The Origins Of 2016 Corporate FCPA Enforcement Actions
2016 was a record-breaking year for Foreign Corrupt Practices Act enforcement.
Largest number of corporate enforcement actions in FCPA history – check. Largest aggregate corporate settlement amounts in FCPA history – check. These statistics will all be profiled in much greater detail in future posts.
Before an FCPA enforcement action is announced however, FCPA scrutiny must first originate.
This post, the first in a weeks-long FCPA statistical feast on FCPA Professor, highlights the origins of 2016 corporate enforcement action.
What You Need To Know From Q4
FCPA Professor will once again be the place to visit in January for numerous 2016 year in review statistics. But first, let’s close out the fourth quarter of 2016.
This post provides a summary of Foreign Corrupt Practices Act enforcement activity and related developments from the fourth quarter of 2016. (See here for a similar post for the first quarter of 2016, here for the second quarter, and here for the third quarter).
DOJ Enforcement (Corporate)
The DOJ brought five core corporate FCPA enforcement actions in the fourth quarter. DOJ recovery in these actions was approximately $837.5 million.
FCPA Flash – A Conversation With Martin Weinstein About The Top FCPA Issues From 2016
The FCPA Flash podcast provides in an audio format the same fresh, candid, and informed commentary about the Foreign Corrupt Practices Act and related topics as readers have come to expect from the written posts on FCPA Professor.
This FCPA Flash episode is a conversation with Martin Weinstein (Willkie Farr & Gallagher). Weinstein is a veteran of the FCPA bar and in the episode he highlights his list of the top FCPA issues from 2016. You should also listen to Weinstein’s candid assessment of the current state of FCPA enforcement towards the end of the podcast.
What You Need To Know From Q3
This post provides a summary of Foreign Corrupt Practices Act enforcement activity and related developments from the third quarter of 2016. (See here for a similar post for the first quarter of 2016 and here for the second quarter of 2016).
DOJ Enforcement (Corporate)
The DOJ brought four corporate FCPA enforcement actions in the third quarter. DOJ recovery in these actions was approximately $229 million (with $213 million coming in the Och-Ziff action).
None of these enforcement actions have resulted (at least yet) in any related DOJ individual FCPA enforcement actions against company employees.
Thus Far In 2016 …
The day after Labor Day has always seemed like a second New Year.
In that spirit, let’s kick off the “new year” by reviewing what has happened thus far in 2016 in the Foreign Corrupt Practices Act space.
Before doing so, if history is any guide September is likely to be an active month. Historically, DOJ and SEC enforcement officials have hit the speaking circuit in September and September has also tended to be an active month for FCPA enforcement as the SEC’s fiscal year ends on September 30th.
Indeed, as demonstrated in this post regarding the timing of FCPA enforcement actions, there is likely much that will happen before year-end. When it does happen, you can rest assure that FCPA Professor will provide the most timely and comprehensive coverage available.