Source: https://law.justia.com/codes/us/2015/title-15/chapter-2b/sec.-78dd-1/
Timestamp: 2019-05-21 13:09:51
Document Index: 116471665

Matched Legal Cases: ['§ 78', '§30', '§103', '§5003', '§2', '§ 78', '§30', '§103', '§5003', '§2', '§2', '§5', '§6', '§5003']

15 U.S.C. § 78dd-1 (2015) - Prohibited foreign trade practices by issuers :: Title 15 - Commerce and Trade (Sections 1 - 8405) - US Code :: Justia
Justia US Law US Codes and Statutes US Code 2015 US Code Title 15 - Commerce and Trade (Sections 1 - 8405) Chapter 2B - Securities Exchanges (Sections 78a - 78pp) Sec. 78dd-1 - Prohibited foreign trade practices by issuers
Sec. 78dd-1 - Prohibited foreign trade practices by issuers
Contains section 78dd-1
Source Credit June 6, 1934, ch. 404, title I, §30A, as added Pub. L. 95-213, title I, §103(a), Dec. 19, 1977, 91 Stat. 1495; amended Pub. L. 100-418, title V, §5003(a), Aug. 23, 1988, 102 Stat. 1415; Pub. L. 105-366, §2(a)-(c), Nov. 10, 1998, 112 Stat. 3302, 3303.
Statutes at Large References 91 Stat. 1495
102 Stat. 1415, 1424
112 Stat. 3302, 3309, 3311
Public and Private Laws Public Law 95-213, Public Law 100-418, Public Law 105-366
15 U.S.C. § 78dd-1 (2015)
(2)(A) A person's state of mind is "knowing" with respect to conduct, a circumstance, or a result if—
(3)(A) The term "routine governmental action" means only an action which is ordinarily and commonly performed by a foreign official in—
(June 6, 1934, ch. 404, title I, §30A, as added Pub. L. 95–213, title I, §103(a), Dec. 19, 1977, 91 Stat. 1495; amended Pub. L. 100–418, title V, §5003(a), Aug. 23, 1988, 102 Stat. 1415; Pub. L. 105–366, §2(a)–(c), Nov. 10, 1998, 112 Stat. 3302, 3303.)
1998—Subsec. (a)(1)(A). Pub. L. 105–366, §2(a)(1), amended subpar. (A) generally. Prior to amendment, subpar. (A) read as follows:
1988—Pub. L. 100–418 substituted "Prohibited foreign trade" for "Foreign corrupt" in section catchline and amended text generally, revising and restating provisions of subsec. (a) relating to prohibitions, adding subsecs. (b) to (e), and redesignating provisions of subsec. (b) relating to definitions as subsec. (f) and amending those provisions generally.
Pub. L. 105–366, §5, Nov. 10, 1998, 112 Stat. 3309, provided that:
"(a) Definition.—For purposes of this section:
"(1) International organization providing commercial communications services.—The term 'international organization providing commercial communications services' means—
"(2) Pro-competitive privatization.—The term 'pro-competitive privatization' means a privatization that the President determines to be consistent with the United States policy of obtaining full and open competition to such organizations (or their successors), and nondiscriminatory market access, in the provision of satellite services.
"(b) Treatment as Public International Organizations.—
"(1) Treatment.—An international organization providing commercial communications services shall be treated as a public international organization for purposes of section 30A of the Securities Exchange Act of 1934 (15 U.S.C. 78dd–1) and sections 104 and 104A of the Foreign Corrupt Practices Act of 1977 (15 U.S.C. 78dd–2 [and 78dd–3]) until such time as the President certifies to the Committee on Commerce [now Committee on Energy and Commerce] of the House of Representatives and the Committees on Banking, Housing and Urban Affairs and Commerce, Science, and Transportation that such international organization providing commercial communications services has achieved a pro-competitive privatization.
"(2) Limitation on effect of treatment.—The requirement for a certification under paragraph (1), and any certification made under such paragraph, shall not be construed to affect the administration by the Federal Communications Commission of the Communications Act of 1934 [47 U.S.C. 151 et seq.] in authorizing the provision of services to, from, or within the United States over space segment of the international satellite organizations, or the privatized affiliates or successors thereof.
"(c) Extension of Legal Process.—
"(1) In general.—Except as required by international agreements to which the United States is a party, an international organization providing commercial communications services, its officials and employees, and its records shall not be accorded immunity from suit or legal process for any act or omission taken in connection with such organization's capacity as a provider, directly or indirectly, of commercial telecommunications services to, from, or within the United States.
"(2) No effect on personal liability.—Paragraph (1) shall not affect any immunity from personal liability of any individual who is an official or employee of an international organization providing commercial communications services.
"(3) Effective date.—This subsection shall take effect on May 1, 1999.
"(d) Elimination or Limitation of Exceptions.—
"(1) Action required.—The President shall, in a manner that is consistent with requirements in international agreements to which the United States is a party, expeditiously take all appropriate actions necessary to eliminate or to reduce substantially all privileges and immunities that are accorded to an international organization described in subparagraph (A) or (B) of subsection (a)(1), its officials, its employees, or its records, and that are not eliminated pursuant to subsection (c).
"(2) Designation of agreements.—The President shall designate which agreements constitute international agreements to which the United States is a party for purposes of this section.
"(e) Preservation of Law Enforcement and Intelligence Functions.—Nothing in subsection (c) or (d) of this section shall affect any immunity from suit or legal process of an international organization providing commercial communications services, or the privatized affiliates or successors thereof, for acts or omissions—
"(f) Rules of Construction.—
"(1) Negotiations.—Nothing in this section shall affect the President's existing constitutional authority regarding the time, scope, and objectives of international negotiations.
"(2) Privatization.—Nothing in this section shall be construed as legislative authorization for the privatization of INTELSAT or Inmarsat, nor to increase the President's authority with respect to negotiations concerning such privatization."
Pub. L. 105–366, §6, Nov. 10, 1998, 112 Stat. 3311, provided that:
"(a) Reports Required.—Not later than July 1 of 1999 and each of the 5 succeeding years, the Secretary of Commerce shall submit to the House of Representatives and the Senate a report that contains the following information with respect to implementation of the Convention:
"(1) Ratification.—A list of the countries that have ratified the Convention, the dates of ratification by such countries, and the entry into force for each such country.
"(2) Domestic legislation.—A description of domestic laws enacted by each party to the Convention that implement commitments under the Convention, and assessment of the compatibility of such laws with the Convention.
"(3) Enforcement.—As assessment of the measures taken by each party to the Convention during the previous year to fulfill its obligations under the Convention and achieve its object and purpose including—
"(4) Laws prohibiting tax deduction of bribes.—An explanation of the domestic laws enacted by each party to the Convention that would prohibit the deduction of bribes in the computation of domestic taxes.
"(5) New signatories.—A description of efforts to expand international participation in the Convention by adding new signatories to the Convention and by assuring that all countries which are or become members of the Organization for Economic Cooperation and Development are also parties to the Convention.
"(6) Subsequent efforts.—An assessment of the status of efforts to strengthen the Convention by extending the prohibitions contained in the Convention to cover bribes to political parties, party officials, and candidates for political office.
"(7) Advantages.—Advantages, in terms of immunities, market access, or otherwise, in the countries or regions served by the organizations described in section 5(a) [set out as a note above], the reason for such advantages, and an assessment of progress toward fulfilling the policy described in that section.
"(8) Bribery and transparency.—An assessment of anti-bribery programs and transparency with respect to each of the international organizations covered by this Act [enacting section 78dd–3 of this title, amending this section and sections 78dd–2 and 78ff of this title, and enacting provisions set out as notes under this section].
"(9) Private sector review.—A description of the steps taken to ensure full involvement of United States private sector participants and representatives of nongovernmental organizations in the monitoring and implementation of the Convention.
"(10) Additional information.—In consultation with the private sector participants and representatives of nongovernmental organizations described in paragraph (9), a list of additional means for enlarging the scope of the Convention and otherwise increasing its effectiveness. Such additional means shall include, but not be limited to, improved recordkeeping provisions and the desirability of expanding the applicability of the Convention to additional individuals and organizations and the impact on United States business of section 30A of the Securities Exchange Act of 1934 [15 U.S.C. 78dd–1] and sections 104 and 104A of the Foreign Corrupt Practices Act of 1977 [15 U.S.C. 78dd–2, 78dd–3].
"(b) Definition.—For purposes of this section, the term 'Convention' means the Convention on Combating Bribery of Foreign Public Officials in International Business Transactions adopted on November 21, 1997, and signed on December 17, 1997, by the United States and 32 other nations."
Pub. L. 100–418, title V, §5003(d), Aug. 23, 1988, 102 Stat. 1424, provided that:
"(1) Negotiations.—It is the sense of the Congress that the President should pursue the negotiation of an international agreement, among the members of the Organization of Economic Cooperation and Development, to govern persons from those countries concerning acts prohibited with respect to issuers and domestic concerns by the amendments made by this section [amending sections 78dd–1, 78dd–2, and 78ff of this title]. Such international agreement should include a process by which problems and conflicts associated with such acts could be resolved.
"(2) Report to congress.—(A) Within 1 year after the date of the enactment of this Act [Aug. 23, 1988], the President shall submit to the Congress a report on—
"(B) The President shall include in the report submitted under subparagraph (A)—