DOJ FCPA Enforcement – 2023 Year In Review
This recent post highlighted SEC Foreign Corrupt Practices Act enforcement against issuers in 2023.
Today’s post focuses on the other FCPA enforcement agency – the Department of Justice – and highlights various facts and figures relevant to DOJ FCPA enforcement in 2023 against business organizations. (See here for a similar post from 2022; here for a similar post from 2021; here for a similar post from 2020; here for a similar post from 2019; here for a similar post from 2018; here from 2017, here from 2016, here from 2015, here from 2014, here from 2013, here from 2012, here from 2011, and here from 2010).
Settlement Numbers and Amounts
In 2023, the DOJ brought 7 corporate enforcement actions.
Principal Associate Deputy AG Marshall Miller On …
Recently, Principal Associate Deputy Attorney General Marshall Miller delivered this speech.
He focused his remarks on “how today’s world demands that the Department of Justice expand, innovate, and modernize our corporate enforcement efforts to meet the moment, and how the private sector can also adapt to combat misconduct and promote compliance.”
Miller began:
Acting Principal Deputy Assistant Attorney General Nicole Argentieri On ….
Yesterday Acting Principal Deputy Assistant Attorney General Nicole Argentieri delivered this speech at the annual FCPA dog and pony show.
Argentieri addressed four topics: (1) the DOJ “achievements this year in the fight against corruption and white collar crime; (2) how the DOJ is “actioning the recent corporate enforcement policies announced by the department — policies that built upon longstanding Criminal Division policies and practices in a space where the Criminal Division has long been a leader; (3) “the Criminal Division’s ongoing use of data analytics, and how we are expanding our use of data to enhance our FCPA enforcement efforts”; and (4) “an exciting new resource dedicated to deepening our international partnerships in key parts of the world that will enhance our ability to identify and prosecute foreign bribery offenses and allow us to generate new and impactful cases.”
Acting Assistant Attorney General Argentieri On …
Another day, another speech by a DOJ official.
Recently, Acting Assistant Attorney General Nicole Argentieri delivered this speech in which she discussed the following topics: foreign law enforcement cooperation, corporate cooperation, compensation incentives and clawbacks, voluntary disclosure, and the DOJ’s recent “safe harbor” policy in connection with merger and acquisition activity.
Regarding foreign law enforcement cooperation, Argentieri stated:
What Others Are Saying About The DOJ’s “Safe Harbor” M&A Policy
This prior post highlighted the DOJ’s “New Safe Harbor Policy For Voluntary Disclosures Made In Connection With Mergers and Acquisitions.”
As discussed in the post, substantively the policy is not really new, nor is it a safe harbor as companies who follow the policy and “receive the presumption of a declination” will still have to pay a disgorgement amount (which in the FCPA context can be millions and sometimes higher than other forms of resolution such as a non-prosecution or deferred prosecution agreement).
This post highlights various law firm client alerts and updates regarding the policy,
Based on the the below sampling it does not appear that many law firms are impressed with the policy.