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ABB Becomes The First Company To Resolve THREE FCPA Enforcement Actions

Trifecta

The first time ABB resolved a Foreign Corrupt Practices Act enforcement action was in 2004 concerning conduct in Nigeria, Angola and Kazakhstan.

The second time ABB resolved an FCPA enforcement action was in 2010 concerning conduct in Mexico as well as in connection with the Iraqi U.N. Oil for Food program.

Since 2017 (see here for the prior post), ABB has been under additional FCPA scrutiny and last Friday ABB became the first company to resolve an FCPA enforcement action for a third time. The latest enforcement action concerned conduct in South Africa and the net FCPA settlement amount was $147.5 million (a DOJ component of net $72.5 million and an SEC component of net $75 million).

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This Week On FCPA Professor

ThisWeekPost

FCPA Professor has been described as “the Wall Street Journal concerning all things FCPA-related,” and “the most authoritative source for those seeking to understand and apply the FCPA.”

Set forth below are the topics discussed this week on FCPA Professor.

This post highlights the many slumbering individual FCPA enforcement actions by the DOJ.

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Acting Principal Deputy Assistant Attorney General Nicole Argentieri On ….

Argentieri

Yesterday Acting Principal Deputy Assistant Attorney General Nicole Argentieri delivered this speech at the annual FCPA dog and pony show.

The speech touched on three issues: (i) the “Criminal Division’s continued cooperation with our international partners and … how [the DOJ] is expanding those relationships to combat corruption and other offenses; (ii) “recent FCPA enforcement actions against both corporations and individuals” and (iii) the DOJ’s “recent policy enhancements on corporate criminal enforcement, including Deputy Attorney General (DAG) Monaco’s revisions announced in September.”

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DOJ’s FCPA Unit Poised To Bring More Cases

CaptainObvious

There are some things that happen at Foreign Corrupt Practices Act conferences that are just silly.

For instance, the FCPA’s annual dog and pony show is occurring this week and at the conference Glenn Leon (Chief of the DOJ’s Fraud Section) stated: “I’ve now looked under the hood, I’m familiar with the pipeline, and I have every confidence that we’re quite busy in the FCPA space and working on important, impactful cases and will continue to do so.” (See here).

This is quite profound. The DOJ, which has a specific FCPA Unit, is working on FCPA cases.

That is like saying pilots are flying planes today, teachers are teaching, and surgeons are in surgery.

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Slumbering Individual FCPA Enforcement Actions

slumberingbear

Most in the Foreign Corrupt Practices Act space learn when the DOJ announces criminal FCPA charges against individuals. Thereafter, the tendency (including by myself) is to sort of forget about many of the individual cases.

However, recently I examined the dockets for all individuals criminally charged with FCPA offenses since January 1, 2017 and was surprised to learn that a meaningful percentage of these cases are slumbering with no substantive activity recorded in quite some time.

Thus, when viewing DOJ FCPA individual enforcement action statistics it is important to keep in mind that many of these cases are slumbering and are not being actively prosecuted.

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