FCPA, a universal jurisdictional case?

Abstract

In 1977 the United States Congress enacted the Foreign Corrupt Practices Act (FCPA), the main objective of this legislative act was the regulation of corrupt activities committed by US linked enterprises in foreign countries. The application of this act has been controversial since, as a consequence of the process of market globalization, the major enterprises worldwide and themselves linked to the US either because the highest executives are American or due to the fact that their stocks are traded on US stock markets. This article will address the nature of the FCPA, the subjects to its jurisdiction and the case law that has derived from its application over non-US linked enterprises. Finally, the author will analyze the potential application of this law to Ecuadorian which, due to the use of the US Dollar as official currency, may be subjects of responsibility under the FCPA.