House are presently examining implementing the legislation. In May, the Clinton Administration sent to Congress its proposed implementing legislation that would amend the 1977 FCPA... [more]