March 29, 2013
Taking a Stand Against Bribery and Corruption
Since 1977, the U.S. Foreign Corrupt Practices Act (FCPA) has placed the United States at the forefront of the fight against bribery and corruption around the world. When we learned that the U.S. Chamber of Commerce, a powerful business lobbying group, had issued proposals that could undermine the effective of the Act, we decided our voices needed to be heard. In May, we met with senior officials at the Securities and Exchange Commission and the Department of Justice, the two agencies with joint authority over the FCPA, to share our views. We then submitted an investor statement in mid-August on behalf of more than fifty institutional investors managing more than $3 trillion, expressing our support for the FCPA and explaining why strong enforcement is in the best long-term interests of investors, corporations, and society.