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U.S. and U.K. authorities have stepped up enforcement of bribery in foreign business dealings, which may herald a longer-term shift in how foreign companies operate in the Gulf, lawyers say.
WSJ: Sheik Spars With UBS Over $20 Million Fee
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It explored a number of initiatives, and in 1997 helped launch the Organisation for Economic Co-operation and Development's (OECD) Convention on Combating Bribery of Foreign Public Officials in International Business Transactions.
FORBES: Magazine Article
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Designed to put a stop to the bribery of foreign government officials, politicians, and political parties by corporations seeking to do business in corrupt countries around the world, the FCPA hangs as a sword of Damocles over any company that hopes to remain competitive in places that are not as enlightened as the U.S. when it comes to finding acceptable ways to bribe government officials.
FORBES: Making Sure Corruption Remains "Made In America"