The Foreign Extortion Prevention Act (FEPA), which took effect upon being signed by President Joe Biden on December 22, 2023, brings new challenges and opportunities in anti-corruption compliance and enforcement. It makes it a federal crime for foreign officials to request or receive bribes from American businesses in exchange for favors while doing business in the foreign country. It provides a complement to the FCPA, which outlaws U.S. companies bribing foreign officials. This article examines the changes that the FEPA will introduce, with insights from partners at Davis Polk, Ropes & Gray and Morrison Foerster. See “Reading the Regulators: Shifts in FCPA Enforcement” (Aug. 16, 2023).