Issues To Consider From The Embraer Enforcement Action
This previous post went in-depth into the Foreign Corrupt Practices Act enforcement action against Embraer.
This post continues the analysis by highlighting additional issues to consider from the enforcement action.
Timeline
In previous SEC filings Embraer stated: “In September, 2010, we received a subpoena from the Securities and Exchange Commission, or SEC, and associated inquiries from the U.S. Department of Justice, or DOJ, concerning possible non-compliance with the U.S. Foreign Corrupt Practice Act, or FCPA, in relation to certain aircraft sales outside of Brazil.”
Thus from start to finish Embraer’s FCPA scrutiny lasted over six years.
Issues To Consider From The Och-Ziff Enforcement Action
Previous posts here and here went in-depth into the recent Foreign Corrupt Practices Act enforcement action against Och-Ziff, Daniel Och and Joel Frank.
This post continues the analysis by highlighting additional issues to consider. As highlighted below, embedded in the approximately 175 pages of resolution documents were several notable issues.
Time Line
According to Och-Ziff’s prior disclosures “beginning in 2011, and from time to time thereafter, we have received subpoenas from the SEC and requests for information from the U.S. Department of Justice (the “DOJ”) in connection with an investigation involving the FCPA and related laws.”
Issues To Consider From The GlaxoSmithKline Enforcement Action
This prior post highlighted the SEC’s recent Foreign Corrupt Practices Act enforcement action against GlaxoSmithKline.
In the action, GSK coughed up $20 million to resolve an administrative action finding that employees and agents of its China-based subsidiary and China-based joint venture provided various things of value to healthcare professionals in China.
This post highlights additional issues to consider from the enforcement action.
By the Numbers
According to FCPAnalytics, the $20 million civil penalty GSK agreed to pay to resolve the matter is the 2nd largest SEC civil penalty in an FCPA enforcement action. In addition, the $20 million settlement is the 5th largest SEC only FCPA enforcement action of all-time (in other words an SEC enforcement action lacking a DOJ component).
Issues To Consider From The AB InBev Enforcement Action
This previous post went in-depth into the SEC’s Foreign Corrupt Practices Act enforcement action against AB InBev.
This post continues the analysis by highlighting additional issues to consider from the enforcement action.
Timeline
Per the SEC’s order, the SEC began its inquiry in October 2011.
Thus from start to finish, AB InBev’s FCPA scrutiny lasted just shy of five years.
It is absolutely inexcusable on any level for FCPA scrutiny to last five years. If the SEC wants the public to view its FCPA enforcement program as legitimate, credible, and effective, it must resolve instances of FCPA scrutiny much faster.
Issues To Consider From The Nu Skin Enforcement Action
This previous post highlighted the SEC’s Foreign Corrupt Practices Act enforcement action against Nu Skin Enterprises.
This post continues the analysis by highlighting additional issues to consider from last week’s enforcement action.
Similar, Yet Different
Before the Nu Skin action, there have been several FCPA enforcement actions that have included, in whole or in part, charitable donations as highlighted in this recent post.
All of the prior enforcement actions though appear to have been involved pre-existing, presumably bona fide charitable organizations that a “foreign official” nevertheless was involved in or was valued by the “foreign official.”