Seven Years Later, GE Healthcare Scrutiny Ends
Remember when a high-ranking Department of Justice official declared in 2017 that it was the intent of the DOJ “for our FCPA investigations to be measured in months, not years”? (See here for the prior post).
The recent DOJ memo titled “Guidelines for Investigations and Enforcement of the Foreign Corrupt Practices Act” states that prosecutors shall “proceed as expeditiously as possible in their investigations.”
Despite years of DOJ (and SEC) statements about the importance of expeditious FCPA investigations, the fact remains that FCPA scrutiny tends to last approximately 4-5 years on average with several instances of FCPA scrutiny lasting longer.
Case in point – GE Healthcare.
FCPA Scrutiny Of GE Healthcare Reaches Six Years
Remember when a high-ranking Department of Justice official declared in 2017 that it was the intent of the DOJ “for our FCPA investigations to be measured in months, not years.” (See here for the prior post).
The statement was laughable when made and remains laughable approximately seven years later because since the statement was made FCPA scrutiny tends to average approximately 4-5 years. (See here).
Several current instances of FCPA scrutiny have dragged on for years including that of GE Healthcare.
In this recent quarterly filing, the company disclosed: