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         <subtitle>Report to accompany H.R. 4353, including cost estimate of the Congressional Budget Office, The Committee on Commerce, to whom was referred the bill (H.R. 4353) to amend the Securities Exchange Act of 1934 and the Foreign Corrupt Practices Act of 1977 to improve the competitiveness of American business and promote foreign commerce, and for other purposes, having considered the same, report favorably thereon with an amendment and recommend that the bill as amended do pass. CONTENTS Page Amendment........................................................ 2 Purpose and Summary.............................................. 9 Background and Need for Legislation.............................. 9 Hearings......................................................... 16 Committee Consideration.......................................... 16 Roll Call Votes.................................................. 17 Committee Oversight Findings..................................... 17 Committee on Government Reform and Oversight..................... 17 New Budget Authority, Entitlement Authority, and Tax Expenditures 17 Committee Cost Estimate.......................................... 17 Congressional Budget Office Estimate............................. 17 Federal Mandates Statement....................................... 19 Advisory Committee Statement..................................... 19 Constitutional Authority Statement............................... 19 Applicability to Legislative Branch.............................. 19 Section-by-Section Analysis of the Legislation................... 19 Changes in Existing Law Made by the Bill, as Reported............ 27 Amendment The amendment is as follows: Strike out all after the enacting clause and insert in lieu thereof the following: SECTION 1. SHORT TITLE.</subtitle>
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    <abstract>The Committee on Commerce, to whom was referred the bill (H.R. 4353) to amend the Securities Exchange Act of 1934 and the Foreign Corrupt Practices Act of 1977 to improve the competitiveness of American business and promote foreign commerce, and for other purposes, having considered the same, report favorably thereon with an amendment and recommend that the bill as amended do pass.</abstract>
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         <legislativeHistory>Committed to the Committee of the Whole House on the State of the Union and ordered to be printed</legislativeHistory>
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         <action date="1998-10-08">Committed to the Committee of the Whole House on the State of the Union and ordered to be printed</action>
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         <shortTitle>International Anti-Bribery and Fair Competition Act of 1998</shortTitle>
         <recommendation>The Committee on Commerce, to whom was referred the bill (H.R. 4353) to amend the Securities Exchange Act of 1934 and the Foreign Corrupt Practices Act of 1977 to improve the competitiveness of American business and promote foreign commerce, and for other purposes, having considered the same, report favorably thereon with an amendment and recommend that the bill as amended do pass.</recommendation>
         <submittedStatement>Mr. Bliley, from the Committee on Commerce, submitted the following</submittedStatement>
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