SEC Chair Bemoans Lax Anti-Corruption Efforts Overseas

By Sarah Jarvis (September 9, 2019, 9:55 PM EDT) -- U.S. Securities and Exchange Commission Chairman Jay Clayton criticized his foreign counterparts for what he called their lax enforcement of anti-corruption laws in a speech given Monday to the Economic Club of New York.

Claiming that the SEC's work may not have "the desired effect" in many areas of the world, Clayton said many countries — including those that have long had similar offshore anti-corruption laws — do not enforce such laws. He said the SEC has brought nearly 80 Foreign Corrupt Practices Act cases in the past five years involving alleged misconduct in more than 60 countries.

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