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Survey Says

Survey Results

Recently, Ethics and Compliance Initiative (ECI) released this survey titled “Corporate Compliance Programs and U.S. Department of Justice Enforcement Policies.”

As stated by ECI, the survey “was designed to obtain ethics & compliance leaders’ opinions about the DOJ’s enforcement guidelines and their intersection with corporate compliance programs.”

According to ECI, the “survey was conducted online, accessible through: unique invitation links sent to qualifying individuals; and an anonymous link posted on ECI’s and partner organizations’ platforms and websites.” Data collection took place May through June 2021 and participates included: 248 chief ethics & compliance officers (CECOs), chief compliance officers (CCOs) and chief ethics officers (CEOs) or their equivalents.”

A few data points that caught my eye.

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Friday Roundup

Roundup

Under scrutiny again, guilty plea, and for your listening enjoyment.

It’s all here in the Friday roundup.

Under Scrutiny Again

As highlighted in this prior post, in 2019 Russia-based Mobile TeleSystems PJSC (MTS) agreed to resolve an $850 million DOJ/SEC FCPA enforcement action based on the same alleged core conduct in several other Uzbekistan telecom focused FCPA enforcement actions. (See here and here). As a condition of settlement, MTS was required to retain an independent compliance monitor.

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Friday Roundup

Roundup

A quite September, to FCPA Inc., Ng commentary, and discontinued.

It’s all here in the Friday roundup.

Quiet September

As highlighted in this prior post, September has historically been a very active month for FCPA enforcement as the SEC’s fiscal year ends on September 30th.

While the SEC did announce the WPP enforcement action on September 24th (see here and here for prior posts), for the second consecutive year, September FCPA enforcement was below historical norms.

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What Do The Numbers Look Like?

numbers

This recent Wall Street Journal article focused on individual DOJ enforcement actions in connection with corporate enforcement actions in the aftermath of the so-called Yates Memo (September 2015) in which the DOJ was supposedly going to place a renewed emphasis “in any corporate case of holding individual wrongdoers accountable.”

The article noted: “between 2016 and 2020, [the DOJ] prosecuted employees in 37% of 146 cases where companies received leniency through so-called deferred or non-prosecution agreements.”

What do the numbers look like specifically in the FCPA context?

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This Week’s DOJ FCPA Enforcement Action Will Be Counted As A Biden Administration Enforcement Action And Should Not Be “Discounted”

just saying

As touched upon in this prior post, during the Trump administration certain FCPA commentators appeared to become unhinged and were saying some ridiculous things (see here – “the Foreign Corrupt Practices Act is likely to be substantially weakened, perhaps even repealed” and “the era of vigorous FCPA enforcement … is over.”).

Once it become clear that FCPA enforcement remained robust during the Trump administration – and indeed was above recent historical averages in terms of both corporate and individual enforcement as well as set records in terms of overall yearly FCPA settlement amounts, – some commentators shifted gears and suggested that none of this really mattered because certain FCPA enforcement actions were initiated, and in the so-called pipeline, prior to the Trump administration.

Given that corporate FCPA scrutiny tends to last approximately four years on average (see here), such statements were partially and technically true. However, I don’t recall commentators ever discounting FCPA enforcement actions during the first Obama administration even though many of them initiated during the Bush administration nor do I recall commentators ever discounting FCPA enforcement actions during the first Bush administration even though many of them initiated during the Clinton administration.

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