08:27 AM EDT, 04/03/2024 (MT Newswires) -- The Securities and Exchange Commission is investigating publicly traded tech firms' relationships with distributors and other partners outside the US in a move to combat corruption, Bloomberg reported Wednesday, citing unnamed sources.

As part of its enforcement of the Foreign Corrupt Practices Act, the regulator has been contacting tech companies to find out if they have worked with a list of dozens of intermediaries, some of which have been implicated in other investigations, Bloomberg reported.

The Foreign Corrupt Practices Act prohibits bribing foreign officials, and requires publicly traded companies to maintain accurate books and records to provide assurances that deals are conducted and assets are accounted for in accordance with generally accepted accounting principles.

The FCPA, which can apply to prohibited conduct anywhere in the world, extends to publicly traded companies as well as their officers, directors, employees, agents, and stockholders.

Representatives from the SEC did not immediately respond to a request for comment from MT Newswires.

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