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The Gray Cloud Of FCPA Scrutiny Lasted Too Long In 2017

Gray Cloud

This recent post highlighted the origins of corporate Foreign Corrupt Practices Act enforcement actions in 2017.

Continuing with the FCPA statistical feast, this post follows the chronology of FCPA scrutiny to FCPA enforcement and highlights one of the most troubling policy issues when it comes to FCPA enforcement.

That is – FCPA scrutiny simply lasts too long. Specifically, as highlighted below, 4.5 years was the median length of time companies that resolved FCPA enforcement actions in 2017 were under scrutiny. (See here for the prior post highlighting that 4.25 years was the media length of time companies that resolved FCPA enforcement actions in 2016 were under scrutiny).

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The Origins Of 2017 Corporate FCPA Enforcement Actions

start

Yesterday’s post compared corporate FCPA enforcement actions in 2017 to prior years. However, before a Foreign Corrupt Practices Act enforcement action is announced, scrutiny must first arise.

Today’s post highlights the origins of 2017 corporate enforcement actions. (See here for a similar post highlighting the origins of 2016 corporate enforcement actions).

As highlighted in the post, like prior years, 2017 corporate enforcement actions originated in a variety of ways from voluntary disclosures, to foreign media reporting and foreign law enforcement investigations, to pro-active SEC investigations, to civil litigation.

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Corporate FCPA Enforcement In 2017 Compared To Prior Years

Statistical Analysis

This post, the first in a weeks-long statistical feast on FCPA Professor, compares corporate FCPA enforcement in 2017 to prior years. Keep the numbers in this post in mind when you see (or have seen already) other 2017 FCPA enforcement statistics that use creative and haphazard counting methods or fail to use accurate or consistent math.

The most reliable and accurate way to keep FCPA enforcement statistics is by using the “core” approach which focuses on unique instances of FCPA scrutiny. The core approach does not distort FCPA enforcement statistics by double counting parallel DOJ and SEC actions involving the same core conduct announced on the same day nor does the core approach distort FCPA enforcement statistics by separately counting the sometimes unique ways the DOJ slices and dices corporate conduct between parent companies and subsidiaries. As highlighted in the article “A Common Language to Remedy Distorted FCPA Enforcement Statistics,” the core approach to tracking FCPA enforcement has been endorsed by the DOJ and is a commonly accepted method used to track enforcement in other areas of law.

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What You Need To Know From Q4

Q4

This post provides a summary of Foreign Corrupt Practices Act enforcement activity and related developments from the fourth quarter of 2017. (See here for a similar post for the first quarter of 2017, here for the second quarter of 2017, and here for the third quarter of 2017).

DOJ Enforcement (Corporate)

The DOJ brought 2 corporate FCPA enforcement actions in the fourth quarter. DOJ recovery in these enforcement actions was $343.5 million (after accounting for various credits and deductions for contemplated related foreign law enforcement actions). Both of these actions also included related DOJ individual FCPA enforcement actions.

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What You Need To Know From Q3

q3

This post provides a summary of Foreign Corrupt Practices Act enforcement activity and related developments from the third quarter of 2017. (See here for a similar post for the first quarter of 2017 and here for the second quarter of 2017).

DOJ Enforcement (Corporate)

The DOJ brought one corporate FCPA enforcement action in the third quarter. DOJ recovery in this enforcement action was approximately $275 million (after accounting for various credits and deductions for contemplated related foreign law enforcement actions). This action has not resulted (at least yet) in any related DOJ individual FCPA enforcement actions.

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