{Adam Martin arm290 final paper;v1}1 The Harmful Effects of SEC Overreach on United States Foreign Relations By: Adam R. Martin Abstract Since becoming a signatory to the OECD Convention on Combating Bribery of Foreign Public Officials in International Business Transactions in 1998, the United States, along with numerous other nations, has sought to create a level playing field for international businesses by eliminated corrupt payment schemes between corporate executives and government officials. In recent years, however, the United States’ Department of Justice and Securities Exchange Commission have failed to embody the ideals of international cooperation and global parity of enforcement inherent in The Convention. Instead, the U.S. agencies have used the Foreign Corrupt Practices Act to become a global police power, levying hefty fines on foreign corporations with little to no business contacts in the U.S. for actions which are not considered bribery under the laws of the corporations’ home states. Rather than subjecting foreign corporations with little to no connection to American commerce to U.S. law, the Legislature should initiate reform to bring U.S. laws in line with international standards and facilitate global standards for bribery regulation and prevention. I. Introduction On December 2, 1823, President James Monroe delivered an address to Congress on the role of European Powers in the Western Hemisphere. 1 The European Powers paid little attention to his address at the time; however, this speech, later known as the Monroe Doctrine, had a profound impact on America’s foreign policy and continues to guide the actions of the Legislative and Executive branches. 2 The Monroe Doctrine established a break between the New World and the Old and declared that the United States would defend the newly independent Latin American States from the imperialistic forces of 1 Monroe Doctrine, 1823: 1801-1829 Milestones, U.S. Dept. of State, Office of the Historian, available at History.state.gov/milestones/1801-1829/Monroe. 2 Id.