Somehaveasked the Department ofJustice to consider a probe under the ForeignCorrupt Practices act, a broad law that targetsbribes paid anywhere in the world.
In the annals of American legislation, few laws are as futile in their impact, capricious in their enforcement, and hypocritical in their content as the ForeignCorruptPracticesActof 1977 (FCPA).
As Lynn Turner, the SEC's former chief accountant, points out, much of what the act requires is covered by the ForeignCorruptPracticesActof 1977 and by the Treadway Commission's recommendations on firms' internal controls, which date back to the early 1990s.
The letters appear to be tied to a broad ForeignCorruptPracticesAct investigation of the banking industry, said attorneys who are familiar with past FCPA investigations of other industries.