The SEC’s fiscal year ends on September 30th. Thus, it is likely that many loose ends are being closed this week and, with history as a guide, there is likely to be more FCPA enforcement actions this week.
Most FCPA enforcement actions against issuers that include a DOJ and SEC component are resolved on the same day. However, as noted in prior posts here and here concerning the DOJ’s net $81.9 million FCPA enforcement action against TechnipFMC in June 2019, the SEC prong of the enforcement action was left open.
This loose end was closed yesterday as the SEC announced an approximate $5 million enforcement action against the company “for violations of the FCPA by FMC Technologies prior to its 2017 merger with Technip S.A.”