Bookmark and Share
 Accounting for Corporate Malfeasance
item5
  World Transnational Corporation Regulatory Authority

World Transnational Corporation Regulatory Authority

A proposal from civil society to make corporations and governments accountable for corporate malfeasance

Mike Brady

This issue brief introduces a proposal –in development– for true and direct democratic practice by making governments implement the World Transnational Corporation Regulatory Authority (WTNCRA). This concept has previously secured citizen support for provisional inclusion in the Simultaneous Policy (Simpol); which is being developed through a direct democracy process and aims to deliver social justice around the world, resolve global problems and regulate the economic power of international capital for the good of all.

The WTNCRA provides a vehicle to exercise direct democracy from the bottom up. It seeks to make corporations accountable to civil society for the impact of their activity as well as governments for regulating business practice. People can submit formal complaints against any corporation on behalf of global, national or local communities through public petitions, and bring prosecution through the International Criminal Court (ICP), which would have the power to impose penalties on companies for their corporate malfeasance or on governments for failing to meet their regulatory responsibilities.

Nonetheless, this proposal still needs to devise a way for people to have access to the ICP, for currently its mandate does not include corporate malfeasance. Moreover, it is not recognised by all States, including prominently the United States, the country with the largest number of global corporations.

The WTNCRA makes clearly evident the need of civil society for direct access to international judicial institutions empowered to penalise corporations for their customary and ubiquitous corporate malfeasance. The logical next step is for civil society to devise a specific strategy to force governments to agree on expanding the jurisdiction of the ICP to the prosecution of corporate malfeasance and on allowing society to file formal complaints against corporations and against States refusing to enforce existing agreements. The WTNCRA also exposes the great limitations of representative democracy and the urgent need for society to achieve true and direct democratic practice in a variety of ways such as the one advanced by this proposal.

item1
TLWNSI and CSR
item3
Castellano
   Site Map
   Contact us
HomeResourcesCorporate ActivityThe World TNC Regulatory Authority