A bill to reinforce the Foreign Corrupt Practices Act of 1977 by establishing a limitations period of 10 years for antibribery offenses, and for other purposes.
- Bill Number
- S. 4029
- Origin Chamber
- Senate
- Congress
- 119th Congress, Session 2
- Policy Area
- Finance and Financial Sector
- Status
- Introduced
- Latest Action
- 2026-03-09: Read twice and referred to the Committee on the Judiciary.
- Last Updated
- 2026-03-24T16:45:17Z
AI-Generated Summary
Purpose
This legislation aims to strengthen enforcement of the Foreign Corrupt Practices Act of 1977 (FCPA) by extending the time allowed for prosecuting antibribery offenses to 10 years.
Key Provisions
- Limitations Period: Establishes a 10-year window after an offense for filing an indictment or information, overriding the standard federal rule.
- Applicability: Applies to violations under section 30A of the Securities Exchange Act of 1934 and sections 104 and 104A of the FCPA.
- Retroactivity Limit: Excludes offenses committed more than 5 years before the law's enactment date.
- Sunset Clause: The changes remain in effect for 8 years from the date of enactment.
Significant Changes to Existing Law
- Modifies the general 5-year statute of limitations under 18 U.S.C. § 3282(a) specifically for FCPA antibribery offenses, creating a longer period for these cases.
- Introduces a temporary framework with both a look-back restriction and an expiration date, unlike permanent extensions in some other laws.
Potential Impacts
- Government Agencies: Provides the Department of Justice and Securities and Exchange Commission additional time to investigate complex international bribery cases.
- Citizens and Businesses: Increases the period during which U.S. companies, executives, and related individuals may face prosecution for FCPA violations.
- International Relations: Could support stronger U.S. efforts against foreign corruption, potentially affecting multinational dealings and cooperation with foreign governments.
Main Stakeholders Affected
- U.S. publicly traded companies and their officers, directors, and agents subject to FCPA jurisdiction.
- Federal enforcement bodies, including the Department of Justice and Securities and Exchange Commission.
- Foreign entities, governments, and individuals involved in transactions that may implicate U.S. antibribery rules.
Notable Legal, Constitutional, or Political Implications
- Legal: Represents a targeted legislative adjustment to prosecutorial timelines without altering the underlying definitions of bribery offenses.
- Constitutional: Operates within Congress's authority to set statutes of limitations, with built-in limits to avoid broad retroactive application.
- Political: Focuses on reinforcing anti-corruption measures through a time-limited change, introduced by a group of senators emphasizing enforcement priorities.
This summary was generated by AI and may contain inaccuracies. Refer to the official source document for the authoritative text.
Sponsor
Cosponsors (13)
Sen. Whitehouse, Sheldon [D-RI], Sen. Kim, Andy [D-NJ], Sen. Durbin, Richard J. [D-IL], Sen. Shaheen, Jeanne [D-NH], Sen. Coons, Christopher A. [D-DE], Sen. Welch, Peter [D-VT], Sen. Blumenthal, Richard [D-CT], Sen. King, Angus S., Jr. [I-ME], Sen. Wyden, Ron [D-OR], Sen. Schiff, Adam B. [D-CA], Sen. Van Hollen, Chris [D-MD], Sen. Duckworth, Tammy [D-IL], Sen. Merkley, Jeff [D-OR]
Recent Actions
- 2026-03-09: Read twice and referred to the Committee on the Judiciary.
- 2026-03-09: Introduced in Senate
Bill Versions
- To reinforce the Foreign Corrupt Practices Act of 1977 by establishing a limitations period of 10 years for antibribery offenses, and for other purposes. — issued 2026-03-09 — PDF (2 pages)