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Essay / Research Paper Abstract
This 3-page paper discusses the fictitious Geletex and whether there was any violations of the FCPA. Bibliography lists 4 sources.
Page Count:
3 pages (~225 words per page)
File: AS43_MTgeletxan.rtf
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Unformatted sample text from the term paper:
In this office, Jed, who was reviewing financial records, discovered that the commissions expense for the branch was very high. Though Geletex pays
salespeople commissions for each commercial customer recruited for cellular or long-distance services, Jed has known that some of the companies are paying higher-than-usual sales commissions to cover the fact that
salespeople are paying kickbacks in exchange for contracts. In the U.S., such activity would be out and out bribery, and in direct
violation of Geletexs code of ethics. However, when Jed confronted the Lima district manager about the high commissions, he responded that things were different in Lima, and "if the company
wants results, weve got to get things moving any way we can." This is clearly bribery (and the district manager was correct
- in many cultures, bribery is not only tolerated to grease the wheels, but mandated). The question we need to ask ourselves here, however, is whether its a violation of
the Foreign Corrupt Practices Act (FCPA). The Foreign Corrupt Practices Act of 1997 covers two issues; one involving transparency requirements through the
SEC and another involving bribery of foreign officials (Foreign Corrupt Practices Act, 2009). It is the latter with which we will concern ourselves. The antibribery provision prohibits "Issuers,
domestic concerns, and any person from making use of interstate commerce corruptly, in furtherance of an offer or payment of anything of value to a foreign official, foreign political party,
or candidate for political office, for the purpose of influencing any act of that foreign official in violation of the duty of that official, or to secure any improper advantage
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