Rather, it prohibits a covered person from paying an intermediary intending to pass the payment on to a foreign official. It remains to be seen whether signatories' implementing legislation will define intent to include willful ignorance. It also fails to curtail tax-deductibility of foreign bribes, despite the OECD's previous recommendation that states eliminate such deductions. It obligates parties to ban companies' use of books and records to hide improper payments. This does not address internal controls, however, and does not appear to require countries to apply such prohibitions to companies not already subject to national disclosure or accounting requirements.
Enforcement is left to the national regimes of signatories.
27 Penalties for transnational bribery are to be commensurate with those for domestic bribery. The convention does not establish a complaint mechanism to address disputes among parties, but the OECD Working Group on Bribery in International Business Transactions is charged with monitoring and promoting full implementation of the convention. Amending the FCPA Obligations under the convention are not binding until 60 days after five of the 10 states with the largest export shares, representing 60 percent of aggregate exports, ratify it. The parties pledged to submit the convention by April 1 to their legislatures for ratification. The FCPA already coincides with the convention in many respects, but Senate ratification will necessitate FCPA amendments to ensure consistency.