This is a corporate policy document designed to meet the standards of the Foreign Corrupt Practices Act, a provision of the Securities and Exchange Act of 1934. FCPA generally prohibits payments by companies and their representatives to foreign (i.e., non-U.S.) government and quasi-government officials to secure business.
The Oklahoma Foreign Corrupt Practices Act (CPA) — Corporate Policy is a set of guidelines and regulations aimed at preventing bribery and corruption in international business transactions. It specifies the standards of ethical behavior that corporations operating in Oklahoma must uphold when conducting business abroad. The CPA was enacted in 1977 to address concerns regarding the involvement of U.S. companies in corrupt practices, bribery, and unethical behavior in foreign countries. Although it is a federal law applicable throughout the United States, individual states, such as Oklahoma, often have their own versions of the CPA to provide additional clarity and enforcement. The Oklahoma CPA — Corporate Policy is designed to promote fair competition and maintain the integrity of international business transactions. It seeks to deter companies from engaging in corrupt practices such as bribery, kickbacks, and fraudulent accounting. By adhering to these guidelines, corporations can protect their reputation, avoid legal complications, and ensure sustainable and ethical business practices. Key features of the Oklahoma CPA — Corporate Policy include strict anti-bribery provisions, record-keeping requirements, and internal control measures. Companies must establish robust compliance programs, perform due diligence on potential business partners, and regularly train employees on their responsibilities under the policy. Additionally, the policy encourages self-disclosure of violations and cooperation with authorities to investigate and resolve potential misconduct. Different types of Oklahoma CPA — Corporate Policies may exist based on the size and nature of the company, industry-specific regulations, and the company's risk profile. Some variations may include: 1. CPA Compliance Program: A comprehensive set of policies and procedures to ensure compliance with the CPA provisions. It includes elements like risk assessment, training programs, and periodic audits to identify and mitigate corruption risks. 2. Anti-Bribery Policy: Focuses specifically on prohibiting bribery and corrupt practices in all business activities. It establishes clear guidelines for interactions with government officials, including rules regarding gifts, hospitality, and charitable contributions. 3. Third-Party Due Diligence Policy: Outlines procedures for assessing the integrity and reliability of third-party agents, consultants, and business partners to minimize the risk of engaging with corrupt entities. 4. Accounting and Record-Keeping Policy: Specifies guidelines for accurate financial reporting, internal controls, and record-keeping practices ensuring transparency and prevent fraudulent accounting. Companies operating in Oklahoma must familiarize themselves with the Oklahoma CPA — Corporate Policy, as well as any other applicable federal or international regulations. Adhering to these policies not only safeguards against corruption but also contributes to a fair and transparent global business environment.
