Let’s Analyze This For A Bit
This recent Wall Street Journal article titled “DOJ Uncovering More Misconduct Through Self-Disclosure Program, Says Top Official” begins:
“More companies are choosing to voluntarily disclose misconduct to prosecutors after a policy revision last year that increased the potential benefits of doing so, a top Justice Department official said.
In The Words Of The DOJ …
Recently the Department of Justice Fraud Section released its 2023 Year in Review.
Set forth below are the FCPA relevant portions.
The Fraud Section has three “litigating units” including the FCPA Unit described as follows:
Deputy Attorney General Lisa Monaco On ….
Life follows a certain cycle.
March.
Lots of basketball, the days get longer, and a high-ranking DOJ official speaks at a white-collar crime conference.
So it was as Deputy Attorney General Lisa Monaco delivered this speech at the American Bar Association’s National Institute on White Collar Crime.
Monaco framed her speech as providing “an update on [the DOJ’s] efforts and tell[ing] you what’s top of mind as we confront today’s corporate enforcement landscape.”
She discussed the following topics: individual accountability, recidivism, and incentives (including a new DOJ whistleblower pilot program).
Remember When …
Remember when settlement amounts in a Foreign Corrupt Practices Act enforcement action were simple and straight forward?
For instance, the 2008 FCPA enforcement action against Siemens was a “blockbuster” at the time.
Like many recent FCPA enforcement actions, there were lots of moving parts in the Siemens enforcement action: a DOJ matter, an SEC matter, and related foreign law enforcement matters.
Yet, somehow the DOJ was able to articulate the actual settlement amount with seven words and a number: “a criminal fine in the amount of $448,500,000.”
DOJ Individual Actions: The Strange Public – Private Divide
These pages track all sorts of Foreign Corrupt Practices Act statistics.
Some of the statistics are “inside baseball” like and other statistics (such as the long time periods associated with FCPA scrutiny or the general lack of individual enforcement actions in connection with most corporate enforcement actions) raise significant public policy issues and/or undermine government rhetoric.
The statistic discussed in this post fits all three categories: it is equal parts “inside baseball,” it raises significant public policy issues, it undermines government rhetoric, and moreover it is just plain strange (or perhaps it isn’t).