Foreign Business Bribery Prohibition Act of 2017

To authorize certain private rights of action under the Foreign Corrupt Practices Act of 1977 for violations that damage certain businesses, and for other purposes. 1. Short title This Act may be cited as the Foreign Business Bribery Prohibition Act of 2017 2. Actions authorized (a) Prohibited foreign practices by domestic concerns Section 104 of the Foreign Corrupt Practices Act of 1977 ( 15 U.S.C. 78dd–2 (j) Private right of action authorized (1) Authorized plaintiffs Any person that violates subsection (a) shall be liable in an action brought in accordance with this subsection in any court of competent jurisdiction to any issuer that is subject to section 30A of the Securities Exchange Act of 1934, domestic concern that is subject to this section, or other person that is a United States person, that is damaged by the violation of subsection (a) of this section, for damages caused to such issuer, domestic concern, or other person by the violation. (2) Proof of damages For purposes of this subsection, the court may not find for the plaintiff in an action under this subsection unless the plaintiff alleges and proves that— (A) the defendant violated subsection (a); and (B) the defendant’s violation of subsection (a)— (i) prevented the plaintiff from obtaining or retaining business for or with any person; and (ii) assisted the defendant in obtaining or retaining such business. (3) Measure of damages (A) In general The damages that a plaintiff may obtain in an action under this subsection may be equal to the higher of the two following amounts that are established by the plaintiff’s allegations and proof: (i) The total amount of the contract or agreement that the defendant gained in obtaining or retaining business by means of the violation of subsection (a). (ii) The total amount of the contract or agreement that the plaintiff failed to gain because of the defendant’s obtaining or retaining business by means of the violation of subsection (a). (B) Treble damages In assessing damages under subparagraph (A) (4) Exception for Routine Governmental Action The exception in subsection (b) shall apply to an action under this subsection. (5) Affirmative Defenses The affirmative defenses in subsection (c) shall apply to an action under this subsection. (6) Contribution Each person who becomes liable to make payment under this subsection may recover contribution as in cases of contract from any person who, if joined in the original suit, would have been liable to make the same payment. (7) Statute of limitations No action may be maintained to enforce any liability created under this subsection unless brought within 3 years after the discovery of the facts constituting the cause of action and within 6 years after the cause of action accrued. (8) United States person defined In this subsection, the term United States person . (b) Prohibited foreign practices by other persons Section 104A of the Foreign Corrupt Practices Act of 1977 ( 15 U.S.C. 78dd–3 (1) by redesignating subsection (f) as subsection (g); and (2) by inserting after subsection (e) the following: (f) Private right of action authorized (1) Authorized plaintiffs Any person that violates subsection (a) shall be liable in an action brought in accordance with this subsection in any court of competent jurisdiction to any issuer that is subject to section 30A of the Securities Exchange Act of 1934, domestic concern that is subject to section 104 of this Act, or other person that is a United States person, that is damaged by the violation of subsection (a) of this section, for damages caused to such issuer, domestic concern, or other person by the violation. (2) Proof of damages For purposes of this subsection, the court may not find for the plaintiff in an action under this subsection unless the plaintiff alleges and proves that— (A) the defendant violated subsection (a); and (B) the defendant’s violation of subsection (a)— (i) prevented the plaintiff from obtaining or retaining business for or with any person; and (ii) assisted the defendant in obtaining or retaining such business. (3) Measure of damages (A) In general The damages that a plaintiff may obtain in an action under this subsection may be equal to the higher of the two following amounts that are established by the plaintiff’s allegations and proof: (i) The total amount of the contract or agreement that the defendant gained in obtaining or retaining business by means of the violation of subsection (a). (ii) The total amount of the contract or agreement that the plaintiff failed to gain because of the defendant’s obtaining or retaining business by means of the violation of subsection (a). (B) Treble damages In assessing damages under subparagraph (A) (4) Exception for Routine Governmental Action The exception in subsection (b) shall apply to an action under this subsection. (5) Affirmative Defenses The affirmative defenses in subsection (c) shall apply to an action under this subsection. (6) Contribution Each person who becomes liable to make payment under this subsection may recover contribution as in cases of contract from any person who, if joined in the original suit, would have been liable to make the same payment. (7) Statute of limitations No action may be maintained to enforce any liability created under this subsection unless brought within 3 years after the discovery of the facts constituting the cause of action and within 6 years after the cause of action accrued. (8) United States person defined In this subsection, the term United States person . (c) Prohibited foreign practices by issuers Section 30A of the Securities Exchange Act of 1934 ( 15 U.S.C. 78dd–1 (h) Private right of action authorized (1) Authorized plaintiffs Any person that violates subsection (a) shall be liable in an action brought in accordance with this subsection in any court of competent jurisdiction to any issuer that is subject to this section, domestic concern that is subject to section 104 of the Foreign Corrupt Practices Act of 1977 ( 15 U.S.C. 78dd–2 (2) Proof of damages For purposes of this subsection, the court may not find for the plaintiff in an action under this subsection unless the plaintiff alleges and proves that— (A) the defendant violated subsection (a); and (B) the defendant’s violation of subsection (a)— (i) prevented the plaintiff from obtaining or retaining business for or with any person; and (ii) assisted the defendant in obtaining or retaining such business. (3) Measure of damages (A) In general The damages that a plaintiff may obtain in an action under this subsection may be equal to the higher of the two following amounts that are established by the plaintiff’s allegations and proof: (i) The total amount of the contract or agreement that the defendant gained in obtaining or retaining business by means of the violation of subsection (a). (ii) The total amount of the contract or agreement that the plaintiff failed to gain because of the defendant’s obtaining or retaining business by means of the violation of subsection (a). (B) Treble damages In assessing damages under subparagraph (A) (4) Exception for Routine Governmental Action The exception in subsection (b) shall apply to an action under this subsection. (5) Affirmative Defenses The affirmative defenses in subsection (c) shall apply to an action under this subsection. (6) Contribution Each person who becomes liable to make payment under this subsection may recover contribution as in cases of contract from any person who, if joined in the original suit, would have been liable to make the same payment. (7) Statute of limitations No action shall be maintained to enforce any liability created under this subsection unless brought within 3 years after the discovery of the facts constituting the cause of action and within 6 years after the cause of action accrued. (8) United States person defined In this subsection, the term United States person . 3. Effective date The amendments made by this Act shall take effect on the date of the enactment of this Act and shall apply to causes of action accruing on or after such date of enactment.

Summary: Foreign Business Bribery Prohibition Act of 2017 This bill amends the Foreign Corrupt Practices Act of 1977 (FCPA) to authorize private rights of action against persons that violate the FCPA's anti-bribery provisions, which prohibit giving things of value to foreign officials or political parties for purposes of obtaining or retaining business. A person that violates the FCPA's anti-bribery provisions shall be liable for up to treble damages to a securities issuer, domestic business concern, or U.S. person damaged by the violation. A plaintiff must prove an FCPA anti-bribery violation by the defendant that: (1) prevented the plaintiff from obtaining or retaining business, and (2) assisted the defendant in obtaining or retaining such business.