FEDERALhearing transcript

High Impact

1976 Congressional Hearings on Foreign Corporate Payments

Original title: Foreign payments disclosure: hearings before the Subcommittee on Consumer Protection and Finance of the Committee on Interstate and Foreign Commerce, House of Representatives, Ninety-fourth Congress, second session on H.R. 15481 and S. 3664, bills to amend the Securities Exchange Act of 1934 to require issuers of securities registered pursuant to Section 12 of such act to maintain accurate records, to prohibit certain bribes, and for other purposes, and H.R. 13870 and H.R. 13953, bills to amend the Securities Exchange Act of 1934 to require issuers of securities registered pursuant to Section 12 of such act to maintain accurate records and to furnish reports relating to certain foreign payments, and for other purposes. September 21 and 22, 1976.

July 20, 2026

securities regulation foreign payments corporate accountability bribery financial reporting

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The Frame

What this does

These hearings represent the legislative process that led to stricter federal oversight of how publicly traded companies report their international financial activities and handle foreign payments.

Who is mentioned in the record

Potentially affected actors named in the source documents. Mention is not a position.

Publicly traded companies

These entities would be required to maintain accurate records and report foreign payments under the proposed amendments.

Investors

Investors would potentially receive more transparent reporting regarding the foreign financial activities of the companies in which they hold securities.

What changed

Last recorded activity July 20, 2026.

What's next

Next step not available in the current record.

Summary

This document records the September 1976 hearings held by the House Subcommittee on Consumer Protection and Finance regarding proposed legislation to regulate foreign payments by U.S. companies. The hearings focused on four bills aimed at amending the to mandate accurate record-keeping and prohibit certain types of foreign bribery.

Key Facts

The hearings took place on September 21 and 22, 1976.
The Subcommittee on Consumer Protection and Finance reviewed four specific bills: H.R. 15481, S. 3664, H.R. 13870, and H.R. 13953.
The proposed legislation seeks to amend the Securities Exchange Act of 1934.
The bills aim to require issuers of securities registered under Section 12 of the Act to maintain accurate financial records.
The bills propose to prohibit certain types of foreign bribes.
The bills propose to require companies to furnish reports relating to specific foreign payments.

Why It Matters

These hearings represent the legislative process that led to stricter federal oversight of how publicly traded companies report their international financial activities and handle foreign payments.

Frequently Asked Questions

What was the purpose of these hearings?

The hearings were held to discuss proposed changes to federal law that would require public companies to keep accurate records and report foreign payments, while also prohibiting certain foreign bribes.

Which companies would be affected by these bills?

The bills target registered pursuant to of the .

News Coverage

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Related Legislation

Federal Bill

Prohibit Insider Trading Act (H.R. 1138)

This bill would prohibit members of Congress and their spouses from holding, buying, or selling most stocks, commodities, and other financial investme

Discoveries

Patterns POLISCOPE noticed across the record. These are observations to investigate, not conclusions.

policy shift100% confidence

Precursor to the FCPA

These hearings represent the direct legislative activity that preceded the enactment of the Foreign Corrupt Practices Act of 1977.

H.R. 15481 S. 3664

Connected Entities

otherSecurities Exchange Act of 1934“The primary federal law being amended by the proposed legislation.”Map →

organizationCommittee on Interstate and Foreign Commerce“The parent committee overseeing the subcommittee.”Map →

organizationSubcommittee on Consumer Protection and Finance“The congressional body conducting the hearings.”Map →

Sources

Open source document

www.govinfo.gov

Analysis Score

0–100

Significance85
How much this matters to a regular citizen
Controversy40
Intensity of disagreement among stakeholders
Entertainment10
Compellingness for a non-policy-wonk reader
Buzz5
Current news / social attention level

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